Glossary H

Home Equity Loan
This is a loan that assesses the amount of home equity you have and based on that, offers a line of credit that can be used to invest in a property or to renovate for example. These loans are not suitable for everyone, so talk to your First Choice consultant.

Honeymoon Rate
Also known as ‘Introductory Rate’, this is when lenders offer a very cheap interest rate, usually for a one year period.

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