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Sure, that clarifies what you said. I don't see how it makes any difference though - they are both non-deductible debt so the interest and tax bill works out the same overall? What's the point of opening another account (an offset) in this case?

???? I've never had a LOC, but surely if you pay money into it you are reducing the balance and hence reducing the interest Lynn? I would have thought the reasons to go offset rather than LOC would be contamination of loan (which is irrelevant in the PPOR / personal LOC) and control (bank...