This was posted 2 years 2 months 29 days ago, and might be an out-dated deal.

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ING Refinance $3,000 Cashback, Minimum Loan $500,000 - Package Variable 4.09% (4.11% CR) under 80% LVR

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ING Refinance $3,000 Cashback, Minimum Loan $500,000 - Package Variable 4.09% (4.11% CR) under 80% LVR
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AssociatedJamesSimBroker @ Nectar Mortgages on 30/09/2022 - 23:16 ing.com.au (248 clicks)
Last edited 01/10/2022 - 15:00 by 1 other user

ING announced extension of ING’s $3000 Home Loan Cashback Offer to 31st Dec 2022. Great option for variable.

To be eligible, the below criteria must be met:

  • settles by 31 March 2023, and excludes refinances of existing ING
  • any ING home loan products with a minimum loan amount of $500,000 and LVR less than or equal to 80%.
  • limited to one $3,000 refinance cashback per application irrespective of the number of properties or borrowers.

Rates highlight:

Owner occupied P&I with comparison rate (CR)

  • Mortgage Simplifier Variable with redraw facility under 80% (OO PI) IR at 4.09% CR at 4.11%
  • Orange Advantage Variable with offset facility under 80% (OO PI) IR at 4.14% CR at 4.45%

Investment P&I with comparison rate (CR)

  • Mortgage Simplifier Variable with redraw facility under 80% (OO PI) IR at 4.34% CR at 4.36%
  • Orange Advantage Variable with offset facility under 80% (OO PI) IR at 4.39% CR at 4.70%

Other refinancing rebates available:

BOQ/Virgin Money/ME Bank - Get up to $2,500 cashback when you refinance your home loan before 30 Dec 2022 T&Cs apply.
MYSTATE - Get up to $3,000 cashback when you refinance your home loan until 30 Nov 2022 T&Cs apply.
St George - Get up to $4,000 cashback when you refinance your home loan until 31 Oct 2022 T&Cs apply
Please note that there are other rebates from other banks which we can show you as part of our report to you.

Comparison Rates

Each comparison rate is based on $150,000 over 25 years. These comparison rates apply only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Broker Rebate Terms and Conditions

We are offering a $500 upfront cashback for loan greater than $500k (excluding offset and redraw) for any fixed term loan of 2 years or more. $1,000 upfront cashback for loans $1M and above (excluding offset and redraw) for any fixed term loan of 2 years or more. When all loan is variable, rebate is paid in 2 instalments in 2 months and 24 months.
Maximum of 1 cashback per household.

My Profile:

Ex corporate accountant for over 10 years before joined my own mortgage broker as a trainee and has been a full-time mortgage broker for over 8 years. Recent review over 100 clients.. Won National Top Broker for customer service award 2022.

Contact me for a no obligation meeting via Calendly or call me directly.
James Sim - Senior Mortgage Broker
M: 02 8319 4862 / 0487 000 098
E: [email protected]
W: https://www.nectarmortgages.com.au/project/james-sim/
Australian Credit License number 387856

Financial Cashback Home Loan Loan Refinance

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closed Comments

  • bigbadboogieman on 30/09/2022 - 23:47
    +1

    What are the annual fees involved? And discharge fee?

  • Tsapena on 01/10/2022 - 06:16
    +14

    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 !

    My current rate is 4.89 %

    • 2pro4sho on 01/10/2022 - 06:45

      Sneaky sneaky

    • BaeSuzy on 01/10/2022 - 08:13

      question is, when did you settle though?

    • vovikdrg on 01/10/2022 - 08:32

      Well you get your cashback and move on?

    • bloopzorm9 on 01/10/2022 - 08:41
      +2

      I've been with ING for years and never had a rate increase outside the adjustments to the cash rate.

      Also, potentially misleading announcing the rate you are on and not including the date of commencement. Anyone that is on variable and hasn't refinanced in the last month or two is going to be on a higher rate than this deal. I'm assuming you were on 2.xx and then copped the cash rate increase.

