Mortgage Offset Loans

Break Down

• A Mortgage Offset loan facility or account is simply a normal everyday transaction bank account, however the balance in the account is used to reduce interest on your mortgage loan
• (For example: - a Mortgage Loan of $600,000, with a OFFSET Bank account balance of $50,000, means that you pay interest on $550,000)
• You are free to do what ever you like with your Offset Account that you set up, for instance you may wish to deposit more funds or withdraw funds from this account at anytime.
• In most cases, people setting up an Offset account, usually direct and deposit their salary into this account. It is extremely beneficial as interest is calculated daily, which means from the moment your money hits your Offset account, you actually begin saving interest!