ING Direct cuts fixed mortgage rate

ING Direct has slashed the interest rate on three year fixed rate home loans by 14 basis points to 7.30 per cent. ING Direct’s executive director of mortgages Lisa Claes said the rate cut was just one of the many product enhancements the bank was currently making.

“The enhancements we have been making at ING Direct seem to be having a positive influence on competition, and ultimately, it is having a positive effect on what is available to Australian home loan customers.” In the last few months, ING Direct has launched a cash incentive switching campaign, offered a new tier on its Orange Advantage loan and upped max LVR to 95 per cent.

Source: The Advisor