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I understand how offsets work but not the scenario with an IO loan where the amount in the offset equals the loan. Would the bank simply not take out any repayments on the loan until it the offset account is less than loan amount?

Thanks for the info guys. The idea being it would be a separate equity loan. If I am making interest only repayments on the loan before it is used, I was hoping to be able to effectively get back those payments (by using offset) to have maximum cash available. e.g After 12 months of the...

I was thinking on refinancing my existing PPOR to get access to equity (take up to 80%) or a future property purpose. I currently have an offset account for our current loan. As an example, lets say I refinance and get access to an additional $100k. It may take a while to find this property...