Get access to the equity in your home with a competitive loan
The ING DIRECT Action Equity Home Loan is a great home equity loan with a low variable interest rate that will allow you to access the equity in your home without expensive ongoing fees.
Removed from market
ING DIRECT no longer offer the Action Equity Home Loan to new customers as of 31 October 2015. This page serves as an informational source only predominantely for customers who already have this loan.
Features of the ING DIRECT Action Equity Home Loan
The ING DIRECT Action Equity Home Loan comes with a variety of features that will help you save money. Find out more about the features and borrowing conditions of the loan are:
- Additional repayments. Many loans will not allow you to make additional repayments on your loan. By making additional repayments you will not only be able to pay off your loan faster but you will also be able to reduce the amount of interest that is charged to your account. The ING DIRECT Action Equity Home Loan will allow you to make additional repayments whenever you want free of charge.
- Redraw facility. If you choose to make any additional repayments you will also be able to redraw these funds whenever you would like. Even if you plan on using the funds, you will have still benefited from the lower interest rates you have received while the money was on the loan account. This is a great feature that can help you pay some of the unexpected bills that may arise over the course of the loan.
- Split the loan. People will use the ING DIRECT Action Equity Home Loan for many different reasons. Some people may use the ING DIRECT Action Equity Home Loan to buy an investment property, renovate another house or possible even both. The ING DIRECT Action Equity Home Loan allows you to split the loan into two separate accounts if you are planning on using the money for separate projects. This will allow you make managing your investments a lot easier as you will be able to partition the money you need into the accounts.
Borrowing conditions of the ING DIRECT Action Equity Home Loan.
The ING DIRECT Action Equity Home Loan will allow you to borrow part of your equity. To do this your home will have to be valued. You will generally be able to borrow most of the equity you have attained in the house. The ING DIRECT Action Equity Home Loan has no definite loan terms and as a result you will be able to take as long as you like to pay off the loan.
This line of credit home loan from ING DIRECT comes with no monthly fees and no annual fees either. It also allows you up to 10 free withdrawals a month.
Other features available to borrowers
When you link your line of credit home loan to an Orange everyday account, you'll get access to a transaction account where you can use any ATM in Australia at no charge.
You'll be able to access this money in a variety of ways.
- Cheque book
- Telephone banking
- Internet banking
- Mobile banking
Home equity loans can be a great way for people to buy things that they have always wanted. They are particularly effective as they unlock the money that you have built up in your home. By using your own money you will save money on some of the charges that are associated with loans.
The ING DIRECT Action Equity Home Loan could be great for you because it allows you to be very flexible by allowing you to make additional repayments onto the loan and redraw the money for no extra cost.