ING pass on the full 25 basis points - as funding position improves

Jonathan ChancellorMay 6, 2013

ING Direct will lower the interest rate on its variable mortgages by 0.25%, effective Friday 17 May 2013.

It suggested while the RBA cash rate May decision was "one element" considered, the bank’s funding position was the driver of the decision.

Its Mortgage Simplifier loan will be 5.47% pa.

ING Direct is the fifth largest home lender in the country with $38 billion in mortgages..

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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