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ING Home Loans
Verified2
2.0
145 reviews
PositivevsNegative
21% · 31105 · 72%
Loan TypeFixed Rate, Variable Rate, Line of Credit and Split
Loan used for
- First Home
- Second Home
- Investment Property
- Renovation
- Refinancing
Loan Term24.8 years
Transparency
1.9
Customer Service
1.9
Application Process
2.4
Timeliness
2.3
Online Tools
2.5
Reviews
Darren Carruthers melbourne 6 posts
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Zero customer service with ING!
55 minutes Ive been waiting on the phone now on the 133464 number!! What happened to customer service???? ABSOLUTELY DISGUSTING. DONT WE PAY ENOUGH TO THE GREEDY BANKS???? HOW THE HELL DO HUMAN customers get to talk to an actual human being in, what used to be know as a bank?? Show detailsTransparencyCustomer ServiceApplication ProcessTimelinessOnline Tools
Terre Greater Melbourne (Inner), VIC 2 posts
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Can I give minus stars??
Whole process woeful, ended up with another bank. First issue is that they weren't upfront with the documents required and just listed them as a condition on the approval letter, a week before settlement. The request was completely unachievable in the time we had left. Approval took 2 weeks and we kept having to go back and forth because they would ask for one document, then another document and another etc. I suspect this is purely due to incompetence and the lack of customer care. DO NOT engage directly, get a broker. Customer service a... Read moreppalling, you have to wait on the phone for agest to speak to someone (but most of the time customer service just takes a message, because nobody is ever available to speak to) and waste hours by constantly following them up.
Crabby Y. Greater Melbourne (Inner), VIC 2 posts
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Avoid - Once you've joined, they show their true face
We have been with ING home loan for 8 months and it's been a nightmare. They aggressively passed down the cash rate increases with no care how it's impact on existing customers. They are now offering new comers 4.99% and we are charged on 5.3% and they claim it's just the way it is - even though no reasonable person would think it's fair. Having had accounts with ING for over 5 years, I have noticed a significant shift of servicing attitude. It use to be good, but not anymore. They are severely short staffed and heading in a direction that I do... Read more not approve of. So I will be leaving for good. Updates: we are now in the process of refinancing away from ING and they have made every effort to make it difficult and costly. The guy we requested the discharge form from (Graham) was extremely hostile and almost took an attitude of 'we get to charge you whatever and there's nothing you can do'. After much negotiation and debate with management, ING eventually agreed to refund our $299 annual fee. We were told their law firm Dentons would be issuing a charges breakdown to us which we never received. Hopefully this will give some perspective to anyone who's considering them, whether directly or through a broker. Don't make the mistake that we made. We trusted them because we were using their daily banking service without much of issues - IT'S NOT THE SAME.TransparencyCustomer ServiceApplication ProcessTimelinessOnline Tools
Tanya G.
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Quick and easy application process
Took 3 days from submitted application to approval. Documentation sent electronic making the whole process easy Show details
Andy J Western Australia 2 posts
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For the love of all things good, stay away!
We've had an ING home loan for around 7 years. There were several delays when first setting up the loan which almost made the purchase fall through. Then they let us know that they had "forgot" to add some of the fees to the loan amount and we needed to provide an additional $3000ish immediately. When we complained about this we were told "Well, it's money you would have to pay back anyway lalala". ING always pass on interest rate rises in full and immediately, but interest decreases partially, sometimes and... eventually when they feel like it... Read more. Every time I have ever had to call customer service I've been informed that they are "experiencing higher than usual call volumes" and I've been forced to wait at least an hour to get through. The average wait time seems to around an hour and a half, some times 2 hours. Now when it's finally become financially viable to switch banks, we have been set and ready to go with all the paperwork done, and as far as anyone let us know everything was ready. ING at the last minutes decided the payout figure (which they provided) was incorrect and pushed back settlement for another week. This of course means we need to pay them more interest. I called to complain and was told that it wasn't their fault, not their problem and I (as an ING customer) would have to contact their solicitor to have the date moved back forward. We are moving all of our banking away from ING and would not deal with them again. I recommend to not even consider them for any backing!
ONYA Adelaide 43 posts
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Horrible Poor Service
We missed 1 months home loan repayment because we pay extra payments fortnightly. ING state they tried to call us to tell us we weren't ahead and that we were now behind. ING calls are from a private number and I don't answer calls with no caller ID due to fraudulent activity and scams. We had over 20k sitting in an offset account they could have used if that desperate, or sent us an email to call them, but NO they filed us as bad debtors, so now we have a poor credit rating that they can't reverse. Absolute disgraceful service, avoid this institution at all costs!! Show details
Ian. Perth, WA
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Love new customers, no love for existing
I have banked with ING for over 15 years and still a customer today. Great App, easy to deal with on phone. Very happy.I refinanced my non-ING Home Loan to ING in 2016 (a simple variable loan with redraw available) I received a great rate, fantastic incentives and I did the application myself, online. I found the process very easy.