    • The Delray Misfits on 01/10/2022 - 09:35

      only an issue if you havent paid off the loan

      this works for those who have more money>loan

    • aeezy on 01/10/2022 - 09:44

      I'm with ING as well and was considering asking them if they would offer me this rate. Is there any point in asking or they just flat out won't reduce your rate once they have you locked in as a customer?

      • Slo20 on 01/10/2022 - 09:46

        Always worth asking. Worst they say is no.

      • fullmetal on 01/10/2022 - 10:44

        I have the same experience with all banks. New customers always get a better rate, my advice is just change bank.

      • jjj123 on 10/10/2022 - 14:24

        successful?

    • Slo20 on 01/10/2022 - 10:07
      +1

      You've been banging the same drum complaining about them for the last 16 months Here, Here, Here, Here and Here, yet you are still with them. That says more about you than ING. I'm starting to think you are a disruntled ex employee.

      • Tsapena on 01/10/2022 - 13:51
        -2

        Maybe i just like complaining.
        Or maybe i like warning people.
        Looks like you monitor ING posts, maybe you are an employee….lol
        Truth can be a little painfull, I feel you….

        • Slo20 on 01/10/2022 - 14:33
          +1

          So why you still with them?

    • NegEveryone on 01/10/2022 - 17:16
      +2

      THIS!
      They offer you a low rate, and within 2 months, they jack it up, higher than what is offered on their website.

  • Tsapena on 01/10/2022 - 09:46

    If your prepared to leave them they may reduce, you must try. Do your homework first…

  • NegEveryone on 01/10/2022 - 17:23
    +1

    Be warned.

    I switched over to ING. 3 months ago.
    They've increased it every month (same as everyone else)
    But, my interest rate is now at 4.34% VS the 4.09% advertised on their website.

  • jjj123 on 06/10/2022 - 16:53
    +1

    mine is 4.59 vs 4.39 and 4.29 vs 4.14, what an ING!!!

  • jjj123 on 06/10/2022 - 16:55

    wait, are the rates before 0.25% or after 0.25% rba increase on Tues?

  • jjj123 on 10/10/2022 - 14:39

    Hi James,

    @JamesSimBroker

    on your head office website today 10.10.22, it says your team can do:

    residential home loan rate: 3.49% / 3.52% Comparison (https://ibb.co/qCF1wLv)

    investment property loan rate: 3.74% / 3.77% Comparison (https://ibb.co/chJNf69)

    are these rates before last Tues RBA rate increase and is it fixed or variable rate?

    • AssociatedJamesSimBroker @ Nectar Mortgages on 24/10/2022 - 11:43

      Apology these were old rates.
      If you are still interested, please send me an email and we can look into it for you.
      thanks
      james

  • rdstuffrob on 21/10/2022 - 13:08

    Sorry to be high-jacking this post but I want to back-up the assertions made by other posters here. I am 2 months into my two new home loans with ING and both loans are now 0.25% above the interest rates posted on their websites. I have very low LVR and already a large redraw. I've asked for a formal review, which required me to fill in and sign an ING form. The result of this process was a simple no - there will be no change to the premium applied to my interest rates.
    I have today lodged a formal complaint with ING, which I don't expect to change anything. What will get ING's attention is the next step of going to AFCA, the finance Ombudsman. Very generally speaking Banks do not like this process for numerous reasons but in particular, there are costs involved, which the bank must pay to address/defend against the complaint. This is generally a free process for the consumer. This may be something other affected customers could potentially consider.
    In the end I am absolutely going to leave if I do not gain the resolution I am after. I'm trying to write this post with a level head but I am pretty disappointed I have to go through this process. It's a damn shame it's not just me.

    • AssociatedJamesSimBroker @ Nectar Mortgages on 24/10/2022 - 11:41

      Sorry to hear about this. For our clients, we will assist to deal with the bank we put through and find the resolution. If the solution is not satisfied, we will help to find another bank. All the best.

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