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Jessica Darnbrough
ING DIRECT has attributed its competitive pricing to its low cost model and has guaranteed brokers and borrowers that it will continue to remain competitively priced well into the future.
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Speaking to The Adviser at last week’s Australian Lending Awards' final round of judging, ING DIRECT’s executive director, distribution, Lisa Claes said the lender was committed to providing competitive products and pricing to its brokers and borrowers.
“We aim to be competitive in every area – while price plays a part, it is only one of the key foundations of our competitive proposition,” she said.
“Our pricing is based on a myriad of factors. We must ensure that we are providing our shareholders with a good return. In addition, we must stay competitively priced for our brokers and their borrowers.
“Over the last 12 months, our deposit book has shown phenomenal growth. As such, we are well placed to offer competitively priced mortgages for our customers. We have a low cost model – including no branch distribution. We hope to be competitively priced now and into the future, but the dynamics are always changing, so we never know what tomorrow will bring.”
ING DIRECT has passed on the previous two RBA rate cuts in full to the lender's borrowers.
In addition, the lender was ranked first in The Adviser’s recent Third Party Banking Report: Non-Major lenders, indicating that the company’s competitive position on pricing and policy is paying dividends for the bank.
