The variable rates above include a discount that is applied to the relevant reference rate. These variable and fixed rates are only available for new ING property and borrowings. All rates and information are correct at time of publication and are subject to change.
Comparison rate: The comparison rate is based on a loan amount of $150,000 over a loan term of 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Loan-to-value ratio (LVR): LVR is the ratio of the value of a property to the relevant loan amount, as a percentage. LVR is used by lenders when determining how much you can borrow, and whether lenders mortgage insurance is needed. LVR is calculated by dividing the loan amount by the value of the property. So if you borrow $800,000 for a home valued at $1,000,000, the LVR would be 80%.
Lenders Mortgage Insurance (LMI): LMI is designed to protect the lender (not the borrower) if the borrower can't repay their loan. It's normally required when a loan amount is more than 80 per cent of the property's valuation.
Total borrowings: Includes the total amount borrowed per application.