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Mortgage Simplifier

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  ING Mortgage Simplifier Variable Rate

 

 

Lender

Lender Name

ING

Product Name

MORTGAGE SIMPLIFIER

Product Type

BASIC VARIABLE

Interest Rates

Comparison Rate Schedule

Latest Interest Rates

Compare Other Lenders

Redraw Facility

No minimum amount. Redraw Fee - Nil

Offset

Not applicable

Fees

Application Fee Nil
Account Keeping Fee $0
Additional Valuation Fee $250 to be paid upfront
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
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:
Up to 95% for Investment Loans plus capitalised LMP Premiums
Refer to Special Lenders Criteria for details

Repayment Type

Principal & Interest
Interest Only

Repayment Options

P & I Fortnightly or monthly
Interest Only monthly
Additional repayments permitted

Repayment Method

Fortnightly or monthly repayments, Direct Debit

Extra Repayments

Yes

Special Offers

Interest rate discount available when borrowing $300Kor more in aggregate, excluding Lo Doc and commercial loans.
0.06% off the Mortgage Simplifier Rate.

Term

Loan Term Up to 30 years

Loan Size

Minimum $50K
Maximum Loan - $2,000,000 for total facility if within ING Bank credit criteria
Higher amounts may be available, subject to individual assessment
and stricter credit criteria

Mortgage Insurance

Lenders 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.

Statements

Statements issued six monthly.

Portability

Yes-subject to approval (Fees apply)

Split Loan Facility

Yes-subject to approval
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.

Special Notes

 

Target Market

Borrowers requiring a competitive variable interest rate loan with a
wide range of flexible features, at no additional cost.

 

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