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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