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Two home loan features can save big money but are widely misunderstood

There are two main facilities on a family home loan that should exist in anyone's tax planning toolbox but unfortunately, they are often misunderstood or improperly used.

Thoughtful couple reading a letter sitting on a couch in the living room at home.
Choosing the right mortgage product can equate to savings of tens of thousands of dollars.

There are two main facilities on a family home loan that should exist in anyone's tax planning toolbox. Unfortunately, they are often misunderstood or improperly used.

Variable home loans are generally more likely to offer features like an offset account or a redraw facility, which are two alternative options that help homeowners reduce their mortgage repayments.

Both tools have contributed to the record rate of debt repayments seen across the …