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Variable Rates from 2.35% for Loans $1 Million with LVR <= 80% @ ING

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Variable Rates from 2.35% for Loans $1 Million with LVR <= 80% @ ING
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Store RepNick-AzuraFinancial @ Azura Financial on 24/09/2020 - 15:47 ing.com.au (199 clicks)
Last edited 24/09/2020 - 18:31 by 2 other users

Hi OzBargainers,

I hope you are all well!

We're pleased to advise that effective for new loan applications formally approved from Friday, 25 September 2020, ING variable interest rates will be reduced by 0.10% p.a. for owner occupied Mortgage Simplifier and Orange Advantage home loans with Principal & Interest repayments, LVR up to 90% and loan amounts above $150,000.

Basic Product

  • Aggregate Borrowings $1 million+ LVR less than or equal to 80% - 2.35% (CR 2.48%)
  • Aggregate Borrowings $500k to less than $1 million LVR less than or equal to 80% - 2.49% (CR 2.52%)
  • Aggregate Borrowings $150k to less than $500k LVR less than or equal to 80% - 2.49% (CR 2.52%)
  • Aggregate Borrowings $150k+ LVR greater than 80% and less than or equal to 90% - 2.59% (CR 2.62%)

Orange Advantage:

  • Aggregate Borrowings $1 million+ LVR less than or equal to 80% - 2.40% (CR 2.85%)
  • Aggregate Borrowings $500k to less than $1 million LVR less than or equal to 80% - 2.54% (CR 2.88%)
  • Aggregate Borrowings $150k to less than $500k LVR less than or equal to 80% - 2.54% (CR 2.88%)
  • Aggregate Borrowings $150k+ LVR greater than 80% and less than or equal to 90% 2.64% (CR 2.98%)
    For specific comparison rates please get in contact with myself so that I can calculate this for you based on your loan amount and term

Any refinances through Azura Financial will receive the following additional rebates per security:

  • $350,000 - $500,000 = $500
  • $500,000 - $750,000 = $750
  • $750,000 - $1,000,000 = $1,000
  • $1,000,000 - Upwards = $1,250

Rebates Are Paid Net of Offset/Redraw Post Settlement

We are also able to offer the following lender rebates:

  • ANZ - $3,000
  • St George - $4,000 ($4,000 for your first property and $2,000 every after)
  • Suncorp - $3,000
  • CBA - $2,000
  • Virgin - $2,500
  • BOQ - $2,500
  • Westpac - $3,000 ($3,000 for your first property and $2,000 every after)
  • NAB - $2,000

If you have had any issues submitting applications with any lenders recently please allow me to run your scenario again through a diverse panel of lenders and see if I can be of assistance.

Nicholas O’Sullivan at Azura Financial (azurafinancial.com.au)
email: [email protected]
mobile: 0422 699 383
ACL: 389328

Financial Home Loan Loan

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closed Comments

  • kapone on 24/09/2020 - 15:55
    +12

    This is an ad. Not a bargain

    • Store RepNick-AzuraFinancial @ Azura Financial on 24/09/2020 - 15:58
      -4

      Hi Kapone,

      We have found over the years that a lot of OzBargainers like to hear about additional incentives on top of bank offerings.

      Best Regards,

      Nick

      • bono on 24/09/2020 - 16:25
        +12

        I just want to put my two cents in here - I am very interested in keeping informed of the various rates on offer, to make sure I'm well prepared when negotiating with the bank about rate reductions, or knowing the potential savings if I indeed do swap lenders.

        Consider my dear ozbargainers, the savings you can make on your mortgage is probably larger than all the other bargains you can score in a year combined.

        ps not related in any way to anyone posting deals on ozbargain, just hopeful that the mortgage rate deals will continue as it's genuinely useful for me and I'm sure many other members here.

  • dyziplen on 24/09/2020 - 15:57
    +14

    We’ve got some news that we want you to know about. On 25th September 2020, we’re reducing the highest variable rate on the Savings Maximiser.

    Maybe you should post this as a deal too.

    • avoidfullprice on 24/09/2020 - 16:27
      +2

      Do it

    • AmperSand on 24/09/2020 - 18:47

      Second time this year too isn't it?

      • Manameck on 24/09/2020 - 20:13

        Third time :( March, July and this one in September

  • CyberMurning on 24/09/2020 - 15:57

    where is the investment property loan?

