Mortgage offset account
Quantum Finance arranges offset home loans in Perth: the balance in your offset account reduces the amount of your loan that interest is charged on, while the money stays available to you at any time.
- A transaction account linked to your loan, reducing the balance interest is charged on.
- The money stays available to spend or withdraw at any time.
- Worth more than a small rate discount for a household holding a cash buffer.
- Worth nothing to a household that runs its account to zero each fortnight.
- Years broking
- 21+Years broking
- Loans settled
- $1B+Loans settled
- Credit licence
- ACL 389083Credit licence
- Lenders compared
- 40+Lenders compared
Our awards and recognition
Awarded by the people who see every broker’s numbers
Diamond Club
2026
Money Quest Group
Diamond Club
2025
Money Quest Group
Diamond Club
2024
Money Quest Group
Mortgage Broker of the Year
2023/24 — National, highest dollar volume settled
Southern Cross Broker Network
Excellence in Finance, Gold
2021
PLAN Australia
Excellence in Finance, Gold
2020
PLAN Australia
Hall of Fame
Valued partner, 15 years
PLAN Australia
Elite Broker
2021
Broker Value Proposition
Premium Broker
ANZ
Individual Excellence Award
2016
Specialist Finance Group
Sales Excellence Award
PLAN Australia
Sales Master Award
PLAN Australia
Top 100 Brokers
Four times
Australian Broker
What our offset home loan service does
The work we do on an offset loan, from the arithmetic to the placementAn offset account is a transaction account linked to your home loan, and money sitting in it reduces the balance that interest is calculated on. The work is proving it pays for itself on your figures, then attaching it to the right loan with a lender whose terms are worth having.
Most residential loans are paid for by the lender through commission rather than by you. Where a fee would apply, we tell you before you apply, in writing.
An offset that never holds a balance is a feature you are paying for and not using. We would rather tell you that before settlement than have you discover it two years later.
We work out whether the offset pays for itself
A loan with an offset usually prices above one without, or carries an annual package fee. The test is whether your typical balance saves more than that difference costs. We run it on your actual account balances rather than on an assumption about how you spend.
We compare offset terms across 40+ lenders
Offset accounts are not identical between lenders. Some are full offset and some reduce only part of the balance, some allow several sub-accounts and some charge for each, and availability against a fixed portion differs entirely by lender.
We put the offset against the alternatives
Redraw returns extra repayments you have already made, and a basic loan drops the offset for a lower rate. Each is the better answer for some households. Comparing all three on your figures is what stops you paying for flexibility you were never going to use.
We place the offset against the right debt
For an owner with both a home loan and an investment loan, the offset generally belongs against the non-deductible debt. Getting this the wrong way round costs money quietly for years. The tax treatment is your accountant's call, and we structure the lending to support it.
We prepare and submit the application
We put the file together so it lands properly the first time, then submit it to the lender we have chosen. Applications fired off to see what sticks are what damage a credit file, so we assess against policy before anything goes in.
We revisit the decision as your balances change
A household with no use for an offset can acquire one, and a household that had a buffer can spend it. We diarise a review so the loan still matches how you hold money now rather than how you held it at settlement.
How offset accounts are offered
Six offset arrangements, and who each one tends to suitBorrowers use the word offset as though it means one thing, and lenders offer several versions of it. The differences below decide how much of your balance actually reduces the interest you pay.
- Full offset
Tends to suit
Borrowers who want every dollar in the account counted
Worth knowing
The whole balance reduces the amount interest is charged on, and it is the arrangement most borrowers assume they have
- Partial offset
Tends to suit
Borrowers taking a product where a full offset is not on the table
Worth knowing
Only part of the balance counts, so check the terms before assuming the saving
- Multiple offset sub-accounts
Tends to suit
Households that budget by bucketing money into separate accounts
Worth knowing
Convenient for organising savings, and some lenders charge per account
- Offset against a variable loan
Tends to suit
Most owner-occupiers
Worth knowing
The standard arrangement, and the feature that makes a full-feature variable loan worth its price
- Offset against a fixed portion
Tends to suit
Borrowers who want certainty and an offset at once
Worth knowing
Offered by some lenders and not others, which is a common reason to split a loan
- Offset against non-deductible debt
Tends to suit
Owners holding both a home loan and an investment loan
Worth knowing
Generally belongs against the home loan, and the tax treatment is a question for your accountant
Knowing the difference does not hurt. Do not stress about the variations, though — tell us what you typically hold in your accounts and what else you owe, and we work out which arrangement earns its keep.
