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Compare mortgages

Compare mortgage types at a glance

Here are the main types of mortgage options so you can compare and see what is best for you. Many people just choose the mortgage with the lowest rate, but it is worth comparing different features and your goals. The higher interest rate might be worth the flexibility of the mortgage.

Honeymoon rate mortgage

These mortgages discount the introductory mortgage rates – after a certain time – usually 6 to 12 months – they revert back to the variable rate mortgage. The best advice with these is to look at the mortgage interest rate after the honeymoon is over.

Basic variable rate mortgage

This mortgage gives you a lower rate than the standard variable rate, but some features are not available – or you may need to pay extra for them.

Find out more about ING DIRECT's Mortgage Simplifier

Standard variable rate mortgage

These mortgages generally have a higher rate than the basic variable rate, but with more features with either lower fees or none at all.

Fixed interest mortgage

You can protect yourself from interest rate rises by fixing repayments and know exactly what your repayments will be. If you need certainty in life a fixed rate mortgage may help you get the best night sleep! These mortgages usually revert to a standard variable rate home loan after the nominated fixed term ends.

Find out more about ING DIRECT's Fixed Rate Home Loans

Line of credit

This is a mortgage where you borrow to a ceiling amount, and you can pay down and draw back up to that ceiling amount.

Find out more about our Smart Home Loan or Action Equity Home Loan.

Mortgage offset

This is a mortgage where deposits in your regular transaction account offset the interest of your mortgage. This home loan is useful if you want to pay your home loan sooner.

Find out more about ING DIRECT's Orange Advantage.

Home Equity

The ING DIRECT Action Equity Home Loan has a competitive interest rate and no monthly fees. Access to your funds can by done through cheque book, telephone or online banking. Repayments are interest only and you can pay for what you use.

Construction

With an ING DIRECT Construction Loan you can pay for the land, and the construction of your owner occupied or investment property. If you're using part or all of your mortgage for construction, the total amount won't come to you up front. Rather the money will be made available through progressive payments that are paid straight to the builder.

Commercial loans

ING DIRECT has 3 separate commercial mortgages for you to choose from, starting from $250,000.

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