Rang to change my account to take my mortgage from and they completely botched it and now because of their incompetents I now have a disshonor payment against my name as Advantage still attempted to take the repayments out of an account that l had changed. I wish l could give a minus score as a 1 star rating is still to high for this so called establishment.
Just ok after being with them for nearly 10 months, long waits on phone - email is better
Been with Advantedge for almost 10 months and it's been ok. Interest rate was one of the best for us and we were only seeking a basic mortgage with no add-ons. I think it's a no frills mortgage company so don't expect extras. It can take a long time waiting on the phone to speak to someone - very disappointing. Email response is generally quick - as long as it's not an emergency. When I do get a response (phone or email) then staff are polite and helpful.
Gave 3 stars as the response time could be faster, the internet setup when logging in cou...ld be a bit better, and our current rate could be better but it is still a competitive rate and we haven't really had any issues. Previously had mortgages with BankWest and ING and both were really good. I would recommend Advantedge to anyone who wants a basic mortgage but doesn’t have high expectations.
Absolute Crap and worthy of a AFCA complaint
Like a few reviews down - sold block of land (they had 2 as a combined collateral) - sold one and they demanded that all funds be paid off the 4 separate loans. This was supposed to give me 200K as cash and the other property valued @ 525K with a 200K loan. So to settle I now have to pay off the loans and have a 525K property with a 3k mortgage. Given that this mob of lunatics take 3 months to settle - they will then hold a simple sale, for 30 working days, to finalize a 3K mortgage. Useless oxygen stealers.
No Customer Service its like they are in Administration.
Never return phone calls. FastLend phone number to contact them is disconnected. Waiting 3 months for a call back now. They dont respond to emails or messages. Have been trying yo refinance they wont respond to my bank. No interest rate pass. Nov 2020 why are we paying 3.69%? Ripoff
A costly mistake.
There were a lot of hidden costs. A lot of the said cost is time. Takes too much time to complete a simple request and staff are incompetent requests keep going back and forth. If you wish to have a tainted credit report due to company fault, this is the right place to be.
Bunch of incompetent bozos
I have now paid off my loan and it's in credit. I asked them to make sure no further repayments were deducted from my account (because I know companies like this are useless and will keep taking payments for a loan that's paid off) and they sent me an email saying I had to fill out a form to "recalculate payments"?! Hello, there's no repayments - the loan is paid off! Am currently on hold with them for
over 2 hours as I do not believe they are actually taking calls and are using Covid-19 as an excuse. Now looking to complain to the ombudsman or higher authority.
The customer service is useless. Don't answer the call despite several attempts to contact them.
Their loan rates is not competitive.
They increased the rate from 3.39% to 3.64% on September 2020 despite the rates are falling across the industry.
stay away from this ripper.
Mortgage Loan undue recovery
With my experience of being a Advantedge customer, I am so much in trouble the way bank treat me as a customer. I have to sold my investment property to reduce my exposure for my mortgage on Investment property. They are so much harsh on you in a difficult time like this. They held all my money from sale of investment property against my home loan. It is not expected in normal circumstances. I was supposed to be receiving the excess over that investment property loan to pay other debts taken for the construction from private lendors and credit ...cards. The bank is adoment retained all surplus money against my home loan reduced my home loan limits significantly because i took interest pause. They panish me for taking the government relief. Though the pandemic interest relief was officially to relieve customers. The bank has taken it as advantage to them-self and tried to put me in a financial crisis. The bank has ranked me as a defaulter internally. They have taken harsh action against someone who put interest on pause. Please please do not use Advantedge. Please use any other bank who understands customers in a situation like this. For my luck there was another bank which is helping me to refinance Chris M
Useless, dumpster fire of a company
Request documents over and over
Don’t respond to emails
Don’t make payment on time
Slow to approve loans
Very bad at getting things done.
Online service is a nightmare, still haven’t been able to gain access because they post pins in the mail? Like that’s safer than Identifying me over the phone. Pins don’t work when they do arrive.
ZERO stars AVOID and NOT TO BE TRUSTED as they hit you with everything bad when you try to leave them!!
1. Called to find out all exit/break charges and fees in advance of a refinance. Was incorrectly told there was only fee was a flat fee of $295 on fixed rate mortgages with no other break fees. On settlement day 5 hours after the scheduled settlement time I was told an additional $3k fees were due, hence settlement did not go ahead.
2. Called to find out if all direct debits were cancelled and that no money would be taken out of my account. Was told they were cancelled from the previous week and that even if they were activated that no money wo...
