I had a question on my blog regarding having other people offset your mortgage with their bank accounts.  So I thought today I would clarify.   Talk to the people who have money in their account, usually these would be members of your family, either those that are saving up for something, or those who have paid off their mortgages and have a little nest egg.   They will have it in a fixed deposit somewhere, earning a small amount of interest.  Have a conversation and find out how much interest they are earning per annum, not the percentage but the amount of money.  Also,  have a look at the interest you would be paying on that amount to the bank. Do the maths and make sure it works out for both of you.  Here is an example that I worked out using today's interest rates for both fixed term deposits and mortgage accounts. If you have a $100,000 revolving credit mortgage you have taken off a fixed mortgage.  You would have paid, at today's rate, around $300/ftnt on that amount for