ING assessment rate..what is it now?

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Robbo
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Joined: Fri Aug 02, 2019 10:07 am

ING assessment rate..what is it now?

Postby Robbo » Fri Aug 02, 2019 10:15 am

Hi, understand they put this up to 8% (when everyone else was at 7.25%)...

Does anyone know if they're now basing off 2.5% over the revert rate (for fixed rates), as they rather childishly refuse to tell me - notwithstanding, many other lenders have gone public with their new assessment and floor rates.

Cheers!

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Otto Dargan
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Re: ING assessment rate..what is it now?

Postby Otto Dargan » Sun Aug 04, 2019 6:21 pm

Hi Robbo,

Welcome to the forum.

ING is very strict with serviceability, their assessment rate of 8% p.a. is one of the highest and hasn’t changed as of now. It is likely to remain the same. As you’ve rightly pointed out, they are still basing their assessment off 2.5% over the revert rate for fixed-rate home loans or 8% - whichever is higher.

Yes, a few other lenders have gone public with their new assessment rate and floor rates. Some as low as 5.30% p.a.

We can work out which lender will allow you to borrow the amount that you need.
Please call us on 1300 889 743 or complete our enquiry form and one of our mortgage brokers will assess your situation in full.
Otto Dargan
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