ING has made a number of rate cuts to its Orange Advantage and Mortgage Simplifier products for investors. The new rates only apply to new customers.
The changes include:
- Inv Orange Advantage 150-499k: 15 basis point cut to 2.94% p.a. (3.28% p.a. comparison rate*)
- Inv Mortgage Simplifier 150-499k: 15 basis point cut to 2.89% p.a. (2.91% p.a. comparison rate*)
Both loan types have an 80% loan-to-value ratio (LVR), while the Orange Advantage loan has a 100% offset account.
Gateway Bank cuts investor rates
Gateway Bank recently reduced interest rates on a number of its variable and fixed rate investor home loans.
The customer-owned bank cut rates for borrowers making interest-only (IO) repayments. These changes include:
- Premium Inv Variable 80% 150k+: 43 basis point cut to 2.79% p.a. (3.12% p.a. comparison rate*)
- Inv Low Rate Essentials IO: 43 basis point cut to 2.75% p.a. (2.78% p.a. comparison rate*)
- Premium Inv Fixed 1 Year: 14 basis point cut to 2.95% p.a. (5.02% p.a. comparison rate*)
- Premium Inv Fixed 3 Years: 14 basis point cut to 3.05% p.a. (4.67% p.a. comparison rate*)
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