Orange Advantage Orange Advantage $150K+ LVR >80% up to 90% (Owner Occupied)
4.02%p.a Standard 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 90% 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, and 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 repayments 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.
- Ongoing Yearly
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'. Important points to note for the above promotions: Applicable for new applications with new to ING DIRECT security property Standard pre and post settlement fees and charges apply, including Fixed Rate Lock In fees (where applicable) Orange Advantage loan combined with Orange One Credit Card: If approved for a credit limit of $6,000 or more, the customer can opt in for cash back rewards for free - normally $199 per year. - The additional cardholder's fee is waived ($20 / year per additional card). - Less paperwork to be provided as the deal is assessed as one application. Fee waiver applies to a maximum of one Orange One card per Orange Advantage fee paid. The annual fee on the OA home loan will apply as normal. 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 less than or equal to 80% - Fees and charges apply OTHER PRODUCT INFO: The ING DIRECT Orange Advantage home loan offers 100% interest offset with an Orange Everyday transaction account. The balance in an Orange Everyday is offset against the outstanding balance in the Orange Advantage when interest is calculated. So, the more the customer has in their Orange Everyday, the less interest they pay on their Orange Advantage and the faster they pay off their home loan. Max loan amount is $2,000,000 for total facility subject to ING DIRECTs credit approval criteria Higher amounts may be available on a case by case basis and at ING DIRECTs discretion. Available to personal borrowers only. NOTE: Maximum of two borrowers per Orange Advantage Maximum of two Orange Advantage home loans per customer. Features of the Orange Advantage Home Loan include: - A linked Orange Everyday transaction account - Salary crediting and depositing of other regular income into the Orange Everyday offset account to minimise interest charges - The ability to withdraw funds from the Orange Everyday using a Visa Debit Card - Life-of-loan interest rate discounts apply subject to combined residential borrowings (excluding Lo-Doc) with ING DIRECT. Key Benefits: - No application fee - Low annual fee - No fees for making additional repayments & unlimited free redraw - No ING DIRECT fee when varying your Orange Advantage - Direct salary crediting - Access to offset funds via EFTPOS, ATM, BPAY, Online and Phone banking - Unlimited free transactions at any ATM in Australia (ATM owner fee will be rebated) - International transfers via online banking Make additional regular or lump sum repayments at any time. No minimum redraw. Redraw available via BPay or Online & Phone Banking. Portability available, substitution of security subject to ING DIRECT credit approval criteria being met. Can be combined with Fixed Rate, Smart Home Loan, Action Equity and Mortgage Simplifier. Split loans allowed, can be split with other loan types. Maximum of 2 Orange Advantage home loans per customer Business purposes permitted except for working capital and tax liabilities. 100% Offset account Details: If there are joint borrowers each borrower will have a Visa Debit Card. A maximum of 2 Visa Debit Cards can be issued. - No ING DIRECT ATM fees - ING DIRECT will reimburse the ATM owner fee at any ATM in Australia, regardless of the amount being withdrawn International Transfers Available via Online Banking. EFTPOS Bonus: $0.50 for cash withdrawals of $200 or more in a single transaction
LVR includes LMI 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 90%, a minimum of 5% 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.