If your a disciplined person...

[carole]

With one of our mortgages (we have two) we use the line of credit method.
It's very simple to do, as long as you follow your budget. How it works if you don't already know is.
1. You live off credit.
2. You pay off that debt completely each month, so your not paying any interest.
3. All you income goes into your mortgage/bank account. So the more you keep in there, the less interest you pay on the mortgage for that month.
I am no financial expert, in the beginning a mortgage broker showed us the of paying off the mortgage the old fashioned way against the line of credit method.
The house would be payed off an about an extra 3 years earlier from memory.
Off course if you don't stick to your budget and just go spending willy nilly.
Or you don't clear the debt each month, you'll soon find yourself in a great deal of trouble. So if you are a disciplined type and are thinking of getting a mortgage then check into one of these. I think they're good value....
But be sure before you sign up. Research is the key.
Cheers Carole.