An offset account is one of the most effective tools available on a home loan, but it is often misunderstood. This article explains how an offset account works, how it affects repayments, and what actually happens when the offset balance equals the loan balance. What an offset account is An offset account is a transaction account linked to your home loan. The balance in this account reduces the amount of the loan on which interest is calculated. Example Loan balance: $500,000 Offset...

When applying for a fixed-rate home loan, you may come across the option to lock in your interest rate for a certain period. This is known as a rate lock, and it can be a useful tool—especially if interest rates are expected to rise. This article explains what a rate lock is, how much it typically costs, and whether it might be the right option for your home loan. What Is a Rate Lock? A rate lock allows you to secure the fixed interest rate offered by the lender at the time of your loan...

When you're ready to make an offer on a house , preparation and clarity are essential. Whether you're a first home buyer in WA or an experienced investor, these tips will help protect your interests during the property purchase process . 1. Let the Agent Know You've Been Pre-Assessed Before submitting your offer, inform the real estate agent that you’ve already been assessed by a mortgage broker . This shows you’re a serious buyer with the financial capacity to proceed. You’re welcome to...