Who offset home loans suit
The households that actually gain from an offsetAn offset rewards a household that holds a balance rather than one that spends to zero. These are the situations where it earns its keep.
Households in Perth that hold a genuine cash buffer between pay cycles
Self-employed borrowers holding GST and tax money until it is due
Investors keeping the offset against non-deductible debt rather than the investment loan
Borrowers expecting a bonus, a settlement or an inheritance they may need back later
Households saving for a renovation or a car who want the money working meanwhile
Anyone paying for a package with an offset attached and never using the account
How our home loan process works
Five steps, from the first conversation to settlementAn offset loan runs through the same process as every loan we write, with the arithmetic done before anything is submitted. Here is the whole thing, start to finish.
Start an application
You send us the basics and we work out what you could borrow and which lenders will look favourably at your situation.
Read this step in full: Start an applicationWhat you need
Income, debts, deposit
Get pre-approved
We put your file to the lender that fits and bring back a pre-approval in writing, subject to lender approval and your circumstances.
Read this step in full: Get pre-approvedWhat we do
Match the lender to your file
Get officially approved
Once your offer is accepted, the lender orders its valuation and issues formal approval.
Read this step in full: Get officially approvedWhat we do
Chase the lender, so you do not have to
Prepare for settlement
We go through the loan documents with you before you sign anything, then coordinate the lender and your settlement agent.
Read this step in full: Prepare for settlementWhat you need
Your questions, asked early
Stay up to date
After settlement we keep the loan under review as rates move and your circumstances change.
Read this step in full: Stay up to dateWhat we do
Review it, and tell you first
Step 1 of 5 · Start an application
About our independent mortgage brokers
The brokers who work out whether the offset is worth itIndependent means no franchise above us and no lender owning a share of the business. Nobody upstairs sets a monthly target, so we are free to tell you the package is not worth its fee. Your bank offers its own offset; we compare 40+ lenders.
Gavin Harrigan has been broking from West Leederville since 2005. Today it runs on a small team, Gavin Harrigan, Justin Richardson and Xavier Prescott, each with their qualifications on the page. You deal with the person who writes your loan, before settlement and after it.
The work runs from a first home loan, through refinancing and investment lending, out to construction, small developments and commercial property. Same broker, whichever end of that you are at.
- VerifiedBroking since 2005
- VerifiedOver $1 billion in loans settled
- VerifiedAustralian Credit Licence 389083
- VerifiedMoneyQuest accredited
- VerifiedMember of the Finance Brokers Association of Australia (FBAA)
- Verified40+ lenders on the panel
Fifteen minutes is usually enough to tell you where you stand. No cost, no obligation, and any lending is subject to approval and your circumstances.
Why choose us for an offset home loan
An offset is arithmetic, not a selling pointEvery point below is a consequence of how this business is owned, not a slogan about service.
- Included
No franchise, no head office quota
We do not pay a franchise fee, so nobody upstairs sets a monthly target for us to hit. That removes the main reason a broker recommends the wrong loan.
- Included
No lender owns a share of us
The banks have no stake in this business and no claim on where files go. Your bank has one loan to sell you. We do not.
- Included
40+ lenders, one shortlist
We compare 40+ bank and non-bank lenders, then explain why the shortlist looks the way it does. Policy differences decide more applications than rate does.
- Included
We will tell you when the answer is no
If refinancing does not actually save you money, we say so and you leave the loan where it is. A wrong loan costs more than the fee it earns.
- Included
The same broker after settlement
You keep dealing with the person who wrote the loan. We review it as rates and your circumstances change, not once and then never again.
What our clients say
In their words, not oursReviews left by people we have settled home loans for, pulled straight from the platform they were written on.
Our lender panel for offset loans
Offset terms differ by lender. We compare 40+Major banks, second-tier banks, and non-bank lenders whose offset terms differ from the majors. MoneyQuest gives us access to the panel. 21+ years of writing loans on it tells us whose offset is worth what it costs.
A selection of the lenders we are accredited with. Ask us who else is on the panel for your situation.
Our home loan guides
Read one before you pay for a packagePlain-English answers on borrowing capacity, pre-approval and what a broker does that a branch does not. Each one carries a broker's name.
