Does an offset account reduce monthly repayments?

Does an offset account reduce monthly repayments?

Does an offset account reduce monthly repayments? No. Not for a standard principal and interest home loan. You would think borrowers with savings in their offset accounts should have lower repayments. For a principal and interest (P&I) loan it is not the case. But there can be a significant interest savings benefit for borrowers with…

Avoid these 5 offset account mistakes
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Avoid these 5 offset account mistakes

Common offset account mistakes I see Being a mortgage broker since 2008 has given me insights and experience too valuable to keep to myself. Offset accounts are common loan feature for Australian borrowers. Used correctly, they can be a powerful tool to offset home loan interest—and accelerate your home loan pay off trajectory. I am…