HAVE ANY QUESTIONS? CONTACT US
Mon - Sun: 7:00 - 21:00
Open 7 days
0411 229 602
Call
troy@pmbg.com.au
Email

FIRST HOME BUYERS

We have a range of home loan
options, including low deposit and
no deposit ( with a guarantor) home loans.

DEBT CONSOLIDATION

We may be able to help consolidate
debts like credit cards, personal
loans and more with your home loan.

COMPARE YOUR HOME LOAN

Our obligation free online
home loan health check may
help you save money!

Offset Account Home Loans

An offset account home loan generally has a savings account in which the balance of the savings account directly offsets against the balance of the home loan. For example if you have a home loan of $100,000 and you have a balance of $10,000 in your savings/offset account, the interest charged on the home loan would be the balance of $90,000 ($100,000 Home loan minus $10,000 in the savings/offset account). If you had $40,000 in the offset account, you would be charged interest on $60,000. Interest on home loans is generally calculated daily, so the interest charged on the home loan is the home loan itself ($100,000 in our example) minus the average daily balance of the offset account. This is a great way to save interest, on your home loan, as an offset account is generally a savings account, and can be used as your day to day transaction account, with a debit card, bpay etc.

Advantages

  • A great way to save money.
  • With most banks, an offset account home loan can be packaged under a banks professional package, saving on fees and offering a discount interest rate on your home loan.


Disadvantages

  • With most banks offset accounts only work against variable rate loans, although some banks or lenders do offer offset accounts against fixed rate home loans, but most are only a partial offset against the fixed rate home loan.


General Offset Account Home Loan Fees

  • There may be an application fee.
  • There may be a monthly or annual fee on an offset account home loan.
  • If your loan is greater than 80% of the property value, you will pay a once off mortgage insurance fee.
  • There may be a monthly fee on the transactional offset account.


Loan Term And Repayment Types

  • Home loan terms from 5 to 30 years (Depending on the bank or lenders credit policy)
  • Principle and interest repayments are available.
  • Interest only repayments may be available.


If you would like some more information on offset account home loans, contact Perth Mortgage Broker Group , or call Troy on 0411 229 602, 7 days a week.

Contact Us

Please let us know your name.
Please let us know your email address.
Invalid Input
Preferred Contact
Invalid Input
Please let us know your message.

Your Home Loan Repayments

  • MORTGAGE CALCULATOR

    • Loan Amount ($)
    • Interest Rate (%)
    • Term in Years (Max 30)
PERTH PROPERTY REPORTS

PERTH PROPERTY REPORTS

As part of our service, we are offering free Perth property reports on as many properties as you like.
Perth Mortgage Broker Group
We are open 7 days a week.
Please contact us anytime.
0411 229 602
troy@pmbg.com.au
© Copyright 2018 Perth Mortgage Broker Group. All Rights Reserved.

Search

Contact

Please let us know your name.
Please let us know your email address.
Invalid Input
Preferred Contact
Invalid Input
Please let us know your message.