Mortgage Simplifier Mortgage Simplifier $150K+ LVR >90% (Owner Occupied)
4.55%p.a Basic Variable
About ING DIRECT
Repayments calculated to take into account ongoing monthly and anual fees.
- Monthly repayment*
- rate per annum
Loan to Value Ratio
Borrow up to the maxium of 95% of the value of the property.
Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.
However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.
- Capitalise LMI
For ["Owner Occupied"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "ACT"].
- 1 - 30 years
The level of financial documentaion and credit history required to apply for the loan.
- Full Doc
- Credit History
- Genuine Saving
Save on interest repayments by holding spare cash in an offset account.
- Offset account
Get quick access to cash by drawing on the loan to pay for renovations or other purchases.
- Redraw Facility
- Min Redraw
- Redraw fee
Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.
Some features you may wish to consider include:
- an offset account;
- ability to make extra repayments;
- a redraw facility; and
- linked credit card and savings accounts;
- ability to split your loan between fixed and variable interest rates
- Offset Account
- Redraw Available
- Credit Card
- Internet Banking
- Telephone Banking
- BPay Option
- Portability of Loan
- Professional Pack
- Check Account
- Direct Salary Credit
- Free Transactions
- Minimum Redraw
- Redraw Fee
You can make your repaments Fortnightly and Monthly.
- Interest Only Option
- Max Interest Only
- 0 years
Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.
Monthly and annual fees and charges during the loan period.
Fees associated with prematurely ending the loan.
- Early Repayment
- Switch To Fixed
PLEASE NOTE: 'The Final interest rate is based on loan amount plus LMI cap. If the total loan amount including LMI cap exceeds the LVR bracket, a different interest rate will apply'. FOR MORE INFORMATION PLEASE REFER TO THE ING DIRECT INTEREST RATE SHEET OR CONTACT YOUR BDM. Fixed Rate Application & SmartPack Fees Waived - Extended Until Further Notice. ING DIRECT will waive Fixed Rate application and SmartPack fees. Where these fees would normally apply, this represents a customer saving of $499. Important points to note for the above promotion: - Applicable for new applications with new to ING DIRECT security property - Fixed rate lock-in is available for a flat fee of $749 per fixed rate application - Standard pre and post settlement fees and charges apply, including Fixed Rate Lock In fees (where applicable) ORANGE ADVANTAGE & MORTGAGE SIMPLIFIER SMARTPACK LVR BASED DISCOUNTS PROMOTION Conditions apply. To be eligible for the Orange Advantage & Mortgage Simplifier SmartPack LVR Based Discounts promotion, the following conditions apply: - Applicable until further notice - Applications must be for a new loan with new security property to ING DIRECT - The LVR (Loan to Value Ratio) for the new loan application must be above 80% and less than or equal to 90% - Fees and charges apply OTHER PRODUCT INFO: **When submitting application, please be sure to state SMARTPACK APPLIES in comments section so that ING are aware when assessing the application. The ING DIRECT SmartPack is a package which rewards high value customers with life-of-loan interest rate discounts. Interest rate discounts are applicable on the Mortgage Simplifier and the Smart Home Loan. All the benefits of a Mortgage Simplifier or Smart Home Loan, PLUS; - Interest Rate discount for the life of the loan - Free loan splits - Includes the fixed rate home loan application fee (if applicable) If applying for a fixed rate loan, the SmartPack fee includes the fixed rate application fee. The relevant interest rate discount is applicable at the expiry of the fixed rate term. Aggregate Borrowings: SmartPack discount is available if total residential borrowings with ING DIRECT are $250,000 or more, which can be an aggregate of all loan types excluding commercial borrowings. Life-of-loan Discount: The interest rate discount applies to the applicable home loans, even if the total ING DIRECT borrowings fall below $250,000. NIVA Limit: Where SmartPack aggregation includes a Smart Home Loan, the NIVA limit is 3% of the total aggregate borrowings, to a maximum of $10,000.
Owner occupied Maximum LVR of 95% inclusive of LMI premium LMI for Owner Occupied (OO) and 80% for Interest Only Loans. Investors a maximum of 80% including LMI premium. Refinances (owner occupier & investor) Maximum LVR of 80% plus LMI premium. For refinances where ING DIRECT does not control the funds at settlement, max cash out allowed to maximum LVR of 80%. Where LMI is involved, maximum loan amount is $1,250,000 plus capped LMI premium.
Where LMI required the applicant is to provide evidence of genuine savings as per LMI underwriting requirements. All applications lodged for REP/LMI must have Genuine Savings. For owner occupied purchases regardless of LVR and investment purchases with an LVR of greater than 80% and less than or equal to 85%, a minimum of 5% of purchase price over 3 months. For investment purchases with an LVR greater than 85%, a minimum of 10% of purchase price over 3 months. Please refer to Underwriting Guidelines for further info and acceptable Gen Savings.
ING will cover the cost of the initial valuation regardless of cost of the valuation.