Fox Symes Honeymoon Home Loan
When you buy a property, your home loan isn’t going to be the only expense you have to deal with. There will be solicitors, building surveyors, gas and electric checks, removals, and numerous other costs depending on where you live, and the size of the property you’ve brought.
It’s little wonder then that the first year of home ownership is the most common time for people to fall into financial difficulty. It’s very easy to fall into a spiral of debt, and with so many new expenses to budget for, some new home owners get into trouble that leads them into the financial wilderness for many years.
In the very worst cases, that initial year of home ownership can induce debt that results in repossession. This is a fact that popular lender Fox Symes is very aware of, and one they’re trying their best to rectify by offering customers a special Honey moon Home loan product.
The Fox Symes Honeymoon Home loan
The Honeymoon loan offered by Fox Symes is clever and innovative. More to the point it could potentially save hundreds of new homeowners from financial ruin.
So what is the Honeymoon loan, and why could so many new buyers benefit from it?
A honeymoon loan is a special mortgage product that offers the borrower an interest rate that’s significantly lower than the standard variable rate of interest available. After a pre-agreed period of time, normally a year, the interest rate will then revert to the lender’s variable rate and the contract continues. This helps the borrower immeasurably for the low interest rate period.
What it means is that for the low rate, or “honeymoon” period your monthly repayments will be dramatically lower than they would be if you were to start on the lenders variable rate. The extra money you have each month can go towards the cost of moving, paying off outstanding bills, or towards the costs of buying any new appliances you need around the home.
Consider an Emergency Fund
One possible use for the spare money you’re left with each month is to put it into a separate account, only to be used in an emergency. Add to this “emergency fund” whenever you can so that once you’re paying the variable rate of interest, you have something to fall back on should anything go wrong.
Having spare money at the end of the month isn’t a situation you’ll find yourself in as a new homeowner unless you’re on a special honeymoon home loan deal.
A Loan for Every Australian
The loans offered by Fox Symes are cost effective and affordable. They give you the opportunity to make over-payments to reduce your debt, and the ability to redraw if you need money in a hurry. They also give you the option to use an interest only method of repayment for a period of time if you want to reduce your monthly bill. This level of support is almost unheard of in what has recently become a much tougher and stricter home loan market.
If you’re about to step onto the property ladder for the first time, or are considering refinancing your existing home loan then take a look at the Fox Symes range of honeymoon offers and see how much you could save. The results may shock you.
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher​ | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
 
|
 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
|
 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
|
 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded the 2011 Non bank Lender of the Year this feature-packed loan rewards customers with a bonus rate drop of 0.25% after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
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