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ISCOVER
Staff Reporter
In a bid to improve its competitive position within the industry, ING DIRECT will waive the reduced equity fee (REF) on loans with an LVR of up to 85 per cent.
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“We’ve launched this promotion to get REF back on the radar,” said ING DIRECT’s executive director delivery Lisa Claes.
REF is available on purchases for loans up to $800,000, subject to REF criteria being met, removing the need for LMI.
“REF is a compelling proposition for home buyers and investors, allowing brokers and mortgage managers to potentially save their customers thousands.”
Ms Claes said while the promotion will only be available for a limited time, the lender will provide its brokers and mortgage managers with at least a fortnight’s notice of the expiry date.
