{"id":797,"date":"2012-07-03T19:30:08","date_gmt":"2012-07-03T09:30:08","guid":{"rendered":"https:\/\/newsroom.ing.com.au\/?p=797"},"modified":"2016-08-30T14:19:07","modified_gmt":"2016-08-30T04:19:07","slug":"ing-direct-to-launch-lvr-based-pricing","status":"publish","type":"post","link":"https:\/\/newsroom.ing.com.au\/ing-direct-to-launch-lvr-based-pricing\/","title":{"rendered":"ING DIRECT to launch LVR based pricing"},"content":{"rendered":"<p>ING DIRECT will offer LVR based interest rates on its popular Orange Advantage and SmartPack Mortgage Simplifier products to reward customers taking loans with lower LVRs.<\/p>\n<p>As of July 9, customers for new borrowings with LVRs of less than 80% will be eligible for reduced interest rates. Lower LVR customers borrowing $500,000 or more will receive an interest rate of just 5.88% p.a. with an Orange Advantage or SmartPack Mortgage Simplifier.<\/p>\n<p>\u201cWe\u2019re looking to attract additional sub 80% LVR business and this pricing structure will make us more attractive to upgraders and investors. We\u2019ve also taken on feedback and reduced the threshold under Orange Advantage and SmartPack from $300,000 down to $250,000 which will appeal to a wider market.<\/p>\n<p>\u201cWhilst we\u2019ve made various improvements to our service proposition this year, we certainly haven\u2019t overlooked the importance of sharply priced, competitive products, and these changes highlight this.<\/p>\n<p>\u201cAnother positive, based on feedback from our broker partners, is that we\u2019ve aligned Orange Advantage and SmartPack Mortgage Simplifier price points for loan amounts above $250,000 with LVRs below 80%.\u201d said Mark Woolnough, Head of Broker Distribution at ING DIRECT.<\/p>\n<p>ING DIRECT will also continue to waive SmartPack and Fixed Rate application fees, until further notice.<\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify; text-indent: .55pt; margin: 0cm -53.6pt .0001pt 0cm;\"><strong><span style=\"font-family: Arial; color: #002060;\">LVR Based Interest Rates &#8211; from 9 July 2012<\/span><\/strong><\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify; text-indent: .55pt; margin: 0cm -53.6pt .0001pt 0cm;\"><strong><span style=\"font-family: Arial; color: #002060;\">\u00a0<\/span><\/strong><\/p>\n<table class=\"MsoNormalTable\" style=\"border-collapse: collapse; border: none; margin-left: 6.0pt; margin-right: 6.0pt;\" border=\"1\" width=\"466\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr style=\"height: 13.75pt;\">\n<td style=\"width: 293.3pt; border-top: solid windowtext 1.0pt; border-left: solid windowtext 1.0pt; border-bottom: none; border-right: none; background: #FF9900; padding: 0cm 5.4pt 0cm 5.4pt; height: 13.75pt;\" bgcolor=\"#FF9900\" width=\"293\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; line-height: normal;\"><strong><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">ORANGE ADVANTAGE<\/span><\/strong><\/p>\n<\/td>\n<td style=\"width: 87.75pt; border: none; border-top: solid windowtext 1.0pt; background: #FF9900; padding: 0cm 5.4pt 0cm 5.4pt; height: 13.75pt;\" colspan=\"2\" bgcolor=\"#FF9900\" width=\"88\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><strong><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">Interest Rate<\/span><\/strong><\/p>\n<\/td>\n<td style=\"width: 3.0cm; border-top: solid windowtext 1.0pt; border-left: none; border-bottom: none; border-right: solid windowtext 1.0pt; background: #FF9900; padding: 0cm 5.4pt 0cm 5.4pt; height: 13.75pt;\" bgcolor=\"#FF9900\" width=\"85\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><strong><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">Comparison Rate<\/span><\/strong><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 14.15pt;\">\n<td style=\"width: 298.65pt; border: none; border-left: solid windowtext 1.0pt; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" colspan=\"2\" width=\"299\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">Aggregate Borrowings &lt;$250k<\/span><\/p>\n<\/td>\n<td style=\"width: 82.4pt; border: none; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" valign=\"bottom\" width=\"82\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">6.34% p.a.<\/span><\/p>\n<\/td>\n<td style=\"width: 3.0cm; border: none; border-right: solid windowtext 1.0pt; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" valign=\"bottom\" width=\"85\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">6.52% p.a.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 14.15pt;\">\n<td style=\"width: 298.65pt; border: none; border-left: solid windowtext 1.0pt; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" colspan=\"2\" width=\"299\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">Aggregate Borrowings $250k+<\/span><\/p>\n<\/td>\n<td style=\"width: 82.4pt; border: none; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" valign=\"bottom\" width=\"82\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">6.16% p.a.<\/span><\/p>\n<\/td>\n<td style=\"width: 3.0cm; border: none; border-right: solid windowtext 1.0pt; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" valign=\"bottom\" width=\"85\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">6.34% p.a.