ING Home Loans Australia – Compare Fees & Rates 2020

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Home loan interest rates

Orange Advantage

Owner occupiers – Principal + Interest

Owner occupiers – Interest only

Investors- Principal + Interest

Investors – Interest only

The variable rates above include a discount that is applied to the relevant reference rate. These variable rates are only available for new ING security property and borrowings. All rates and information are correct at time of publication and are subject to change.

Owner occupiers – Principal + Interest

LVR is 80% or less

LVR is above 80% and less than or equal to 90%

LVR is more than 90%

Owner occupiers – Interest only

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LVR is 80% or less

Investors – Principal + Interest

LVR is 80% or less

Investors – Interest only

LVR is 80% or less

The variable rates above include a discount that is applied to the relevant reference rate. These variable rates are only available for new ING security property and borrowings. All rates and information are correct at time of publication and are subject to change.

Owner occupiers – Principal + Interest

LVR is 80% or less

LVR is above 80% and less than or equal to 90%

LVR is more than 90%

Owner occupier – Interest only

LVR is 80% or less

Investors – Principal + Interest

LVR is 80% or less

Investors – Interest only

LVR is 80% or less

The variable rates above include a discount that is applied to the relevant reference rate. These variable rates are only available for new ING security property and borrowings. All rates and information are correct at time of publication and are subject to change.

Owner occupiers – Principal + Interest

LVR is 80% or less

LVR is above 80% and less than or equal to 90%

LVR is more than 90%

Owner occupier – Interest only

LVR is 80% or less

Investors – Principal + Interest

LVR is 80% or less

Investors – Interest only

LVR is 80% or less

The variable rates above include a discount that is applied to the relevant reference rate. These variable rates are only available for new ING security property and borrowings. All rates and information are correct at time of publication and are subject to change.

Mortgage Simplifier

Owner occupiers – Principal + Interest

Owner occupiers – Interest only

Investors – Principal + Interest

Investors – Interest only

The variable rates above include a discount that is applied to the relevant reference rate. These variable rates are only available for new ING security property and borrowings. All rates and information are correct at time of publication and are subject to change.

Owner occupiers – Principal + Interest

LVR is 80% or less

LVR is above 80% and less than or equal to 90%

LVR is more than 90%

Owner occupiers – Interest only

LVR is 80% or less

Investors – Principal + Interest

LVR is 80% or less

Investors – Interest only

LVR is 80% or less

The variable rates above include a discount that is applied to the relevant reference rate. These variable rates are only available for new ING security property and borrowings. All rates and information are correct at time of publication and are subject to change.

Owner occupiers – Principal + Interest

LVR is 80% or less

LVR is above 80% and less than or equal to 90%

LVR is more than 90%

Owner occupiers – Interest only

LVR is 80% or less

Investors – Principal + Interest

LVR is 80% or less

Investors – Interest only

LVR is 80% or less

The variable rates above include a discount that is applied to the relevant reference rate. These variable rates are only available for new ING security property and borrowings. All rates and information are correct at time of publication and are subject to change.

Owner occupiers – Principal + Interest

LVR is 80% or less

LVR is above 80% and less than or equal to 90%

LVR is more than 90%

Owner occupiers – Interest only

LVR is 80% or less

Investors – Principal + Interest

LVR is 80% or less

Investors – Interest only

LVR is 80% or less

The variable rates above include a discount that is applied to the relevant reference rate. These variable rates are only available for new ING security property and borrowings. All rates and information are correct at time of publication and are subject to change.

Fixed Rate Home Loan

Important: Interest Only repayments are not currently available on any of our Owner Occupied fixed rate loans.

ING home loans

ING’s overall rating for home loans

(as rated by the Mozo community)

based on 703 reviews

ING (formerly ING DIRECT) is the world’s leading direct savings bank and is wholly owned by ING Group. It has held an Australian banking license since 1999 and in that time has become Australia’s Most Recommended Bank with over 1.5 million customers and counting.

ING has financed over 475,000 home loans Australia wide so you can sleep easy knowing that you’re getting first hand expert assistance that is suited to your borrowing needs whether you’re a first home buyer, investor or refinancer.

