Our database lists [# of products] ING variable home loan rate products. They offer the [Product] starting at #.##% with $### for a # year product.
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ING variable home loan rates
Mortgage Simplifier
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| ING | 2 year Offset Tracker at BEBR + 1.22% for 2 years Residential Purchase Offset | 2 years | 5.97% | 6.9 APRC | £1749.00 | 75% |
| ING | Residential Remortgage Tracker at BEBR + 0.60% | 5 years | 5.35% | 6.4 APRC | £999.00 | 60% |
| ING | Residential Remortgage Tracker at BEBR + 1.00% | 5 years | 5.75% | 6.6 APRC | £999.00 | 85% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 2 years | 4.89% | 6.6 APRC | £999.00 | 60% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.24% | 6.6 APRC | £0.00 | 60% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.11% | 6.7 APRC | £999.00 | 75% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.25% | 6.6 APRC | £0.00 | 75% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.61% | 6.7 APRC | £99.00 | 80% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.21% | 6.7 APRC | £999.00 | 90% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.95% | 6.8 APRC | £0.00 | 90% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 5 years | 5.35% | 6.3 APRC | £999.00 | 60% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 5 years | 5.75% | 6.5 APRC | £999.00 | 85% |
| ING | Existing Residential Mortgage Customers Reward Offset Tracker | 2 years | 5.97% | 6.9 APRC | £1749.00 | 80% |
| ING | Existing Residential Mortgage Customers Reward Offset Tracker | 5 years | 6.00% | 6.7 APRC | £1749.00 | 80% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.10% | 6.6 APRC | £1999.00 | 70% |
| ING | Existing Residential Mortgage Customers Reward Offset Tracker | 2 years | 6.65% | 7.0 APRC | £1999.00 | 70% |
| ING | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 5.69% | 8.8 APRC | £1795.00 | 65% |
| ING | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 5.77% | 8.9 APRC | £1795.00 | 75% |
| ING | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 6.30% | 8.9 APRC | £0.00 | 75% |
| ING | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 5.90% | 8.8 APRC | £1795.00 | 60% |
Orange Advantage
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| ING | 2 year Offset Tracker at BEBR + 1.22% for 2 years Residential Purchase Offset | 2 years | 5.97% | 6.9 APRC | £1749.00 | 75% |
| ING | Residential Remortgage Tracker at BEBR + 0.60% | 5 years | 5.35% | 6.4 APRC | £999.00 | 60% |
| ING | Residential Remortgage Tracker at BEBR + 1.00% | 5 years | 5.75% | 6.6 APRC | £999.00 | 85% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 2 years | 4.89% | 6.6 APRC | £999.00 | 60% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.24% | 6.6 APRC | £0.00 | 60% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.11% | 6.7 APRC | £999.00 | 75% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.25% | 6.6 APRC | £0.00 | 75% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.61% | 6.7 APRC | £99.00 | 80% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.21% | 6.7 APRC | £999.00 | 90% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.95% | 6.8 APRC | £0.00 | 90% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 5 years | 5.35% | 6.3 APRC | £999.00 | 60% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 5 years | 5.75% | 6.5 APRC | £999.00 | 85% |
| ING | Existing Residential Mortgage Customers Reward Offset Tracker | 2 years | 5.97% | 6.9 APRC | £1749.00 | 80% |
| ING | Existing Residential Mortgage Customers Reward Offset Tracker | 5 years | 6.00% | 6.7 APRC | £1749.00 | 80% |
| ING | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.10% | 6.6 APRC | £1999.00 | 70% |
| ING | Existing Residential Mortgage Customers Reward Offset Tracker | 2 years | 6.65% | 7.0 APRC | £1999.00 | 70% |
| ING | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 5.69% | 8.8 APRC | £1795.00 | 65% |
| ING | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 5.77% | 8.9 APRC | £1795.00 | 75% |
| ING | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 6.30% | 8.9 APRC | £0.00 | 75% |
| ING | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 5.90% | 8.8 APRC | £1795.00 | 60% |
ING variable home loan rate FAQs
Is ING increasing interest rates?
ING will likely adjust its interest rates following Reserve Bank of Australia’s decision, as seen with the RBA’s 7 November 2023 cash rate increase. The RBA did this to curb inflation, leading ING to raise all variable home loan rates by 0.25% per annum.
7 November 2023 cash rate hike
- RBA action: increased cash rate to control inflation
- ING response: ING variable home loan rate raised by 0.25%
- effective date: changes effective from 14 November 2023
Future rate increases
Rate changes in the future will depend on the RBA's decisions and economic conditions. Some experts predict that rates will remain stable until mid-2025. ING will likely follow RBA trends for its variable home loan rates, adjusting accordingly.
