Christmas Home Loan Tips
Christmas Home Loan Tips - How to Enjoy the Festive Season Without Hurting Your Mortgage
Christmas is a time for family, food, and switching off — but it can also be one of the most expensive times of the year.
A little planning now can help you enjoy the festive season without putting unnecessary pressure on your home loan or finances.
Whether you already have a mortgage or you’re planning to buy in the new year, here are some practical Christmas home loan tips to finish the year strong and start the next one in a great position.
Stick to a Christmas Budget
It’s easy to overspend during December with gifts, travel, and social events. Follow these simple guidelines
Set a clear Christmas spending limit
Avoid using high-interest credit cards where possible
Keep your regular home loan repayments unchanged
Keep Making Extra Repayments if You Can
If you’ve been paying extra on your home loan throughout the year, try to keep it going over Christmas.
Extra repayments:
Reduce interest over the life of your loan
Build a buffer in your offset or redraw
Give you more flexibility in the new year
Every little bit still counts.
I also have extra repayment calculators that can show you an estimated amount of interest and time you could save by paying a little extra on your home loan.
Christmas Is a Good Time to Review Your Interest Rate
Many borrowers don’t realise they’re paying more than they need to. The end of the year is a great time to ask:
Is my interest rate still competitive?
Have my circumstances changed?
Could I be eligible for a better loan product?
If Christmas Spending Gets Tight, There Are Options
If the festive season puts a bit of pressure on your finances, you’re not alone — and there may be options available.
Depending on your situation, it may be possible to:
Consolidate high-interest debts into your home loan
Review your current interest rate to ensure you’re not paying more than you need to
Restructure your loan/Switch products
A quick home loan review can help identify whether any of these options make sense for you. It only takes a few minutes and could make a meaningful difference moving into the new year.
If you’d like to have a chat or review your options, feel free to get in touch.
Enjoy Christmas — Just Plan Ahead
Christmas shouldn’t be stressful. With a little planning around your home loan and spending, you can enjoy the holidays knowing your finances are still on track.
Wishing You a Merry Christmas
Thank you to all our clients, families, and referral partners for an incredible year. Wishing you a safe, relaxing, and enjoyable Christmas, and a fantastic start to the New Year.
