Redraw facilities and offset accounts work in a similar way – they both effectively allow you to reduce the balance of your home loan, which reduces the amount of interest you pay.
Knowing how to use your equity effectively and making it work for you could be an invaluable wealth-building tool.
Let’s look at what equity is, how it grows and how you can access it.
When it comes to your home loan, making sure you’re getting the most competitive deal is important. Even a small difference in your interest rate can mean thousands of dollars over the long run.
Property investment could be a great way to build your wealth and achieve your long-term financial goals.
Here are some tips to help you work towards building your property portfolio.