Mate why do you need a helmet to work in an office?
@CDCgamingHD Жыл бұрын
Jealous you can’t grow your hair out?
@Chil3no90 Жыл бұрын
@@CDCgamingHD 🙄
@MortgageBrokerAustralia Жыл бұрын
🤣 thanks for watching!
@Chil3no90 Жыл бұрын
Always watching , great advice and tips as always 😎👍
@dejansoldo2646 Жыл бұрын
😂
@easytiger260 Жыл бұрын
Some offset accounts cap the amount to around $10k per annum, you're better using a redraw and to put maximum savings into it, increase your minimum payment amount and change to fortnightly instead of monthly.
@MortgageBrokerAustralia Жыл бұрын
Thanks for watching
@brycewhitaker7257 Жыл бұрын
Which banks are you referring to? No banks I know have “caps” on a variable loan offset accounts and I deal with over 45 lenders
@sambo383211 ай бұрын
I do weekly
@kasokachibanga8837 Жыл бұрын
With high inflation does the inflation pay of the debt in cheaper dollars per month or year?
@TheJakeman92 Жыл бұрын
I just use the redraw as an offset. And no yearly fee on my home loan 🤷
@MortgageBrokerAustralia Жыл бұрын
Thanks for sharing!
@massimilianomarrazzo2392 Жыл бұрын
Ok, but a home loan with offset account costs more than another one without offset. Am I correct?
@MortgageBrokerAustralia Жыл бұрын
That's right.
@massimilianomarrazzo2392 Жыл бұрын
@@MortgageBrokerAustralia I mean not only because of the bank fee for holding the offset account, the interest rate can be 1% higher than a mortgage without offset ... would it still be a good deal?
@MortgageBrokerAustralia Жыл бұрын
Depends on the bank, some lenders only charge $10 per month for an offset and the rates aren't any higher than their basic loans without an offset
@susmusmanoj112 Жыл бұрын
Mate 8:11 and beacuse of this yr debt remains protected and remains tax deductible.. could you please explain in very simple terms 😥😥
@ckl5305 Жыл бұрын
Yes, would like to know too. I was advised that ATO treats offset account funds just like the redraw account. Meaning in your example, $100k in the offset account will lower your claimable interest by that margin. If you take out the $100k later, the ATO will not let you claim the full amount. Could you please clarify?
@brycewhitaker7257 Жыл бұрын
You can’t claim any tax on an owner-occupied loan in Audtralia
@andrewmee8136 Жыл бұрын
I have recently sold an investment property and thinking of putting the funds into my offset account against my home loan (ANZ standard mortgage) instead of paying that loan off which I could. This is because my age now will probably prohibit me from further borrowing and I don't want to lose access to money if I say wanted to do another investment down the track. It will be fully offset ($950k offset vs $950k loan) and I wanted to check if anyone out there could comment on my thinking re what will happen on a monthly basis to the loan and offset account to see if I am correct in my thinking. I assume the offset and loan balance will drop at exactly the same amounts at around $6k a month (as no interest payable) and this will of course reduce the funds I have access to each month. However, because I am paying much more principal into the loan than I need to (due to no interest), it will create redraw in the home loan provided I have a loan with a redraw feature which I do. Are there some experts out there that agree with what I think will happen as the months and years go by if I don't touch or use the funds for a while?
@MortgageBrokerAustralia Жыл бұрын
Thanks Andrew, that's a great question. As you mentioned with the loan being fully offset there is no interest applicable and if the loan is principle and interest the loan limit will continue to reduce each month. The offset will continue to reduce each month as the principle reduces too. You might be able to chat with your bank and have them review options such as interest only where the limit and offset won't reduce if this is something you'd prefer.
@andrewmee8136 Жыл бұрын
They won't do int. only, already had 5 years and 66 years old now.@@MortgageBrokerAustralia
@MortgageBrokerAustralia Жыл бұрын
Makes sense
@andrewmee8136 Жыл бұрын
So do you think I’m barking up the right tree thinking it will create redraw in the loan over the years?
@andrewmee8136 Жыл бұрын
Meant to say thanks for your comments so far Hunter.