ING stays ahead of competition with investor home loan cuts

By Katherine O'Chee · · 2 min read
Fact Checked
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Woman celebrating investors home loan cuts in front of laptop screen

ING has blown competitors out of the water after announcing massive rate cuts across its investment home loans today. 

The ING Mortgage Simplifier for investors taking out a principal and interest (P&I) loan of over $150,000, fell by 50 basis points (bp) from 3.19% (3.22% comparison rate*) to a stellar 2.69% (2.72% comparison rate*). 

This rate change means it’s jumped in rankings to be the second lowest basic variable rate offer in the Mozo database among investment loans (excluding those with offset accounts) - tied with People’s Choice Credit Union’s Basic Variable Home Loan and 10 bp behind Credit Union SA’s Discounted Home Loan Special Offer.

Or if we also factor in home loans with offset accounts, this is where the ING Mortgage Simplifier now sits: 

Top variable rates for investors (incl. offset account offers)

Rate as of 23 October 2020 (for LVRs up to 80%)LenderHome loan
2.54% (2.55% comparison rate*)
homeloans.com.auLow Rate Home Loan (includes offset account)
2.59% (2.61% comparison rate*)
Credit Union SA
Discounted Home Loan Special Offer
2.59% (2.62% comparison rate*)
Homestar
Star Classic Investment Variable Home Loan
2.59% (2.63% comparison rate*)
Easy Street
Standard Variable Home Loan - New Money Offer (includes offset account)
2.59% (2.64% comparison rate*)
HomestarVariable Rate Loan (includes offset account)
2.64% (2.98% comparison rate*)ResimacPrime Flex (includes offset account)
2.69% (2.70% comparison rate*)
People's Choice Credit Union
Basic Variable Home Loan
2.69% (2.72% comparison rate*)
ING
Mortgage Simplifier

ING slashed another 50 bp off its Orange Advantage (Package), reducing its variable rate from 3.24% (3.57% comparison rate*) to 2.74% (3.08% comparison rate*) for investors making P&I repayments on loan amounts over $150,000. 

The ING Orange Advantage is now 102 bp below the average variable investment loan rate of 3.76%, while the gap between the ING Mortgage Simplifier and the average is an even wider 107 bp. 

To put these numbers into perspective, for an investor making P&I repayments on a $400,000 loan over 25 years, you can lower your monthly repayments by $216 or $226 just by going with the ING Orange Advantage or ING Mortgage Simplifier respectively, instead of the average.

Short term fixed rates also slashed

ING also brought down the axe on its Fixed Rate Loan, making 45 bp rate cuts to its two-year and three-year terms. Both rates have now dropped to 2.49% (4.38% and 4.20% comparison rates*). 

While ING still hasn’t made it to the top five for investor fixed rates, the cuts today place it much closer to the lead.

For comparison, the current short-term fixed rate leader is Police Credit Union with two-year and three-year fixed rates from 2.19% (4.06% and 3.89% comparison rates*). The ING Fixed Rate Loan sits 30 bp above that. 

Compared to investor fixed rate averages, ING is now far ahead. It’s 35 bp below the two-year term average of 2.84% and 37 bp below the three-year average of 2.86%. 

Interested in weighing up ING’s offers against other investment loans in the market? Take a peek at some deals below, or hop on over to our investment home loans comparison table to compare even more options.

Compare investment home loans - last updated 27 April 2024

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    Unloan Variable

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  • Back to Basics Special

    LVR<60%, Investment, Principal & Interest

    interest rate
    comparison rate
    Initial monthly repayment
    6.43% p.a. variable
    6.44% p.a.

    Competitive variable for investors with no monthly account keeping or ongoing annual fees. Unlimited additional repayments & option to redraw additional repayments as cashback.

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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

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