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Get The Most From Your Offset Account

Strategically working your offset account



Let's compare a $1,000,000 loan over a 30 year period at a 5% interest rate ✅ 



Total repayments over 30 years - $1,932,588 📊 



Let's say in this scenario you have $100,000 left in your savings and you've got a few options... ✌ 



Option 1 - Reduce the initial loan size by $100,000 over the 30 year period


Total repayments - $1,739,302 



Assisting with $500 per month to the offset account - saving 3 years 1 month and $182,226 in total mortgage costs



Option 1 - final payment amount - $1,557,076 ☝ 



Option 2 - Keep originally loan size over the 30 year period


Total repayments - $1,932,588



Adding $100,000 to the offset account day 1 and adding $500 per month additionally each month - saving 8 years 11 months and $754,474



Option 2 - final payment amount - $1,178,114 🙌 



Strategy around offset / redraw facilities is extremely important. Make sure you're using it wisely, effectively and maintain your discipline. Cash in this case and in almost all cases... is the KING! 👑 



Book a 30 minute discovery call - linktr.ee/rossthemortgagebroker

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