  • bausie on 24/09/2020 - 16:02

    Not much of a deal tbh given how competitive the market is for rates nowadays. Fixed 1 year and 2 tend to be the sweet spot. Also ING assess borrowing power at 8% which really kills it for most people.

    • [Deactivated] on 24/09/2020 - 16:17

      Sounds quite high given other banks use 2-3% buffer.

  • f4te on 24/09/2020 - 16:07
    +7

    Note that ING will aggressively* increase your rate compared to what they're offering new customers (*when there's rate movement again post-COVID).

    • [Deactivated] on 24/09/2020 - 16:17

      Why?

      • 191919 on 24/09/2020 - 16:42

        to make money?

      • soan papdi on 24/09/2020 - 16:45
        +4

        Because that's how ING is. I was on 3.21% when new customers were offered 2.84%. When I asked why they can't lower mine to match, the answer was about how new properties are serviced by a new round of financing and the monies cannot be mixed. I left.

        • bargainatoraah on 24/09/2020 - 17:02
          +1

          Yeh my bro had same experience

        • Name on 24/09/2020 - 17:08

          Yup. I'm with Suncorp. While they didn't pro-actively lower mine, i had called up twice over a 4 year period, but both times they were able to drop my rate while on the call.

        • Aussiecash on 24/09/2020 - 17:08

          same reply to me from ING

        • f4te on 24/09/2020 - 20:09

          I managed to get mine lowered twice, but had to go through their customer retention team and ask for discharge forms, etc. (Sometimes this worked, sometimes it didn't.) Got sick of it all and left too.

        • microsnot on 24/09/2020 - 23:35

          Can confirm. Once you're on the back book then they don't really care about keeping your business. They are heaps of new customers lured by their rates. Don't fall for the trap.

  • CachePC on 24/09/2020 - 16:16
    +1

    This or wait until rba drops rates to 0.1% official cash rate on 6th October and then pray ING passes it on in full.

    Ill pass

  • fantombloo on 24/09/2020 - 16:18
    +1

    Who do you reckon generally have cheesier portraits: loan brokers or real estate agents?

    • bargainatoraah on 24/09/2020 - 17:03

      Cold call insurance salesman

    • ONEMariachi on 24/09/2020 - 21:33

      I feel like Real esate agents are more creepy than cheesy.

  • Behappy on 24/09/2020 - 16:22

    Do they still have the referral program for savings account?

    • BadHorse on 24/09/2020 - 19:24

      I believe so but it’s reduced to 1.5% as of tomorrow. Plenty of better options out their now without conditions or with less conditions.

      • B Wat on 25/09/2020 - 00:31

        Curious to know where? Not honeymoon rates either?

        • BadHorse on 25/09/2020 - 20:27
          +1

          This is a spreadsheet that is maintained by the whirlpool community.

          Most of the time it is up to date.

          Banks such as Ubank, 84600, Up, ME have around 1.6%.
          Westpac has 3% for under 30s etc

  • clyde82 on 24/09/2020 - 16:47
    -2

    Greater than, or less than?? Wrong symbol perhaps?

  • justtoreply on 24/09/2020 - 16:57

    I do worry about people with loans $1m+ and 80% lvr…

    • LittleTicket on 24/09/2020 - 19:23

      Why? At a minimum they’ve put up $200k + whatever fees are involved. I’d say if you’ve scraped together that much you’re doing ok.

      • justtoreply on 24/09/2020 - 19:40

        I think people find it hard to evaluate job certainty. And banks don't do it at all. It's not bad in all cases, but a lot of these people will work in industries where redundancies are common

        I would want to be <80% lvr when buying a million dollar house.

  • GuyfromMelbourne on 24/09/2020 - 21:34
    +1

    No cashback no deal. I mean bank cashback not broker one. Broker is doing the best he can but ING deal doesn't look good.

    • El-Rhi on 25/09/2020 - 16:40

      Agree… it’s all about the cashbacks at the moment

    • goingDHfast on 26/09/2020 - 13:10

      Meh, cashback feels like bait and switch to me. Prefer the absolute lowest comparison rate.

      • GuyfromMelbourne on 26/09/2020 - 13:29

        Only if you stick around for more than 6 months.

      • El-Rhi on 27/09/2020 - 19:58

        Lowest rate might save you a grand or two over a year, but 3-4 cashbacks can net you $10k-$12k. I know which I’d prefer.

  • keithality on 26/09/2020 - 19:51

    Apart from the cashback, I think the real deal here is the OO 2.54% variable with an offset, which afaik is the lowest in the market?

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