Need to refinance?

I currently have a LOC on the mortgage for PPOR which is turning into a IP (dont you love the all the acronyms), do i need to refinance to make it a IO offset account for easy management? or can i continue to use the LOC?

From what i researched the offset account is the way to go, but if i refinance will i still have access the funds that ive already paid off incase of an emergency?

If you are in a LOC now, you may have some challenges already if you have lived from this product and placed your salary into it and redrawn your living expenses.

Any refinance, properly structured will still allow access to the equity you have built subject to valuations and serviceabilty etc


As Rolf has mentioned probably a bit of quick footwork needed to restructure the loan correctly if it is not too late.

Often a clean slate can be better than trying to alter what is already set up wrongly in the first place.