ING DIRECT Mortgage Simplifier Loan


The ING Direct Mortgage Simplifier offers relatively low rates, particularly for owner-occupiers who are borrowing $150,000 or more and have a deposit of 10 per cent or higher.

Investors and owner-occupiers who are borrowing less than $150,000 can expect to pay slightly higher rates, however, they are still competitive compared to some standard variable rates on the market.

The loan also allows you to make additional repayments so that borrowers can pay off their loan faster. A redraw facility is available for these extra repayments, so there’s plenty of flexibility there for balancing your finances.

The loan is also portable, and can be combined with other ING Direct loans, which gives borrowers a wide range of options when it comes to managing their mortgage or purchasing new property. Combined with the fact that interest only payments are available, this opens up several possibilities for investors to explore.

In keeping with the loan’s flexibility, borrowers can choose to make either monthly or fortnightly repayments, and these can be made through either salary credit or direct debit, depending on what suits you.

Who is the ING DIRECT Mortgage Simplifier Loan good for?

The ING Direct Mortgage Simplifier Loan will suit borrowers looking to pay off their loan as quickly as possible while avoiding excessive fees. The interest rate isn’t the lowest available but access to a redraw facility allows borrowers to make extra repayments, reducing the principle, while knowing you can access your equity at a later date if need be.

The loan will also suit investors or borrowers looking to consolidate their debts into one home loan. Investors may be particularly attracted to this loan as it comes with the option to make interest only repayments for a period of time.

Review - What RateCity says

The ING Direct Mortgage Simplifier Loan is a no nonsense loan with a good deal of flexibility and relatively low fees. Its portability, interest-only payment options and ability to be combined with other ING Direct loans mean that it will be suitable for investors, while its interest discounts, lack of application fees, and several payment options give owner-occupiers something to smile about.

It’s possible that it’s small number of features, in particular a lack of offset facilities, will mean that it’s not suitable for all borrower’s needs. It will nonetheless fit the bill for anyone looking for a straightforward, low fee loan that will give them flexible repayment options over the life of the loan.

ING DIRECT Mortgage Simplifier Loan Options

With a wide range of loan sizes and deposit amounts, the ING Direct Mortgage Simplifier has something to offer everyone.

Advertised rate
Comparison rate*
Monthly repayment
Go To Site

Variable Rates from


Advertised rate


Comparison rate
  • Ability to make additional repayments.
  • Access to home loan specialists to guide you through the process.
  • No monthly or annual fees.
  • No offset account available.
  • Must have transaction account with ING Direct to use redraw facility.
  • Higher rate for investors.

Must have proof of income.

Must have a deposit of at least 5 per cent.

Must meet serviceability criteria of the lender.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
  • Estimated upfront fees: $299.00
  • Discharge fees: $250
  • Ongoing fees: $0

The lack of fees attached to the ING Direct Mortgage Simplifier Loan should appeal to a wide range of home buyers, including investors and refinancers. Not only does it require no monthly or annual fees, but the application fee is also waived.

ING Direct will even cover part of the valuation fee for borrowers, though it’s worth remembering that the price of a typical valuation will exceed that amount. A discharge fee will apply at the end of the loan term.

  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Fortnightly repayments
  • Monthly repayments
  • Loan allows split interest rate
About ING

ING Direct is a Sydney based subsidiary of the multinational ING group, focusing on offering simple, sustainable, and flexible products to its customers. They have a range of fixed and variable rate home loans available, meeting the needs of a variety of different customers. ING Direct has no branches, but their services can be accessed via their call centres or online.

Compare your product with the big 4 banks, or add more products to compare