Loan comparison: buying a home with loans.com.au?

[Terry_w]

Hi Terry,

Thank you for your questions, and yes you are correct the offset has its own separate account, and each account is issued its own statements, along with the ability to view each account online.

Jason, thanks for the reply. Your answer is a bit unclear though.

What I am trying to ascertain is if the loan and the savings account are separate accounts with separate numbers. Would it be similar to say an ANZ loan and an ANZ offset account?

 

[Loanscomau]

Jason, thanks for the reply. Your answer is a bit unclear though.

What I am trying to ascertain is if the loan and the savings account are separate accounts with separate numbers. Would it be similar to say an ANZ loan and an ANZ offset account?

Thanks Terry. In order to clarify, the offset account has a separate account number to the loan account.

Kind regards,
Jason
loans.com.au

 

[Terry_w]

Thank you Jason,

Well then it would probably be ok from a tax point of view - but everyone should seek their own tax advice.