What's the negative of using an offset + minimum deposit?

Looking to buy a melbourne CBD apartment next year since its cheaper than renting even including strata/land taxes etc (and I also prefer living 2 minutes from the shops and want to live here) and looking into the available options, is there anything better than an offset+minimum deposit?

Offset is like a HISA but without the tax and severely reduces your total debt if you increase it every month. And the higher the loan rate, the higher the offset rate too.

Based on calculations you can finish the loan in around 10 years or less which means you have paid far less money overall than a 30 year loan to the bank, so you fund bankers way less.

You are safe for any emergency since you can use said account if you need money

I guess the monthly repayments are a but higher but considering im going for an apartment they would be more than manageable even if they went to 10%.

Like I am failing to see any real negatives, where's the trap? Yearly fees? Mainly looking through ubanks 10%+no lmi options

Currently looking into 220/200 spencer street apartments, the builder is still active so my main concern is alleviated since those arent the type or projects made by a special purpose vehicle company that disappears after the project is complete.