ING Direct Mortgages...Where's the catch?

boy_3

Thanks for that. Believe the problem lies in them insisting on using call center for all communication. You can't talk to the person who is dealing with you application. They insist on this layer, which makes things slower and very confusing as you have to tell the call center person about the case history every time you call. And, I had to pinch them everytime to move to the next step. I say, only good rates, but horrible processing.

nwmark

AndyC111 wrote:

Slightly off topic I know but for anyone that is looking at the ING 2 year fixed you might also want to consider the current HSBC offer. They are doing 5 years fixed at 5.17% with no fee (due to there january sale) and free legal and valuation fees if you are remortgaging. The rate is a bit higher but you save on the fee.

Ive seen this andy and compared it to the Yorkshire 5 year fixed deal which is 5.09% at the moment but you pay the set up fee of £595, so taking the HSBC deal for me over the 5 years saves me £120 compared to the YBS deal even though the HSBC rate is higher.

Mark

mhay_3

superstar,

the legal and val fees will be seperate from the arrangement fee. there is a table on their website in regards to the val fee, and legals will be arranged with your own solicitor. they are only 'free' if you currently have a mortage and are changing to them.

They do not give too many details regarding the deal itself (i.e - higher lending charges applicable etc) which does make me a bit wary. i would definately query this and check over the kfi in detail before proceeding

Doh

mhay wrote:

superstar,

the legal and val fees will be seperate from the arrangement fee. there is a table on their website in regards to the val fee, and legals will be arranged with your own solicitor. they are only 'free' if you currently have a mortage and are changing to them.

They do not give too many details regarding the deal itself (i.e - higher lending charges applicable etc) which does make me a bit wary. i would definately query this and check over the kfi in detail before proceeding

stupid question but do u have to pay legal fees if your remortgaging? or just FTB?

mhay_3

it doesnt look like you do with this particular mortgage. they do state that they will cover these if you use their own inhouse legal team

Lackagh

I have taken a fixed rate remortgage with ING Direct. Commenced on 09/01/2007 and I complete on 30/01/2007. I found the process completely efficient and the phone when I had to use it had a wait time of about 10 minutes - not bad as it was around 1900 on a Monday!

The only comment I would have is their online application form does not cater for everyone.

AMO

elDeeJay wrote:

Thanks. Im just suspicious as to why ING work out about £100 pcm cheaper than the highly-ranked A&L on MoneySupermarket, yet ING aren't even mentioned in their top fixed rate products when they are significantly better than most, if not all, of their suggestions.

Is there a reason why?

When you go to ING, you go direct. It's hard to say with ING at the moment, as I believe they've not been doing mortgages all that long. However, in my experience, I find that Money Supermarket and ThisIsMoney sites are not always the best places to go for mortgages.

You'd think that they were and because personal IFA's are probably more driven by the commissions they receive, getting a mortgage from what appears to be a neutral source like a newspaper or their online website may give the best rates.

However, I find that if you apply online at these sites, you tend to pay higher arrangement fees.

In essense, I think that your IFA can usually offer a better deal than the internet becuase sites like MoneySupermarket appear to be milking it. I don't know whether its because they simply refer to another party and so there's a double commission to be paid out or what, but the deals are okay, but not brilliant.

AMO

cheveleyaprkpaul

I applied for the 2-year fixed rate on Jan 18th, and have a completion date of Feb 6th. So far - so good. :beer: The mortgage deal is better than any L&C could find at the time. The only downside is that you have to pay the fee up front. However this is not too big a problem... if you want to add it to the loan just ask for 500 more than you need.

Can't fault their service so far - the website keeps you up to date with the progress of the application. Only downside is that I found it impossible to contact them via the call centre. But their legal team called me when required anyway - so it wasn't a problem.

cheveleyaprkpaul

Kuztardd wrote:

ive just looked on their website and cant see these deals, have they now gone?

Yes they withdrew their fixed rate deal and have not replaced it yet.

DoshSaver

Also read previous comments here:
http://forums.moneysavingexpert.com/showthread.html?t=364350