Rates and fees verified as correct at 03 April, 2020. Other information correct at the time of writing.

What home loans do ING offer?

Fixed Rate Home Loans Fixed Rate Home Loans

If you’re in the market for a home loan with repayment certainty and flexible loan features, ING’s Fixed Rate Loan ticks these boxes. The Fixed Rate Loan is ideal if you want to lock in a rate from 1 year to a period up to 5 years and you can choose to make repayments on a fortnightly or monthly basis. It is available from a starting amount of $50,000 and you can borrow up to 95% LVR which means you’ll only need a 5% deposit. There are no application or ongoing monthly fees and you can make up to $10,000 a year in additional repayments without penalty. And if you combine your Fixed Rate Loan with ING’s Orange Advantage home loan, you’ll receive a discount on the advertised fixed interest rates. There is also a rate lock feature available which can safeguard you against rising interest rates for up to 90 days prior to the settlement of the loan, but you’ll be charged a one off fee.

Variable Rate Home Loans Variable Rate Home Loans

ING’s variable options have everything you’re looking for in a full featured variable home loan and more. There are two variable home loans on offer that are available from a starting amount of $50,000. With ING’s variable home loans you can make unlimited extra repayments without penalty and redraw as you please. If you’re borrowing more than $150,000 you may be eligible for an interest rate discount and further discounts apply if you’re borrowing up to 90% of the property’s value (conditions apply). While you’ll be charged an annual fee for the Orange Everyday account, you can make up for the cost by taking advantage of its money saving features including a 100% offset account, a split loan facility that rewards you with interest rate discounts and a loyalty cash back offer which gets you 1% cash back on your monthly home loan repayments of up to $3,000 (conditions apply).

Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

Fixed Package Home Loan Fixed Package Home Loan

Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

Variable Package Home Loan Variable Package Home Loan

Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.

ING home loan features in a glance

Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

With ING’s variable and line of credit loan options you may be able to receive interest rate discounts if you’re borrowing amount is $150,000 or more. Further discounts apply if you’re borrowing up to 90% of the property’s value (conditions apply).

You can combine your Orange Advantage home loan with the Fixed Rate loan and you’ll received a fixed interest rate discount off the advertised fixed rates. Plus, the fixed rate home loan application fee will be automatically waived.

ING’s Orange Advantage home loan has a loyalty cash offer where you can get 1% cash back on your monthly home loan repayments of up to $3,000. You must also have an Orange Everyday bank account and deposit your pay (or more than $1000) a month to be eligible for the offer.

You can withdraw funds from any ATM in Australia for free when you have any ING home loan and an Orange Everyday transaction account.

How are ING DIRECT home loans rated?

Choosing the right home loan is an important investment for your future so it’s good to get a second opinion. Why not the opinion of thousands of Australians that reviewed their home loan provider using Mozo’s rate and review service? Here is how the Mozo community scored ING home loans.

ING home loans

Overall 7.9

Recent ING home loan reviews Recent ING home loan reviews

ING Home Loan review

Overall rating 0 / 10

Go with a mainstream lender who stays competitive

Got my loan with ING through MYRATE. Worst decision I’ve ever made and have been paying very high interest rates for years. They only give good rates to new customers and they won’t drop their customers interest rate if they know you can’t go.

Got my loan with ING through MYRATE. Worst decision I’ve ever made and have been paying very high interest rates for years. They only give good rates to new customers and they won’t drop their customers interest rate if they know you can’t go anywhere else because of low equity. All my other banks have automatically dropped interest rates through out the years. But not ING or MYRATE

Customer service 0 / 10

Convenience 0 / 10

Jay, Queensland, reviewed 18 days ago

ING Orange Advantage (Package) review

Overall rating 10 / 10

Best bank!

Quick and efficient service, good rates, good features, no transaction fees.

Quick and efficient service, good rates, good features, no transaction fees.

Features 10 / 10

Customer service 10 / 10

Convenience 10 / 10

David, New South Wales, reviewed about 1 month ago

ING Fixed Rate Loan review

Overall rating 7 / 10

Competitive and trustworthy.

