ING Direct Home Loans
As a direct bank, ING does not have any branches. You may think that is a disadvantage to a bank, especially one offering home loans but ING Direct makes up for their virtual presence by being available 24 hours a day seven days a week on their Australian based call centre. Plus, as you are dealing direct with a direct bank, ING have fewer overheads which those banks with branches and more staff have to cover, and so they can offer you lower interest rates on your home loan and intuitive features to make your home loan management as easy as possible.
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 ING Direct Action Equity Home Loan |
ING Direct Action Equity Home Loan | 7.22% | 7.22% | $0 / $0 | 90% | $50,000 / $2,000,000 |
 
|
ING Direct Construction Loan |
ING Direct Construction Loan | 6.62% | 6.62% | $0 / $0 | 95% | $50,000 / $1,100,000 |
|
ING Direct Mortgage Simplifier Home Loan |
ING Direct Mortgage Simplifier Home Loan | 6.62% | 6.62% | $0 / $0 | 95% | $50,000 / $2,000,000 |
|
ING Orange Advantage Loan (<$300,000) |
ING Direct Orange Advantage Home Loan (<$300000) | 6.74% | 6.91% | $0 / $199 | 95% | $300,000 / $2,000,000 |
|
ING Orange Advantage Loan ($300,000 < $500,000) |
ING Orange Advantage Loan($300000<$500000) | 6.49% | 6.66% | $0 / $199 | 95% | $300,000 / $2,000,000 |
|
ING Orange Advantage Loan ($500,000 plus) |
ING Orange Advantage Loan($500000 plus) | 6.39% | 6.57% | $0 / $199 | 95% | $500,000 / $2,000,000 |
|
ING Direct Smart Home Loan |
ING Direct Smart Home Loan | 7.22% | 7.34% | $0 / $180 | 90% | $50,000 / $2,000,000 |
|
ING Fixed Rate Home Loan |
ING Fixed Rate Home Loan | 5.99% | 6.53% | $499 / $0 | 90% | $50,000 / $2,000,000 |
|
Types of ING Direct Home Loans
Since you can apply for an ING home loan quickly and easily online, or by speaking to a home loan expert, you need to start learning about the types of loans on offer to decide whether ING has the product which is right for you. ING Direct home loans include:
- The Mortgage Simplifier basic variable home loan. As a basic variable home loan the Mortgage Simplifier interest rate is much lower than ING’s SVR but you are still getting a lot of features including free unlimited redraw facilities, additional repayments and you may be eligible for a 0.06% interest rate discount if you are borrowing more than $300,000, all with no account keeping fee.
- The Orange Advantage standard variable loan. If you borrow more than $300,000 with an Orange Advantage loan you could be eligible for a 0.25% discount on your interest rate for the life of the loan. You’re also getting free unlimited redraw, and additional repayments, plus a 100% offset account to save you interest.
- Construction loan. The ING construction loan can be used for a land purchase or for building and gives you two years to complete the building process, after which, the loan reverts to a basic variable loan, and charges you no ongoing account fees.
- Fixed interest rate loan. You can choose a fixed term from 1 to 5 years with ING after which your loan reverts to a basic variable loan. There are no account keeping fees and as a fixed loan you can make up to $10,000 worth of additional repayments, but no redraws until the end of your fixed term.
- The Smart Home Loan line of credit. ING allows you to consolidate your debts into the lowest form of credit available – a home loan. You’ll receive a 0.50% discount on your interest rate when you borrow over $300,000 and can choose to make interest only repayments, access free and unlimited additional repayments and redraw facilities, as well as ATM access, EFTPOS facilities and a Visa debit card.
- The Action Equity line of credit loan. If you specifically want to access the equity in your property the Action Equity loan charges no monthly fee and allows 10 free transactions per month.
Using an ING Direct Home Loan
ING home loans can be used for investment purposes or by owner occupiers, but you can only make monthly repayments on interest only loans. The ING Direct home loans are inclusive as they are, without you having to pay an annual fee to add a professional package for features such as discounted interest rates or offset accounts, as many other lenders require you to do.
You are also easily able to manage your home loan through internet or phone banking so that the savings you make on your loan, carry through to time savings in your daily banking. Plus, if you do have a question about your loan or a transaction on your account, you can call ING at any time of the day or night for an immediate answer.
Related Resources
Related Posts
- ING mortgage simplifier home loan
The ING mortgage simplifier home loan offers a low variable interest rate while providing you with flexible features that you need without you having to pay fancy features and options that you know you will never use. - ING Direct Orange Advantage Home Loan
If you are looking for a home loan which offers you all the features you need and want to easily repay your mortgage, and manage your repayments in a way which suits you. - ING Fixed Rate Home Loan
The ING Direct Fixed Rate Home Loan can offer you the security of a fixed interest rate and a guaranteed repayment amount, while also allowing you to use additional loan features such as loan splitting, portability, additional repayments or interest only. Plus, Home Loan Finder can secure you the best interest rate on this feature packed fixed loan, and one much lower than any broker can find you.
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