Last week's biggest hikes were to the one and five-year fixed investment home loans paying interest-only (IO), while a number of other fixed loans also saw slight increases in their interest rates.

Some ING term deposit interest rates were also slashed last week.

Today, ING balanced the seesaw by cutting variable home loans for owner-occupiers by up to 19 basis points, namely to the Orange Advantage and Mortgage Simplifier product lines paying principal and interest (P&I).

Some key cuts were:

  • Orange Advantage 150-499k 80%: Down to 2.64% p.a. (2.98% p.a. comparison rate*)
  • Orange Advantage 150k+ 95%: Down to 2.94% p.a. (3.28% p.a. comparison rate*)
  • Mortgage Simplifier 150k-499k 80%: Down to 2.59% p.a. (2.62% p.a. comparison rate*)
  • Mortgage Simplifier 150k+ 95%: Down to 2.89% p.a. (2.92% p.a. comparison rate*)

The lowest advertised rate to see a cut was to the Mortgage Simplifier product line lending $1 million or more with a max loan-to-value ratio of 80%, which is now down to 2.55% p.a. (2.58% p.a. comparison rate*).

The main difference between the two ING product lines is that with the Mortgage Simplifier borrowers pay no ongoing fees, while Orange Advantage loans come with a 100% offset facility.

Buying a home or looking to refinance? The table below features home loans with some of the lowest variable interest rates on the market for owner occupiers.

Update resultsUpdate
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
$2,408
Principal & Interest
Variable
$0
$530
90%
Featured 4.6 Star Customer Ratings
  • No monthly or ongoing fees
  • Unlimited free redraw
  • No application fee
5.99% p.a.
5.90% p.a.
$2,396
Principal & Interest
Variable
$0
$0
80%
Featured Apply In Minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
6.14% p.a.
6.16% p.a.
$2,434
Principal & Interest
Variable
$0
$250
60%
Featured Unlimited Redraws
  • No annual fees - None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
  • Redraw freely - Access your additional payments when you need them
  • Home loan specialists available today
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.





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