L laxation 2nd Jun, 2015 #1 We have money in our offset account with a fixed rate of 4.something% Does that effectively mean the offset is earning interest at the same interest rate, albeit it goes straight into the mortgage account?
We have money in our offset account with a fixed rate of 4.something% Does that effectively mean the offset is earning interest at the same interest rate, albeit it goes straight into the mortgage account?
Jamie M 2nd Jun, 2015 #2 Does your lender allow for interest to be offset against a fixed loan? Cheers Jamie
Jess Peletier 2nd Jun, 2015 #4 Assuming it's a 100% offset, its effectively 'earning' you what ever your fixed rate is, tax free.
T tj22 2nd Jun, 2015 #7 Jess Peletier said: Assuming it's a 100% offset, its effectively 'earning' you what ever your fixed rate is, tax free. Click to expand... you don't pay tax on a offset account? :O
Jess Peletier said: Assuming it's a 100% offset, its effectively 'earning' you what ever your fixed rate is, tax free. Click to expand... you don't pay tax on a offset account? :O
Jess Peletier 2nd Jun, 2015 #8 No - you don't earn any interest to pay tax on! It's offsetting interest instead. And there's the beauty...
No - you don't earn any interest to pay tax on! It's offsetting interest instead. And there's the beauty...
L laxation 3rd Jun, 2015 #9 WattleIdo said: Obviously TMBank. ? Click to expand... CUA 10 characters.
peaches 3rd Jun, 2015 #10 or Adelaide but BEWARE there are lots of lenders offer a partial offset on fixed rates and generally not worth a stamp.
or Adelaide but BEWARE there are lots of lenders offer a partial offset on fixed rates and generally not worth a stamp.