ING mortgages just got cheaper _and dearer



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ING Australia has today made a series of changes to its home loan interest rates, with some falling by up to 17 basis points and others rising by up to 41 points.

In terms of interest rates, the winners are (see tables below):

  • Owner-occupiers with a variable Mortgage Simplifier mortgage
  • Investors with a variable Mortgage Simplifier mortgage
  • Investors with a variable Orange Advantage mortgage

And the interest rate losers are:

  • Investors with a fixed-rate mortgage

Mortgage Simplifier mortgages

Owner-occupiers with a variable mortgage paying principal and interest

Home loan Interest rate Comparison rate Change to interest rate
Aggregate borrowings $1m+ and LVR less than or equal to 80% 3.69% 3.72% -0.10%
Aggregate borrowings $500k+ to $1m and LVR less than or equal to 80% 3.73% 3.76% -0.10%

Aggregate borrowings $150k+ and LVR less than or equal to 80%

3.73% 3.76% -0.10%
Aggregate borrowings $150k+ and LVR greater than 80% and less than 90% 4.02% 4.04% -0.17%

Owner-occupiers with a variable mortgage paying interest-only

Home loan Interest rate Comparison rate Change to interest rate
Aggregate borrowings $1m+ and LVR less than or equal to 80% 4.09% 4.11% -0.10%
Aggregate borrowings $500k+ to $1m and LVR less than or equal to 80% 4.13% 4.15% -0.10%
Aggregate borrowings $150k+ and LVR less than or equal to 80% 4.13% 4.15% -0.10%

Investors with a variable mortgage paying principal and interest

Home loan Interest rate Comparison rate Change to interest rate
Aggregate borrowings $150k+ and LVR less than or equal to 80% 4.29% 4.31% -0.15%

Investors with a variable mortgage paying interest-only

Home loan Interest rate Comparison rate Change to interest rate
Aggregate borrowings $150k+ and LVR less than or equal to 80% 4.69% 4.71% -0.15%

Orange Advantage mortgages

Investors with a variable mortgage paying principal and interest

Home loan Interest rate Comparison rate Change to interest rate
Aggregate borrowings $150k+ and LVR less than or equal to 80% 4.24% 4.55% -0.05%

Investors with a variable mortgage paying interest-only

Home loan Interest rate Comparison rate Change to interest rate
Aggregate borrowings $150k+ and LVR less than or equal to 80% 4.64% 4.95% -0.05%

Fixed-rate mortgages

Investors paying either principal and interest or interest-only

Home loan Interest rate Comparison rate Change to interest rate
1-year fixed 4.32% 5.56% +0.08%
2-year fixed 4.37% 5.45% +0.03%
3-year fixed 4.55% 5.39% +0.16%
4-year fixed 4.69% 5.35% +0.10%
5-year fixed 4.90% 5.37% +0.41%
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