ING DIRECT cuts rate by 0.25%

ING DIRECT will lower the interest rate on its variable mortgages by 0.25%, effective Friday 17 May 2013.

The RBA cash rate is one element considered however, the bank’s funding position was the driver of the decision.

Its most popular home loan the Mortgage Simplifier will be 5.47% p.a.

ING DIRECT is the fifth largest home lender in the country with $38 billion in mortgages.

Source: ING DIRECT

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