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 14.15pt;\">\n<td style=\"width: 298.65pt; border: none; border-left: solid windowtext 1.0pt; background: #FFE6CD; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" colspan=\"2\" bgcolor=\"#FFE6CD\" width=\"299\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; line-height: normal;\"><strong><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">LVR BASED INTEREST RATES where LVR is \u2264 80% <\/span><\/strong><sup><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">1.<\/span><\/sup><\/p>\n<\/td>\n<td style=\"width: 82.4pt; border: none; background: #FFE6CD; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" valign=\"bottom\" bgcolor=\"#FFE6CD\" width=\"82\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">\u00a0<\/span><\/p>\n<\/td>\n<td style=\"width: 3.0cm; border: none; border-right: solid windowtext 1.0pt; background: #FFE6CD; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" valign=\"bottom\" bgcolor=\"#FFE6CD\" width=\"85\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 14.15pt;\">\n<td style=\"width: 298.65pt; border: none; border-left: solid windowtext 1.0pt; background: #FFE6CD; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" colspan=\"2\" bgcolor=\"#FFE6CD\" width=\"299\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">\u00a0Aggregate Borrowings $250k to &lt;$500k<\/span><\/p>\n<\/td>\n<td style=\"width: 82.4pt; border: none; background: #FFE6CD; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" bgcolor=\"#FFE6CD\" width=\"82\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">5.98% p.a.<\/span><\/p>\n<\/td>\n<td style=\"width: 3.0cm; border: none; border-right: solid windowtext 1.0pt; background: #FFE6CD; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" valign=\"bottom\" bgcolor=\"#FFE6CD\" width=\"85\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">6.16% p.a.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 14.15pt;\">\n<td style=\"width: 298.65pt; border-top: none; border-left: solid windowtext 1.0pt; border-bottom: solid windowtext 1.0pt; border-right: none; background: #FFE6CD; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" colspan=\"2\" bgcolor=\"#FFE6CD\" width=\"299\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">\u00a0Aggregate Borrowings $500k+<\/span><\/p>\n<\/td>\n<td style=\"width: 82.4pt; border: none; border-bottom: solid windowtext 1.0pt; background: #FFE6CD; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" bgcolor=\"#FFE6CD\" width=\"82\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">5.88% p.a.<\/span><\/p>\n<\/td>\n<td style=\"width: 3.0cm; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; background: #FFE6CD; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" valign=\"bottom\" bgcolor=\"#FFE6CD\" width=\"85\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">6.06% p.a.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 13.55pt;\">\n<td style=\"width: 298.65pt; border: none; border-left: solid windowtext 1.0pt; background: #FF9900; padding: 0cm 5.4pt 0cm 5.4pt; height: 13.55pt;\" colspan=\"2\" bgcolor=\"#FF9900\" width=\"299\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; line-height: normal;\"><strong><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">SMARTPACK MORTGAGE SIMPLIFIER *<\/span><\/strong><\/p>\n<\/td>\n<td style=\"width: 82.4pt; border: none; background: #FF9900; padding: 0cm 5.4pt 0cm 5.4pt; height: 13.55pt;\" bgcolor=\"#FF9900\" width=\"82\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><strong><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">Interest Rate<\/span><\/strong><\/p>\n<\/td>\n<td style=\"width: 3.0cm; border: none; border-right: solid windowtext 1.0pt; background: #FF9900; padding: 0cm 5.4pt 0cm 5.4pt; height: 13.55pt;\" bgcolor=\"#FF9900\" width=\"85\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><strong><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">Comparison Rate<\/span><\/strong><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 14.15pt;\">\n<td style=\"width: 298.65pt; border: none; border-left: solid windowtext 1.0pt; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" colspan=\"2\" width=\"299\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">Aggregate Borrowings $250k+<\/span><\/p>\n<\/td>\n<td style=\"width: 82.4pt; border: none; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" valign=\"bottom\" width=\"82\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">6.16% p.a.<\/span><\/p>\n<\/td>\n<td style=\"width: 3.0cm; border: none; border-right: solid windowtext 1.0pt; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" valign=\"bottom\" width=\"85\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">6.20% p.a.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 14.15pt;\">\n<td style=\"width: 298.65pt; border: none; border-left: solid windowtext 1.0pt; background: #FFE6CD; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" colspan=\"2\" bgcolor=\"#FFE6CD\" width=\"299\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; line-height: normal;\"><strong><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">LVR BASED INTEREST RATES where LVR is \u2264 80%<\/span><\/strong><sup><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\"> 1.