Hi all – I've been following this thread with interest, and I am very new to this so please be kind!

Just wondering what exactly is an offset account? I've just purchased my fist IP, and from researching (and reading these forums!), have decided the best way to structure the loan is to not cross-collateralize wtih my PPOR, but to borrow 90% against my PPOR, which gives me $61,000 available equity, using some of this to pay the 20% required towards my new IP (on which I will have an 80% loan), this then leaves me around $18,000 worth of equity that I believe is "available" to me to go towards the next investment.

Should i be setting up an off-set account with my PPOR?

Geez – I'm confused after typing that, I hope you guys understand!

Any help would be appreciated!

Thanks
Jess