We have a fully offset home loan and make the monthly repayment from the offset. That way both move down equally and no interest to pay and repayment for us to find each month

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I thought the writer wanted to take 50k from offset and pay to the mortgage. Not what Paul said. Therefore the mortgage would be reduced and the person could either make lower repayments or keep them and pay the loan earlier. Not sure what this negative debit is??

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I wonder if the question was misunderstood by Paul. I read it as paying $50000 from the offset account onto the loan, thereby reducing the actual outstanding amount, but leaving the mortgage amount to offset balance the same, thus allowing the reduced repayments etc.

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I had thought that Tara meant that she would like to take $50000 from the $157000 offset to pay the loan down to $137000 and have $107000 in offset. In my case this wasn't as easy as it seemed it trigger us effectively having to apply to finance again of $137000, but is effective for lowering the repayments as you may get an extension on term too.

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I read it the same way as Marcaus and Peter - the writer was wondering about taking $50k from the offset and paying it directly off the mortgage. That seems quite logical to me - particularly with the recent job change for the writer and the potential job change for her husband?

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I agree, this is confusing. The aim is surely to reduce the mortgage and thus the repayments by moving from the offset to the mortgage. Debt free is surely the ultimate goal in this simple proposition?

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I am interested to understand how this works. I am about to get a lump sump inheritance and am contemplating whether I pay off the loan which I can do or how to manage it without paying interest. Thanks

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