Introductory rate or ‘Honeymoon’ Loans

Home Loans Introductory rate or ‘Honeymoon’ Loans

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.

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

What’s involved in obtaining a loan through Intuitive?

Process begins

Step 1

1 hour initial meet to establish financial and lifestyle goals, discuss fact find document and agree timeline for return of such

Step 2

Submission of fact find

Step 3

Within 5 days of completion of fact find – written strategy submitted to you

Step 4

Within 2 days of agreement to proceed – documents lodged with Institution

Step 5

Within 1 to 3 days of lodgement expect conditional approval

Step 6

Within 2 to 4 days after conditional approval expect unconditional (full) approval

Step 7

Within 2 to 5 days after unconditional approval, expect loan documents to arrive

Step 8

Within 3 to 5 days of signed Loan Documents submitted, expect Loan settlement

Step 9

Total process generally takes between 4 and 8 weeks
Process ends

The 8 Things First Home Buyers Need to Know About Finance

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