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$3,000 Cashback for Refinance, Minimum Loan $500,000 - Package Variable 4.74% (4.76% CR) under 80% LVR (Rates Expired) @ ING

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ING announced extension of ING’s $3000 Home Loan Cashback Offer to 28th February 2023.
Great variable and fixed rates with fast turnaround time.

To be eligible, the below criteria must be met:

  • settles by 31 May 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 4.74% CR at 4.76%
  • Orange Advantage Variable with offset facility under 80% (OO PI) IR at 4.79% CR at 5.09%
  • 2 Fixed 5.39% CR at 5.17% and 3 year fixed 5.49% CR at 5.25% under 80%

Investment P&I with comparison rate (CR)

  • Mortgage Simplifier Variable with redraw facility under 80% (OO PI) IR at 4.99% CR at 5.01%
  • Orange Advantage Variable with offset facility under 80% (OO PI) IR at 5.04% CR at 5.34%

Other refinancing rebates available:

BOQ - Get up to $3,000 cashback when you refinance your home loan. No Expiry. T&Cs apply.
ANZ - Get up to $4,000 cashback when you refinance your home loan
St George / BOM - Get up to $4,000 cashback when you refinance your home loan until 28 February 2023 T&Cs apply
AMP- Get up to $4,000 cashback until 31 March 2023.
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.(wordofmouth.com.au) and RateMyAgent (https://www.ratemyagent.com.au/mortgage-broker/james-sim-hf2…).
Won National Top Broker for customer service award 2022.

Contact me for a no obligation meeting via Calendly(https://calendly.com/james-sim/30min ) 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

Referral Links

Referral: random (623)

Until 30/11/2024, referrer and referee will each receive $100/$125 for opening new Orange Everyday & Saving Maximiser Accounts.

Referrer: Do not participate in the referral system if you do not have a current $100/$125 referral code.

Referee: To qualify, you are required to deposit a minimum $1,000 from an external source into the new Orange Everyday account, deposit any amount into the a Savings Maximiser Account, and make at least 5 (settled) card transactions within any calendar month with the new Orange Everyday card.

Related Stores

ING
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Third-Party

closed Comments

  • +3

    Great advertisement James

  • Do ING offer multiple offset accounts?

    • Generally one per loan split.
      We can explore more for you if interested.
      thanks
      James

  • +11

    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 !

    • Thanks I was wondering about this. Which bank do you recommend which doesn't do this apart from the big 4?

      • I have an investment property with choice lend - its under the NAB.
        Have had no problems and a pretty decent interest rate.
        Well worth a look.
        Im sure theres a few others.
        Unless you personally know a mortgage broker i wouldn't trust them completely.
        Do lots of research…

    • -1

      ING has been fairly steady with their rates. They have a retention team that you can speak when the existing rate is high.

  • +6

    I don't consider $3000 cashback a bargain in the current environment

    • What's the going cashback for lvr <70%?

      • $4k

        • $5k last i heard from another bank

    • -1

      There are some sweeter deal but you would need to assess overall benefits including interest rate saving. We do comparison benefits for our clients.

  • +1

    I'm new to this stuff but if I am getting a home loan for the first time does that mean I can't take advantage of this offer since it is not refinancing?

    • Correct it would be classified as a purchase.

  • Any cash for non refinance applicants? ?AMP

    • I believe no bank gives any Cashback to existing customers
      It’s strange, but true.

      • +1

        NAB actually offered us $4k to stay and offered us a decent rate, just not as good as the rate we are in the process of re-fi to.

        • Well done, take it anytime. Review later again. All the best.

      • Westpac gave my friend 2K to stay. I am thinking whether to move to Westpac.

      • Cashback is to cover cost of refinancing which is generally under $1k in total assuming no existing fixed home loan.

    • One or two banks are offering purchase rebate.

  • Hi James.
    Congratulations on your customer service award for 2022.

    • +2

      Was that a company's own award given to its own employees?

      • It is a franchise business. Thanks for reading up my profile notes.

  • +3

    Be aware it costs around $600 to discharge your loan from ING. Something to consider when you inevitably leave them for a better deal.

  • Two annoying things with ING:

    1. They raise the variable rates for existing customers with no reasons. My rate is 0.3% higher than the rate on their website and they say the website is for new customers only. Apparently you sign something when opening the account that they can raise the variable rate whenever they want.

    2. There is no transactions for repatyments if you use the ING account. You will just see the balance is magically reduced.

    • First point is not unique to ING. All banks do this.

      They aren’t necessarily increasing your rate, they are just increasing the discount to new customers.

  • Would it be 'wrong' of me to take up one of these refinance offers on ozB and just not tell my existing broker who obviously collects 30 bucks a month or whatever from my current lender. Is clients just dropping off because they've found/using another broker just part of the game?

    • broker hopping eh .. i think its a thing

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