“I’d prefer it to go into my mortgage offset and offset that mortgage”
♫
Said on She's On The Money
“Offset account… loan limit minus what you've got in your offset account… $500,000 loan, $100,000 in savings… charged interest on $400,000”
Pat Noll · Equity Mates Investing Podcast · Ask An Adviser: Where property is heading, debt recycling and the future of rentvesting with Pat Noll
Play from 20:32
20:32
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What was described
Use an offset account linked to mortgage so interest is charged on loan amount minus offset balance
$500,000 loan, $100,000 in offset → interest charged on $400,000
Said nearby on the same subject
“I often suggest you have them in an offset account, where it actually means that you're not paying interest for the amount of cash that you've got there.”
MY
Michael Yardney
Property Investment & Wealth Creation Australia | The Michael Yardney Podcast ·
“If they did nothing else, but set up another offset account or another bank account, and just transferred $640 a week to that account”
GJ
Glen James
WWGD with Glen James ·
“Having a buffer in an offset account, genuine reserve that you don't touch unless you have to. That's the way it will keep you in the game when interest rates rise...”
MY
Michael Yardney
Property Investment & Wealth Creation Australia | The Michael Yardney Podcast ·
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