Introductory rate or ‘Honeymoon’ Loans
An introductory rate loan generally offers a guaranteed low rate for an initial period of time (usually 12 months) after which most will revert to the standard variable rate. The rate can be fixed or variable.
Introductory rate or ‘Honeymoon’ Loans
Advantages
- Usually the lowest rates on the market
- Some lenders provide offset accounts on these loans
- Opportunity to reduce the principal quickly during the ‘honeymoon’ period
Disadvantages
- Payments will increase after initial introductory/’honeymoon’ period
To do's
- Contact us to discuss your initial thoughts and requirements
- Complete our finance application form covering the purpose for seeking credit and the amounts of credit sought
- We will then contact you to arrange an initial consultation, to agree the basic information required and the process for completing such
- Once that has been compiled we will review it and then provide a written strategy for you to consider
- If you’d like to proceed, we will then work with you on a formal loan application process
