Home-owners will make the biggest savings from the interest rate cuts by maintaining their mortgage repayments at the pre-cut levels. Mortgage broker Louise Lucas of The Property Education Company says borrowers who do this can get ahead of their payments and save money long-term.

Following the two recent rate reductions, most variable rate home mortgage holders are set to save more than $100 a month, says Sally Tindall of comparison site RateCity. “For many, it’s money they can spend paying off the winter electricity bills, buying groceries or on extra mortgage repayments,