General information only — not financial advice. Consult a qualified financial adviser, mortgage broker, or tax professional before making any financial decisions.
Yes — for owner-occupier loans there are no legal restrictions. However, using investment property loan redraw for personal purposes destroys tax deductibility on that portion.
For owner-occupiers wanting simplicity: redraw is fine. For investors or those who may convert their home to a rental: offset accounts are significantly better — withdrawals don't affect deductibility.