A simple, competitive home loan with no monthly or annual fees.
The ING Mortgage Simplifier Home Loan is a variable rate home loan available to owner occupiers or investors. It's a flexible product that doesn't have an offset account but keeps rates very low.
|Product Name||ING Mortgage Simplifier Home Loan|
|Interest Rate Type||Variable|
|Comp Rate^ (p.a.)|
|Minimum Loan Amount||$50,000|
|Maximum Loan Amount||$2,000,000|
|Minimum Loan Term||1 year|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||95%|
|Mortgage Offset Account||No|
|Mortgage 100% Offset||No|
|Loan Redraw Facility||Yes|
|Split Loan Facility||Yes|
|Fixed Interest Option||No|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest and Interest Only Options|
|Ongoing Fees||$0 p.a.|
- $0 application fee
- $0 ongoing fee
- $250 discharge fee for closing the home loan accounts
- $299 Settlement fee
Things to consider about the ING Mortgage Simplifier
The ING Mortgage Simplifier Home Loan is available for owner occupiers or investors. The loan allows you to make extra repayments, redraw your funds and can be used to pay bills using its BPAY feature. If you have an Orange Everyday Transaction Account, this loan enables you to withdraw money from any ATM in Australia without incurring any fees.
Features of the ING Mortgage Simplifier
- Maximum loan amount. The maximum loan amount varies depending on the loan purpose and repayment type.
- Maximum LVR. Owner-occupiers can borrow up to 80% up to 95% LVR with lenders mortgage insurance, while investors can borrow up to 80%. Higher LVRs may attract higher interest rates.
- Repayments. You can choose to make your regular repayments fortnightly or monthly. Extra repayments can be made at any point without incurring penalties.
- Redraw. This feature enables you to withdraw any extra repayments you’ve made towards your home loan. There’s no redraw fee or limit on how many redraws you can make.
What fees and charges come with this loan?
- Application fees: $0
- Monthly and annual fees: $0
- Valuation fees: While ING covers up to $215 of the valuation fee, this is only applicable for the first valuation. Any amount in excess of $215 is billed to you.
- Documentation and settlement fees: . This is the minimum amount that may be charged. Settlement of this home loan can also result in solicitor fees and charges.
How to apply for the ING Mortgage Simplifier
To find out more or apply for the ING Mortgage Simplifier, click "Go to Site" to visit the ING website and complete an online enquiry. You will also have to meet certain eligibility criteria, which include the following:
- You must be an Australian resident
- You must be over 18 years of age
- You must have a regular source of income
Applying for this home loan also requires that you submit certain documents. ING uses these documents to verify your credentials. As a result, when you apply for an ING home loan, keep the following handy.
- Your driver’s licence
- Your passport
- All details surrounding your assets and liabilities