Warning - stay away from AFG
Absolutely no customer service. Easy to get a loan with, but when you want to leave due to their ridiculous interest rates etc they make it difficult. Found out our loan is actually with a 3rd party and NOT AFG.
Don't EVER use then
Went with them for a great introductory rate, but didn't keep rate competitive for existing clients. Paid more than required weekly and wasn't made easy to redraw. After redrawing once had to contact them again to do it again. Now refinancing for a rate of more than 1% better, the settlement date has already been pushed back by AFG three times. Do your research before consider using them.
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.
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.
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.
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.
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.
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.
I feel sorry for the people that work here. There has been multiple issues.
We needed a revaluation done just prior to construction. We lodged the request and after 2 weeks of following up with calls to them, they said there was no record. During this process, we were given conflicting information. Then we re-lodged the request. They told us this would take several weeks which delayed our build start. We couldn’t speak to a supervisor at any stage and they said we didn’t qualify for their escalation process.
Then the construction drawdo...wn process began. We were threatened with late fees from our builder as they were slow in processing the first payment. Again no escalation until we lodged a formal complaint and they said they would expedite the payment if we removed the compliant. We are now at settlement and surprise, surprise, settlement is now delayed due to slow processing of payment. Again we don’t qualify for their escalation process. The customer service person told me they are under staffed and unless we are going to homeless we don’t qualify. I am sure they just increased their interest rates to put on more staff. Every time you call expect to wait for at least 30-40. If you have a complaint, don’t expect to be able to get help or to be able to escalate. As a part of the NAB, I don’t expect anything else from this poor excuse of a company.
I’m warning anyone that will listen to stay away from AFG.
I have a loan with them for my land, but Im transferring my land loan to another bank to build my home.
My account was canceled by them but they are refusing to realise my loan to the other bank. But in the mean time they have charged me $800 and are trying to charge me interest on the account that was closed. Settlement has been pushed back by 2 weeks now and I’m still waiting.
I was also ahead on my payments and haven’t seen or heard where that money has gone.
Please stay away from this company
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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