Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

ING revises commercial lending policies

ing bank branch ta ing bank branch ta
Hannah Dowling 5 minute read

The bank has announced changes to its commercial lending policies, which include a doubling of the minimum loan amount for new borrowings.

ING has announced that it will raise the minimum commercial loan amount for new borrowings from $250,000 to $500,000 as of Monday, 16 September 2019.

The bank also stated that it will increase its commitment fee on new commercial loans under $1 million to $2,000 (previously $1,000), also effective 16 September.

Loans between $1 million to $3 million will require a commitment fee of 0.20 per cent of the loan amount, while commitment fees for borrowings of over $3 million will be determined on application.


Commercial loan applications already in progress with the bank will not be affected by these changes, according to ING.

The announcement comes shortly after recent changes to the bank’s pre-approval process.

Last month, ING revealed that as of Monday, 26 August, applications for pre-approval will not be assessed by a credit manager, and that the bank will only offer full assessment of home loan applications once a property has been identified and a signed contract of sale is provided.

ING said that should applications for pre-approval that meet serviceability requirements and include all identification forms are accepted, it would issue a “conditional pre-approval advice”.

In such cases, ING would not verify income or expenses, and instead produce automated assessment based on the data provided.


According to the bank, the changes come in response to a “high number of applications being received” and a “reduction in the conversion rate of pre-approval applications”.

ING said the changes will allow it to offer an “improved turnaround time for all residential loan applications”.

[Related: ING shakes up pre-approval process]

ING revises commercial lending policies
ing bank branch ta
TheAdviser logo

Are you a new-to-industry broker in the process of growing your business? Then there’s some great news: The Adviser’s New Broker Academy is back in 2021 and will provide you with essential insights into cutting-edge tools, strategies and processes to fast-track to success. Don’t miss your chance to attend. To secure your FREE place, visit newbroker.com.au now!

ing bank branch ta
Hannah Dowling

Hannah Dowling

Hannah Dowling is a journalist for The Adviser and Mortgage Business.

Prior to joining Momentum Media, Hannah worked as a content producer for a podcast catering to property investors. She also spent six years working in the real estate sector at a local agency. 

Email Hannah at: This email address is being protected from spambots. You need JavaScript enabled to view it.



more from the adviser
REA Group logo

Breaking News

Brokerages to integrate as one brand

Mortgage Choice and Smartline will operate under one brand, effe...

handshake news

Breaking News

COG makes acquisition moves

COG Financial Services has grabbed larger stakes in Westlawn and ...

money grants

Breaking News

SocietyOne doubles funding, launches secured loan to public

The personal lender has announced a $200 million warehouse facili...