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Finder > Home Loan Finder > ING Home Loans

ING Mortgage Simplifier Home Loan Review

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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.

Interest Rate Max Insured LVR Max LVR
$500,000 to $1M (LVR ≤80% Investors, P&I)
2.69% p.a.
Comparison Rate
2.72% p.a.
 80% 80%
< $150,000 (Investor, IO)
4.45% p.a.
Comparison Rate
4.47% p.a.
 80% 80%
< $150,000 (Investor, P&I)
4% p.a.
Comparison Rate
4.02% p.a.
 80% 80%
< $150,000 (Owner Occupier, IO)
4.45% p.a.
Comparison Rate
4.47% p.a.
 80% 80%
< $150,000 (Owner Occupier, P&I)
3.92% p.a.
Comparison Rate
3.94% p.a.
 80% 80%
$150,000 to $500,000 (LVR > 90% Owner Occupier, P&I)
2.89% p.a.
Comparison Rate
2.92% p.a.
 95% 80%
$150,000 to $500,000 (LVR >80% ≤ 90% Owner Occupier, P&I)
2.59% p.a.
Comparison Rate
2.62% p.a.
 90% 80%
$150,000 to $500,000 (LVR ≤ 80% Investors, IO)
3.09% p.a.
Comparison Rate
3.11% p.a.
 80% 80%
$150,000 to $500,000 (LVR ≤ 80% Investors, P&I)
2.69% p.a.
Comparison Rate
2.72% p.a.
 80% 80%
$150,000 to $500,000 (LVR ≤ 80% Owner Occupier, IO)
3.54% p.a.
Comparison Rate
3.56% p.a.
 80% 80%
$150,000 to $500,000 (LVR ≤ 80% Owner Occupier, P&I)
2.49% p.a.
Comparison Rate
2.52% p.a.
 80% 80%
$1M+ (LVR > 90% Owner Occupier, P&I)
2.89% p.a.
Comparison Rate
2.92% p.a.
 95% 80%
$1M+ (LVR >80% ≤ 90% Owner Occupier, P&I)
2.59% p.a.
Comparison Rate
2.62% p.a.
 90% 80%
$1M+ (LVR ≤ 80% Owner Occupier, IO)
3.5% p.a.
Comparison Rate
3.52% p.a.
 80% 80%
$1M+ (LVR ≤80% Investors, IO)
3.09% p.a.
Comparison Rate
3.11% p.a.
 80% 80%
$1M+ (LVR ≤80% Investors, P&I)
2.69% p.a.
Comparison Rate
2.72% p.a.
 80% 80%
$1M+ (LVR ≤80% Owner Occupier, P&I)
2.45% p.a.
Comparison Rate
2.48% p.a.
 80% 80%
$500,000 to $1M (LVR > 90% Owner Occupier, P&I)
2.89% p.a.
Comparison Rate
2.92% p.a.
 95% 80%
$500,000 to $1M (LVR >80% ≤ 90% Owner Occupier, P&I)
2.59% p.a.
Comparison Rate
2.62% p.a.
 90% 80%
$500,000 to $1M (LVR ≤ 80% Owner Occupier, IO)
3.54% p.a.
Comparison Rate
3.56% p.a.
 80% 80%
$500,000 to $1M (LVR ≤ 80% Owner Occupier, P&I)
2.49% p.a.
Comparison Rate
2.52% p.a.
 80% 80%
$500,000 to $1M (LVR ≤80% Investors, IO)
3.09% p.a.
Comparison Rate
3.11% p.a.
 80% 80%
Product NameING Mortgage Simplifier Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$50,000
Maximum Loan Amount$2,000,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$0
Ongoing Fees$0 p.a.
Settlement Fee$299
Discharge Fee$250

Pros

  • $0 application fee
  • $0 ongoing fee

Cons

  • $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
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2 Responses

  1. Default Gravatar
    yusufMay 26, 2015

    Centrelink payment is only income. Do you provide loans based on this? I do have property with $25k mortgage.

    Reply
    • Avatarfinder Customer Care
      BelindaMay 29, 2015Staff

      Hi Yusuf,

      Thanks for your enquiry.

      There are some lenders that provide home loans to Centrelink recipients. You can find out more about these types of loans on this page.

      Thanks,
      Belinda

      Reply
ING Mortgage Simplifier Home Loan

ING Mortgage Simplifier Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR

    80%

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