Lender drops rates in competitive start to 2014

by 21 Jan 2014
A non-major has reduced its variable interest rates in a sign 2014 will be another competitive year in the mortgage space.

ING DIRECT announced it has reduced its LVR based interest rates for Orange Advantage and SmartPack Mortgage Simplifier, for new applications, offering rates as low as 4.83% p.a.

“We want a strong start to 2014 and to set the tone for another great year by offering competitive rates, teamed with market leading customer advocacy,” said Mark Woolnough, Head of Third Party Distribution at ING DIRECT.

On Friday, ING DIRECT was once again recognised as the most recommended bank in Australia by retaining a number one NPS (Net Promoter Score) against competitors. This is a measure of how likely a customer is to recommend ING DIRECT to their friends and family.

“This is one of our most important success measures and we’re excited about making it a real proof point for our broker partners in 2014,” said Woolnough.