ING Direct Mortgage Simplifier

The Mortgage Simplifier is ING Direct’s basic variable rate home loan. It includes a low, variable interest rate. This is can be the perfect option for first time buyers or those who want to refinance their loan at a lower rate. Investors choose this loan when they want a competitive variable rate home loan. It is simple, no-frills loan with an affordable interest rate.

ING Direct’s fixed rate home loans revert back to the Mortgage Simplifier once their fixed rate terms expire. While it is a basic loan, it does offer some great benefits for borrowers including discounts and special offers, no monthly or ongoing fees, as well as redraw and extra payment features.

KEY BENEFITS

The Mortgage Simplifier Home Loan comes with the following key benefits:

Additional Repayments

You can make extra payments on your home loan at any time without incurring early repayment penalties.

Interest Only Options

You have the option of paying interest only on your mortgage for a maximum of five years before the principal will need to be paid.

Fees

This loan product removes most monthly, annual, and transaction fees. Also, there no ongoing fees associated with the Mortgage Simplifier.

Redraw Facility

The terms of this loan allow you to free access to your mortgage funds with a redraw facility. You can use the extra money you paid into the loan to pay for a holiday, buy another property, make repairs on your current home, or pay other expenses.