Discounted Rate Loans

Discounted Rate loans are particularly attractive to first home buyers and others who are rate sensitive, and looking to keep their repayments to a minimum in the early stages of a loan.

Discounted Rate loans are often referred to as honeymoon loans. This is where the interest rate is set at predetermined level below the standard variable rate for an initial set period, generally up to 2 years.

Some of the features available are:

• An interest rate set at a predetermined level below the Standard Variable Interest Rate for 3-24 months
• These loans typically allow all features of the normal Standard Variable Rate loan
• Administration and early repayment penalties may be applied if the loan is repaid in full prior to the end of the discounted period.