ING is an online Australian bank owned by the multinational ING Group. ING offers various fixed and variable home loans online, as well as banking, insurance and superannuation products. Check out the full table of ING products below or read more about the lender and its loans.
Compare ING home loan rates for January 2024
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ING's home loan rates are lower than the market average. ING offers fixed and variable rate loans for investors and owner-occupiers, and some loans come with offset accounts.
ING is an online lender. The bank has phone, email and banking app support.
You can get certain ING loans with a deposit as low as 5%, including some of its lowest rates.
In addition to home loans, ING also offers savings accounts, transaction accounts and term deposits.
Most ING mortgages allow you to split your loan into fixed and variable portions.
How do I apply for an ING home loan?
When applying for any home loan, you will need various documents to establish your identity, your financial situation, employment status and details about the property.
Eligibility
Each ING product has specific eligibility criteria but some will apply to all products. For example:
Age. You must be over 18 years of age.
Residency. You should be a resident of Australia.
Employment. You should have a regular source of income.
Documents required
When you apply for a mortgage with ING you are required to provide certain information so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:
📄 Property details. You can start a loan enquiry before you've bought a property. But to complete an application you need the address of the property and a signed contract of sale.
📄 Identification documents. You will need identification such as a driver's licence, passport or birth certificate.
📄 Proof of income documents. Recent payslips can establish your income.
📄 Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).
If you want to compare loans from similar lenders to ING then you can start with these online lenders. They all have competitive rates and may be a better match for your needs:
Athena. This digital fintech lender offers low-rate mortgages and an entirely online, convenient service.
Tic:Toc. This lender's online application tool can process your mortgage application fast. Backed by the Bendigo and Adelaide Bank.
Homestar. A 100% online lender, Homestar has been providing mortgages to Australian borrowers since 2004.
Loans.com.au. A Brisbane-based online lender, Loans.com.au is backed by Firstmac, Australia's largest non-bank lender.
ME Bank. Member's Equity was established back in 1994 and went fully digital in 2012.
Mortgage brokers. Still confused? Get free, expert guidance from a qualified mortgage broker.
More home loan questions
To make sure you find the right ING loan, you need a clear idea of what you're looking for in a mortgage. These simple questions can help:
Are you comfortable applying online? Because ING is an online lender you need to be comfortable completing the entire home loan process via the web (with phone and chat support).
Fixed or variable? Do you want the flexibility of a variable rate loan that could rise or fall at any time? Or are you happy to lock in a fixed rate for a certain period so you can forget about rate changes at all?
What features do you need? If you want a 100% account with your home loan, make sure the ING loan you're interested in has this feature before you apply.
Home loan pre-approval is an optional step in the application process that some lenders offer. Pre-approval means a lender has examined your savings, income and spending habits and has a rough idea of how much it could lend you. It's not the same as full loan approval and it's no guarantee that the lender will ultimately approve a full application. But it does allow borrowers to start looking for a home with more confidence and a clearer idea of their borrowing power.
Pre-aproval is not something every lender offers, but many do.
Most Australian borrowers bank with one of the Big Four (Commbank, ANZ, Westpac and NAB). You might have some concerns about getting a loan from a smaller lender. But there's no reason to worry about going with a smaller lender.
In Australia, banks and lenders are regulated by the Australian Prudential Regulation Authority (APRA) or the Australian Securities and Investments Commission (ASIC) and must comply with the National Consumer Credit Protection Act.
ING is an authorised deposit-taking institution (ADI). This means customers with money deposited in a ING savings account benefit from the deposit guarantee scheme. This federal government scheme guarantees a customer's savings up to $250,000. Even if the bank itself collapses.
Deciding between a fixed or variable rate depends on what you want from the loan. A variable rate loan can change at any time, either up or down. A variable rate usually offers more flexibility in how fast you can repay the loan and the cost of refinancing.
A fixed rate loan offers total certainty about your rate, for the fixed period. This means it won't rise, costing you more. But if your lender starts lowering rates you won't benefit either. Refinancing a fixed rate loan means breaking the loan, because you've agreed to a specific rate. This means you may have to pay a fixed rate break fee.
Mortgage brokers are home loan professionals who can help you find a suitable loan. A broker typically charges you no fee, because they receive a commission from your lender. Brokers are great if you are short on time or find the whole process of researching and applying for a home loan confusing. But you can definitely do it yourself and find a good loan. You may even find a better deal. That's because brokers don't compare loans from every lender in the market. They have access to a panel of loans and often don't have smaller online lenders in their panel.
Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification.
One of the requirement states resident of Australia, I am currently on my work visa for the next 3 years however this will be renewed by then or have my permanent residency received.
Can I still go ahead with applying for the mortgage ? or any other way for me to seek mortgage ?
