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.
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.
James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.
He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.
He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.
James holds a BA (Hons) in English Literature and an MA in Journalism.
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