ING Commercial – Connective – broker resources

Updates on Credit Policy

MicroProductTeam — Wed, 04 Nov 2020 06:42:29 +0000

We will be making some changes to our Commercial Credit Policy for applications received from 5 November 2020.

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ING Commercial Update

MicroProductTeam — Fri, 10 Jul 2020 06:42:34 +0000

ING to continue supporting small business customers affected by COVID-19

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Commercial Update

MicroProductTeam — Wed, 08 Apr 2020 07:47:40 +0000

Commercial Variable Interest Rate Reduction for Existing Customers.

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Income Verification

MicroProductTeam — Thu, 20 Feb 2020 05:21:11 +0000

As we have now entered 2020, where an applicant is Self-Employed, a Corporation or a Trust, all applications submitted are to be supported by 2019 and 2018 Income Tax Returns and Financial Statements.

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Pre-Christmas Settlements

MicroProductTeam — Thu, 21 Nov 2019 05:32:38 +0000

Please note with the Christmas break fast approaching, if you have a deal that requires settlement before Christmas, your commercial loan application should be submitted no later than Tuesday, 26 November 2019.

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Updates on ING Commercial Underwriting Guidelines

MicroProductTeam — Tue, 29 Oct 2019 04:38:42 +0000

We will be making changes to our Commercial Underwriting Guidelines. These changes apply to commercial loan applications or variation applications received by ING from 1 November 2019.

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Updates on Commercial Interest Rates

MicroProductTeam — Fri, 18 Oct 2019 03:58:43 +0000

For information on our current interest rates, see our Introducer website.

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ING Commercial Serviceability Calculator

MicroProductTeam — Mon, 07 Oct 2019 09:22:12 +0000

ING regularly reviews the ING Living Expense Benchmark used in establishing the serviceability of an application. This most recent review has resulted in an increase to the Benchmark and therefore a need to update the ING Commercial Serviceability Calculator

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Updates on Minimum Loan Amount and Commitment Fee

MicroProductTeam — Tue, 10 Sep 2019 01:31:10 +0000

ING regularly reviews our fees and charges. Our most recent review has resulted in an increase to the commitment fee for new commercial loan applications, where borrowings are less than $1,000,000. We will also increase the minimum loan amount for new borrowings to $500,000 (previously $250,000).

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Updates on Interest Rates and Credit Policy

MicroProductTeam — Thu, 01 Aug 2019 01:22:31 +0000

Working in a constantly changing environment it can be difficult to remember all of the lender’s policy changes. Here’s a recap of some of our key commercial credit policy changes.

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Updates on Interest Rates

MicroProductTeam — Thu, 18 Jul 2019 06:14:17 +0000

ING regularly reviews interest rates across its product range. Our most recent review has resulted in a decrease to variable interest rates on all existing priority commercial mortgage loan products by 0.25% p.a. effective from 1 August 2019.

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Updates on Banking Code of Practice

MicroProductTeam — Mon, 01 Jul 2019 01:35:55 +0000

As outlined in our Residential Update to you yesterday, the new 2019 Banking Code of Practice (BCOP) comes into effect for applications assessed from 1 July 2019. The BCOP imposes new and improved obligations and requirements on ING and its representatives, which includes you.

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Updates on Interest Rates and MasterClass Registration

MicroProductTeam — Fri, 07 Jun 2019 02:12:45 +0000

The Industry Commercial Masterclass has been designed by industry leaders to provide brokers with a better understanding of the necessary requirements to work in the Commercial & Equipment Finance product space.

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Updates on Interest Rates and Loan Serviceability Calculator

MicroProductTeam — Tue, 21 May 2019 07:54:05 +0000

Please be advised that effective for commercial loan applications received from Wednesday 29 May 2019, the assessed commitment of credit card facilities not held with ING will be assessed at 3.8% of the facility limit per month (currently 3%). Note, the higher of the two, customer declared repayments or ING assessment rate will be used.

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