Letter just sent out to brokers from ING just now.
In my opinion one of the best banks on the market for consistent policy / sla's / banking portal.
Broker email from ING
Were announcing the launch of ING’s $3,000 Home Loan Refinance Cashback promotion for eligible new refinance applications. That’s $3,000 for customers to do their thing, whatever that is.
It is important to note that the promotion is:
- effective for applications received by ING between 1 July 2021 and 30 September 2021.
- only available for the refinance of an existing home loan from another lender which settles by 31 December 2021, and excludes refinances of existing ING loans.
- for any ING home loan products with a minimum loan amount of $500,000, LVR less than or equal to 80%.
- limited to one $3,000 refinance cashback per application irrespective of the number of:
- properties or borrowers included on the application or
- loan accounts that are being opened through the refinance.
- available for applicants who hold an Orange Everyday account in the same name(s) as the new loan. If the applicant does not hold an Orange Everyday account in the same name(s) as the new loan, it must be opened before the cashback is paid (which takes place within 70 days of settlement).
Owner occupied variable P&I
2.49% comp rate 2.52% redraw
2.54% comp rate 2.89% offset
Owner occupied fixed rates P&I
2 years 1.84% comp rate 3.73%
3 years 1.89% comp rate 3.54%
Investment variable P&I
2.64% comp rate 2.67% redraw
2.69% comp rate 3.03% offset
Investment P&I fixed rates
2 years 2.34% comp rate 4.35%
3 years 2.34% comp rate 4.16%
Best way to communicate - Either send me a text email or book an appointment. i generally check voicemails end of day and if there is an influx of calls voicemails get answered last.
Broker Cashback $500 for balances between 250k and 650k net of offset & $1000 cashback for balance over 650k net of offset. Broker rebate paid post settlement normally 2 months post settlement. But bear in mind the ING offer is for 500k balances and above. My deal still applies with other lenders as well.
Types of clients suitable on a plus 3.00% rate? or havent reviewed your mortgage in 18-24 months? We are looking for clients that are seeking a broker relationship that will be reviewing their position every 2 years to make sure its competitive to the market. Not suitable for fully offset clients.
We are also looking for long term relationships with clients, if you intend to refinance again or sell within 12 months, the banks actually claw us back on our upfront commission completely so we would be unable to help in these circumstances. I will do my best to reply to all comments.
My experience 7 years in commsec and cba on a margin lending desk and as in in house cba branch home lender. 4 years as a mortgage broker running my own company.
You can book an appointment straight into my calendar - https://calendly.com/adrianplayermortgagebroker/15min
Adrian Player | Director
Adrian Player is a credit representative (498364) of BLSSA Pty Ltd ACN 117 651 760 (Australian Credit Licence 391237).