Initially, ING’s variable loan rate only moved with RBA rates. After a while, interest rate reductions where less than RBA and we started getting minor increases out of RBA cycles. I also noticed on the ING website ... Read morenew customers were getting significantly better interest rates than myself. I rang up on a couple of occasions and managed to get minor rate reductions, but never as good as new customer rate. ING ‘couldn't match’ their own new costumer rate, (which also included a $3k refinancing incentive) so in January 2022 I started the process of refinancing with another bank. Today, my mortgages are with another bank, currently getting a better rate ING is offering new customers, saving me significantly in interest costs. Hopefully the new bank doesn’t play the same games.
RST Sydney, NSW 3 posts
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Indefinite waiting time
I applied for ING loan through my broker, even after 6-8 weeks haven’t heard from them, terrible service , I then moved to a different bank where all the process has been completed within a month, never recommend ING to anyone Show details
mamaluchka47 Sydney, NSW 45 posts
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Wasted one hour on the phone!
Rang them early in the morning to avoid long waiting times. My inquiry had to do with a bridging type of loan. Being a pensioner who owns my own home outright, I am looking at downsizing, like so many of my peers! I was told by my superfund that we could ask for help from our banks to afford the cost of making the transition from our present home to the new one, such as securing deposits on a property off the plan (as in my case).After 25 minutes wait on the phone, I finally spoke to an ING employee. I gave her all the (quite personal) detai... Read more
ls and was transferred to a "loan expert". Same scenario. She again wanted all the very personal details. After a long conversation, when she asked me whether I was employed, which I answered in the negative (I am 74 years of age) details which they obviously have, she answered that they would not give loans to people who are not employed! I told her she should have asked me that question at the start, which she agreed to. Not impressed, ING!
Hung South East Queensland, QLD 3 posts
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Great rates but absolutely appalling customer services
The home loan documents are very confusing. 1 week prior to my settlement date I was told that I need to sign another mortgage document. The trouble to print the document, get leave from work to go to a JP, and then mail it, wait for it to reach Dentons lawyer is ridiculous. I did the process more than 1 week ago and now ING is asking for another copy of the same thing, with no mention that I need to sign 2. Only now my mortgage broker let me know I have to do it all again. Whole process is confusing and tedious, I am lucky that I asked fo... Read morer a 45 days settlement, if I signed a contract on a 30 days settlement, I would not have gotten the money for settlement and essentially lost my 100k deposit. The amount of stress this brings on is not worth that slightly cheaper rates, I would not recommend this bank to others. Now I have to take time off work to fix the issue yet again. Don't bother saving that 0.05% interest rate, go with a proper bank. Their phone lines are also rubbish in that they make you wait 50 minutes before someone pick up.Application Process
Amber T. Greater Melbourne (Inner), VIC 3 posts
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Conflicted and slightly disappointed
I love ING as an everyday bank, but I feel quite conflicted right now due to their inability to match home loan interest rates. I am looking at home loans and have done my research regarding interest rates and what other banks offer. I am wanting an investment variable loan with an offset account (my mum will be occupying the property and will not be paying rent, so naturally I'm looking for the best deal). There are a couple of other banks that offer lower rates: 0.46% lower than ING. That equates to just under 20k difference over a 30 year pe... Read moreriod. Meaning, I will potentially pay 20K more to ING over that period than a competitor. I have spoken to 4 different home loan specialists, all of who were lovely, and have all stated the same thing: We don't match or negotiate rates. As mentioned, I love ING as an everyday bank, but they don't match interest rates and I am sad about this as I will likely need to change banks.Customer Service
Dsc R. Sydney Surrounds, NSW
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Never go for ING Home Loans
Hidden charges start from annual account management fees, loan processing fee, and the list is never ending. If you are getting financial advise from loan mortgage brokers like we did, there will a page at the end of your application where the brokers try to establish that he/she has given you three options/loan products and why ING is the suitable one for you. Better interest rate and Customer service are the reasons - crap! The only reason mortgage brokers recommend ING is that ING gives higher incentives for brokers (nearly $4000 on off paym... Read moreent in our case and regular monthly payment for trapping a victim for their loan product. Never ever trust ING Bank or your Home loan broker until they reveal how much they are paid by the bank before signing the papers. Mostly the brokers would try to distract you (customers) from the last page where their profit is mentioned. Remember: there is no free lunch in the financial sector. If your mortgage broker is working for FREE(?), ask yourself what you are getting, We highly recommend dealing with any legit banks like NAB, Westpac, ANZ or CommBank directly, rather than mortgage broker rats + ING mob.TimelinessOnline Tools
Pete
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Home Loan experts?
