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ING Home Loan from 1.99% Owner Occupied P&I Variable "Basic" + 0.25% Heroes Home Loans Broker Cashback

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ING Home Loan from 1.99% Owner Occupied P&I Variable "Basic" + 0.25% Heroes Home Loans Broker Cashback
Go to Deal
AssociatedWilson Heroes HL @ Heroes Home Loans on 24/01/2022 - 22:27 ing.com.au (418 clicks)
Last edited 25/01/2022 - 02:08 by 1 other user

Hi All Ozbarginers, please find one of the latest competitive offers in the market, especially with big 4 raising rates this one of the few lenders that offer a rate just under 2%.

Owner Occupied P&I

ING variable rates "Basic" Mortgage Simplifier - no annual fee, no offset, free redraw.
• 1.99% (CPR 2.02%) up to 80% LVR

ING variable rates "Package" Orange Advantage 100% offset $299 annual fee.
• 2.29% (CPR 2.64%) up to 80% LVR

ING Fixed rates under Orange Advantage Package up to 80% LVR

2.04% for 1 years fixed for home loans (CPR 3.94%)
2.49% for 2 years fixed for home loans (CPR 3.84%)
2.89% for 3 years fixed for home loans (CPR 3.81%)

Investment Occupied P/I

ING variable rates "Basic" Mortgage Simplifier - no annual fee, no offset, free redraw.
• 2.29% (CPR 2.32%) up to 80% LVR

ING variable rates "Package" Orange Advantage 100% offset $299 annual fee
• 2.34% (CPR 2.69%) up to 80% LVR

ING Fixed rates under Orange Advantage Package up to 80% LVR
2.34% for 1 years fixed for home loans (CPR 4.56%)
2.69% for 2 years fixed for home loans (CPR 4.42%)
3.09% for 3 years fixed for home loans (CPR 4.35%)

ING $3000 Home Loan Refinance Cashback Promotion for (>500K, <80% LVR)
APPLICATION MUST BE SUBMITTED BEFORE THE 31th of MARCH 2022
Terms & conditions apply - https://drive.google.com/file/d/1Y-mebi_q9edpwqSvonPOTpWbrZW…

0.25% Broker Rebate
In addition to bank rebates, Heroes Home Loans gives a rebate of 0.25% of loan size (net at drawdown) for any bank or product, [ONLY APPLICABLE VIA BROKER] Cash Rebate is paid 50/50 after 1 month and 18 month of settlement or if you refinance after 12months but still use our service for the refinance you will still receive the second payment. Please find attached terms and conditions

Whilst these offers are very compelling, they will not suit everyone and not everyone will qualify for them - please therefore contact us to confirm the best deals you could qualify for from our panel of over 45 lenders before applying

Wilson Yuan
Managing Director
M : 0479107213
E : [email protected]
W: www.heroeshomeloans.com.au

Credit Representative Number is 530101 under Australia's Services Australian Credit License (ACL) 389328 © 2021 HEROES HOME LOANS AUSTRALIA PTY LTD

Mod: Removed duplicate offers from title and reduced amount of broker information in accordance with posting guidelines.

Financial Cashback Home Loan Loan Refinance

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closed Comments

  • Trishool on 24/01/2022 - 22:32
    +1

    My home loan is already with ING. Can I refinance through you to get the reduced rate and cashback on the mortgage simplifier at 1.99%?

    • OzBaggins on 24/01/2022 - 22:39

      No

      • poodlfat on 25/01/2022 - 11:10
        +1

        why is this negged? Its true as to my experience. Can someone provide evidence to the contrary?

        • OzBaggins on 25/01/2022 - 11:11

          Lol yup I'm not sure, don't shoot the messenger boy hey - I don't make the rules I just genuinely provided the correct answer haha.

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 25/01/2022 - 11:26

      Hi Trish, you can refinance with other lenders out there that offer similar rate to 1.99%. I have sent you a PM.

  • UncleRico on 24/01/2022 - 22:45
    +2

    Just an upvote for you after I refinanced with ING last month following your comprehensive post listing rebates and a summary of lenders details in Nov.

