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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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$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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AssociatedJamesSimBroker @ Nectar Mortgages on 25/01/2023 - 21:40 ing.com.au (234 clicks)
Last edited 27/02/2023 - 09:08 by 2 other users

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

Financial Cashback Home Loan Loan Refinance

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closed Comments

  • Trumpman on 25/01/2023 - 21:56
    +3

    Great advertisement James

  • steven0123 on 25/01/2023 - 22:07

    Do ING offer multiple offset accounts?

    • AssociatedJamesSimBroker @ Nectar Mortgages on 28/01/2023 - 23:59

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

  • Tsapena on 25/01/2023 - 22:25
    +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 !

    • bigbadboogieman on 26/01/2023 - 11:10

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

      • Tsapena on 26/01/2023 - 16:08

        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…

    • AssociatedJamesSimBroker @ Nectar Mortgages on 29/01/2023 - 00:00
      -1

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

  • Royale with cheese on 25/01/2023 - 22:42
    +6

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

    • Kammi on 25/01/2023 - 23:12

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

      • El-Rhi on 26/01/2023 - 06:47

        $4k

        • RichieVn on 05/02/2023 - 14:26

          $5k last i heard from another bank

    • AssociatedJamesSimBroker @ Nectar Mortgages on 29/01/2023 - 00:01
      -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.

  • Kafkaesque on 25/01/2023 - 23:30
    +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?

    • AssociatedJamesSimBroker @ Nectar Mortgages on 29/01/2023 - 00:07

      Correct it would be classified as a purchase.

  • mrtee on 25/01/2023 - 23:42

    Any cash for non refinance applicants? ?AMP

    • amaneight on 26/01/2023 - 01:54

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

      • JR63 on 26/01/2023 - 07:34
        +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.

        • AssociatedJamesSimBroker @ Nectar Mortgages on 29/01/2023 - 00:07

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

      • bigbadboogieman on 26/01/2023 - 11:11

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

      • AssociatedJamesSimBroker @ Nectar Mortgages on 29/01/2023 - 00:03

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

    • AssociatedJamesSimBroker @ Nectar Mortgages on 29/01/2023 - 00:02

      One or two banks are offering purchase rebate.

  • humbledupon on 26/01/2023 - 01:02

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

    • Royale with cheese on 26/01/2023 - 08:04
      +2

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

      • AssociatedJamesSimBroker @ Nectar Mortgages on 29/01/2023 - 00:04

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

  • El-Rhi on 26/01/2023 - 06:50
    +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.

  • ozmau5 on 26/01/2023 - 17:35

    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.

    • El-Rhi on 27/01/2023 - 16:25

      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.

  • Chris12345 on 28/01/2023 - 10:39

    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?

    • RichieVn on 05/02/2023 - 14:29

      broker hopping eh .. i think its a thing

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