Australian Rules Mortages

There has been a lot of publicity lately about "Australian Rules" mortgages
Believe it or not, it has nothing to do with cricket, barbies or drinking tinnies!

The idea is that the interest charged to the mortgage is calculated daily, not annually.
This means that every payment you make immediately reduces the outstanding capital.
This only works on Repayment mortgages and really makes a noticeable difference if you make over payments.

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