Why ING is on most borrowers' shortlists
ING Australia is a digital-first bank, no physical branches, that consistently publishes among the sharpest variable home loan rates on the Australian market for prime owner-occupier borrowers at low LVR. The model is straightforward: lower operating cost without a branch network, which translates into headline pricing that the Big 4 frequently match only at their deepest negotiated tier.
The trade-off is access. ING does not have branches; every application is digital or via an accredited mortgage broker. For borrowers comfortable with that, ING is one of the most consistent rate-leader options on the panel.
Mortgage Simplifier versus Orange Advantage
ING offers two principal variable products. Mortgage Simplifier is a no-annual-fee variable with redraw but without an offset. Orange Advantage is the higher-tier variable product that adds a 100 per cent offset against the linked Orange Everyday transaction account, in exchange for an annual fee.
The maths is mechanical: if the interest saving from running an offset balance is greater than the annual fee, Orange Advantage wins. For most borrowers with a meaningful savings balance, that crossover is at a relatively low offset balance. For borrowers who keep almost no savings buffer, Mortgage Simplifier is the more honest pick.
A common middle path is to take Mortgage Simplifier on settlement and switch to Orange Advantage once your offset balance is consistently large enough to justify the fee.
Eligibility and credit overlay
ING's credit policy is conservative compared to the Big 4 on some dimensions and more flexible on others. Typical guardrails: prime borrowers, clear credit history, owner-occupier P&I is the primary lane, LVR under 80 per cent for the best rate tier (above 80 per cent attracts LMI and a higher rate).
ING applies the APRA 3 per cent serviceability buffer like every authorised lender. Some categories (self-employed with non-standard income, investor with multiple properties, complex employment structure) get assessed more cautiously at ING than at, say, Macquarie or some non-bank lenders.
For straightforward PAYG employed borrowers buying a standard owner-occupier property, ING is frequently the rate-leader at low LVR. For complex files, a broker with a wider panel is the more reliable path.
Investor and refinance positioning
ING writes investor loans, typically at a 25 to 40 basis-point premium over owner-occupier P&I, with the standard interest-only premium on top where the borrower wants IO repayments.
On refinance, ING has periodically offered switching incentives (cashback, rebate of legal costs) when balance-sheet growth is a priority. The exact incentives change with market conditions; the broker can check current settings before the application is lodged.
Product lineup at a glance
Rates we captured from ING’s own pages in the last 60 days are listed first, with their comparison rates and sources. The table after them is the product range; for any product without a captured rate, follow the link to ING’s rate card, because rates change with the cash rate and with each borrower’s credit assessment.
*Comparison rates are calculated on the lender's own example: for home loans usually $150,000 over 25 years, for car and personal loans usually $30,000 over five years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
The honest pros and cons
- Consistently competitive variable rates for prime owner-occupier P&I
- Mortgage Simplifier has no annual fee
- Full digital application via the ING app or mortgage broker
- 100 per cent offset on Orange Advantage when needed
- No physical branch network
- Credit policy can be conservative for complex files (self-employed, investor portfolios)
- Orange Advantage annual fee may not pay off on small offset balances
- Fixed rate products do not include offset functionality
Frequently asked questions
What is the current ING home loan rate?
ING publishes its current variable and fixed home loan rates on its rates page. The rate that applies to a specific borrower depends on LVR, owner-occupier versus investor, and P&I versus interest-only. A broker on the ING panel can quote the tier that fits the file.
Is ING good for first home buyers?
ING was not on Housing Australia's list of 5% Deposit Scheme participating lenders when we checked on 10 October 2026, so a first home buyer who wants to use the scheme needs one of the lenders on that list. ING's digital application and competitive rate make it a common pick for FHBs with clean files. For complex FHB files (gifted deposit, casual income, recent change of employment), a broker with a wider panel is usually the better path.
Does ING offer offset accounts?
Yes, on the Orange Advantage variable home loan product. The offset is 100 per cent and offsets against the linked Orange Everyday transaction account. Mortgage Simplifier does not include offset; it has redraw instead. Fixed rate products do not include offset.
Can I refinance from another lender to ING?
Yes. ING accepts external refinance applications. The credit assessment treats it as a fresh application, with the APRA 3 per cent serviceability buffer applied in full unless the file qualifies for the streamlined like-for-like refinance carve-out under APG 223 (ING participates in this for some borrower profiles).
Does ING have branches?
No. ING Australia operates without physical branches. All applications and ongoing servicing are digital, through the ING app or website. Customer support is by phone and chat.