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% |
