ING Serviceability Calculator User Guide

ING Serviceability Calculator

User Guide

Applicant Details and Calculator Generation

Please note the

calculator may not work

on certain Apple MAC

computers.

Ensure the ¡°Enable Content¡± button is clicked if it appears.

Select number of applicants (up to 6 permitted)

Future Postcode ¨C HEM may change depending on the

postcode.

Enter details for applicant 1, followed by applicant 2

and so on.

Select relationship between borrowers

For linked ¡°Couple on application¡± ensure that Number

of Dependents, Future Residential Postcode and Future

Residential Status match between the applicants.

Mismatch in data will result in incorrect living expense

benchmarks being applied.

You can now generate the calculator for full data capture.

Page 1 of 9 | ING IM517 | 02/21 | ING is a business name of ING Bank (Australia) Limited | ABN 24 000 893 292 | AFSL and Australian Credit Licence 229823

Applicant Income

Income view is simplified to capture Base Income (PAYG)

information.

For other income types (Variable ¨C Bonus, Overtime,

Commission, Contract, Casual, Superannuation) select ¡°Yes¡±.

For Variable Income (Bonus, Overtime, Commission) the

Industry must also be selected to ensure the correct income

shading is used.

All other sections will shade per ING policy.

Place all allowances utilised for servicing into the Car

Allowance field. All allowances are assessed at 80% for

servicing.

Page 2 of 9 | ING IM517 | 02/21 | ING is a business name of ING Bank (Australia) Limited | ABN 24 000 893 292 | AFSL and Australian Credit Licence 229823

Investment Property Details, Rental Income & Rental Expenses

For Jointly owned investment properties, the value, rent and expense

amounts should be halved.

NEW - The change to rental income and expense treatment

requires that additional property information is required to

assess serviceability.

NOTE: Split jointly owned properties 50/50

Yield capped rental income. Once input, the calculator

automatically shades 80% of the input figure.

Rental expenses to be used in

Assessment

Assessable expenses will be added automatically to total expenses.

Page 3 of 9 | ING IM517 | 02/21 | ING is a business name of ING Bank (Australia) Limited | ABN 24 000 893 292 | AFSL and Australian Credit Licence 229823

Business / Company Income

Small Business/Company (Self-employed) Incomes

Please refer to your ING representative for current policy.

By default the Business and Company income section is

hidden from view to reduce visual complexity.

Select this option if needing to include business income or

company income or both.

For sole traders, choose Business only.

Page 4 of 9 | ING IM517 | 02/21 | ING is a business name of ING Bank (Australia) Limited | ABN 24 000 893 292 | AFSL and Australian Credit Licence 229823

Deduction / HECS / HELP

This is where HELP/HECS repayments are entered.

Input any HELP payment per payslips.

HECS is calculated based on the total individual taxable income (tax free income is not included).

Page 5 of 9 | ING IM517 | 02/21 | ING is a business name of ING Bank (Australia) Limited | ABN 24 000 893 292 | AFSL and Australian Credit Licence 229823

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