ING home loan rate changes

ING hiked rates on some high loan-to-value ratio (LVR) home loans, including the Mortgage Simplifier and Orange Advantage variable owner occupier loans by 11 basis points.

These home loan rates now stand at 3.00% p.a. (3.03% p.a. comparison rate*), and 3.05% p.a. (3.39% p.a. comparison rate*), respectively.

This is for borrowers paying principal and interest (P&I) with up to 95% LVR. 

Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
6.04% p.a.
6.06% p.a.
$3,011
Principal & Interest
Variable
$0
$530
90%
4.6 Star Customer Ratings
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Quick and easy online application process.
Disclosure
5.99% p.a.
5.90% p.a.
$2,995
Principal & Interest
Variable
$0
$0
80%
Apply in minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
 Disclosure
6.09% p.a.
6.11% p.a.
$3,027
Principal & Interest
Variable
$0
$250
60%
  • No annual fees – None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
 Disclosure
5.69% p.a.
6.16% p.a.
$2,899
Principal & Interest
Fixed
$0
$530
90%
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Flexibility to split your loan with both fixed and variable rates
 Disclosure
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning

It's important to note that ING also cut rates on a wide variety of products by up to 80 basis points.

However, the most substantial cuts were to fixed investment loans.

For example, the investor loan fixed for 5 years paying P&I was cut by 80 basis points down to 2.64% p.a. (3.93% p.a. comparison rate*).

Adelaide Bank home loan rate changes

Earlier in the week Adelaide Bank also hiked some fixed owner occupier loans by up to 15 basis points.

This affects both the 'SmartFix' and 'SmartSaver' product lines, fixed by between one and three years.

For example, the SmartFix P&I 3 Year rate is now 2.20% p.a. (2.83% p.a. comparison rate*), while the SmartSaver P&I 3 Year rate is also 2.20% p.a. (2.64% p.a. comparison rate*).

Where did the cuts happen?

In the past week, a few lenders did manage to cut a few home loan interest rates.

HSBC cut a few loans by up to 20 basis points, including the Investment 'Home Value' loan paying P&I with 80% LVR down to 2.69% p.a. (2.70% p.a. comparison rate*).

The equivalent 'Home Value' loan for owner occupiers up to 90% LVR was also cut by 10 basis points to 2.54% p.a. (2.55% p.a. comparison rate*).

These are promotional rates and could end at any time.

Community First Credit Union also cut a couple of fixed home loans by 71 basis points.

The 'Honeymoon' owner occupier product fixed for 1 year is now down to 2.44% p.a. (3.78% p.a. comparison rate*) when paying P&I.

The equivalent loan for investors was also cut by 71 basis points, down to 2.74% p.a. (4.08% p.a. comparison rate*).

MOVE Bank also cut some home loan rates by up to 40 basis points.

The 'Complete Package' for owner occupiers fixed for 3 years paying P&I is down to 2.09% p.a. (3.02% p.a. comparison rate*).

The equivalent loan for investors was cut by 30 basis points down to 2.39% p.a. (3.52% p.a. comparison rate*)

Northern Inland Credit Union also introduced a home loan under 2% for investors - sub-2% home loans for investors are rare compared to what's available in the owner occupier space.

Photo by Jukan Tateisi on Unsplash



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