Introductory Rate Home Loans
Pros and Cons of Introductory Home Loans
- Low interest rate for introductory period – The interest rate is always lower than a standard variable rate loans.
- Easier to manage. If you are on a tight budget, it can make your monthly repayment schedule easier to manage.
- Additional payments above what is required are generally available via a Redraw Facility
- Many Lenders offer Introductory Home Loans with no on going fees.
- Once the introductory period comes to an end, the interest rate will revert to a Standard variable Rate without any discount.
- If switching to a different loan product during the introductory period, then switching fees will apply.
- Variable interest rates which will increase should interest rates rise.
- Limited features apply with no ability to offset funds held in other accounts.
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This will allow our consultants to perform a complete analysis of your borrowing capacity and provide appropriate advice for your personal circumstances.