Recently we received some great information and advice on ways you can save money and still be paying off a mortgage.
Karli Fahey is a personal mortgage advisor from Smartline Personal Mortgage Advisors and had this to say about Mortgage Offset Accounts:
Karli Fahey – Personal Mortgage Adviser
“A mortgage offset account is a savings or transactional account, held with your lender, that offsets (or deducts) interest that would otherwise be earned on the daily balance against the interest payable on your mortgage.
In other words, instead of earning interest on your account balance, you pay less interest on your loan.
The key benefits of a mortgage offset account include:
You’ll find a handy, new online calculator on the Smartline website to help you estimate how much time and interest you could save on your home loan by using an offset facility. Click here for the calculator.”
If you would like to have a one on one chat with Karli just call, text or email me to arrange a time:
Bryan Canavan – New Homes Sales Consultant