Would give 0 stars but no option. Applied over the phone, got straight through to the person who determines your eligibility for a loan. All good so far, get transferred to home loam expert, get told the current wait time is 20 mins. 50 mins later still on hold have things to do places to be so hang up. Ring back later in the day. On hold for anther 50 mins, person who answers tells me "sorry all our home loan experts have gone home for the day.Apply online... Easy enough. Get told a home loan expert will be in touch within 2 business da... Read moreys. Next day late afternoon about to leave work to pick up the kids, and they call. I ask him if he could call me back in 40 mins, but he tells me he's about to knock off for the day. He gives me a number he says goes directly to their home loan experts. Call later that afternoon, get straight through, (hooray). The guy pretty much reviews all of my online application before saying he'll transfer me through to the home loan experts, wait time currently 50mins. NO THANKS. Not sure they realise people have lives to live and we can't be waiting around during office / work hours for them. Employ more people after hours. ING... putting the ING in F**KING FRUSTRATING.
Ash 2 posts
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Great Internet and App
Have used ING on many occasions, yes it is primarily internet based so you dont get any advice, as you get from a Broker, but ING have great platforms and Apps. Would have no problem in using them again. Show detailsTimeliness
Allan
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Shambolic Process
We approached ING through a mortgage broker. Being a director of a successful firm, we were treated as self employed and asked to provide a nauseating amount of financial details, despite having a lot of equity and applying for a small mortgage. Each step of the way was greeted with yet more bureaucracy and additional financial information. We eventually had a conditional offer subject only to providing a signed contract of sale. We sent this back to ING only to be required to provide another fifteen pieces of information including account... Read moreants letters, business statements etc. Tired of the nonsense, we applied quickly to another bank and had an unconditional offer within eight days. ING need to be better organised, quicker in responding, providing a list of requirements at the beginning, rather than new detailed info each step would be a huge step forward Advise steering way clear of INGTransparency
Questions & Answers
Ashish
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Bought home loan from ING and the interest rate keeps on rising. When I asked the reason they said we don't even need to inform you the reason. Had long email conversations with them stating that this is illegal what you doing. ACCC calls it bait marketing. You cannot offer different interest rate for same product to different customers. It is unfair. I think ING customers need to get together and look for Class action against ING for such behaviour.
Canadaustra
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Yes, we should!
JeffK
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It's a variable rate. They are required to give you advance notice of any change to the rate, but it's perfectly legal for them to do so without giving a reason. It's also perfectly legal for you to refinance.
Weiwei
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I have recently signed up with ING for my home loan and am confused. Every fortnight, a "repayment amount" gets deducted from there everyday account and "credited" into the home loan account. Is this the principal payment only?
And then does interest get deducted again at the end of the month?
thanks
YLe
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if you signed up for principle and interest repayment then your repayment should include both principle and interest in every transaction.
kerrie
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How long does it take for approval?
SpankyMK
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I think ours was only a few days, it then took about another week to get the paperwork completed and signed with money transferred.
Windiwoo
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From memory it took about less than a week. My property was appraised so if you don't need that done it would be quicker. I arranged mine through Mortgage Choice and it was really very simple and not time consuming from my end.
Pieeater
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For me there was a problem with their valuation of the property I was buying. The valuation was below the purchase price, which was not an issue for me, what was an issue was that no-one had bothered ... Read more
to tell me until I chased things up. If you go with ING and really I wouldn't if I was you then be prepared to keep on them to keep things moving. Have a look at some of the other reviews on here regarding interest rates, they are slow to decrease when the RBA drops and quick to increase them once they have you signed up.Details
| Category | Home Loans |
|---|---|
| Business Type | Bank |
Contact info for ING Home Loans
- ABN: 24000893292
Extra Information
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In a 23 pages website with a few 100 pages of pdfs to read through, there is just 1 line in the checklist that says the mortgage document has to be printed and signed in duplicate and returned. There... Read more
is no other hint or reminder to do it in 2 copies. And the worst part is they use Dentons lawyer where there are no JP in the office, so again, tomorrow I have to take time off work, go drive to a JP, sign the documents, and then drive to Dentons lawyer office to hand in the documents because Australia post now take 5 business days to deliver mail. This is crazy and unacceptable, the communication is lacking. With a loan amount of 670000 on the line, the few hundred dollars you may save from going with ING is not worth the stress, the time taken off work, and the time you will be left on the line holding your phone like an idiot