Secure Funding
MyRate is a multi award winning industry leading direct non-bank lender. Our loans are funded by ING Bank (Australia) Limited, part of one of the largest financial groups in the world, so not only do you get one of the lowest interest rates in Australia but additional peace of mind in a turbulent global financial market.
Our funding is secure and stable for these reasons:
- Our funder ING Bank (Australia) Limited has a stable and secure Standard & Poor's rating for both long and short term funding.
- MyRate does NOT fund through capital markets using securitisation.
- MyRate does NOT operate in the sub-prime market. We are a prime lender.
- Our business model is to combine secure funding and take advantage of our really low overheads to always be significantly cheaper than the banks.
Borrower hardship process
Our funder, ING Bank (Australia) Limited, currently works with customers who are experiencing temporary financial difficulty under the principles as set down under the UCCC and Code of Banking Practice. MyRate home loan customers are encouraged to make contact with us as soon as possible if they feel they are likely to experience financial hardship. We will work with customers on a case-by-case basis to put in place arrangements to assist them where they have experienced temporary financial pressures as a result of unemployment or other reasonable causes.
Next steps
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