Thanks Lincoln!So  i park the 50K in an offset account against the $240K i owe now – then i keep paying off the same amount of money i am now , but the interest generated is less, therefore reducing the primary amount faster? Have i got that right?If so, come tax time, do i claim deductions on the interest for $240k or $190k ?

Thanks Lincoln, much appreciated.My wife and i can come up with the $50k coming in the next few months from another investment so we could come up with the money required for deposit if we needed to, Should i use this 50K as the deposit for the new home, or should i dump it on my current property to decrease the debt on it?Thanks!