ING DIRECT to offer REF up to 95% LVR Following its recent announcement to increase the maximum LVR for LMI deals to 95%, effective immediately ING DIRECT will also extend its unique Reduced Equity Fee (REF) offering to 95% LVR.REF is available on purchases subject to certai... March 11, 2011 Following its recent announcement to increase the maximum LVR for LMI deals to 95%, effective immediately ING DIRECT will also extend its unique Reduced Equity Fee (REF) offering to 95% LVR. REF is available on purchases subject to certain credit criteria being met, removing the need for LMI. REF allows brokers to potentially save their customers thousands of dollars. “Our REF is a key differentiator in the mortgage market. Customers that meet REF criteria do not require LMI, potentially saving them money on mortgage insurance” said Lisa Claes, Executive Director of Mortgages at ING DIRECT. “By extending the availability of REF up to 95% LVR, brokers can offer this product to more of their customers.” Media contact: Caroline Thomas, ING DIRECT Ph: 0413 317 225 Email: caroline.thomas@ingdirect.com.au About ING DIRECT 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.