ING Orange Advantage

And ING join the raise the rates party according to their website...

ING DIRECT will increase all variable home loan interest rates by 0.18% p.a. effective 15 January 2016

 

Thanks, I missed that. So my rate will go to 4.31% . I can live with that!

 

If you can save $, go for it. There's always ways around the "limitations", if they effect you. Personally I'd save money & interest on my PPOR first & foremost.

 

I don't have any non-deductible debt and my ING loans are funding a development that will not have an equity release for a long time if ever. Much further down the track, in the unlikely event I need to equity release and ING won't do it, I can re-fi to another lender. Who wants to second guess lender policies 5+ years from now? Not me. I'll stick with them for this development, set and forget and go with a different lender for my next purchase. I don't like having multiple properties with the same lender anyway. I have never got any advantage in doing that.

 

Plus another 18 points today. Congrats.

 

And another 15 points today.

We're writing to let you know that all residential variable home loan interest rates are going up by 0.15% p.a. on 12 December 2016, and new repayments come into effect in January:

• Interest only repayments – increase starting 1 January 2017.
• Principal and interest repayments – increase starting 30 January 2017 (confirmation will be sent to your mailing address before this date).

One of the early ones to push up variable OO rates?

 

Ouch. I have 2 investment loans with ING and I have not had a problem with them. I am considering fixing for 3 years now though. Especially if their variable rates are going up.

 

It's interesting to visit old threads and see how things turned out.

I have been with ING since 2015 with only investment loans and they are fantastic for what I need them to do: low rates, low fees, 100% offset accounts.

It's interesting that there is no love for ING in this thread for investor loans yet I have found them great for investor loans... set and forget only. These are long term P&I holds, no porting, no equity releases, no extending IO.

To me it is about understanding the product and whether it suits your requirements. For my purposes, Orange Advantage is perfect. It won't be for other investors.

 

@Perthguy issue is that a lot of investors start out set and forget - not needing port, equity release and IO but then things change... There are not to many that could say their plans haven't changed over the last 2-5 years.

 

I agree. ING can be difficult to work with as they have some fairly antiquated processes and for that reason they don't suit a lot of people. Their serviceability its fairly awful, but for many people this isn't a problem.

They do tend to be consistently competitive. Right now they've got a number of products that are at least 0.30% cheaper than most of the Big 4. History will show that they're not always the cheapest, but they are usually fairly close. Most lenders tend to turn it on and off again over time as their appetite changes, so today's cheap rate could be quite terrible in a year or so.

Life most lenders, they're not the solution for everyone, but ING certainly have a niche.

 

True but after 5 years (for example) I don't think it's unreasonable to refinance, so that's always an option.

I guess I am just challenging the assertion made earlier in the thread that ING is a no go for investors. I don't agree having experienced ING products and services as an investor

 

Unfortunately refinancing isn't always an option - especially in the current market.

Agree it's good to see examples of when it does work.