Mortgage Reduction Scheme

A Mortgage Reduction Scheme is a financial strategy designed to help homeowners pay off their mortgage faster or reduce the total interest paid over the loan's duration. It typically involves making additional payments or choosing options like lump-sum payments, bi-weekly installments, or shorter loan tenures. By increasing payments or optimizing repayment schedules, borrowers can decrease the principal balance more quickly, resulting in lower interest costs and shortened loan terms. The scheme aims to enhance affordability and financial flexibility while helping homeowners become debt-free sooner.