ING Home Loan Review For Overseas Aussie Expats

ING Home Loan Options

ING offers the following home loan options tailored for expat borrowers.

The ING Mortgage Simplifier home loan provides an all-in-one package with a variable interest rate. It allows unlimited extra repayments and redraws to help manage your mortgage. Online applications make getting pre-approved simple and fast.

This loan option is well-suited for expat borrowers who want flexibility and ease.

ING’s Orange Advantage home loan has ultra low variable interest rates for both owner occupied and investment property loans. It comes with a 100% offset account to help reduce interest and pay your mortgage off sooner. No ongoing annual fees make this a cost-effective option.

Orange Advantage is available to Australian expats living abroad.

ING offers fixed rate home loans that allow expat borrowers to lock in an interest rate for 1 to 5 years. This provides certainty about your repayments over the fixed period. After the fixed term, the loan becomes variable.

Their fixed rate loans allow unlimited additional repayments to pay your mortgage down faster.

ING Bank Australia Review

Here are some key pros and cons of ING home loans for expats.

Pros Cons
Award-winning online banking platform
Early repayment fees apply
Competitive interest rates
Lower loan amounts may have higher rates
Access to redraw and offset
Construction loans not available
Flexible repayment schedule
Limited branch network in Australia

Allow us to find you the perfect home loan.

Apply online to get expert recommendations with real interest rates and repayments.

ING Home Loan Features

ING Bank Australia offers several features on their home loan products.

Feature Details
Online Application
Fully digital application process with an award-winning banking platform.
Foreign Currency Loans
Borrow in foreign currency to avoid exchange rate fluctuations.
Offset Account
Link an ING savings account to offset interest.
Redraw Facility
Access extra repayments when required.
Refinancing Available
Refinance home loans from other banks to ING. Existing ING loans cannot be refinanced into new ING loans.
Expat Friendly
Caters specifically to Aussie expats overseas with online applications, foreign currency loans, and flexible repayment options.

Facts about ING Bank Australia

ING Bank originated in Australia in 1960 as the Savings Bank of New South Wales. It was rebranded to ING in 2002.

ING has over 1.7 million customers in Australia. It has grown to become one of the top banks.

ING allows expats to borrow in 10 foreign currencies including USD, HKD, GBP, NZD, CAD, and more.

ING has loan terms up to 25 years available for expat borrowers giving more repayment flexibility.

How Do I Apply?

Follow these steps to apply for an ING home loan from overseas:

  1. Confirm your eligibility as an expat borrower
  2. Gather required documents for income and ID verification
  3. Complete the online application form
  4. Upload/submit all necessary supporting documents
  5. Get pre-approval and select a property
  6. ING will valuate property and make final approval
  7. Receive and accept formal loan offer
  8. ING will arrange loan settlement
  9. Start making your loan repayments

Who is Eligible?

To qualify for an ING expat home loan you need:

  • Australian citizenship / permanent residency
  • Steady overseas income
  • Good credit history
  • 20% minimum deposit
  • Proof of income and assets

What Documents Do I Require?

As an Australian expat applying for a home loan with ING, you will need to provide certain documents as part of the application process.

Proof of Identity

This includes your valid Australian passport to confirm your citizenship or permanent residency status. If you hold a temporary visa to live abroad, you will need to provide the paperwork detailing your current visa.

Proof of Income

Submitting income statements and other documentation will be necessary to validate your current foreign income earned overseas. This gives ING evidence you have steady income to repay the loan.

Proof of address

Providing bills, bank statements, or other correspondence showing your name and current overseas residential address will be needed as address verification.

Tax documentation

Your most recent tax returns and corresponding bank statements should be provided to demonstrate your overall financial situation and income history to ING.

ING may require additional documents depending on your specific circumstances. Having these documents ready will help make the application process smooth and hassle-free when applying from abroad. Be sure to check with ING directly for any other required paperwork.

Related Products from ING Bank Australia

Investment Home Loan

The ING Investment Home Loan is suitable for expats wanting to purchase a rental or investment property in Australia. These loans allow higher loan-to-value ratios up to 80% and interest-only repayments capabilities.

Having an investment property can provide potential rental income along with capital growth benefits. ING investment home loans are also available in foreign currency options to avoid exchange rate fluctuations for expat borrowers.

Bridging Loan

ING Bank offers bridging loans to Australian expats in the process of buying property in Australia while selling an overseas home. These short-term loans act as temporary financing to cover the gap between settlements.

ING’s bridging loans allow expats to purchase a new Australian property before finalising the sale of their existing overseas home. They typically have a maximum 12-month term and higher interest rates. Having a clear exit strategy is key when applying for a bridging loan through ING.

Need Help With an ING Home Loan?

If you need assistance securing an ING Bank Australia home loan as an Aussie expat, our team of specialist mortgage brokers can guide you. We have extensive experience helping expats purchase property in Australia, from the initial loan application through to settlement and beyond.

We’re here to provide advice and support every step of the way. Contact our expat mortgage specialists today to discuss your home buying plans in Australia.

Other Australian Lender Reviews

Allow us to find you the perfect home loan.

Apply online to get expert recommendations with real interest rates and repayments.

FAQs about ING Home Loans

ING allows up to 80% loan-to-value ratio (LVR) for overseas borrowers, higher than many other lenders.

No, ING does not currently offer construction loans for building a new home.

Yes, ING allows expat borrowers to get pre-approved before having a property selected.

Online applications can get approved in as little as 1 day. Overall it takes 1-2 weeks.

Yes, lenders mortgage insurance applies on loans over 80% LVR.

Yes, ING home loans are available to Australian permanent residents living overseas.

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