Non-major drops owner occupier rates

By |
ING Direct has reduced its three-year fixed interest rate, it has been announced.

The non-major bank has announced that its three-year fixed rate (including a O.10% p.a discount) for owner occupiers with an Orange Advantage Home Loan has been reduced to 3.98% p.a (comparative rate 4.66% p.a).

The 0.10% discount rate applies to both new customers and existing owner-occupier Orange Advantage customers who apply to switch, split or increase a portion of their existing Orange Advantage home loan to a fixed rate loan.

The new three-year fixed rate for non-Orange Advantage owner-occupier customers is 4.08% p.a. (comparison rate 4.69% p.a.).

“The interest rate cycle is at a relatively low point,” John Arnott, ING executive director customer, told Your Investment Property Magazine's sister publication Australian Broker, “making it a good time for home buyers to fix or partially fix their mortgages."

“We are not expecting the RBA to move the cash rate anytime soon but a partially fixed and variable home loan can deliver both peace of mind and flexibility with repayments,” he added.

In ING Direct’s portfolio, 29% of customers have fixed or partially fixed home loans.

“Fixing or partially fixing home loans is a good way of adding certainty to the level of repayment,” said Arnott. “Customers can have the best of both worlds by partially fixing their home loan and keeping some variable for flexibility.”

Do you have more than $200k in your super fund? You could use your super to buy property - Find out how

Top Suburbs : coburg north , north epping , tuart hill , gladesville , alexandra hills

go back

Get help with your investment property

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here