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ING slashes fixed interest rates for investors
ING has adjusted its fixed interest rates, raising rates for owner occupiers while cutting rates for investors.
Fixed rates for 1, 2, 3 and 5 year investment mortgages were cut by as much as 36 basis points, while fixed rates for 1, 2, 4 and 5 year owner occupier mortgages increased by as much as 17 basis points.
ING investor fixed rates – new and existing
| Product | Old interest rate | Old comparison rate | Change | New interest rate | New comparison rate |
|---|---|---|---|---|---|
| 1 year fixed rate | 4.32% | 5.56% | -0.03% | 4.29% | 5.69% |
| 2 year fixed rate | 4.37% | 5.45% | -0.18% | 4.19% | 5.53% |
| 3 year fixed rate | 4.55% | 5.39% | -0.36% | 4.19% | 5.40% |
| 4 year fixed rate | 4.69% | 5.35% | No change | 4.69% | 5.45% |
| 5 year fixed rate | 4.90% | 5.37% | -0.21% | 4.69% | 5.37% |
Owner occupier fixed rates – new and existing
| Product | Old interest rate | Old comparison rate | Change | New interest rate | New comparison rate |
|---|---|---|---|---|---|
| 1 year fixed rate | 3.68% | 4.72% | +0.17% | 3.85% | 4.73% |
| 2 year fixed rate | 3.82% | 4.64% | +0.03% | 3.85% | 4.65% |
| 3 year fixed rate | 3.93% | 4.59% | No change | 3.39% | 4.59% |
| 4 year fixed rate | 4.02% | 4.56% | +0.17% | 4.19% | 4.62% |
| 5 year fixed rate | 4.08% | 4.53% | +0.11% | 4.19% | 4.57% |
Owner occupier fixed rates where customer holds an Orange Advantage – new and existing
| Product | Old interest rate | Old comparison rate | Change | New interest rate | New comparison rate |
|---|---|---|---|---|---|
| 1 year fixed rate | 3.58% | 4.71% | +0.17% | 3.75% | 4.72% |
| 2 year fixed rate | 3.72% | 4.63% | +0.03% | 3.75% | 4.63% |
| 3 year fixed rate | 3.83% | 4.57% | No change | 3.83% | 4.57% |
| 4 year fixed rate | 3.92% | 4.52% | +0.17% | 4.09% | 4.58% |
| 5 year fixed rate | 3.98% | 4.49% | +0.11% | 4.09% | 4.53% |
The new rates are effective as of 31 October 2018.
ING previously increased interest rates for its variable investment home loans in September 2018, following similar rate hikes from other major banks. This increase to ING’s reference rates affected the comparison rates for its fixed rate investment loans.
Disclaimer
This article is over two years old, last updated on November 2, 2018. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.
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