Note: The rates shown in the above header do not reflect ING Directs current interest rates. For the latest ING Directs rates please contact our office on 1300 726 136 or visit the ING Direct website

Lender

Lender Name

ING

Product Name

CONSTRUCTION

Product Type

VARIABLE

Redraw Facility

Not available until after construction is completed
Conditions apply for access to Telephone and Internet Banking Note Redraw not available during the construction period

Offset

Not applicable

Fees

Establishment Fee Nil

Account Keeping Fee Nil

Additional Valuation fees commence at $200 for a standard valuation which are paid upfront, refer to Postcode Valuation Costs in the INGD Loan Applications folder.

Final Valuation Fee applies, refer to Postcode Valuation Costs in the INGD Loan Applications folder.

A legal fee of $220 minimum applies and is charged directly by the solicitor (displayed as Mortgage Preparation). Additional fees may be payable, for further information please consult your local ING consultant or refer to ING DIRECT’s Pre-Settlement Fees & Charges brochure.

A $250 fee is charged if you make changes to the ING DIRECT’s letter of offer between date of issue and settlement.

Increase/Decrease $100

Deferred Establishement Fee:

1 Year $1400

2 Year $1050

3 Year $700

Repayment Type

During Construction:

Monthly repayments, Direct Debit only.

After Construction:

Repayment Options

Fortnightly or monthly repayments

Repayment Method

Fortnightly or monthly repayments, Direct Debit, Internet Banking

Extra Repayments

No

Loan Size

Minimum $50K

Maximum Owner Occupier $2M

Mortgage Insurance

Lenders Mortgage Insurance required 80% LVR (refer to postcode policy)

Acceptable Income

Applicant Types
PAYG Income Earners
Self Employed
Retirees evidence of ongoing capacity to repay after retirement is mandatory

Product Change

Available after completion a fee of $250 applies.

Statements

During construction statements issued monthly. After Construction as per product applicable.

Portability

Yes (fees apply)

Split Loan Facility

Not available