    ING turned around my approval faster than Athena, despite starting the Athena application four weeks earlier and having no cashback incentive. Have heard mixed reviews about their service, but so far I've been happier and they were infinitely easier to deal with than Athena.

    Edit - full disclosure - ING charge a rate lock fee of $750 which is 3-5x what other lenders charge. If I'd have known that up front, I probably wouldn't have bothered even though it did save me a few points on their two year fixed price…

    • Hendrix on 10/02/2022 - 20:11

      What's a rate lock fee? Is this just for fixed rates. Also I am considering refinancing with ING. What is their app and customer service like?

  • kimlo on 24/01/2022 - 22:47

    Does 3k cover things like exit/application fees, or would you still be out of pocket generally speaking?

    • UncleRico on 24/01/2022 - 22:50

      It doesn't cover overheads. In my case, annual fees, settlement and other out of pockets will add $1,000 to an average $600k loan, whilst their rate lock fee is an offensive $750 if you want it.

      • MkVIGTI on 25/01/2022 - 00:11

        I think he means will $3k cashback be enough for cover all the fees, with your example there should still be $1250 cashback after all the fees?

      • GENAB108 on 25/01/2022 - 06:43

        Lock in rates is always charged as a proportion to your overall loan. I'm not sure that amount is any less with other lenders.

        • UncleRico on 25/01/2022 - 21:24

          Not so with all lenders.

          Many - if not most - charge a fixed fee. Check the forums and posts for recent summaries from brokers listing the standard fees and charges.

  • Jaspa7 on 24/01/2022 - 22:59

    is it worth haggling to come down from my current 2.72% variable?

    • UncleRico on 24/01/2022 - 23:01
      +1

      Yes. Either that or churning…

      https://www.inc.com/jim-schleckser/why-einstein-considered-c…

    • dejaavuu on 24/01/2022 - 23:06
      +2

      i was on 2.72 and called them the other day and they dropped it down to 2.34

      • Jaspa7 on 24/01/2022 - 23:12

        awesome, thanks! that was more what I was after.. as I'm currently only behind $60k which I will offset within the next year.. I wasn't going to call up if it was only a drop of like 0.05% that I got last time which equates to <$30..
        now 0.38% that equates to ~$230 for a 15min phone call.. no brainer

      • Trishool on 25/01/2022 - 01:52

        Which bank? Was that ING?

        • dejaavuu on 25/01/2022 - 13:03

          yeah that was ING

    • chicky682 on 24/01/2022 - 23:09
      +1

      Yes. I was on a higher start rate than you, so they wouldn't go close to new mortgage rates. However I went from 3.09% to 2.64% just with a 15 minute phone call.

      • Hendrix on 10/02/2022 - 20:12

        I am considering refinancing with ING. What is their app and customer service like?

        • chicky682 on 11/02/2022 - 09:30

          The app is basic but pretty good. Customer service I haven't used very much, but they're a bank so it's all good until something goes wrong;)

    • Tuttle on 24/01/2022 - 23:19
      +1

      Started just below 3% half a year ago, and a series of phone calls now has me at 2.20%. Threatening to walk every time seems to do the trick (coming armed with alternate offers always helps)

      • Jaspa7 on 24/01/2022 - 23:22
        +1

        mind sharing these alternate offers? as I'm not as (confidently) financially literate over the phone, and will likely give point them at an offer which they will laugh at due to missing something and not equating apples with apples

      • ruriruri on 25/01/2022 - 14:57

        How did you do it? ING won't lower my rate.

      • azzatron on 25/01/2022 - 16:14
        +2

        After seeing this I decided to call ING and ask for a rate reduction also. Got it reduced from 2.78% to 2.19% so am happy enough with that for now. Spent longer on hold than I did with the customer service person.

    • mitch21 on 25/01/2022 - 04:00
      +2

      The variable portion of my home loan with them was 2.64% and I got them down to 2.24% only about 10 days ago. I tried for under 2% but they wouldn't go any lower. Definitely worth giving it a crack.

