This was posted 7 years 9 months 29 days ago, and might be an out-dated deal.

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$1500 Cashback from ING Home Loan by Online Application

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$1500 Cashback from ING Home Loan by Online Application
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dcep on 01/04/2017 - 14:28 form.e.ingdirect.com.au (546 clicks)
1500bonus

Not sure if this is a good deal as some may find a much better homeloan rates from other banks.

Also i remember someone mentioned about ING not being upfront/transparent with their fees.

How to get your $1,500 cashback

    1) Apply for a home loan of $300,000 or more at ingdirect.com.au/homeloans by 31 May 2017.

    2) Enter the promotional code 1500bonus (before you accept your terms and conditions).

    3) Settle your home loan by 31 August 2017 and set up repayments from your Orange Everyday.

    4) Purchase an ING DIRECT insurance policy online by 31 August 2017 and pass the 21 day cooling off period.

*$1,500 cashback offer only available for eligible customers who apply online at ingdirect.com.au/homeloans and enter the promotional code 1500bonus. We'll pay your $1,500 in the month after you complete the steps above.

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closed Comments

  • Gandalf the Thrifty on 01/04/2017 - 15:06
    +1

    I always get worried when ozbargains start like this…

    Not sure if this is a good deal

    Loan plus their own insurance sounds good for ING not necessarily the customer

  • t25 on 01/04/2017 - 15:19

    Now I need to look for some bargains in the property market.

    • wetsandwich on 01/04/2017 - 16:49
      +8

      Got a time machine handy?

  • BluBoy on 01/04/2017 - 16:44
    +7

    From my own experience with ING…

    You'll have the cheapest homeloan for about 3 to 6 months… And then it'll be increased 'due to cost increases', whilst at the same time they are running another new promotion for the cheaper rate.

    • Windows7forever on 01/04/2017 - 16:51
      +1

      Are you still locked in?

    • Gandalf the Thrifty on 01/04/2017 - 17:33
      +3

      We complained and got shuffled to the retain business team but they couldn't match the new customer loan rate and only gave a small % discount then bit later they canned the rebate scheme for homeloans similar to the 5% paywave one they've also scrapped. Not much left to distinguish them from other cheaper vendors.

      • BluBoy on 01/04/2017 - 18:34

        I did the exact same thing too. The loss of rebate just made the whole thing even worse.

        Not locked in, but it costs a few hours of paperwork and a few grand to keep switching homeloan providers.

        • bejahi on 02/04/2017 - 18:25

          A few grand… No it doesn't. It's that attitude that means the banks can stiff people and they know there'll be no consequence apart from increased profit.

        • BluBoy on 02/04/2017 - 19:17
          +1

          @bejahi:

          ING Discharge Fee is $250
          Mortgage Deregistration Fee is $175
          Mortgage Registration Fee is $175
          Plus… Application Fees, Settlement Fees, Bank Valuation Fee, Title Search Fee, Mortgage Document Fees can be $900
          Plus… Lenders Mortgage Insurance, if required, which can be ~$50,000! for a property worth under a million!

          So yes. It can cost a few grand (or more!) to refinance.

  • Jrimbo on 01/04/2017 - 17:51
    +2

    I'd agree with comments above, currently I'm still an ING customer, in fact a long time customer. Called them about a month ago to see if they could offer me a better deal, the customer retention team offered me only 0.1% discount, I said thanks, but no thanks, they used to be good and competitive. Shopping around right now.

    • T-man on 01/04/2017 - 18:34
      +1

      0.1% is better than nothing, I called and they said no to me.

  • dawyndham on 01/04/2017 - 18:40

    I'm an ING home loan customer, and next time I need to change the loan in any way I'll be looking to move to a new lender.

    A recent change of securities on the loan which I was told would be a 4-week process took over 4 months. The only departments that contact customers are the call centre / web message team. Any correspondence with another department has to go through them, so you are looking at 2-3 days to get even a simple question answered. That is if they get back to you at all.

    Also you would think a bank who has no physical branches would have a secure way of sending them documents electronically, but they don't. You have the choice of AusPost or cleartext email. You can't encrypt the documents you send them because nobody there can figure out how to decrypt them.

    So yeah, they were cheap when I got the loan, but no longer worth the hassle especially seeing as they are no longer as cheap as they were.

  • jesho on 01/04/2017 - 21:56

    Can anyone recommend a good deal for an owner-occupied Interest only home loan w offset or redraw? CBA is offering 4.10% comparison rate which is quite competitive.

    • Stahh on 01/04/2017 - 22:34

      Whats the base rate ?

      • jesho on 01/04/2017 - 23:12

        4.09%

    • Cri3 on 02/04/2017 - 15:15

      Currently getting 3.78% from HSBC

      • jesho on 02/04/2017 - 18:53

        Can you please link? Wasn't aware they offered Interest Only.

        • Cri3 on 12/04/2017 - 17:14

          sorry i missed the point about interested only.

          mine is principle & interest, owner occupied w offset.

          Didn't know you can get owner occupied interest only….interesting

  • brettd on 03/04/2017 - 09:13
    +2

    Agree with other comments regarding ING, they offer good sign up offers to get you in. Then slowly rise your fees and take stuff away, since refinanced to HSBC which is saving me >$1k/year due to their rates/fees.

    Also, their customer service for loans when you want to change anything is terrible, takes months to change/close a loan.

  • mitchellp on 21/04/2017 - 14:00

    my blurb about ing:

    When purchasing our home, they charge solicitor fees of $400 on top of the settlement fees. They also did the same when selling our home (another $400).

    When I had a mortgage simplifier with them, they started giving percentage "discounts" for new loans (such as for having low LVR or borrowing more) however existing customers got stuck with their high interest rates. My variable rate was much higher then new customer offers because of this.

    When depositing the bank cheque, I express post the cheque to ING. ING receive the cheque at 9:31am (I have tracking number), however do not process until the next day. They then take 3 business days to clear until i can put in a savings accounts. All of this cost me over $500 in loss of interest which no other bank will do.

  • axlfan on 21/05/2017 - 13:40

    Anyone have experience with loans.com.au?

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