<\/span><\/sup><\/p>\n<\/td>\n<td style=\"width: 82.4pt; border: none; background: #FFE6CD; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" valign=\"bottom\" bgcolor=\"#FFE6CD\" width=\"82\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">\u00a0<\/span><\/p>\n<\/td>\n<td style=\"width: 3.0cm; border: none; border-right: solid windowtext 1.0pt; background: #FFE6CD; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" valign=\"bottom\" bgcolor=\"#FFE6CD\" width=\"85\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 14.15pt;\">\n<td style=\"width: 298.65pt; border: none; border-left: solid windowtext 1.0pt; background: #FFE6CD; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" colspan=\"2\" bgcolor=\"#FFE6CD\" width=\"299\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">Aggregate Borrowings $250k to &lt;$500k<\/span><\/p>\n<\/td>\n<td style=\"width: 82.4pt; border: none; background: #FFE6CD; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" bgcolor=\"#FFE6CD\" width=\"82\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">5.98% p.a.<\/span><\/p>\n<\/td>\n<td style=\"width: 3.0cm; border: none; border-right: solid windowtext 1.0pt; background: #FFE6CD; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" bgcolor=\"#FFE6CD\" width=\"85\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">6.02% p.a.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 14.15pt;\">\n<td style=\"width: 298.65pt; border-top: none; border-left: solid windowtext 1.0pt; border-bottom: solid windowtext 1.0pt; border-right: none; background: #FFE6CD; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" colspan=\"2\" bgcolor=\"#FFE6CD\" width=\"299\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">Aggregate Borrowings $500k+<\/span><\/p>\n<\/td>\n<td style=\"width: 82.4pt; border: none; border-bottom: solid windowtext 1.0pt; background: #FFE6CD; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" bgcolor=\"#FFE6CD\" width=\"82\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">5.88% p.a.<\/span><\/p>\n<\/td>\n<td style=\"width: 3.0cm; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; background: #FFE6CD; padding: 0cm 5.4pt 0cm 5.4pt; height: 14.15pt;\" bgcolor=\"#FFE6CD\" width=\"85\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: center; line-height: normal;\"><span style=\"font-family: Arial; font-size: 10.0pt; color: #002060;\">5.92% p.a.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 66.8pt;\">\n<td style=\"width: 466.1pt; border: none; padding: 0cm 5.4pt 0cm 5.4pt; height: 66.8pt;\" colspan=\"4\" width=\"466\">\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: justify; line-height: normal;\"><span style=\"font-family: Arial; font-size: 8.0pt; color: #002060;\">Information is current as at the date of this update and is subject to change. The comparison rates\u00a0are based on a loan amount of $150,000 over a loan term of\u00a025 years. WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in different comparison rates. ING DIRECT is a division of ING Bank (Australia) Limited ABN 24 000 893 292. AFSL and Australian Credit Licence Number 229823. Aggregate borrowing refers to total residential ING DIRECT borrowings, excluding lo-doc loans. * Interest rate discounts under SmartPack available when borrowing $250,000 or more in aggregate. SmartPack fee applies. 1. LVR based interest rates apply to new loans with a new security property only. LVR based interest rates do not apply to applications for fixed rate or construction loans.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: .0001pt; text-align: justify; line-height: normal;\"><span style=\"font-family: Arial; font-size: 8.0pt; color: #002060;\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ING DIRECT will offer LVR based interest rates on its popular Orange Advantage and SmartPack Mortgage Simplifier products to reward customers taking loans with lower LVRs. As of July 9, customers for new borrowings with LVRs of less than 80% will be eligible for reduced interest rates. Lower LVR customers borrowing $500,000 or more will [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8,1],"tags":[],"class_list":["post-797","post","type-post","status-publish","format-standard","hentry","category-everyday-banking","category-general"],"acf":[],"_links":{"self":[{"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/posts\/797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/comments?post=797"}],"version-history":[{"count":4,"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/posts\/797\/revisions"}],"predecessor-version":[{"id":1595,"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/posts\/797\/revisions\/1595"}],"wp:attachment":[{"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/media?parent=797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/categories?post=797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsroom.ing.com.au\/wp-json\/wp\/v2\/tags?post=797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}