|
Lender |
 |
|
Lender Name |
ING |
|
Product Name |
FIXED RATES |
|
Product Type |
FIXED |
|
Interest
Rates |
Latest
Interest
Rates
Compare
Other
Lenders |
|
Redraw
Facility |
Not
available
during fixed
term period. |
|
Offset |
Not
available |
|
Fees |
Application
Fee on fixed
rate loans
Application
fee of $499
(NSW, VIC,
QLD) and
$299
elsewhere,
will apply
to fixed
rate loans.
Note: For
fixed rate
loans, where
a client
also
requests to
take Rate
Lock-In the
application
fee will be
reduced to
$101. The
Rate Lock-In
fee of $499
must be paid
for each
fixed Rate
Lock-In
taken.
Examples:
A customer
wants a
fixed rate
loan
(without
Rate
Lock-In) the
application
fee is $499
(NSW, Vic)
and $299
elsewhere.
A customer
wants a
fixed rate
loan (with
Rate
Lock-In) the
application
fee is $101
plus $499
Rate Lock-In
fee (all
states).
A customer
wants two
fixed rate
loans (both
with Rate
Lock-In) the
application
fee is $101
plus $998
Rate
Lock-In fee
(2x$499 all
states).
Account
Keeping
Fees: Nil
Additional
Valuations
fees
commence at
$200 for a
standard
valuation
which are
paid
upfront,
please refer
to your
Relationship
Manager for
associated
costs in all
instances.
Fees for
Changes to
the Letter
of
Offer:$250
applies to
make changes
to the
Letter of
Offer
between
disclosure
date and
settlement.
Document &
Settlement
Fee Fee
displayed as
Mortgage
Preparation
)
Document &
Settlement
Fee $165 (WA/SA/ACT/TAS)
Document &
Settlement
Fee $220
(NSW/VIC/QLD)
Additional
Application
fees may
apply to
non-Standard
Loans where
there is
more than
one security
property, or
where a
combination
loan is
required.
Increase /
Decrease $
$100
Deferred Est
Fee
1 Year $1400
2 Year $1050
3 Year $700
4 Year $ 350 |
|
LVR |
LVR without
Mortgage
Insurance up
to 80%
LVR with
Mortgage
Insurance
Up to 100%
for Owner
Occupier
including
LMI Premium:
Up to 95%
for
Investment
Loans plus
capitalised
LMI Premiums
Refer to
Special
Lenders
Criteria for
details |
|
Repayment
Type |
P& I or
interest
only
available
for maximum
of first 5
years of
loan term.
Owner
Occupier and
Investment P
& I and
Interest
Only options
available. |
|
Repayment
Options |
Fortnightly
or monthly
repayments
Monthly
repayments
only on
Interest
Only loans |
|
Repayment
Method |
Direct Debt
Only |
|
Extra
Repayments |
Available up
to $10,000
per year. |
|
Special
Offers |
|
|
Term |
Maximum: 30
years |
|
Loan Size |
Minimum $50K
Maximum
$2million |
|
Mortgage
Insurance |
Required for
loans over
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 |
A fee of
$250 applies
to switch
from any
existing
loan type to
another,
with the
following
exceptions:
Standard
Variable
Rate loan
occurs at no
cost. If the
customer
wishes to
switch to
another loan
type at this
time, the
normal
switch fee
of $250
applies
(break costs
may also
apply to
Fixed Rate
Loans). |
|
Statements |
Statements
issued six
monthly. |
|
Portability |
Yes-subject
to approval |
|
Split Loan
Facility |
Yes, minimum
of $50,000
for Fixed
Rate Term
In any
combination, the
highest of
the
application
fees is
payable for
the first
loan. For all
subsequent
loans in a
combination,ie.2nd
and 3rd loan
An
additional
fee of $100
per loan is
payable.
Construction
Loans and Lo
Doc Loans
cannot be
combined
with any
other loan
type.
Minimum of
$50,000 per
loan in a
combination.
Where there
are
independent
applications
against
independent
securities
for the same
customer
,each loan
will incur
separate
application
fees and
commission. |
|
Special
Notes |
|
|
Target
Market |
Applicants
who require
the security
of knowing
that their
interest
rate will
remain
unchanged
for the
fixed term
they select,
but also the
freedom to
make
additional
repayments
and
therefore
repay their
loan sooner. |
