ING Direct

ING Direct

Founded: 1743 (1999 as an AUS lender)

Lender Type: International Bank

Owned by: Euronext Listed

ING started out as a Dutch bank but today is one of the world’s largest and most influential global banks. In Australia, ING Direct is the country’s Most Recommended Bank and has financed over 475,000 home loans to date. While a huge financial institution, ING operates online only, distinguishing them from other big banks. This gives them the ability to pass their cost-savings on to the customer in the form of competitive rates and great loans. They do however have a notably conservative lending policy, which can make qualifying for a home loan with ING Direct difficult for non-traditional borrowers.

Key Benefits

Competitive rates even with low deposits
Low fees
Fast loan approval times

Drawbacks

Won’t accept borrowers with bad credit
Self-employed borrowers may find income verification difficult
No branch locations

Home Loan Products

Compare Home Loans

Home Loans Description

Mortgage Simplifier

Get a competitive variable rate and save on fees with this straightforward home loan product. You can make free extra repayments and then redraw your additional funds when you want with BPAY. Depending on how much you borrow, you may also be eligible for interest rate discounts, making this an even more affordable loan product.

Orange Advantage

For borrowers who want more options, ING Direct’s Orange Advantage is a full-featured product. You can use your 100% offset facility to reduce your interest payments or choose to split your loan to balance your loan with the flexibility of a variable rate and the stability of a fixed rate. Put more of your money towards paying down your loan with no application or monthly service fees. Borrow less than 90% of the purchase price and you can benefit from discounted rates.

Fixed Rate Loan

Fix your home loan interest rate for one to five years with ING’s Fixed Rate Home Loan. You can still take advantage of the interest savings of an offset account of you split your fixed rate loan with the Orange Advantage variable rate loan. As with the other ING loans, you won’t have to pay any monthly service or application fees and you can enjoy rate discounts – the larger your deposit, the lower your rate.

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