No email for me either . <| sep |> I ' ll take one ticket for this wild ride please ! <| sep |> You could search up the other 1000 topics in the past week about Lewis and come closer to the answers <| sep |> I ' ve done something similar , borrowed $ 350 , 000 basically as bridging finance , which turned out not to be needed , so offset it immediately with the full $ 350 , 000 in the offset account . It is an interest only loan , so basically not costing me anything . Seems nice to preserve the option of keeping it as a rental property if I buy elsewhere and having interest deductions . I actually made that mistake previously , and had a fully paid off exresidence as an IP while I was paying interest on the new PPOR . Probably didn ' t make much difference as the capital gains were so ridiculously good at that time , but was a bit annoying . I have no plan to move , just keeping the offset loan in case , but I do have a vague uneasiness about the fact the bank does have a mortgage over the place , even though it is effectively paid off . It is possible to imagine some scenario where the lender goes bankrupt , loses the money in my offset account , but passes on the mortgage debt to someone else to collect . No idea if that is technically or legally possible . Easiest to just leave it now it is set up . I may reconsider when the interest only period runs out , not that it really makes much difference , would just mean my offset and paid proportion will start to change . Would be interest if anyone thinks there is a real risk in keeping a fully offset loan vs taking full ownership .