Ing Mortgage - 'bargain' Or 'beware'?

fhmman

Victor_Meldrew wrote: »

We're trying to remortgage with ING direct - noticed they have recently put the rate up:mad:

Last week we phoned to ask if it would all go through OK at the start of April. They said everything was fine - no problems. Phoned today to find out they haven't even got a redemption from our old BS! They claim they were asked to pay £25 to get a redemption which they won't pay. Our old BS said that was rubbish and they would fax it immediately when ING requested it. Turns out ING won't do that because it's not the way they do things :mad:

They promised to phone back before 5pm tonight and guess what? They didn't. We are now paying full SV rate and I'm as mad as hell. I will phone them tomorrow and tell them where they can stick their mortgage because if there is one thing that gets me its poor customer service.

And I've now found a 3 year no-fee tracker at 5.15% so its INGs loss.

I just finished my remortgage application on monday so I'm really hoping I dont have the same problems. There is nothing more annoying than chasing things up and one company telling u something and the other something else!!

kingkano

MarkyMarkD wrote: »

I think that most people would disagree. BBR+0.90% (i.e. 6.15% right now) is a pretty poor rate, whereas ING's temporarily cheap rate is very attractive. It's no different to a savings account with a short-term bonus - but where the bonus period isn't even declared up-front.

Exactly.... it doesnt say they have to do it in steps! They could turn around tomorrow and raise the rate to 6.15. It will take you a couple months to remortgage to another bank if they drag their feet. Kerching!

Jeannine

Well, I've just this week completed my remortage to ING and I have no complaints...everything went really smoothly without any problems (and no fees!!!!):j

I would like to ask lee or anyone else who has completed a remortgage to ING about how quickly after your completion date you received your completion pack with the PIN etc.

Thanks!

---lee---

Jeannine wrote: »

I would like to ask lee or anyone else who has completed a remortgage to ING about how quickly after your completion date you received your completion pack with the PIN etc.

Thanks!

You will get a letter a day or two after completion confirming that everything has gone through and your payment amount etc. In my case, I got a cheque for the difference the day after completion and the letter confirming the details a day after that.

I was told that the PIN does not get sent until a week after completion (I'm still waiting for mine and I'm hoping that it will arrive today). Once your mortgage has completed, you can't get into the online area anymore until you have your PIN.

---lee---

EDIT: The letter also confirms your first payment amt which may be different to subsequent payments - i.e. it may cover a longer period than usual and so have more interest.

Jeannine

Thanks Lee - I completed on Monday 2nd April but haven't received anything in the post yet (Thursday 5th!).

niceblokejohn

Am interested in remortgaging and going with ING - our fixed rate mortgage ends at the end of April.

This is the first time I've remortgaged (current mortgage taken on as a first time buyer 2 years ago) - is it as simple as applying online to remortgage with ING before my fixed rate is up, and they sort everything out with my existing mortgage provider, or do I have to wait until the fixed period is up (start of May)?

Any help much appreciated

---lee---

niceblokejohn wrote: »

Am interested in remortgaging and going with ING - our fixed rate mortgage ends at the end of April.

This is the first time I've remortgaged (current mortgage taken on as a first time buyer 2 years ago) - is it as simple as applying online to remortgage with ING before my fixed rate is up

Yes. You can specify the date that you want to complete on.
Don't worry, I was a remortgage virgin too and it did not hurt one bit

and they sort everything out with my existing mortgage provider, or do I have to wait until the fixed period is up (start of May)?

You will need to certain of exactly when your fixed rate (and redemption penalty period) ends and specify this with your application. All you need to do is apply online or over the phone, they will sort out the rest.

The online application process is really good - I was very impressed. After you've applied, you can login and view the application progress. Very smart.

---lee---

Jeannine wrote: »

Thanks Lee - I completed on Monday 2nd April but haven't received anything in the post yet (Thursday 5th!).

I completed a week ago today and I'm still waiting :mad: :rolleyes: . I’m sure it will arrive soon. I'm not known for my patience and I'm desperate to see what online facilities you get.

My last provider (Cheshire) were sadly lacking in online facilities so I'm looking forward to being able to view my mortgage balance and getting some overpaying done!

MarkyMarkD

One of my colleagues, coincidentally, was talking about remortgaging to this ING product just today.

His position is that he's actually got his house on the market right now, but doesn't want to pay his previous lender's SVR; they would offer him a free switch to a cheaper product but it would still be 6.00%. Given the no charge thing, he's pretty happy to switch to ING even though it could be for only a few months.

Given those circumstances, he's pretty likely to get a very good deal out of ING and I doubt he can beat it. Equally well, ING aren't going to make any money out of him - rather the opposite.