Offset Mortgage

How an Offset Mortgage Can Help you Save Thousands on your Home Loan

Channelling your everyday income and savings onto your mortgage can have a dramatic effect on the total interest payable and the term of your home loan.

 Less interest charged, mortgage free faster! It’s that simple.

 On average based on a $900,000* Home Loan our clients are on track to save no less than $220,000 in interest and shave 13 Years off the life of their loan.

 It’s all about making your money work harder for you and not for your bank. Even if you only have a little savings and left over money every month, a personalised mortgage structure will work wonders for you. 

 This is the beauty with Revolving Credit and Offset Mortgages…

 The downside with Revolving Credit is that there is one account only. 

 If you like to operate 3,5 or even 10 different bank accounts and they all have their designated reasons and purpose, then Revolving Credit will be an absolute nightmare for you.

 With Offset Mortgages, depending on the bank you can have up to 50 different bank accounts linked to your Offset Mortgage and still reap the benefits!! 

 

Yes you truly can have your cake and eat it too. 

So How Does Offset Mortgage Work?

With an Offset Mortgage, your savings and everyday income is linked and Offsets (it’s in the name right!?) your Mortgage Interest.

Once again less interest charged = Mortgage Free Faster. 

 

Examples and the Benefits:

 

  • If you have a $500,000 mortgage and $40,000 in cash savings across ALL of your different bank accounts, you’ll only pay interest on $460,000.

     

  • Yes for all intents and purposes your Mortgage is now only $460,000!

     

  • You won’t earn any interest on your cash savings as you usually would while it’s part of the offset mortgage. Not to worry mortgage interest is far higher than interest you can find with a bank Term Deposit. Besides, any Interest you earn is actually Taxed (PIE Tax)!

     

  • In case of emergency or loss of employment your everyday money and $40,000 savings is right at your disposal.

In our example on the video in this article, we presented a $500K mortgage and placed an Offset of $40K. It would look something like this

Surprisingly, this is a super quick and easy process where all of the leg work is handled by us. Chances are, with what could be as little as 20-30 mins of your time, this could translate to years off of your mortgage.

Get our advice for free

Great advice usually has a cost, but our expertise is free to first home buyers because the bank pays us! Banks pay us a commission because we are essentially doing all of the hard work for them. Most importantly we are strictly ‘unaligned’ which means we are not obligated to do business with one particular bank over any other, which means you’re always getting the best options and advice based on which bank is best for you.

