Case Studies

Sharon was a first Home buyer and a loyal customer of ING DIRECT's. She was looking to purchase her first home with the deposit she had saved in her Savings Maximiser account over the last few years. Sharon found her experience with ING DIRECT's savings account to be simple and straight forward so when it came to looking for a mortgage she wanted the same ease and convenience.

As this was Sharon's first loan she wanted a loan that was simple to understand but also had a lot of flexibility. Sharon was expecting a bonus from work within the next 6 months and wanted to be able to put this into the mortgage to reduce her interest repayments.

The Mortgage Simplifier product had all the features to cater for her needs due to the low interest rate and the ability to make unlimited repayments at no extra cost. She also really liked the ability to withdraw any of her extra money if she wanted to go on a holiday.

As a first home buyer, ING DIRECT was also able to assist with the processing of her first home buyers grant so that the funds were available on the day of settlement. Once she filled in the forms, her Mortgage Specialist was able to complete the processing of the application whilst keeping Sharon informed of the progress along the way. Sharon; being a professional was very busy and found the convenience of dealing with a Mortgage Specialist directly over the phone and via email was easy as she didn't have time to meet up with someone in person and could do it with minimal interruption to her busy schedule.

Sharon's loan only took 3 weeks to process from application to settlement which meant a hassle free mortgage in very short time allowing her to move into her new home sooner.

Sharon's story

"I had a Savings Maximiser and was pretty impressed with it. I knew they had home loans and had a chat with them. The Mortgage Simplifier was just as simple to understand as the Savings Maximiser.

Lynda took me through every step of the process, which made it really easy. I felt confident about what they were presenting to me and understood everything they needed to complete. I didn't really need to do anything. I was happy with the loan, the service and the process."

Advice concerning the Savings Maximiser does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you Before making any decision in relation to the Savings Maximiser you should read the Terms and Conditions booklet, available at ingdirect.com.au or by calling 133 464, and consider whether it and any information in this letter is appropriate for you given your situation. The Savings Maximiser is issued by ING DIRECT, a division of ING Bank (Australia) Limited ABN 24 000 893 292 (AFSL 229823).

Suzana and Andrew were shopping around for a better deal on their mortgage. They wanted to refinance their mortgage in order to save some money. They found that ING DIRECT had more competitive interest rates and a product that better suited their needs. Being an investment loan Suzana wanted to be able to do interest only repayments but still have the flexibility to pay more if they wanted to.

They saw a perfect investment property to add to their portfolio but didn't have the deposit needed to secure it. Their Mortgage Specialist was able to help them utilise the equity they had in their existing property and that meant they were able to purchase the property and didn't have to miss out on the great opportunity.

They opted for a fixed rate loan as they wanted the security of paying the same repayment amount every month using the rental income for most of the monthly repayment. Having a fixed loan met their needs as they wanted security in their investment and know that they could afford the monthly repayments.

Purchasing a new property can be a stressful process but thanks to the fast processing times and being kept in the loop by the Mortgage Specialist, they found the experience quick and relatively painless.

Suzana's story

"When I rang Lynda regarding a loan application, all my husband and I wanted to do was refinance the whole existing mortgage with a credit union. However, when dealing with Lynda she kept me engaged with the information I needed to know.

Due to Lynda's outstanding knowledge of ING DIRECTS' products and services, she not only retained our one mortgage but actually converted me to take out the second mortgage for an investment property we were buying.

Lynda always kept us in the loop, delivered when she said would and advised what else was required before we could proceed. When she wasn't in the office, she handed over to another staff member who would follow through.

She even 'hurried' along the paperwork in order for us to gain pre-approval of a loan so that we didn't miss out on the property we had viewed earlier that week and for which we were applying for the additional loan."

John was unhappy with his home loan as interest rates were increasing and he didn't feel the product that he was on was meeting his needs. He called ING DIRECT to find out if refinancing his home loan to ING DIRECT would benefit him in terms of reduced interest rate and better products. He found that he was able to get both a reduction in interest rates and a better product.

When talking to the mortgage specialist John found that he was able to answer all of his questions and recommended the Mortgage Simplifier to suit his needs. His current home loan product which was split between a variable product and a line of credit was not working for John.

The Mortgage Simplifier had a free redraw facility which enabled John access to his funds whenever he needed them. John arranged to put his salary straight into the Mortgage Simplifier and then was going to use the redraw facility for his monthly expenses. By salary crediting this helps john reduce the interest that he needs to pay on his loan even further.

By refinancing to ING DIRECT, John's interest rate was reduced saving him over $100 a month. The flexibility was also a big advantage for John, instead of two loans he only had to worry about the Mortgage Simplifier product. John was able to obtain an additional $20,000 to consolidate his personal loan and credit card debt into his home loan saving him even more money and only having to worry about one account and one statement.