ING Direct Mortgage Questions

Alt

I am very interested in the ING Direct mortgages as their standard variable rate is only 5.14% which is an with no fees for a re-mortgage.

However, could anyone tell me if this rate is a short term promortional rate which will end in a year or so or if it really is a long-term rate. Also, I cannot find a final/settlement figure for these mortgages, after being bitten by A&L for £295, I am understandably catious:cool:

Alt

I have looked further into their site and the following sentence concerns me:

our rate will be less than 0.9% above the Bank of England Base Rate

could they do a Cahoot and increase their rate overnight from 5.14% to 5.9%

All comments appreciated

HelpWhereIcan

Alt wrote:

I have looked further into their site and the following sentence concerns me:
could they do a Cahoot and increase their rate overnight from 5.14% to 5.9%

All comments appreciated

Yes they could.

However, even if they do 0.9% above BBR will still be a good long term SVR (many are 1.5% or more above) and you will always be able to remortgage away if you find a better deal elsewhere.

Alt

Cheers for the reply.

Is it correct that there is no settlement charge?