ING Direct Home Loans
The Basics
When it was launched in Australia back in 1999, ING Direct was the first bank the country to forgo the traditional branch business model and focus primarily in online and telephone based services. This leaner model allowed the company to cut its overhead and pass savings to its client base via competitive rates. Today, ING Direct is in fifth place among Australia’s major retail banks.
ING Direct (Australia) is a part of the larger ING Group, the world’s third largest savings bank. It has provided banking, asset management, and insurance services the world over since 1991. The bank services more than 85 million customers in over sixty countries around the world. Additionally, ING Direct offers several mortgage products, catering to Australians and foreign clients alike. The bank has around $36 billion in mortgages.
Compare these loans with 205 other products
| Lender | Product | Rate | Min deposit | 100% offset | Redraw | Extra Repay | Constr- uction | Enquire |
 | ING Direct Fixed 3 Year | 5.99% | 10% |  | ||||
| ING Direct Fixed 2 Year | 5.99% | 10% | | ||||
| ING Direct Fixed 1 Year | 5.99% | 10% | | ||||
| ING Direct Fixed 5 Year | 6.49% | 10% | | ||||
| ING Direct Fixed 4 Year | 6.49% | 10% | | ||||
| ING Direct Mortgage Simplifier | 6.72% | 10% | | | |||
| ING Direct Orange Advantage | 6.84% | 10% | | | | ||
| ING Direct Smart Home Loan | 7.32% | 10% | | | |||
| ING Direct Action Equity | 7.32% | 10% | | |
ING has taken the time to develop a set of affordable and dynamic loan products that can be tailored to fit a variety of borrower needs and situations. Naturally, the bank has some of the basic mortgage types used throughout the home lending market.
Its family of robust financing options includes variable rate loans, fixed rate loans, line of credit loans (including construction loans), as well as commercial loans. There are fixed rate home loans with 1, 2, 3, 4, and 5-year fixed rate terms; this feature adds a whole layer of flexibility and security that may be attractive to certain borrowers.
Other loan products include a home equity loan option, the Mortgage Simplifier, the Orange Advantage, and the Smart Home Loan. With the Mortgage Simplifier you get a low-cost variable interest rate loan that has no ongoing monthly fees or annual fees. It comes with free redraw facilities. It is great for first time home buyers and investors alike. Similarly, the Orange Advantage gives you an excellent incentive: a 100% interest offset that help you pay the loan balance off more quickly.
There are other home loans to choose from depending on whether you have primary occupancy in mind or you are looking for a good investment property. ING Direct has plenty to choose from not matter what you need.
