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A non-major bank has announced that it will increase its variable mortgage rates for owner-occupiers and investors.
ING Direct today announced it will increase interest rates by 0.18 per cent across its variable owner-occupier and investor residential loan portfolio, effective 15 January 2016.
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At that date, the variable interest rate on the Orange Advantage offset home loan for residential owner-occupier borrowers will be 5.02 per cent (5.21 per cent comparison rate).
On 25 September the bank increased its variable rates for property investors by 37 basis points.