      • Jaspa7 on 25/01/2022 - 11:51
        +1

        just got mine down to 2.24 as well.. only had to hold the line after initial higher offer. thanks everyone! :D

  • thekensai on 24/01/2022 - 23:59

    how long does ING usually take to settle an application?

    • MkVIGTI on 25/01/2022 - 00:13

      Recently started my Refi application with ING and my broker said it's 22 days turnaround atm…

    • immu999 on 25/01/2022 - 03:19

      Applied on 16th Dec. Was told 9 working days, then 21 and now they are saying more than a month.
      Still waiting for the application to be picked up. Thinking of changing the bank now.

  • Tsapena on 25/01/2022 - 04:35
    +4

    It's a well known strategy of ING to rope you in with an attractive rate and then jack up your rate as time goes by citing the ever increasing cost of funds from overseas.
    Beware, be very aware !

    • poodlfat on 25/01/2022 - 11:11
      +2

      This was my experience. When there is RBA cuts they will pass on a small cut to your rate, but several times they have also increased it out of the blue

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 25/01/2022 - 11:20
      -2

      I have to disagree, I have never seen a bank that has never increase their rates before. All Banks/Lender follow the market. It's usually the big 4 that raise the interest rates first with the rest of the market follow behind . For example you can see the last 4-5 rates increase were all done by the big 4 first, with the small lenders follow later in suit. Also, if you dont want a variable rate you can always take the 1 fixed - 2.04% or the two year fixed 2.44%

      • Tsapena on 25/01/2022 - 19:29

        You can say whatever you like, truth is already out

        • Jennny on 25/01/2022 - 21:37
          -1

          Wow someone is incredibly rude.

          • Tsapena on 25/01/2022 - 21:42
            -2

            @Jennny: Factual not rude Mrs snowflake

            • Jennny on 25/01/2022 - 21:48

              @Tsapena: Wow you're such a misogynist. Keep typing away in your mom's basement.

              • Tsapena on 25/01/2022 - 22:10
                -1

                @Jennny: You know nothing about me, I know your a sensitive snowflake, that thinks everyone is rude unless they agree with you.
                Do yourself a favour- Harden up and pull your head out

  • Dandaman21 on 25/01/2022 - 05:03
    +1

    Athena at 1.89% (assuming your LVR is decent) and no rate creep unlike ING. But hey, if you enjoy calling them every few months to try and argue your way down to what new customers are being given…

    • lknight on 25/01/2022 - 10:42

      or you can simply churn!

  • AssociatedWilson Heroes HL @ Heroes Home Loans on 25/01/2022 - 11:25

    Athena offers no cashback so you will have to cover the third party fees (discharge fee, solicitor, government registration fees etc). They also have a very strict credit policy and can only do simple PAYG/vanilla applications with very good credit scores and certain suburbs/locations. Furthermore, they are not a bank and will not be covered by the government $250 000 guarantee, so if they do collapse you could potentially lose your redraw or money in the offset as they can use that money to pay down the loan.

  • Mojorisin2016 on 28/01/2022 - 15:35

    Do you cover Victoria? Looking to refinance.

  • [Deactivated] on 30/01/2022 - 10:05
    +1

    I contacted Wilson 3 months ago to refinance my home loan. I initially asked for a offset account which he said no problems. Then proceeded to give me home loan papers for a home loan account with no offset account. He stopped replying to me 1 week ago. As a doctor I don't have a lot of time so for him to screw me around for 2 months and then stop replying after I requested an offset account suggests to me he is after the money and he knows he won't make as much if I have an offset account attached to my home loan. AVOID AT ALL COSTS AND DONT WASTE YOUR TIME.

    • UncleRico on 30/01/2022 - 18:29

      Interesting.

      Why would a broker receive commission for an offset loan?

      • [Deactivated] on 01/02/2022 - 08:18

        The issue was I told him from the beginning I needed an offset loan yet he still wasted my time. It was also partial offset. I wouldn't have cared if Wilson said can't help you here but he wasted my limited time filling out forms then ghosts me. Poor service imo don't over promise when you can't deliver.

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