Use savings to pay chunk of mortgage or have an offset account?

[maggiethecat]

Heard something on tele today that in current climate it's probably better to have offset account than pay off chunk of mortgage. They did not go into detail other than that you'd have greater access to money with an offset.
I'm toying with idea of paying chunk off mortgage since savings are not earning anything - any views?

We have an offset and it works well - we are self-employed and it's nice to know we have access to savings if necessary.

Downsides - the interest rate is fairly high comparatively - we're with the One Account and they have been very bad at pasing on rate cuts.

Also, when we had a repayment mortgage before I did quite like seeing our mortgage go down. With the offset it's not as clear cut and you do need to be disciplined enough to leave an amount in the account to cover the repayment part of the loan - that's how ours works anyway

will have a look but am tempted to go with paying off chunk and reduce monthly payments.