We are overall happy with this bank. We refinanced with them and they enabled us to purchase a new home.

We are overall happy with this bank. We refinanced with them and they enabled us to purchase a new home.

Customer service 7 / 10

Convenience 4 / 10

Anna, South Australia, reviewed about 1 month ago

ING Orange Advantage (Package) review

Overall rating 8 / 10

Competitive premiums and great customer service.

I’ve been very happy with ING. Good rates and good customer service.

I’ve been very happy with ING. Good rates and good customer service.

Customer service 8 / 10

Convenience 8 / 10

Kate, New South Wales, reviewed about 2 months ago

ING Home Loan review

Overall rating 9 / 10

Highly recommend.

ING have one of the more competitive rates on the market. They don’t have a physical branch however to go to.

ING have one of the more competitive rates on the market. They don’t have a physical branch however to go to.

Customer service 9 / 10

Convenience 5 / 10

Liam, New South Wales, reviewed about 2 months ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

What do you need to apply for a ING home loan? What do you need to apply for a ING home loan?

When you are confident ING is the right lender for you, signing up for one of their home loans is relatively easy and can be done online or offline. Before you get started, ensure you familiarise yourself with the details ING may require by scouring through our handy guide:

  • Completed Verifying Your Identity Form with accompanying identification documents
  • Rates notice
  • Statements for credit/store cards

Income details

  • Most recent payslips, Group Certificate or Taxation Return if you’re a salaried employee.
  • Self employed applicants will need to provide personal and business/company Taxation Returns and financials.

The purpose of the loan (i.e. new purchase, investment property or refinance) will generally determine what additional documents you may require. Some of these may include:

  • Contract of Sale
  • Bank account statements showing savings history
  • Completed application for First Home Owners Grant
  • Letter from Real Estate Agent conforming proposed/existing rental income or lease agreement
  • 6 month home loan statements (if you’re refinancing).

Hide

ING drops its fixed rate to a new low!

Last week, popular online bank, ING, slashed its Fixed Rate (Orange Advantage) home loan 2 year rate to an impressive 2.09% (3.77% comparison rate*).

This 2 year fixed rate is the joint lowest rate in Mozo’s database, excluding those only available for purchasing a ‘green’ home. Plus, ING’s 3 year fixed rate was also dropped to an extremely competitive 2.14% (3.62% comparison rate*).

At the beginning of the month, Mozo’s expert’s rated this fixed home loan as one of the best and presented ING with a 2020 Mozo Experts Choice Award in the Fixed Rate Home Loan category.

ING joins only two other mortgage lenders in Mozo’s database that offer a 2 year fixed rate this low: Reduce Home Loans and Well Home Loans.

Want to find out more about ING’s Fixed Rate (Orange Advantage) with its new shiny rate? Check it out below!

ING Fixed Rate Loan

2.09% 2 year fixed rate (3.77% comparison rate*)

2020 Mozo Experts Choice Award^ winner

Free extra repayments (up to $10,000 per year)

When it comes to low fixed rates, the award-winning ING Fixed Rate (Orange Advantage) home loan certainly has them. It comes with an impressively low 2.09% 2 year fixed rate (3.77% comparison rate*) and a competitive 2.14% 3 year fixed rate (3.62% comparison rate*). Plus, this loan took out a 2020 Mozo Experts Choice Award^ for best Fixed Rate Home Loan. And if you’re after more, ING charges no ongoing fees and borrowers can make free extra repayments (up to $10,000 per year). Just bear in mind, there is no redraw facility so you cannot access your additional contributions later on if you need to.

* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for the amount and term you entered.

** Initial monthly repayment figures are estimates only, based on the advertised rate, and a loan of $500,000 repaid over 25 years. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

Want to see how ING’s fixed rate home loan weighs up against the rest? Jump over to our home loan comparison table to check out offers from even more lenders.

Mozo may receive advertising fees from the financial institutions, issuers of financial or credit products and third party advice providers that are shown on this page. These fees are based on a cost per click, cost per acquisition, or a fixed fee.

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