Hi guys, Just a quick question (probably pretty basic for most of you..) I currently own a property in SA. The value of the property is ~$375,000 and my loan is at $310,000. I'm paying 5% PA, with repayments set to P+I. My minimum repayments are approximately $860/fortnight and since the first day I've made extra repayments, bringing the fortnightly repayment to $1,000. I'm now in a stable relationship and will be signing a contract with my partner to buy a new house in SA. We'll be splitting the loan 50/50 and subsequent repayments 50/50. My extra repayments have amounted to approximately $4,100. At this point, we have about $60,000 together which we'll use for a deposit. Since we'll be signing the contract before December 31st, we'll be eligible for the First Home Construction Grant (of approximately $1,250 of the $8,500 available) and also the full first home owner's grant of $15,000. My mortgage for my current property is with BankWest and savings/transaction account is with NAB. I do not have an offset account however do have a provision for it. I've spoken to a broker already, who is a friend of ours and has given us some good tips. Would it make sense to move my savings and transaction account over to BankWest, setup a fee-free offset account and shift my savings into that, as well as redraw (with the free redraw facility) the surplus cash and put that into my savings too? Estimated completion date is mid-2014 which gives me enough time to save more and save more on interest repayments in the short term before commencing our second mortgage. Thank you in advance.