REDRAW vs OFFSET ACCOUNTS: Which Is Better For Paying Your Home Loan Fast?

FANTASTIC, fast and clear video that has explained what the biggest difference is and the tax implication! Been hunting for a clear answer on this for ages. Thank you!

What if i don't have any investment properties owe 300k on home and have 100k cash whats the best thing to do?

Thanks that was very clear. Went round in circles with CBA explaining to me and didn’t get anywhere

Hi whats my best option,i have $200k ,i want to save as a deposit for house,please what should i do?

Does having money in the offset, reduce the length of the loan, or do you have to make a specific payment to the principle?

I have a small existing mortgage at 6.29% currently have redraw facility but looking to have an offset account, Load up the offset with a windfall from an inheritance. Looking to minimise interest payments on the loan but have funds available to invest in the near future

You went from a home loan to a investment loan mid video,of course you cant buy a car with a investment loan and claim it

Hi Nick, I'm from Melbourne Aus. I have a home loan for the home I live in. My loan has a redraw only but I never have put anything in to it. Currently I have all my savings in a COMM bank saver. If I live in my home should I transfer from COMM bank to put the money in my redraw?

Shot bro. Can I ask a question

How's redraw ever good during tax time?

I see the main downfall of redraw is missing out on tax deductions. However as an owner occupier i domt deduct these anyway.

As an owner occupier whats better. I want to pay the loan off asap but also want to be able to use money if we need a holiday, car or repairs etc

Want to turn PPOR into IP later = offset

Want to live in your PPOR and not turn it into an IP: redraw

What if your PPOR isn't an investment property on paper, but is being leased out?

Pl cut the music, your voice is barely heard.