Borrowing power
How much can I borrow?
Income less commitments, tested at a rate higher than the one you would pay.
Read it: How much can I borrow?
First home buyers
The First Home Owner Grant in WA
Who qualifies, what it is worth, and every figure dated to its WA Government source.
Read it: The First Home Owner Grant in WA
Approvals
Home loan pre-approval, explained
What a lender is actually committing to, and what can still undo it.
Read it: Home loan pre-approval, explained
Buying a home
How to buy a house in Australia
The whole sequence, in the order it happens, with the finance in the right place.
Read it: How to buy a house in Australia
Meet our Perth mortgage brokers
You get a broker, not a call centreThree people, all named, all reachable. The person who runs the offset arithmetic is the person who writes the loan and the person who revisits it later.
Gavin Harrigan
Managing Director
Broking since 2005, four-time Top 100 broker and a PLAN Australia Hall of Fame member.
- Bachelor of Commerce, Applied Finance and Commercial Law — Curtin University
- Diploma of Finance and Mortgage Broking Management — AAMC Training Group
- PLAN Australia Hall of Fame member
- Elite Broker status
- Top 100 Brokers, four times
Justin Richardson
Loan Consultant
Business and law background, and a habit of making the process feel simple.
- Bachelor of Commerce, Business Law and Marketing — Curtin University
- Bachelor of Laws (in progress) — Murdoch University
Xavier Prescott
Loan Consultant
Fresh qualifications, a competitor's discipline, and a lot of patience.
- Diploma of Finance and Mortgage Broking Management
Common questions about mortgage offset accounts
What is an offset account, and is it worth paying for?
Money sitting in an offset account reduces the balance you pay interest on while staying available to you. For a household with a decent cash buffer that can be worth more than a small rate discount. For a household that runs its account to zero every fortnight it is a feature you are paying for and not using.
How does an offset account actually save me money?
Interest is calculated on your loan balance less the balance in the linked offset account. Reducing the amount interest is charged on reduces the interest itself, and because the repayment usually stays the same, more of it goes to the principal. The money in the account remains yours to withdraw.
What is the difference between an offset and redraw?
Redraw lets you take back extra repayments you have already made against the loan, so the money has been paid in. An offset is a separate account whose balance sits beside the loan rather than inside it. The distinction matters for access and for the tax position on an investment property.
Can I get an offset account on a fixed rate loan?
Some lenders offer an offset against a fixed portion and many do not, so it depends entirely on which lender writes your loan. It is one of the most common reasons borrowers split a loan, keeping a variable portion with the offset attached. We check the policy before recommending a lender.
Is a 100% offset different to a partial offset?
A full offset counts the whole balance in the account against the loan. A partial offset counts only a portion of it, so the saving is smaller than borrowers usually assume. The terms are set by the lender, and it is worth reading them rather than relying on the product name.
Should the offset sit against my home loan or my investment loan?
For an owner with both, it generally belongs against the non-deductible debt, which is usually the home you live in. Getting it the wrong way round costs money quietly for years. The tax treatment is a question for your accountant, and we structure the lending to support their advice.
How much do I need in an offset for it to be worth having?
Enough that the interest it saves exceeds what the feature costs you in rate difference or annual package fee. There is no universal threshold, because it depends on your loan size, the pricing difference and your typical balance. We run the comparison on your figures before you choose the loan.
Related home loans we arrange
What borrowers usually read alongside an offsetMost files touch more than one of these. If yours does, it is the same broker and the same conversation.
Standard Variable Home Loans
The full-feature variable loan, with offset and redraw and a rate that moves.
Learn moreabout Standard Variable Home Loans
Basic Variable Home Loans
A lower rate for fewer features, costed against what the offset was saving you.
Learn moreabout Basic Variable Home Loans
Investment Property Loans
Buying your second property or your fifth, with the structure set up to keep going.
Learn moreabout Investment Property Loans
The information on this page is general in nature and does not take into account your objectives, financial situation or needs. Any figures shown are estimates only. Lending is subject to approval, and to the lender's terms, conditions, fees and charges. Consider whether the information is appropriate for you before acting on it.
Get in touch
Talk to us about an offset home loanFour questions and you are done. A broker reads it, works out whether an offset earns its keep for you, and rings you back on the number you give us.
Would rather just talk?
Ringing is quicker than waiting for us to ring you, and you get a broker rather than a queue.
1300 813 113