I will never recommend or use them ever again
Awful and inefficient practices, unwilling to provide correct statements or loan discharge figures. Loan payments taking 7+ days to "clear" and being told refunds after loan discharge will take 3-4weeks
Took out a loan with them for $347,000, but we don't have access to the full amount. Going to the ombudsman and hopefully we can refinance and have nothing more to do with them.
Very poor customer service
I am an AFG home loan customer. Due to COVID I was in hardship, I requested AFG to review my request to pause the repayment for 2 months. Didn't get any support at all!
Professionalism, Quality, Responsiveness, Value
Big thank you to Mohan for for his assistance on helping me receive a loan approval within 1 week. I highly recommend Mohan and his team to everyone. Big thank you again!
Worst decision of my life. Stay way and save your self from depression
The transparency and practice of this company is borderline unconscious misconduct. I am currently trying to doo a partial discharge of my loan which will reduce the balance of AFG by $110k but they are saying that they will not discharge my loan which I am currently servicing easily. My settlement is in a few weeks and they have left me absolutely no option but to discharge my all there loans from them. Funny how they don't want my business and would rather I discharge 3 loans instead of one. This is beyond my understanding and feel like they are purposely trying to make sure my settlement does not proceed. I will be making sure no one in my immediate contact EVER deal with these guys again.
Great to begin with, horrible afterwards
Easy to get a loan with.
Terrible if market conditions change.
If they review your rates when RBA rates change, don't expect a reasonable outcome. 0.05% offered vs 1% on their competitors.
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Administration is terrible
Their LMI fees are great and what not. So the savings side fantastic. But their admistration is ridiculous. Everything we have had to sign had to be done again. And when it was redone we had to wait weeks for the process then redo it then wait weeks again! We have builders waiting for money to be released and the bank is taking their sweet time. As soon as we can we are refinancing with another bank
Thanks AFG - good and simple service
We rolled over our finances into a single loan and received prompt and personal service.
Online facilities are easy to use and any queries have been resolved quickly - thanks AFG
Cookie Cutter Approach and No Customer Service
Seems great until you actually need customer service or a change. Unlike many others I decided to tell the bank I moved in with my partner and now renting out my home. I should of done what many people do and not disclose the situation change. In times where rates are low, having a paying tenant and a stable full time job should mean a lot to a bank, they hiked up my interest rate by 1% and charged a fee. I understand there is a difference between owner occupy and what banks say are investment loans, however most banks go through the process an...d may offer different rates for customers in different situations, and certainly not 1% difference in current market. They apply a cookie cutter approach with very little customer service to make you feel like you are important, they must forget how much profit they get from our loans.
AFG Home Loan Edge
AFG seem to be OK. No problems with settlement.
Bit slow with sending out Debit Card for the Redraw facility.
No Android App to easily manage account.
Payments into the account via bpay and direct transfer are really slow relative to what it is for a normal account and by modern banking standards meaning don't rely on them for quick transfers.
I have not used the Redraw facility yet as my funds have not been credited to my account.
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Excellent lender with great service
AFG have been excellent to deal with over the past couple of years. I have now changed back to a major bank as I need more features with my home loan due to living in a remote area. If you’re looking for a simple great value home loan with excellent customer service you won’t go wrong with AFG. They have also been excellent with the discharge of both my mortgages and very quick with the release. If I ever look at refinancing my properties again I will definitely come back to AFG.
Can't even do a pre-approval stage properly
I have gone thru an agent who did the processing recently for an AFG loan and luckily escaped from the unforeseen problems. I have given all documents correctly on time and agent did a wonderful job to send to their topline such as BDM, unfortunately, this BDM and toplines are utterly hopeless because whenever I send their requested docs latest I have to wait for 2 weeks for a reply and on a follow up the reply will be your docs are not recent , send the latest again and repeated for more than 3 times and finally I fed up and send just stop it. The later agent agreed you are not the first person having this issue, and my question was why you referring this irresponsible lender.
Horrendous service and woeful organisation. Keep away from AFG!
AFG have been a nightmare from the start. They screwed up our settlement which was $20k short of what it was meant to be. When we took it up with our broker, he investigated and found out that we had to sign a form to request early release of the FHOG. They never passed this form on to us or our broker so just didn’t bother to tell us that our settlement amount was short of the required funds ON THE DAY OF SETTLEMENT.
The fun didn’t stop here, when we provided them with the invoice for our base stage, they took 4 WEEKS to pay the invoice when...the builder said we had 7 days. In the meantime, we had the builder chasing us for payment and the frame stage invoice was issued also. When we spoke to AFG, we were told that we had to escalate the payment through our broker, so we did, only for him to be told that it wouldn’t actually do anything. He tried contacting the BDM to escalate it further, and he just dodged our broker’s calls. To top it off, AFG pushed up our interest rate right after we settled. This also just happened to be right before the RBA cut the interest rates so that they could maintain the same rate on our loan. The next RBA cut was not fully passed on either, with AFG only cutting the rate by 0.19% instead of the whole 0.25%. All in all, AFG have been possibly the worst company I have ever dealt with. They do not care for their clients and are completely unorganised. I would not recommend taking out a loan with AFG to anyone, and as soon as construction is finished on our home, we are moving to another lender.
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AFG have been difficult from the start
We have been with AFG (Retro) for only just over 1 year and they have recently increased the interest rate twice in only three months, despite the reserve bank rate remaining the same. They offer little explanation beyond their ties to the underwriting bank. As other users have said, discharge rates are high (in the process of discharging the loan) and the security property we used for the loan to begin with was layed down at an unreasonable rate of colatoral with some clear shadiness in the transparency of this within our original contracts. T...hey have also not been able to produce proper electronic statements, and even the versions you must pay for (if misplacing your original) are substandard in the information in your history they offer (beyond being a very basic transaction list with a letterhead). Their stated reasoning is that they have not yet properly established their digital presence. I would strongly recommend avoiding AFG and using a different lender based on my experiences.
Unexplained interest rate hikes, unreasonably high discharge fees.
I have been an AFG customer for 7 years for the purchase of my current home. When I signed up initially the interest rate was competitive but over the years after many unexplained increases this is was longer the case. If I had not been in a position to pay out the loan I would have refinanced.
This brings me to my next complaint, the time and cost of discharging my loan. I started the discharge process and paid out my loan balance more than 5 weeks ago but I am still waiting to get my title, and through the process I have slugged just under $...
Questions & Answers
Can you please advise when you will communicate your decision on the current rate decrease from the reserve bank?
They haven't passed on anything but are constipating on it...!!
You can view the latest rate movements in relation to the recent RBA decrease here - https://afghomeloans.com.au/afg-home-loans-rates-reduced/
Get an answer from our members and AFG Home Loans representatives
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