It is a miracle! For years you’ve slogged away at your home loan, thinking you were never going to get it paid. Then lo and behold, long before even your 55^th birthday, you check the mortgage and realise: hey, you can repay the outstanding home loan right now if you want. And the quicker you repay the loan, the less interest you pay, right? But make a few phone calls, and you’ll probably meet at least one mortgage broker who wags his finger and tells you to reconsider. As it turns out, the issue of whether to repay your home loan early is more complicated than it seems. This is one of those situations where, sometimes, it can even be less financially prudent to pay off the outstanding loan early. Here’s what to consider before you go ahead: Why isn’t it always better to pay off the home loan early?

• Locking up the cash in your property is dangerous if you lack savings

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