Rates crunch: How could using super to offset your mortgage really stack up?

Politicians have long pushed the idea of using superannuation for housing, with a recent senate inquiry examining whether it should extend to offsetting your mortgage. Whether Australians should be allowed to raid their super to ease mortgage pressure is shaping up this year as a heated fault line in federal politics.With interest rate rises squeezing households budgets and property values declining, options to ease the burden on homeowners and prospective buyers are firmly in the spotlight.The Liberal Party says younger Australians are locked out of housing while sitting on inaccessible super, so why not use it now?The Super Home Buyer Scheme - first proposed in 2022 - looks to let first-home buyers withdraw up to $50,000 for a deposit (capped at 40% of their balance).The latest senate enquiry was held in September and looked at whether Australians should tap super before retirement as a deposit, loan collateral or a mortgage offset which could reduce monthly interest and pay down a loan faster.A senate enquiry on the issue was held in September. Picture: Hilary WardhaughConcern over the impact on home prices and how much it could disadvantage Aussies come retirement time was the ...