Introductory rate home loans


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administrator

Jan 8, 2009( 1 min read )

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When you’re comparing home loans, the ones with the lowest rates always jump out first. This is because banks usually offer a discounted rate for an introductory period to lure in the new customers.

The risk to borrowers is that many don’t realise that the rate they’re stuck with later on could be higher than others, making you a loss in the long run.

It’s also common for the introductory rate home loans to come with many conditions. For instance, if you fall behind on a payment you may be slapped with the standard rate, taking away all the benefits you may have enjoyed.

Think about the life of your loan rather than just the first one or two years, and make sure your impulses don’t come back to haunt you.

To compare a large range of competitive Australian home loans visit our online comparison page and work out your finances with the home loan repayment calculator. For all the latest home loan related tips and information read our news articles and home loan guides

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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