offset accounts and fixed rates

[devo76]

From what i understand you cant have a fixed loan with a offset. I was planning on moving all the funds from my LOC into a offset account and then when i believe rates to be at there bottom. I was going to fix. I was going to do this so that i had full freedom with the funds with a locked in rate. Apparently i cant do this.

So does this mean everyone out there with a offset account on there loan only have variable not fixed ? Is there another way around this ?

 

[joe jo jo]

From what i understand you cant have a fixed loan with a offset. I was planning on moving all the funds from my LOC into a offset account and then when i believe rates to be at there bottom. I was going to fix. I was going to do this so that i had full freedom with the funds with a locked in rate. Apparently i cant do this.

So does this mean everyone out there with a offset account on there loan only have variable not fixed ? Is there another way around this ?

Hi Devo,

there are a select few lenders who have a fixed with either offset or no restrictions on principle reduction. Adelaide Bank have the offset and Im pretty sure Heritage have a flexible fixed loan (flick it to interest only and dump your surplus in there).

 

[JIT]

Check this thread out devo76 :

http://www.somersoft.com/forums/showthread.php?t=47349