See what our clients have to say

Social Rating
5.0
Based on 29 reviews

Excellent service. I highly recommend Matt and his team A+
Ma Hemar
Ma Hemar
03:38 25 Dec 23
Onestop has been the biggest help with buying our house. Matt and Rue especially have put quality into their work. Matt explained everything in detail including making educational videos on what was happening going through the entire process step by step. Rue helped with completing all work with great urgency when we had last minute changes to our documents. The work that this team has produced given us the best opportunities. Biggest recommendation.
Carlos Flores-lim
Carlos Flores-lim
09:48 19 Dec 23
Absolute pleasure to work with Matt and his team. Achieved great success in purchasing our new home.
Stephanus Dorfling
Stephanus Dorfling
07:33 18 Dec 23
Matt Has provided me some great information on both my kiwi saver and insurance. He was able to save me money as well as get me more coverage on my current policy. His kiwi saver information was fantastic. Matt took the time to understand my needs and morals around where my money would be invested and provide me a couple of options to look at. If you want someone who has lots of information up to date on technology and provide you honest and good results Matt is your guy
Dominic Earl-Peacock
Dominic Earl-Peacock
23:37 04 Dec 23
This is now the second time I have used Matt for his financial services and he delivered again in a rough period for banks lending too. I would definately recommend him to anyone looking for a broker as he makes the whole mortgage process very simple. Thanks Matt for all the amazing work you have done for us!
Terry Hill
Terry Hill
18:59 03 Oct 23
Using Matt and his team was a game-changer. From the get-go, their clarity in communication and promptness in response stood out. Their in-depth knowledge of products across home loans, insurance and KiwiSaver gave me the confidence that I was making the right choices. The cherry on top? Their warm and welcoming nature that made the entire process feel like a breeze. A great experience from start to finish – can't recommend them enough!
Josh Kumar
Josh Kumar
22:13 27 Sep 23
Matt & team. Thanks for the super effort and guidance through the mortgage application process. Best in the business and can highly recommend Matt's services.
Brenda Lesser-Dorfling
Brenda Lesser-Dorfling
02:36 27 Sep 23
A couple of years ago Matt showed me an amazing spreadsheet which led to me buying another house which I’m about to settle. Everyone should know what Matt taught me. He and his team have been amazing with their advice and facilitation of everything. Can’t speak highly enough about Matt and his team.
Ngawai Henare
Ngawai Henare
02:06 31 Jul 23
Matt is awesome to work with. Made purchasing our 1st home easy
Marie Kite
Marie Kite
21:14 26 Jun 23
Matt and his team is really great at what they do... always keep you posted on the proceedings and give genuine advice.Keep up the great work @Matt Willoughby
VIKAS JARIYAL
VIKAS JARIYAL
02:42 01 Mar 23
Patient and knowledgeable. Matt guided us through our first home purchase and, a few years later, organised insurance for the family (with a pretty non-standard situation and series of requests). Thanks again!
Damian Sycamore
Damian Sycamore
21:12 08 Dec 22
I absolutely 100% recommend Matt. Not only is he damn good at what he does, Matt also humanises the whole industry and process. Before Matt was my broker I found everything so daunting but Matt made everything easy and took so much stress off me - giving so much help, guidance and simplifying every step of the way. Most importantly, he made getting my dream home happen!
Angie F
Angie F
21:21 29 Nov 22
Matt is a highly efficient professional. He’s a pleasure to deal with and was very helpful in coming up with a plan that suited our situation.He’s an investor himself so can provide sound advice around building a property portfolio unlike a lot of brokers who only know loans and insurance.I highly recommend his services and look forward to using Matt again for our next investment property.Thanks mate 😁
Mitchell Nock
Mitchell Nock
09:34 11 Nov 22
Matt is an excellent financial advisor who guided us through the tricky process of securing our mortgage. Very thorough and professional, yet friendly and relatable would be how I would describe Matt’s approach.
Dan Frost
Dan Frost
19:16 08 Nov 22
We were over the moon when we found out our finance had been approved for this beautiful home. We purchased a home for our parents as they were getting the boot out of their rental and it was important that we gave them a stable home. Would definitely recommend these guys and will return.Thanks again Matt
Nicole Faulkner
Nicole Faulkner
21:23 02 Oct 22
Matt and the One Stop team were incredibly helpful securing my mortgage and insurance. He thought out side the box and worked hard to overcome a few hurdles along the way. He was incredibly professional yet relatable and approachable. He made my first home buying experience incredibly smooth and easy. Thanks Matt!
Gavin Woodward
Gavin Woodward
21:57 19 Oct 21
A great help. made things so much easier for us
Baby Online
Baby Online
04:58 08 Jun 21
Wow what can I say, my first home buying went so much smoother than I ever imagined! I knew absolutely nothing about mortgages and Matt had explained everything in terms I could totally understand. He made the whole process smooth and seamless, without much work from us because him and his team had done it all! Thank you so much for everything you've done so far 🙂
Olivia Atrushi
Olivia Atrushi
02:47 08 Jun 21
Matt Willoughby and TeamProfessional, Caring and ProactiveWords cannot explain how grateful we are to work with Matt and his team to buy our very first home. They made the impossible possible. We were delighted by their professionalism and how proactive they were throughout this whole process. Matt and team got our trust from day 1 cos he showed that they care and will do everything possible to make things work. To Matt, Dave and the rest of the Team Matt Willoughby East Tamaki. Thank you so much for your guys relentless effort. We are proud first home owners and we forever appreciate you.
ea faletau
ea faletau
04:10 16 Apr 21
Matt was easy to work with and did a great job of negotiating good rates for our mortgage. Our pre-approval came through really quickly thanks to Matt and his team. We found the advice received on how to structure the mortgage very clear and helpful.
Natalie C
Natalie C
08:28 07 Apr 21
Matt and his team were amazing during the entire house hunting and purchasing process. We crossed the line with a wealth of knowledge thanks to Matt taking the time to simplify and considerately interpret the sometimes confusing nature of having a mortgage. Thanks again.
Matt Setefano
Matt Setefano
19:42 24 Feb 21
I will recommend Matt to everyone. My partner and I owe him for helping us get into the Auckland property market. Not only is he professional, simplifies the daunting process of purchasing a home. He is always a phone call away when you have any questions (very quick in returning a call).When issues or concerns were raised by the bank, Matt went into fight for us and got us across the line.Thanks Matt, five stars ⭐️ ⭐️⭐️⭐️⭐️
Paul Norman
Paul Norman
05:35 29 Sep 20
My husband and I had a 3year goal in place to buy our first home. A friend of ours told us about Matt Willoughby so i sent him a text. Matt and his amazing team were able to help us buy our first home in less than 6months. What seems impossible quickly became a reality for us.Although a few hiccups on the way, matt was able to quickly fix it and inform us along the way. Ive seen people go through this process of buying a home and being stressed, but our experience was great! absolutely recommend Matt and his team.Thanks again Matt and team for helping us.
Vaioleti Atiola
Vaioleti Atiola
03:08 21 Feb 20
Our dream of being first home buyers seemed unreachable until we found Matt! Thankyou so much for the awesome advice and encouragement along the way. Excellent!!
Melanie Boyce
Melanie Boyce
05:06 28 May 19
We would not have been able to fulfill the kiwi dream and buy our first home if it was not for Matt Willoughby Ltd. They respond quickly and were able to communicate in a way that let us understand the entire process. Will use again for any lending in the future.
Tim Booth
Tim Booth
01:15 23 May 19
Absolutely fantastic, really communicative and patient for a first-home buyer that hasn't gone through this process before. Would highly recommend his services.
Shane Henderson
Shane Henderson
03:24 08 Mar 19
Matt Willoughby you have helped both me and my partner so much! You have exceeded all expectations and gone above and beyond! Matt helped me and my partner re-finance our mortgage he helped us with everything! It was a struggle as it felt like everything that could go wrong went wrong but he persevered and not only got us a "good" interest rate he got us the BEST interest rate and the BEST repayments. I would highly recommend Matt as he makes the impossible happen and doesn’t pass that stress on! Matt you are amazing take credit you deserve this so much you literally ease the stress and you take the weight off your client’s shoulders! You have done an amazing great job Thank you SOOOOOOOOOOOOOO MUCH 100+ Stars 🙂
Flo & Geoff
Flo & Geoff
20:45 20 Dec 18
So helpful! Matt helped secure us a really good rate with great cash back and a loan structure that will take years off our mortgage!
Laura Thompson
Laura Thompson
20:10 06 Dec 18