ING lending policy requires brokers to separate retained debt from additional borrowing before estimating commission on an existing customer’s refinance. Credit approval then depends on the borrowers’ income evidence, residency and proposed security. A larger replacement account does not make every dollar newly introduced business.
Commission Eligibility and Trail Base
ING calculates upfront on a net loan balance, so settled funds and the commissionable amount can differ. Its net-balance announcement sets the measurement five calendar days after settlement.
ING’s commission structure announcement replaces loan-to-value ratio (LVR) tiers with flat upfront and life-of-loan trail rates. Apply the schedule covering the loan’s settlement cohort when reconciling payments, including its GST basis and your aggregator’s deductions.
YBR Aggregation’s published ING residential schedule calculates upfront net of offset and trail on the daily outstanding principal less offset. Broker accreditation and continued assignment also affect entitlement. An offset account’s interest benefit alone does not establish the commission calculation.
Record the gross settlement amount alongside the net balance used for commission. That gives you a useful starting point when the payment differs from the amount in the loan offer.
Clawbacks and Internal or External Refinance
An external refinance repays the ING facility, while a retained ING variation requires a separate payment classification. ING’s commission announcement removes property-sale clawbacks for loans aged 12 to 18 months under its revised rules. Other discharge reasons in that period remain subject to partial clawback. Record the discharge reason and applicable schedule with the settlement history.
The older YBR schedule provides for 100% clawback within 12 months and 50% after 12 months but within 18 months. Its unchanged percentages cannot establish eligibility for ING’s later property-sale exemption. It also suspends trail during default over 60 days and lists broker-assignment grounds for cessation.
For an internal refinance, match outgoing and replacement account references before treating a missing payment as lost trail. Keep the payout statement with the variation or new-loan approval. These records show which debt survives and which account closes.
Top-Ups and Loan Portion Changes
A top-up and a rearrangement of fixed or variable portions have different commission consequences. The published YBR residential schedule pays upfront on the amount increased above the original approved limit, with an increase of at least $10,000 required. Trail continues on the outstanding balance for broker-introduced loans. If the original loan came through a non-broker channel, the increase attracts upfront but no trail under that schedule.
An internal refinance earns upfront on the difference between outgoing and new balances. Security substitution alone retains trail without fresh upfront.
ING’s home-loan variation options allows splitting or combining accounts and refixing. A switch that moves existing debt between portions creates no additional borrowing to count as a top-up. Keep the original limit and new approved limit in the commission worksheet.
In a hypothetical file, the client moves $100,000 of existing debt from variable to fixed and separately requests extra funds. Record the $100,000 as a portion change. Show the additional borrowing separately, with the approval and disbursement evidence, before estimating the payment.
Fixed-rate changes can trigger break costs under ING’s loan conditions. Include the lender’s break-cost estimate in the client’s refinance comparison.
Income Evidence and Residency Eligibility
ING’s variation pack requires recent salary evidence for employed applicants and tax evidence for self-employed applicants. For pay-as-you-go (PAYG) income, its list includes a payslip less than one month old and the latest group certificate or tax return. If the payslip lacks the employer’s Australian business number, supply evidence of salary credits.
For a recent employer change, show continuity between jobs. ING’s application checklist requests two years of group certificates or tax returns when the applicant has less than 12 months in the current job. Present the start date and previous employment history with the file. A new payslip alone does not demonstrate that history.
ING’s self-employed verification flyer separates two-year company income, one-year company income and personal tax-return income methods. The one-year company method considers 90% of income, requires two years trading and caps LVR at 80%. Debt consolidation is excluded from that method. Choose the method before collecting documents because ownership and entity structure affect eligibility.
For a sole applicant, ING’s published broker summary requires Australian citizenship or permanent residency and residence in Australia. Its joint-applicant policy permits one applicant to be an Australian citizen or permanent resident where both live in Australia and are married or de facto. Record each applicant’s citizenship or visa status separately. A joint application does not remove the need to assess each person’s circumstances.
Where foreign earnings are needed, identify the currency and employer location in the scenario request. Ask ING to assess that income source alongside the applicant’s residence status before relying on it for the proposed debt. Keep foreign tax-residency declarations separate from evidence of acceptable mortgage income.
Property, Loan Purpose and Documentation
ING’s security assessment depends on the property and proposed borrowing purpose, including any extra funds requested during refinance. Its published broker summary lists apartments with at least 40 square metres of internal area and company title up to 80% LVR. A valuation and title details must establish which property the application actually presents.
| File | Evidence to include | What the evidence establishes |
|---|---|---|
| Owner-occupied purchase | Contract of sale and deposit evidence | Purchase price and source of the borrower’s contribution |
| Investment purchase or refinance | Lease or agent’s rental letter | Rental income claimed in the assessment |
| External refinance | Six months of statements for the outgoing loan | Repayment history and debt being replaced |
| Refinance with extra funds | Existing account statements and an itemised purpose for the increase | Retained debt separated from additional borrowing |
ING’s application checklist identifies the purchase, rental and refinance documents in this table. Its variation form supports requests involving extra borrowing or a security change, subject to credit assessment. Describe unusual title or property features in the request so the valuation addresses them.
Exceptions and File Readiness
An ING exception request must name the specific policy issue and the evidence supporting the requested treatment. ING directs loan scenarios and policy enquiries to its representative. Its sales support team handles application status and escalation.
For example, a recent-employer-change request can state the current role, time in that role and the previous employment history. Attach the payslip and historical earnings evidence, then identify the precise continuity issue requiring a decision. For a joint applicant with foreign income, state whose income the proposal needs and that applicant’s residence status.
Use the ING broker access and support guide for contact routes. The lender-policy directory helps you compare another lender’s assessment when the proposed file needs a different policy fit.
Before estimating trail continuity, put the lender’s credit response beside the loan-account and commission records. An indicative borrowing estimate answers how much the applicant might borrow under its assumptions. ING’s written response addresses the submitted policy issue, and formal approval still depends on the complete application. Record the commission classification separately so a positive credit response does not become an assumed payment entitlement.
