Redraw

Redraw is a financial feature offered by Australian home loan providers that allows borrowers to access extra repayments they have made on their mortgage. Rather than locking away additional payments, redraw lets you withdraw those funds if you need them for unexpected expenses or other purposes. This creates flexibility by letting you build equity faster through extra repayments while retaining access to that money, sitting somewhere between a standard loan and an offset account. It's particularly useful for homeowners who want to reduce interest costs but also need a safety net for emergencies or opportunities.