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Introductory Loan
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A mortgage product with a reduced rate, of 1 - 1.5%, for an initial period, usually one or two years. This is also referred to as a Honeymoon rate.
The purpose of these loans is to bring customers in the door. After the initial period most lenders require that you revert to their standard rate.
The loan is targeted at first home buyers and is not always available to customers who are looking to refinance. We sometimes call this the bank managers option.
We know who has the best honeymoon rates
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