An introductory loan or a honey moon loan as it is sometimes referred to, is a loan where for the first 6 months or sometimes a year, the interest rate is lower than the standard home loan rate. After the introductory time period the loan then reverts back to the standard variable rate of interest. The lender offers this as an enticement to potential borrowers.

There are some conditions attached to these types of loans, often they require the borrower to stay with the financial institution for a minimum time frame. There may be some restrictions on who can take advantage of this type of loan ie it is mainly aimed at first time home loan borrowers.

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