Is ING good for home loans?
Despite rate changes and potential future adjustments, ING may maintain its competitiveness. ING’s strong performance in 2023, along with features like flexible repayment options and online planning tools, make it a solid choice for home loans.
What is a variable interest rate?
A variable interest rate, or floating rate, fluctuates with the official cash rate set by the RBA. When the cash rate changes, your mortgage repayments can increase or decrease accordingly.
Benefits of a variable rate
Variable rates offer several advantages:
- lower initial rates: often lower than fixed rates, leading to smaller monthly repayments
- potential savings: extra repayments go directly towards the principal, helping you pay off your loan faster
- flexibility: ability to make unlimited additional repayments without penalty
These benefits can provide financial flexibility and potential long-term savings.
Fixed vs variable: which should you choose?
Choosing between fixed and variable rates depends on your financial situation and market conditions:
- fixed rate: offers stability with set repayments, protecting against rate rises
- variable rate: fluctuates with the market, potentially lowering your costs when rates fall but increasing when they rise
ING variable home loan rate
The ING variable rate offers competitive features for borrowers:
- unlimited additional repayments: pay off your loan faster without extra fees
- redraw facility: access extra repayments if needed
- no ongoing fees: enjoy no monthly or annual account-keeping fees
The ING variable home loan rate is only available for new property and borrowings with ING, making them an attractive option for many borrowers.
What is an ING comparison rate?
An ING comparison rate reflects the true cost of a home loan by including the advertised interest rate and associated fees. It helps borrowers understand the total expense of their mortgage.
What costs are included in the comparison rate?
The comparison rate covers various one-off and monthly fees over the loan term, including:
- valuation fees
- application fees
- loan establishment fees
- legal fees
- monthly account-keeping fees
- and more
These fees vary by lender, impacting the overall cost of the loan.
Why is the comparison rate important?
The comparison rate prevents borrowers from being misled by low advertised interest rates. It ensures a better understanding of the total cost of the loan. By considering the comparison rate, borrowers can:
- make informed decisions: compare loans effectively by looking at all associated costs
- avoid hidden fees: identify loans with high hidden fees despite low interest rates
- plan finances better: choose loans that fit their budget and financial situation
A high comparison rate may indicate higher fees and charges, warranting a closer look before committing.
How useful are comparison rates to brokers
Comparison rates help brokers and lenders by detailing a home loan's actual cost, aiding in evaluating and recommending the best loan options for clients. While they provide clarity on total loan commitments, they are based on standard scenarios that may not reflect all borrower circumstances.
- comprehensive view: includes interest rates and associated fees
- accurate comparisons: helps brokers compare different loan products effectively
- informed recommendations: ensures clients understand their total financial commitments
These rates are instrumental in helping brokers guide clients towards the most suitable loan options.
ING's comparison rate
These rates account for all known costs, such as up-front and ongoing fees, but exclude government charges and redraw fees.
- example: based on a $150,000 loan over 25 years
- purpose: helps compare the cost of different home loans with similar features
You can also compare interest rates and fees across all of their savings accounts, everyday banking, business banking, home loans, and superannuation.
The ING variable home loan rate is subject to change, so it’s always a good idea to check the latest rates on this page.
How do repayments for variable interest rate mortgages work?
Repayments for variable interest rate mortgages involve paying a portion of your principal and the interest due each month. The amount depends on your loan's principal, the loan term, and the current market interest rate. With an ING variable home loan rate, your repayments may vary as interest rates change.
Repayments for ING variable rate
Repaying an ING variable home loan rate allows flexibility in managing interest rate changes. If rates fall, you could repay your loan faster by maintaining higher payments. However, if rates rise, your repayments may increase accordingly.
Key points
- benefit from falling rates by keeping repayments steady
- increased repayments if interest rates rise
- potential to pay off your loan faster
ING variable home loan rate calculator
Using the ING variable home loan rate calculator can help you understand your repayment commitments. This mortgage repayments calculator helps you see potential interest savings by adjusting the loan term and amount.
Other ING calculators
ING offers various other home loan calculators to assist with your financial planning:
- borrowing power calculator: estimates how much you can borrow based on income and expenses.
- offset calculator: shows potential time and interest savings with an offset account.
- extra repayments calculator: calculates savings from additional payments.
Additional online calculators on ING’s website support diverse home loan needs. These resources aid in making informed choices and efficiently managing your mortgage.
