ING Smart Home Loan
Posted August 3rd, 2010
and last modified January 31st, 2012
What happens when I click Enquire Now?
- Clicking Enquire Now will take you to the lender's website
- After completing the contact form, a mortgage expert will contact you
- The mortgage expert will ensure you find the right loan, calculate your repayments, and explains all the associated fees
- After going through the enquiry process you will be able to know how much you can borrow, begin your application when you are ready to apply and be approved for a home loan
Sometimes the amount of debt that you accumulate can get out of hand. Many people will have a credit card debt that charges a high interest rate, a personal loan that is paying off the car and a home loan which will account for the vast majority of the debt. The credit cards and the personal loans attract a higher interest rate and are harder to pay off.
The ING Smart Home Loan allows you to consolidate all your debts onto your home loan so you can reduce the amount you have to pay each month. By consolidating your debts you will also save money on bank fees and other charges associated with the other debts.
Features of the ING Smart Home Loan
The ING Smart Home Loan allows offers you a great way to consolidate your debts. This section of the article will explain all the features of the ING Smart Home Loan. These features are:
- Line of credit. The ING Smart Home Loan is a line of credit loan. A line of credit loan differs from regular home loans in that you are drawing money from a credit account. The amount you can withdraw will depend on the amount that is agreed upon at the start of the loan.
- Interest rate. The interest rate that is offered with the ING Smart Home Loan is a variable interest rate that is discounted at a rate of 0.50%p.a. for people that borrow over $300,000. By reducing your interest rate you will save money as you will not be paying as much to repay your loan.
- Borrowing conditions. The ING Smart Home Loan allows you to borrow as much as you can be approved for. Furthermore, the ING Smart Home Loan has no loan term. This means that you can take as long or as short a time as you would like to pay off the loan.
- Additional repayments. One of the benefits of line of credit loans is that you will be able to be flexible in the way you pay off the loan. The ING Smart Home Loan allows you to make additional repayments onto the loan account whenever you would like for no charge. By making additional repayments you will be able to reduce the amount of interest you pay onto the loan.
- Visa credit card. The ING Smart Home Loan comes with an optional feature in the form of a free VISA debit card. The VISA card will be linked to your line of credit account and you will be able to use the card for everyday purchases and line of credit. The VISA debit card comes with the VISA entertainment feature which can give you exclusive access to special events.
- Fees. There are few fees that are charged with the ING Smart Home Loan. When you apply you will have to pay a once off smart pack fee of $699 and you will have to pay an annual fee of $180. However, apart from these two fees you will not pay any other fees.
The ING Smart Home Loan is a smart loan that can save you money if you would like to consolidate your debts. The ING Smart Home Loan comes with a variety of features that are very common with line of credit loans that will allow you to be flexible with how you repay the loan. Furthermore, you will get a free VISA debit card that is linked to the loan account when you are accepted for the loan.
Read the ING Direct Smart Home Loan terms and conditions.
| Minimum Loan Amount | $50,000 | |
|---|---|---|
| Maximum Loan Amount | $2,000,000 | |
| Maximum LVR | 90% | |
| Maximum Insured LVR | 90% | |
| Mortgage Offset Account | No | |
| Loan Redraw Facility | No | |
| Split Loan Facility | No | |
| Fixed Interest Option | No |
| Interest Rate Type | Fixed | |
|---|---|---|
| Interest Rate | 7.02% | |
| Comparison Rate | 7.14% | |
| Repayment Type | Interest Only | |
| Repayment Frequency | Weekly | |
| Extra Repayments | No |
| Application Fee | $0 | |
|---|---|---|
| Legal Fee | $220 | |
| Valuation Fee | $0 | |
| Service Fee | $180 | |
| Exit Fee | $250 |
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher​ | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
 
|
 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
|
 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
|
 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded the 2011 Non bank Lender of the Year this feature-packed loan rewards customers with a bonus rate drop of 0.25% after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
|
Ask A Question About This Product