Hi everyone,
I'm just looking into my finances at the moment as we are planning on building a house. I've read up alot on how an offset account and paying your mortgage weekly can help you reduce your mortgage.
But what has gotten me confused is this: If I have money in the offset account, does it matter whether i pay the mortgage on a fortnightly or monthly basis? Whether the money goes into the loan, or sits in the offset account, it still works out to be the same.
I'm not sure whether i'm making myself clear or not, but can anyone enlighten me?
Thanks.