Rating based on 1,115 reviews
About ING Direct
With a sleek and simple scroll-down landing page, ING Direct is a surprising pleasure to engage online. With thoughtful layout and tone, the company offers clients a chance to “see how banking could be”.
Playing on the many nuances that it hopes will distinguish it from more traditional lenders, ING Direct has managed to do so with a clear and uncluttered home loan offering process.
One can click straight through to a brass tacks depiction of what the online loan application process entails and what potential costs might be.
A dutch multinational
A Dutch multinational that is further tied into a consortium of European banks, ING Direct nonetheless presents as a wholly at-home presence on the continent. With a long history and massive assets, the company has the ability to tweak offers to Australians with aplomb.
Potential homeowners have long patronised these and the lender’s home loans portfolio is a staple and steady aspect of its business dealings.
A people’s company
Notable among its tabs, Customer Care features dead centre and its offshore roots have deepened its stance as a user-friendly company, no doubt having learned lessons from a diverse population on the European landmass.
What ING Direct can offer you
The home loan offer from ING Direct comes accompanied online with categories of “investor” or “occupier” and also a very handy interactive initial page.
Here one can allocate sums, repayment periods and identify as either looking for an owner-occupied or an investment home. Figures below the input boxes shuffle accordingly and this is a very smart addition to help clarify costs.
A clear deal
Interestingly, ING Direct is one of the only online banks present to Australians that makes it a clear point that a mortgage deposit aids interest repayments.
Repayment rates change significantly when one adjusts the term, and this is demonstrated on the site. Further, it is also shown how figures change based on how much a client can afford to lodge as a deposit.
Home loan costs examples
By way of an example, a prospective homeowner looking for a home to live in, borrowing from ING Direct, bringing a 10% deposit to the request to finance a house that costs up to $500k, will be offered a rate of 4.19% against a comparative rate of 4.21%.
All of this information is 30 seconds in the calculation and a very clever step in the company’s online process others would do well to emulate.
By way of comparison, the same structure in detail but on a fixed interest rate would see a pitch of 3.99% against a comparison of 4.54%. They have a very sleek and intelligent application, which makes the process pleasant and unambiguous from start to finish.
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In a Nutshell
- Fixed-rate home loans
- Online application
- In-store application
ING Direct is a surprising pleasure to engage with online
Any prospective client can ascertain whether they qualify and for how much in a matter of minutes with ING Direct online. You can also enquire about personal loans, car loans, everyday accounts and their full range of products online.
Also, pre-approval is often something consumers want in the bag before house shopping, and this is also on offer within the online process or at the cost of a phone call.
The right kind of tech savvy
The company has put a huge amount of thought and build into its online presence. It must be noted for the sublime ease with which one is welcomed into the whole process of an application.
When even contemplating scouring lenders for a home loan can be an intimidating prospect for many, it’s not hard to see why ING Direct are so well patronised by Australians.
The right information
With just the right amount of information and all of the right information available, it’s no wonder this aspect of the company’s revenue is buoyant.
Well worth a visit by any prospective client, not having the experience of their onsite intelligence when looking for a home loan would be an omission on the part of any future homeowner.
I meet all the requirements but my home loan application was still declined?
It is important that customers understand that meeting our credit requirements doesn’t mean an automatic loan approval. There are so many other factors that we look into before approving your home loan.
If we see that you have more than one credit plan that you are paying for and aren’t too consistent on your payments, we might have to decline your home loan. As much as we want to help our clients, we also don’t want to put them in a situation that will put more financial strain on their budget.
The only time we will approve your home loan application is when we can see that you can afford the credit you are applying for without putting a strain on your budget.
I am having financial difficulties
Should you have financial difficulties that may make it difficult for you to pay your home loan on time, please contact us. Don’t wait for the day of your debit order to inform us as it will already be late to make any changes on your profile.
The customer will be liable for paying interests in the event of this happening and it will have a negative impact on your credit profile.
Eligibility & Requirements
Other Products & Services
- Everyday Banking