Best Commonwealth Bank Home Loans

I can't believe how bad the Digi Home loans people and process actually are. My daughter had pre approval for a modest loan (way less than $400k)… Read more

after completing the online application process for a second time and jumping through all the paperwork hoops required by the bank. So we started looking for suitable properties, and after weeks of research and many, many inspections we finally found the perfect property for her. She started the process by putting in an offer with the agent and informing the Commonwealth Bank... that's when the wheels fell off at the Bank's end!! Despite giving my daughter the pre approval figure in writing, all of a sudden and with no prior consultation the bank re-evaluated the application and reduced the loan amount by $10,000. They also insisted my daughter close her Amex account. All this happened in the afternoon of the day that "best and final offers" were due in for the property as 2 other parties were also interested in the unit. What was really annoying were the many phone calls and emails required to get someone from the Digi loans area to finally tell my daughter the loan has been reduced by $10,000 and we'll get back to you confirming the new pre approval amount. Not that a pre approval means anything to the Bank anymore. Absolutely hopeless process and very poor communication by the Commonwealth Bank!