All Topics / General Property / Split Loan + Offset Accnt

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  • Profile photo of kenzelkenzel
    Member
    @kenzel
    Join Date: 2007
    Post Count: 51
    May 26, 2008 - 4:34 am

    Hi Guys,

    It's been awhile since I posted and it's good to be back! 
    My investing mojo is back and fully charged and I'm ready to continue my journey out of the rat race again :)
    A question a have is how the offset is applied to a split loan, e.g. 20% fixed and 80% variable. I'm going to visit my banker this weekend but thought I'd post here first and save myself the trip if someone has an answer
    Any comment welcome!
    Fanks in advance,
    Cheers

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    May 26, 2008 - 11:44 am

    That is easy.

    Depending on who the lender is will determine whether any of the offset can be applied to the fixed portion.
    Most lenders will limit the offset to the variable rate although there is a few exceptions.

    Richard Taylor | Australia's leading private lender

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