ING’s page didn’t explicitly state if they have residency requirements. You can check with them directly by phoning them on 1800 100 258, open from 8 am-8 pm Mon-Fri and 9 am-5 pm Sat (AEST/AEDT).
Thanks for getting in touch with Finder! It’s great to know you’re interested in a home loan with ING. To quickly know the steps on how to apply for an ING mortgage, please go to the part of the page above saying “How do I apply for an ING mortgage?” To get a quote and directly speak with them, click the GREEN GO TO SITE button that can be found inside the table that lists the types of mortgages ING offers on the first part of the page.
As a friendly reminder, carefully review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.
ING can lend up to 95% of the value of the property you wish to buy with some of their loans that you can find on the table above. You can press the “More info” link to be redirected to our review page and learn more about the loan offer, rates, and requirements as well as the pros and cons of using their loan service. When you are ready, simply head to ING’s website to proceed with the application or get in touch with their representatives for further inquiries you may have.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions. Alternatively, you can speak to a mortgage broker who can take your personal circumstance into account and offer you a range of borrowing options.
Please contact ING Direct for an exact quote regarding your break costs.
It is generally calculated using the following formula: The amount of principal remaining x the remaining term of the fixed interest period x the movement in ING Direct’s cost of funds.
I have been with ING for many years, love the savings account. Just wondering whether I would be eligible for a home loan based on the fact that I own a unit in Sydney ( Naremburn ) which is now valued at approx $600,000. I am currently studying and no longer earning an income as such, but have an allocated pension from my super of $763.00 per fortnight.Also receive a very small amount from Centrelink as Austudy. Would love to hear whether I have any options. Kindest Regards, Barbara
ING DIRECT has its own unique lending criteria which are kept under wraps as the case with every other bank and lender. I would suggest contacting ING DIRECT directly to discuss your options with them rather than make an online application online, as this will give you an opportunity to discuss your options in relation to your assets and income considerations. For more tips, you may consult our guide on pensioners home loans.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
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Hi,
One of the requirement states resident of Australia, I am currently on my work visa for the next 3 years however this will be renewed by then or have my permanent residency received.
Can I still go ahead with applying for the mortgage ? or any other way for me to seek mortgage ?
Thank you
Hi Haider,
ING’s page didn’t explicitly state if they have residency requirements. You can check with them directly by phoning them on 1800 100 258, open from 8 am-8 pm Mon-Fri and 9 am-5 pm Sat (AEST/AEDT).
You can also explore other top lenders here.
Kind regards,
Richard
Hi
I would like to talk to someone about refinancing our home loans, how do i go about this?
Hi Suzanne,
Thanks for getting in touch with Finder! It’s great to know you’re interested in a home loan with ING. To quickly know the steps on how to apply for an ING mortgage, please go to the part of the page above saying “How do I apply for an ING mortgage?” To get a quote and directly speak with them, click the GREEN GO TO SITE button that can be found inside the table that lists the types of mortgages ING offers on the first part of the page.
As a friendly reminder, carefully review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.
Hope this helps!
Best,
Nikki
Does Ing have an investment home loan up to 90% LVR??
Hi Jim,
Thanks for reaching out.
ING can lend up to 95% of the value of the property you wish to buy with some of their loans that you can find on the table above. You can press the “More info” link to be redirected to our review page and learn more about the loan offer, rates, and requirements as well as the pros and cons of using their loan service. When you are ready, simply head to ING’s website to proceed with the application or get in touch with their representatives for further inquiries you may have.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions. Alternatively, you can speak to a mortgage broker who can take your personal circumstance into account and offer you a range of borrowing options.
Cheers,
Joanne
I have just renewed my fixed home loan for 2 more years, what is the fee amount for breaking my contract if I sell my house?
Hi Jodi,
Please contact ING Direct for an exact quote regarding your break costs.
It is generally calculated using the following formula: The amount of principal remaining x the remaining term of the fixed interest period x the movement in ING Direct’s cost of funds.
Cheers,
Shirley
I have been with ING for many years, love the savings account. Just wondering whether I would be eligible for a home loan based on the fact that I own a unit in Sydney ( Naremburn ) which is now valued at approx $600,000. I am currently studying and no longer earning an income as such, but have an allocated pension from my super of $763.00 per fortnight.Also receive a very small amount from Centrelink as Austudy. Would love to hear whether I have any options. Kindest Regards, Barbara
Hi Barbara,
Thanks for the question.
ING DIRECT has its own unique lending criteria which are kept under wraps as the case with every other bank and lender. I would suggest contacting ING DIRECT directly to discuss your options with them rather than make an online application online, as this will give you an opportunity to discuss your options in relation to your assets and income considerations. For more tips, you may consult our guide on pensioners home loans.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
I hope this helps,
Marc.