Introductory or honeymoon rate home loans offer you a discount off the standard variable interest rate at the beginning of your home loan. The discount can be up to one percent off the standard variable rate and is usually for the first 6-12 months of the home loan.
After this period has expired, the interest rate will revert to the mortgage lender’s standard variable interest rate.
Advantages of an introductory home loan
Disadvantages of an introductory home loan
Interested in getting a home loan with an introductory low-interest rate? Let our loan experts from Intellichoice secure the best possible deal for you. Hit our contact page and talk to a broker today.
Our team of experts spends the time to find out about you and your circumstances. We will determine the best options for you based on your earnings, any debts you might still have and your current needs and objectives.
You should seek pre approval before entering into an introductory home loan arrangement. The reason is simple, building is a complex excerise requiring good co ordination and technical skills.
Lenders are aware of the complexity home builders face, and the possibility of costs over runs. This comes primarily from in-experience with managing this type of project. Hence most lenders are not generous when it comes to lending at high LVR’s on an Introductory Home Loan.
Our mortgage broking is second to none. Don’t waste your time and money running around from bank to bank, sifting through ambiguous loan offers only to find they don’t work. Take advantage of our expertise and let us find the right loan or finance to suit YOUR needs.