Intro Rate loans
Intro Rate loans are loans where you receive a large discount of the standard varibale rate for a period of time (usually a year) and after the period finishes then your rate will either revert back to the standard variable rate or to a less discounted rate for the remainder of the loan. Be aware that some lenders may penalise you if you repay or refinance your loan during or shortly after you enjoyed the Intro rate.
