(11 March 2010 – Australia) ING DIRECT has slashed the interest on its three year fixed rate home loan by 14 basis points.The lender’s new fixed rate now sits at 7.30 percent, making it one of the most competitive rates on the market.
In an interview with The Adviser, an online publication, INGDIRECT’s executive director of mortgages Lisa Claes said that he rate cut was just one of the many product enhancements the bank was currently making in order to provide a better suite of products for its broker partners.
“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,” Ms Claes said.
In the last few months, ING Direct has launched a cash incentive switching campaign, offered a new tier on its Orange Advantage home loan and increased its maximum LVR to 95 percent.