Simple loan and happy with
Not as 'snazzy' as my last lender (RAMS) but the rate is significantly cheaper and I am saving a lot of money.
Internet banking is a bit old-fashioned looking but does everything I need (transfers, balances etc).
If an old-looking internet banking platform means I save thousands a year, I'm all for it. Rate has continued to drop with the recent RBA rate cuts which is great.
I might look to refinance to one of the online lenders (like Athena) in years to come who are slightly cheaper again but very happy with My Loan Elect.
Seriously no compassion, & you think the big 4 are bad!
Highest interest rates. Over 1% more than the big 4. They don't drop rates accordingly, compared to everyone else.
From the 4/05/20 Will be the first time they actually fell below 5%... Won't price match interest, they said speak to my broker, my broker said speak to the lender... Currently they have not replyed to emails or phone messages I left over a week ago regarding effects of COVID 19, for which I've been put off work.
I wanted to rate 0 stars but I can't submit my review unless I select at least 1.
Great stepping stone to another lender!
I had my loan with these folks for two years. Refinanced to Athena and haven't missed them.
To summarise my experience:
- They lent to me as a first home buyer. Helpful but downhill from there.
- Everything is manual and on paper - no such thing a decent website
- Poor communication
- Generally good rates for acquiring customers but once you're in you're left to age or be priced upwards
- The online system is horrible. StarNet I think it is.
- Call centre staff seem nice but can't actually get anything done. Constant attempted hand offs to broker/mortgage manager despite my feedback.
- "Pricing reviews" have to be formally lodged on paper and take At least two weeks (give me a break!)...
Offer a good initial rate but won't last for long.
They had an initial competitive rate but as the reserve bank dropped rates they did not drop theirs. So far 1 partial rate reduction after 4 reserve bank drops. Now I'm stuck on a rubbish rate. Can not get through to customer service. Stuck on hold forever and they don't tell you an estimated wait time. Very disappointed. Will be looking to move my loan to another institution.
Update: Refinanced with another institution but Advantedge held onto $2K of my money and will give me a date when they will refund it. It has now been 3 weeks and I'm still waiting. I have now lodged a complaint with the Australian Financial Complaints Authority.
What kind of reputable company steals your money like this?
- Verified customer
Unable to give construction loan
I took 90% lvr loan for land. The broker informed you do 90%lvr loans on land and 95%lvr on construction. Happily paid our 10% deposit. And now you tell us you don't do 95%lvr loans for construction. This may sound like a joke, but no I have to pay LMI again to refinance to a bank that can give us construction loan. Not fair to have our lifes messed up like this. As for your senario team, mislead us. One said yes we can give you 95% lvr on construction, let you broker call us. Our broker called, but told him you don't do 95% lvr on construction. I am gutted, I had to move contract date with the builder in a rush to find a construction loan.
Questions & Answers
I just wanted to ask, if Advantage give any offers or special benefits to Registered IPA/CPA Accountants on any of their home loan or other loan products?
Like ANZ don't charge LMI to accountants on minimum of 10% deposit.
Can you please tell me fixed rate of interest for home loan (non owner occupied).
Thanks and regards
I never get anything from Advantedge except stress and undue finance recovery actions on me. I sold one my property reduce my loan exposure with Advantedge. I was meant to receive excess money after settling the Mortgage on my Investment property. They retained the excess sales money against the Owner occupied home mortgage without any reason. They said that I have taken the interest differ facility during Covid and that was the reason. They are highly unprofessional and unethical and do not listen to customers. It is far better to get a loan from a better place. The other thing is the valuations, they never come in your favour with Advantedge, they always push the valuations to be below the actual market or purchase value. I have refinanced with another bank for a low interest & better service. I never recommend Advantedge to any one
Just wondering if anyone knows how Redraw works on Fast Lend loans?
I'm currently with them, however even after speaking to a consultant over the phone (and 'activating' redraw) I can't get my head around it!
I know they don't offer an offset account, instead you transfer additional funds directly into your variable loan account.
I've done this, and can see the additional funds show up in 'transactions' however it shows up as 'redraw not available'
Any help greatly appreciated.
About to use these lenders through Broker, white label, My loan elect ,
any Ideas, rate is cheap?
I have my mortgage with them (different label), I love it, just a good basic loan, no bells or whistles so that's why you get the low rate. I'm also a mortgage broker and refer a lot of my clients who are fine with internet banking only to them
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