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Introductory rate home loans are often refered to as honeymoon rate home loans which offer a reduced interest rate for a specified period of usually 6 – 12 months. At the end of this period the introductory rate home loan usually reverts to the standard variable rate on offer at that time.

The introductory rate allows borrowers to repay the principal back faster by setting repayments at the variable rate that applies to these loans at the expiry of the honeymoon term. Borrowers need to be aware of any penalties that apply to these loans and acknowledge that the loan subsequent the introductory period may not provide access to long term savings.

Pre-Approval