What is an introductory offer?
When you take out a mortgage or move your mortgage, your proposed lender may offer you an introductory home mortgage rate. Introductory offers are normally in the form of a reduced interest rate; the most common form is a set percentage below the standard interest rate. By doing this, the lender knows that you will consider their offer much more seriously and the short-term gain could well outweigh any other costs. The fact is that your home mortgage rate is going to be…
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