ING Direct pass on full rate cut from August

ING Direct will lower the interest rate on its variable mortgages by 0.25 percentage points, effective Friday 23 August 2013.

The RBA cash rate is one element considered however, the bank’s funding position was the driver of the decision, said the lender.

ING Direct's most popular variable home loan - the Mortgage Simplifier - will be 5.22% p.a. 

It has a mortgage book of $38 billion - making it the fifth biggest mortgage lender in Australia after the major banks.
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Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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