Most people have their paycheque deposited into a regular chequing account where it does nothing for them. At the same time, they’re carrying a mortgage balance that is costing them interest every single day. An offset mortgage can be a smart way to reduce that interest and pay down your mortgage faster without changing your lifestyle.

At its core, an offset mortgage combines your chequing account, line of credit, and mortgage into one product. That means your money can start working for you the moment it hits the account.