Lender

Lender Name

ING

Product Name

ACTION EQUITY LOAN

Product Type

EQUITY

Interest Rates

Comparison Rate Schedule

Latest Interest Rates

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Redraw Facility

Yes Cheque access Conditions apply for access to Telephone and Internet Banking

Offset

Not available

Fees

Establishment Fess  Nil
Account keeping fee Nil
Additional Valuations fees commence at $200 for a standard valuation which are paid upfront, please refer to your Relationship Manager for asscociated costs in all instances.
Document & Settlement Fee Fee displayed as Mortgage Preparation )
Document & Settlement Fee $165 (WA/SA/ACT/TAS)
Document & Settlement Fee  $220 (NSW/VIC/QLD)
Increase / Decrease $100
10 free transactions per month

LVR

LVR without Mortgage Insurance up to 80%
LVR with Mortgage Insurance Maximum  up to 90%

Repayment Type

Interest Only

Repayment Options

No repayments required until balance reaches 90% of approved loan limit

Repayment Method

Direct Debt, Salary Credit, Cheque, Automatic payment or deposits at any Westpac branch (using encoded deposit slip ) , Internet Banking, B Pay

Extra Repayments

Yes
No early payout fees applicable

Special Offers

Term

Reviewed every 5 years

Loan Size

Minimum $50K
Maximum $2M
Investment 90% for loan amounts up to $300,000

Mortgage Insurance

Required for loans over 70-80% 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.

Statements

Statements issued six monthly.

Portability

Yes-subject to approval (fees apply)

Split Loan Facility

Yes- fees apply

Special Notes

Target Market

Borrowers who require ready access to their equity for wealth creation or lifestyle improvement opportunities. Can be in a Company Name.