Quick Summary
Founded
1743 in the Netherlands, 1999 in Australia
Owned by:
Stock market listed (Euronext)
Funded by:
Retail deposits and wholesale capital markets
Lender type:
Banks, International Bank, Online Bank
ING Commercial's success with mortgage brokers and aggressive pricing enabled them to gain significant market share for commercial property loans up to $2 million.
They have sharp pricing, simple products, easy to understand policy and a good relationship with mortgage brokers Australia wide.
Technically, they do offer larger loans as well, but they tend to be less competitive than the major banks for these larger loans. They also don't offer business loans and other products like overdrafts that high net worth borrowers often need.
How does ING Commercial compare?
Pros
- Financing commercial property investment
- Refinancing commercial property loans
- Great interest rates on loans up to $2 million
- No annual reviews for most loans
- Loan terms of up to 20 years
- Borrow up to 75% of the property value
- No fixed and floating charge over your company required
- Their lease doc loan options means you don't need tax returns or other financials
- Factories, warehouses, retail shops, office suites, blocks of flats and childcare centres accepted
- Upfront commercial property valuations available
- Working with mortgage brokers
- Working with their customers online or over the phone
Cons
- Strict credit assessment
- Loans must be secured by residential or commercial property
- Property development loans unavailable
- low doc commercial property loans unavailable
- They're unlikely to accept a bad credit history
- You can't work with a business banker face to face
They're picking and choosing their market…
The major banks want business loans, commercial loans, overdrafts, merchant facilities and property developers. Not ING commercial!
They’re just interested in people who are buying standard commercial properties as an investment or as their business premises (owner occupied).
So don’t even bother to submit an application that isn’t what they’re looking for. It’s better to go to a lender that wants that type of business.
How does ING Commercial compare?
Will your bank tell you if there is a better offer available? Our Commercial Loan Experts can help!
Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.
ING Commercial Client Story
Steve, QLD
Goal
To buy his first commercial property for his property portfolio..
Situation
Background
Earning a strong income working in the engineering industry, Steve was in a position to build a substantial property portfolio and had been investing in residential real estate in hotspots across the country for the past couple of years.
Looking for higher yields, Steve took the leap and decided that he wanted to invest in an inner city office building. Crunching the numbers and comparing similar properties in the area, he found one that was tipped to deliver a strong rental return.
With equity in his home and some of his own cash to put towards the purchase, Steve needed a standard commercial property loan and didn't want to be taken for a ride on the interest rate.
Solution
ING Commercial is very competitive when it comes to interest rates on standard commercial properties like offices, warehouses and factories.
Steve was even able to qualify for a further negotiated discount because he was earning a great income in a stable profession and borrowing at around around 70% of the property value (LVR).
Along with his cash deposit, the bank was happy to take the equity in Anthony's residential property as security (he was borrowing at less than 80% LVR) and so he was able to buy his first commercial investment property.
Find out if you are qualified to apply with this lender
GET A FREE ASSESSMENTQuick tip when applying with this lender
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Use ING’s Loan application – Introducer to prepare for your commercial loan application.
Note:This is the latest commercial loan checklist as at December 2020. Please refer to ING Commercial for their most up-to-date document requirements.