Sorry Luke but when we took on a mortgage, we did not know if we would be taking up an investment property 5 years down the line and that line of credit is not a great product for mortgage. We did speak to an accountant then and are speaking to one now!

Thanks Jamie. We are Seeing an accountant soon so should help. The fixed expires a couple of months before our house will be ready to move in. So the break costs are not a concern.

It sucks because my understanding is that you can claim tax deductions on an offset account. Our banker has advised us to refinance our current property and release all the equity to then take an offset account. That way we may be able to claim tax deductions, not sure if that is right advice…..