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ING Home Loans

For over twenty years, ING Bank has offered Australians competitive home loans through the ease of online services. This home loan and banking company is dedicated to providing customers with straightforward and valued products while retaining exemplary customer service.

While initially originating in the Netherlands, ING Bank has become a strong presence in Australia's home loan industry. Without the need to man bank branches or ATMs, the experienced employees at ING Bank can dedicate their time and focus to providing their customers with beneficial features like affordable interest rates and lower annual fees.


ING Home Loan Product Features

Mortgage Simplifier IOMortgage Simplifier P&IOrange Advantage

Product Fees

Application---
Settlement$299$299$299
Discharge$250$250$250
Product--$299
Fee Cycle--Annually

Product Features

RepaymentFortnightly, MonthlyFortnightly, MonthlyFortnightly, Monthly
Offset
Redraw
EFTPOS
Debit Card
BPay
Internet Banking
Bridging
Construction

Why choose ING home loans?

ING is known internationally as the leading direct savings bank, and its expertise extends to the home loans it offers. With over 475,000 home loans having been financed across Australia, you know that they are a mortgage organisation you can trust to put your needs first.

Flexibility and unique features are trademarks of any ING home loan, whether variable or fixed-rate. This means you hold all the borrowing power when you apply for a home loan with ING, as the mortgage is adapted to your needs rather than forcing you to conform to a rigid loan structure.

Enjoy around-the-clock customer service through the easy accessibility of ING's online lender structure. One of ING's helpful service members will be readily available to guide you through the home loan application process and answer any of your pressing mortgage questions. You will never be alone when you have ING by your side.

Pros and cons of ING home loans

When it comes to home loans, ING Bank stands out by offering more than a basic home loan and lacklustre interest rates. Their variable and fixed-rate loans offer a competitive interest rate, lower ongoing fees, and comprehensive customer service.

Beyond the excellent ING home loan rates you are guaranteed when you choose the establishment's services, you can enjoy other benefits such as:

  • Flexible loan options, such as including an offset account, switching between fixed and variable rate loans, or the Orange Advantage home loan.

  • The chance to bundle your home loan with other ING Group products.

  • Lower interest rates when you have larger deposit funds.

  • Additional discounts to owner-occupiers who obtain an ING home loan.

  • Refinance cash-out funds with no additional restrictions up to 80% of your loan-to-value ratio (LVR).

  • Award-winning customer service recognised Australia-wide.

  • Fast loan approvals.

Like any service, there are still some downsides to obtaining a home loan with ING. However, many of these cons can be avoided through the negotiation efforts of a dedicated mortgage broker:

  • Home loans occasionally contain annual fees, although you can always check ahead of time whether the product you choose has these fees.

  • Construction loans are not one of their more beneficial loan products.

  • First-home buyers with a low deposit are not offered additional aid.

  • Conservative lending policy.

  • ING only generally accepts those with a good credit history.

  • ING Direct and other affiliates do not have any physical branches to talk face-to-face with customer service. Instead, ING is an entirely online bank.

Comparative analysis of ING home loans

No matter why you need a home loan, ING has the product that perfectly suits your needs. Comfortably browse their owner-occupier loans to obtain your dream home, or get investment-savvy with their competitive investment loan rate.

With their fixed-rate loan allowing you to set your own fixed interest period and no ongoing monthly maintenance fees, you can get more out of your home loan with ING. This includes unique benefits you will rarely find with other lenders, such as:

  • A fixed rate for a minimum of 1 year or a maximum loan term of 5 years.

  • Repayments are fortnightly or monthly, depending on your preference.

  • Minimum loan amounts start from only $50,000.

  • You can borrow up to 95% of your LVR, meaning your fixed-rate loan only requires a 5% deposit.

  • No application or ongoing monthly fees.

  • To help pay off your home loan faster, you can schedule unlimited extra repayments totalling $ 10,000 a year without penalty.

  • If you combine a fixed-rate home loan with the Orange Advantage home loan, you can receive a discount on ING's advertised interest rates.

  • With the rate lock feature, you can protect yourself against rising interest rates for up to 90 days before the loan settlement. It just comes with a one-off fee upfront.

Like ING's fixed rate loans, their variable home loans provide several benefits that few other lenders offer. 

This includes:

  • Two variable rate loans have a starting amount as low as $50,000.

  • Any variable rate loan includes unlimited additional repayments and a redraw facility.

  • While the Orange Advantage home loan comes with an annual fee, you can enjoy genuine savings with its offset account and split loan facilities. This is because these features provide interest rate discounts.

How to apply for an ING home loan

Unlike other larger banks, ING home loan services are only available through online banking. This means the application must be made online. Still, it retains the necessary steps and eligibility criteria for acquiring any home loan.

To be eligible for an ING home loan, you must be:

  • Over 18 years of age

  • A permanent resident of Australia

  • Regularly employed with a stable source of income

You can apply for an ING home loan if you meet the eligibility criteria. The first step is to bring all necessary documentation to prove your identity, income, and the property you wish to purchase.

This is done by supplying documents such as:

  • Proof of identity: This can be in the form of a driver's licence, passport, or birth certificate.

  • Proof of income: Recent payslips that detail your main source of income.

  • Property details: This includes the address of the property and a signed contract of sale.

  • Assets and liabilities: You need to supply evidence of your current assets (savings accounts or investments) and your liabilities, typically forms of debt.

How Get a Better Rate can help your application

Streamline the home loan application process further by hiring a trusted mortgage broker to handle the paperwork and find a suitable home loan.

Whether you are looking for an interest-only, variable, or fixed-rate loan, Get a Better Rate is the mortgage broker you can entrust to find a home loan that perfectly suits your needs. We are dedicated to being a mortgage simplifier, taking care of all the hard work so you can enjoy the benefits of a hand-picked home loan.

Get a Better Rate can negotiate with lenders like ING Bank for lower monthly maintenance fees or unlimited additional repayments. 

Book a free consultation with our founder and principal broker, Peter Hammond, and we can start applying for your new home loan.

No matter what aspect of home loans you want to address with us, we have plenty of additional resources and tools to help you. Whether you want to compare home loans with the ING, calculate your loan repayments, or figure out how much you will save when you refinance your existing loan, Get a Better Rate has you covered.


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Additional resources and tools

No matter what aspect of home loans you want to address with us, we have plenty of additional resources and tools to help you. Whether you want to compare home loans with the ING, calculate your loan repayments, or figure out how much you will save when you refinance your existing loan, Get a Better Rate has you covered.

Refinance Calculator

Our refinance comparison calculator, will help you understand what you could be savings on your home loan

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Loan Repayment

How much will be loan repayments be?

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