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I probably want clear enough after re reading. Offest is a savings account linked to loan account to reduce interest, but re draw is money paid onto the loan directly to reduce owing then can be re drawn usually at a fee

This sounds like good advice to keep access to a loan when it may be difficult to get one! But isnt redraw just accessing money that is alredy yours? same as money in a savings account? Wouldn't you want the loan available to be able to borrow additional money on top of redraw?

lender will be with the current building society

Wiser person?? what about a young Old person? no matter which way i go i can't spit out a good one my basic understanding of insurance is you give them regular payments for an extended period...then you die. Its win win for them! But seriously, i have asked the question in another post and...

Thanks for the super fast responses They are both and have quotes for repair works, plus solicitors and engineers involved! Its a big job that will not increase the property value! Just prevent the house from falling down onto the neighbours house! Will the term of the loan be 25 years...

Gday guys, Family members have an issue coming up need to borrow some money. They are not investing or investors, PPOR only. It is needed for building repairs to their property. With the following scenario how would they go borrowing ~$200k Age: 58 x 2 married couple PPOR: $1.2m...