We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Ing Mortgage - 'bargain' Or 'beware'?
Options
tightasafish
Posts: 38 Forumite
Can anyone tell me why everyone does not go for an ING mortgage, with an APR of 5.2%, and no fees? Although I note that the only guarantee they give is that their rate will not exceed BOE Base + 0.9% (ie 6.15%). Have I just answered my own question, ie are ING cunningly sweeping up the whole of the market with the intention of hiking up their rate once they have achieved world domination?
Many thanks in anticipation,
tightasafish
Many thanks in anticipation,
tightasafish
0
Comments
-
That's what I'm wondering too. (APR is 5.3% just to be picky though...) I'm in the process of remortgaging with them as I coudn't bear paying huge arrangement and booking fees that so many lenders have. I'm sure that ING will raise their rate at some point but they surely will have to remain competitive otherwise people will just go elsewhere...
ING never appear in best buy tables for mortgages...no fees for brokers??0 -
Ive just completed with ING on a 2 year fix at 4.95% (£495 fee) but with free legal and valuation and have nothing but good things to say about this company. Exellent customer services and remortgage team made the whole process painless.
I heard their rates are very competitive so they can gain some market share but when theyve gained it,if they decide to raise rates you can move without any penaltys
Cheers.......0 -
I dont think ING do business through brokers but that said, I dont work on APRs so the above doesnt mean a great deal.
I am sure if you take details of the ING product to a broker they will be able to tell you where that sits against what they can access.
For example - there is a cracking 5 year fixed at 5.99 at the mo - no arrangement, val or legals for remortgages (no free legals for purchase) and no tie ins. So compared to the above 2 year deal, you are saving 495 and having security of a longer fixed rate should interest rates not work in your favour. If they do then jump ship whenever you want.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Who in the world is doing 5 year fixed with no tie ins? That seems like a daft product from the lender's point of view?0
-
ING seem to be fairly unproven as a mortgage lender, they haven't been around long enough to assess.
Yes the headline rate is good no one can argue with that, and the lack of arrangement fee too.
However, anyone that has (or did have an ING savings account) will have received a recent letter confirming the lack of increase in their savings rate 'because our customers want consistency'.
So why would their mortgage department be any less devious???0 -
Looks like a nice product to me. I'm seriously considering changing to this so I'm interested in opinions - as long as there not along the lines of 'go and see a mortgage broker'
0 -
I've recently remortgaged with their 2 year fixed rate and had considered their flexible rate. With no arrangement, valuation, legal fees or exit fee and a rate that is very competitive and give many fixed/discounted deals with huge arrangement fees a run for their money, the flexible rate is very appealing. It would appear that there is nothing to lose but a couple of hours of one's time for remortgagers.0
-
I can't make up my mind between this and my current lender Nationwide's loyalty fee free 5.44 fix for five years. Anyone any views either way ? Thanks.0
-
I suppose it depends if you think we are at / near a top in the Interest Rate cycle or if you feel there is more to come.I can't make up my mind between this and my current lender Nationwide's loyalty fee free 5.44 fix for five years. Anyone any views either way ? Thanks.
cloud_dogPersonal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
For example - there is a cracking 5 year fixed at 5.99 at the mo - no arrangement, val or legals for remortgages (no free legals for purchase) and no tie ins. So compared to the above 2 year deal, you are saving 495 and having security of a longer fixed rate should interest rates not work in your favour. If they do then jump ship whenever you want.
Really? Who is offering that deal?Nice to save.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.1K Mortgages, Homes & Bills
- 177K Life & Family
- 257.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards