ING DIRECT lifts rates, cuts exit fees

Effective from today, ING DIRECT will increase its residential variable home loan rates by 0.38 per cent p.a – taking the rate on its mortgage simplifier to 7.12 per cent p.a.

Speaking about the rate hike decision, a bank spokesperson said the increase reflects a continued rise in the cost of funding home loans and the recent Reserve Bank cash rate increase.

You’re out of free articles for this month

Log in Sign up

To continue reading the rest of this article, please log in.

Username or Email

Password Forgot password?

Keep me signed in on this device.

If you check this box before you log in, you won’t have to log back into the website next time you return, even if you close your browser and come back later.

If you check the box above before you log in, you won’t have to log back into the website next time you return, even if you close your browser and come back later.

---

or

---

Login with a Passkey

Create free account to get unlimited news articles and more!

First Name

Last Name

Mobile

Email

Organisation Type

Mortgage or Finance Brokerage Mortgage or Finance Aggregator Accounting Firm Financial Advice Practice Real Estate Agent Property Manager Financial Institution Fund Manager Educational Institution or University Association, Institute or Not-for-Profit Government Insurance Provider Technology Provider Media, Consulting or Recruitment Other

By becoming a member, I agree to receive information and promotional messages from Smart Property Investment. I can opt out of these communications at any time. For more information, please visit our Privacy Statement.

Need help signing up? Visit the Help Centre.

But while the lender has raised rates out of step with the RBA, it is determined to remain competitive within the industry – abolishing its Deferred Establishment Fees for new and existing residential home loan customers.

The decision is expected to encourage further competition in the Australian home loan market.

 

 

Want to see more stories from trusted news sources?
Make Smart Property Investment a preferred news source on Google.
Click here to add Smart Property Investment as a preferred news source.

Free investor loan check

Better property decisions start with smarter lending.

A free 15-minute finance check for property investors.

15 minutes Free No obligation

What are your lending goals?

Choose a goal to request a callback.

Buy Buying againCheck my borrowing position → Equity Equity or refinanceReview my current loans → Plan Loan strategyGet a second opinion →

Ready to talk?

Book a 15-minute call →

Finni Pty Ltd · Australian Credit Licence 384324 · Privacy

Tags:

• Latest

Share