Offset loans provide a unique way to reduce the interest you pay on your home loan by linking it to an offset account. At Intuitive Finance, we help you understand and maximise the benefits of offset home loans, ensuring you secure the best option for your financial needs.
What are Offset Loans?
An offset loan is a type of home loan that is linked to an offset account. The balance in your offset account is deducted from your
home loan balance when calculating interest, which can significantly reduce the amount of interest you pay over the life of the
loan. For example, if you have a home loan balance of $300,000 and $50,000 in your offset account, you will only be charged
interest on $250,000. This structure provides an effective way to save on interest while maintaining access to your funds.
ADVANTAGES
- Interest Savings: Reduce the amount of interest you pay by offsetting your loan balance with the funds in your offset account.
- Flexible Access: Access your money in the offset account whenever you need it, providing liquidity and flexibility.
- Potential Tax Benefits: Interest savings are not considered income, potentially offering tax advantages.
DISADVANTAGES
- Higher Fees: Offset loans can come with higher fees compared to standard home loans.
- Discipline Required: Requires disciplined saving to maintain a significant balance in the offset account to maximise benefits.
- Limited Availability: May not be available with all types of loans or from all lenders.
What’s Involved in Obtaining a Commercial Loan Through Intuitive Finance?
Initial Meeting
A 1-hour session to establish your financial and lifestyle goals, discuss the fact-finding document, and agree on a timeline for its return.
Fact Finding Submission
We will submit the completed fact-finding document.
Strategy Submission
Within 5 days of receiving the completed fact-finding, a written strategy is submitted to you.
Document Lodgement
Within 2 days of agreeing to proceed, documents are lodged with the institution.
Conditional Approval
Expect conditional approval within 1 to 3 days of lodgement.
Unconditional Approval
Expect unconditional (full) approval within 2 to 4 days after conditional approval.
Loan Documents Arrival
Expect loan documents to arrive within 2 to 5 days after unconditional approval.
Loan Settlement
Expect loan settlement within 3 to 5 days after submitting the signed loan documents.
Complimentary Obligation-Free Consultation
Discuss your specific needs and discover the best financing options for you. Get in touch to
organise your complimentary 60-minute session today!
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Our Commitment to the Community
With every loan we settle, you can choose to support Challenge – supporting
kids with cancer, the Movember Foundation, or the Lungitude Foundation.
We donate $20 to your chosen charity and make annual contributions. It’s our
way of giving back and helping those in need.