ING DIRECT expands mortgage offer to permanent and non-permanent residents

Mortgages now available to newcomers with limited or no credit history

TORONTO, May 25, 2011 /CNW/ - After establishing saving and chequing accounts, a home mortgage often tops the list of financial priorities for newcomers to Canada. ING DIRECT, the country's 6th largest mortgage lender, announced today it is offering its popular unmortgage to permanent and non-permanent residents with limited or no credit history. Permanent and non-permanent residents include those who have been residing in Canada for no longer than 60 months.

"At ING DIRECT, our goal has always been to give the power of saving to all Canadians, so offering our unmortgage to new residents allows us to stay true to that promise," said Peter Aceto, President and CEO of ING DIRECT Canada. "We want to give newcomers access to the same products and savings opportunities we have been providing to Canadians for the last 14 years."

Aceto says that providing a solution for newcomers who want to establish a banking relationship in Canada was behind ING DIRECT's decision to offer the unmortgage to permanent and non-permanent residents who are working to build their credit history. Aceto says, "We have always been committed to making the mortgage experience better for our clients. For newcomers to Canada, our product is simple and easy to understand. We always provide the best rates upfront and guarantee those rates for up to 120 days after applying, and our flexible pre-payment options allow our clients to own their homes sooner by paying as little interest as possible over the life of the mortgage."

ING DIRECT's unmortgage offers:

  • A simple choice between a fixed or variable rate mortgage
  • Highly competitive rates
  • A unique feature called the Rate Hold, that allows applicants to lock in today's rate for up to 120 days
  • Some of the best pre-payment privileges in the market to help people pay off their mortgages faster when they can

About ING DIRECT
ING DIRECT is Canada's leading direct bank with over 1.7 million Clients and more than $37.6 billion in total assets. ING DIRECT gives the power of saving to all Canadians by offering high-value, simple products such as high interest savings accounts with no fees or service charges, and low rates on mortgages. Low cost, index based mutual funds are sold through ING DIRECT Funds Limited. ING DIRECT has been operating in Canada since 1997, and paid more than $4.5 billion in interest to clients. ING DIRECT is open for banking 24 hours a day, 7 days a week, at ingdirect.ca, on mobile devices at m.ingdirect.ca or by calling 1-800 ING DIRECT (1-800-464-3743).

Follow Peter Aceto on Twitter at: Twitter.com/CEO_INGDIRECT
And find ING DIRECT at: Facebook.com/SuperStarSaver; Twitter.com/SuperStarSaver; YouTube.com/SuperStarSaver

SOURCE ING DIRECT

For further information:

Or to schedule an interview, contact: 
Amanda Petriglia,
ING DIRECT
647-259-5797
apetriglia@ingdirect.ca 

Lisa Naccarato,
ING DIRECT
416-758-5072
lnaccarato@ingdirect.ca

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ING DIRECT

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