ING staff lose out on mortgage discounts

ING employees will no longer receive a discount when they take out a new mortgage loan with the bank. With this decision the largest bank in the Netherlands joins a growing number of financial institutions that no longer offers this extra benefit to their employees. Yesterday ING announced its plan internally to its employees. From January 1st, 2015, new employees will receive no discount on an ING mortgage. For the current employees a transitional arrangement of one year applies for new mortgages. According to ING, it is their desire to restrict the extent of benefits offered to workers in the financial sector through legislation and fiscal measures. The removal of the mortgage discount fits in that development.