ING Direct cuts fixed mortgage rates

ING Direct has cut rates on its fixed mortgage products to a new low for the company.

One to three-year fixed rate mortgages will now be offered at a 4.24% rate, while four to five-year fixed rate mortgages have been cut to a 4.49% rate.

In March, the company lowered its variable rates, with a discount available for low loan-to-value ratio customers (under 80%).

This month, ING Direct will also be making a cash payment to some customers to reward Orange Advantage customers.

Its new fixed rates, effective 1 May: