One in four Australian mortgage holders expect to be debt-free within five years

Richard Whitten, home loans expert at Finder, says mortgage freedom is becoming a goal for Australians well before the traditional retirement age. A new tool will ‘brutally’ roast your mortgage rate – and for 825,000 Australians racing to pay off their home loan, the verdict could be worth $58,000. According to leading Australian comparison website Finder’s 2026 Home Loan Report, one in four mortgage holders (25 per cent) – equivalent to 825,000 people – expect to be completely debt-free within five years. One in four mortgage holders expect to be completely debt-free within five years. Three per cent of homeowners are expected to pay off their home loan within the next year and seven per cent within one to two years. For some, the finish line is even closer, with three per cent expecting to pay off their home loan within the next year and seven per cent within one to two years. To help homeowners see if their mortgage is helping them get there, or holding them back, Finder has launched Roast My Rate. It’s a free tool that analyses a borrower’s home loan and delivers instant, brutally honest feedback, plus a clear estimate of how much they could save by switching. MORE NEWS: How an...