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.
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
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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