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.
“We’ve launched this promotion to get REF back on the radar,” said ING DIRECT’s executive director delivery Lisa Claes.
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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.
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