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Honeymoon Loan

This type of home loan allows couples or individuals to have lower initial repayments by having a discount on the first year or through a specified period set by both parties. Honeymoon loan can either have a variable or fixed rate, depending on the preference of the borrower. Interest rates are often guaranteed low on the honeymoon period. Once the discount period is over, the loan reverts back to standard variable rate.

Advantage:

  • Usually have the low interest rates during the honeymoon period.


Disadvantage:

  • Higher variable rate after the discount period.

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This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply. Your full financial situation will need to be reviewed prior to acceptance of any offer or product.