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ING DIRECT to waive REF up to 85% LVR

Published on 15/04/2011

For a limited time, ING DIRECT will waive the Reduced Equity Fee (REF) on loans with an LVR of up to 85 per cent.

“We’ve launched this promotion to get REF back on the radar,” said ING DIRECT’s Executive Director Delivery, Lisa Claes.

REF is available on purchases for loans up to $800,000, subject to REF criteria being met, removing the need for LMI.

“REF is a compelling proposition for home buyers and investors, allowing brokers and mortgage managers to potentially save their customers thousands.”

ING DIRECT will provide its brokers and mortgage managers at least a fortnight’s notice of the promotion expiry.

Media contact:
Caroline Thomas
Ph: 02) 9018 5160

ING DIRECT began operating in Australia in 1999. By doing business online, over the phone and through intermediaries, ING DIRECT keeps it overheads low and passes the savings onto customers in the form of competitive rates. Today, it has grown to become Australia’s fifth largest retail bank, with $22 billion in deposits, more than $37 billion in loans and around 1.4 million customers.

Please note ING DIRECT is never abbreviated to ING.

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