I've got a basic (hopefully) question about having multiple loans and multiple offset accounts. Without going into too much detail, my situation is:
- * Two mortgages, each with the same interest rate
* Call one mortgage $200,000 and the other $250,000
* A 100% offset account linked to each mortgage
In my understanding, it doesn't matter if I put all of my savings in one offset account, or in the other account, or whether I split it up evenly between the two...this is because the total mortgage amount is offset by the total savings amount.
Is this correct? Or should I be putting some savings into both offset accounts?