ING DIRECT slashes rates

ING DIRECT has ramped up its competitive position in the market by cutting the interest rate on a number of its priority commercial mortgage products.

According to a statement by the lender, ING DIRECT will trim up to 50 basis points from its products by reducing its margins.

The new interest rate on its commercial variable rate product is now just 7.83 per cent p.a.

“A strong theme coming from our broker partners is the need to diversify their service and product proposition,” ING DIRECT's head of broker distribution Mark Woolnough said.

“We have a simple priority commercial mortgage product suite available through the broker channel which is already being supported by a segment of our brokers. We’d like this enhancement to really raise the awareness of ING DIRECT as a strong choice for brokers interested in commercial lending."

Written by Staff Reporter

Last Updated: 09 March 2022

Published: 02 June 2011