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For most of us, if you've lucky, you may get the chance to own your own home, or should I rephrase, and say have the biggest debt in your life. Like many of us, I have a mortgage that slowly but surly is going down, however over the past few years I've been doing some research and have found a few tricks that are making a huge indent in my mortgage.

1. Start off Small

I've heard many people say that it's too hard to get into the property market to buy there own home, or the home they want is too expensive. My take on this is that most people now days want too much, too soon. In today's society it seems that too many people want everything now, rather then to work for what they want.

My suggestion when starting off with a mortgage is to start small. The key is to not over finance, otherwise you will struggle to pay your mortgage and live at the same time. It also means you can do things like pay a little off then required, which results in huge benefits. I myself much prefer our little townhouse and know that if there is another interest rate rise, we could easily afford to continue to pay our mortgage.

2. Find the Right Mortgage
If you're thinking about ways of saving interest on your mortgage, the first thing you should do is find out everything about your mortgage and how it works. As soon as you put this article down, go and get your mortgage contract, and read it. If you haven't by the end of reading the agreement at least got an idea on how your interest is calculated and how much the monthly or annual bank fees are, re read it until you do.

Once you know the details of your loan, you should find out if it's the best one for you and if you can do better. At this stage you might want to talk to someone that knows what type of mortgages are available, like a mortgage broker or bank manager. Be warned, don't trust everything they might tell you, it's always possible that advisor's will steer you in a direction, to get the best commission. You need to ensure that you understand how your new mortgage is going to work, and why it's better then the one you have. If you don't know, ask questions, lots and lots until you get it.

Finding the right mortgage is not just about finding the mortgage with the lowest interest, you need to look at the whole package. Look at all the terms and conditions, what matters to you and what sort of costs may be associated with particular transactions. Some people like to pay additional repayments. If that's the case is there a limit or

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