Annandale 2038

Mortgage Broker Annandale 2038

Glynn Finance is a finance broking business specialising in property finance solutions that suit the individual customer's requirements. We source the best product for your specific needs. We have direct accreditation with over 25 Australian Banking Institutions. This enables us to match the best product to you.

Our Brokers and Credit Team have over 50 years' experience. Not only do we deal with the top tier banks, we have a full suite of lenders who also specialise in vehicle finance, SMSF Lending, Residential and Commercial Property investors.

For a more precise estimate of your borrowing capacity contact our mortgage specialist today.

 

Off -Set Account Annandale 2038

An off=set account is a separate bank account to the loan account with the same institution as the loan account. It allows funds to rest in that account (savings) and be allotted to the loan account for interest savings.

You can make deposits and withdrawals from it as you would any regular transaction account. Via internet account or debit card.

Example
Home Loan Account: $350,000
Off-set Saving account: $30,000

Interest would only be charged daily on the outstanding balance of $320,000. If you took $2,000 out the next day intertest would be calculated on $318,000 for that day.

The interest repayments are generally calculated on the outstanding loan amount at the end of each business day, multiplied by the interest rate that applies to your loan then divided by 365 days (or 366 in a leap year).