Headquartered in Amsterdam, ING (which stands for Internationale Nederlanden Group) is one of the 20 largest financial services companies in the world. ING employs over 115,000 people in more than 65 countries worldwide and has worldwide banking and insurance assets exceeding $1 Trillion (CDN).
What is the ING Direct UnMortgage?
ING Direct also has some of the most flexible prepayment options available in the mortgage industry. For instance, every year you can make lump sum payments up to 25% of your original mortgage amount, at any time. You can also increase your regular payments up to 25% every year.
ING offers monthly, semi-monthly, weekly, bi-weekly, accelerated weekly and accelerated bi-weekly payment options which gives you the option to pay down your “UnMortgage” faster.
Currently ING direct also has one of the most competitive Variable Rate mortgages available. Not only is the rate great but one benefit of a Variable with ING Direct is that they calculate their interest semi-annually instead of monthly like most other variable rates. What this means for the consumer is you are effectively paying less interest and in a rising rate environment you will keep your lower variable rate for longer.
You also have the option converting at no cost to a fixed term equal to or greater than three years or more (regardless of the remaining term on the original mortgage), to their fully discounted rates. ING Doesn’t play the posted rate game so you know if you’re locking in you’ll always be getting their best rates.
Using a mortgage broker can even save you more
Looking for a fixed rate? Our broker status with ING Direct allows us additional rate discretion with ING and we can help save you even more.
For more information on the ING Direct UnMortgage don’t hesitate to contact me.