ANZ is Hopeless
I applied for an ANZ standard fixed refinancing loan through my broker in May. Its now nearly July and I’m still waiting for settlement with no date or other notification of a likely date. Once the application is lodged, ANZ does not respond to questions or give any indication of processing times. If I’d know it was going to be this bad at the outset I would not have tried to refinance with the ANZ. I’ve wasted considerable time on this.
Applied October 19 and loan eventually registered last week. Delays with staff in India, it’s beyond a joke. Take over from another bank which settled but the excess amounting to hundreds of thousands not paid into my offset account. I called the bank and after spending an hour on hold was told they having problems and had not setup the new loan account.
Anz DONT cancel my old loan if you can’t get your ducks in a row with important paperwork. Not sure I am going to last long at ANZ. Terrible terrible terrible service. Save yourself time and go elsewhere
An exercise in patience
We submitted our home loan application 8 weeks ago through a broker and we are still waiting for a final reply. Each week we are told we should hear something soon - We were advised 4 weeks ago we had conditional approval which is why we have waited this long.
Two weeks ago we were asked to resubmit our payslips because they were too old now to use.
Our application is now at the bottom of the pile again waiting for some person in India to look at it.
It’s been very stressful. I wouldn’t advise anyone to take this path. We should be in our new house by now.
Terrible timeframe on loan approval
Waiting over two months now to re-finance our house loan. Wished we had not chosen to go with ANZ and so disappointed that it has taken so long. No point in ANZ offering a low rate if they can’t actually approve any loans. Would not recommend ANZ to anyone unless you like waiting ages and getting really cross and sad
Waiting over a month for mortgage approval. Terrible service.
We have now been waiting for five weeks for our mortgage refinance / construction loan to be approved to be approved, meaning we've had to delay starting a renovation project. Unacceptable and really disappointing. We haven't received timely updates regarding when the loan is expected to be processed either, which adds to the frustration. Don't advertise for new customers if you can't process applications in an efficient manner. I'm already looking forward to my renovation being over so I can leave ANZ and move to a lender with decent customer service as soon as I can.
POOR EFFORT ANZ
I have been with ANZ all my life.
We are now onto week 10 of having our Construction Loan finalised. We have had nothing but troubles with our application which has been PRE-APPROVED for months..from losing our documents... to "overseeing our contracts come in".... today is 15 June 2020 our executed/signed contracts were forwarded to ANZ for loan completion on 6 April 2020. You can never get a straight answer from anyone... no one has the decency to let you know how the application is moving ... you can not speak to anyone and takes 3 - 4 da...ys to get a simple "we have escalated your application and we are doing everything we can to help"... this is not good enough at all. What happened to customer service ... you would think in this COVID -19 epidemic they would be wanting to write business as quick as possible. and keep as many customers as they possible can. You have been nothing but UNHELPFUL ANZ !!
Terrible customer service and unbelievably slow!
I have been waiting 5 weeks for ANZ to even look at my application for a home loan. 5 weeks! This is just crap. They claim they are inundated due to people now refinancing as they have very competitive loans now. If they are so swamped that it takes over 5 weeks to look at an application, from an existing ANZ customer, surely they could move more people into the team that look after applications! Even if they had to train them, it wouldn't take 5 weeks! Then they could hire people into other jobs to replace those people, and what do you know, it would also give more people a job! Seems to me ANZ is just trying to increase their profit margins by not hiring enough staff!
called them to gain some info on home loans. absolutely unreliable. was originally thinking of applying a loan from them but after my personal experience with them decided to pull even my savings account from them i have washed my hands clean of anz
and reading all the nehative comments here certainly has reaffirmed me that i made the wise choice indeed
Lost our contract due to ridiculously long loan application processing time... thanks for nothing ANZ!
Had a 21 day finance clause on a contract to buy an investment property. Not long enough for ANZ to process our loan. Seller refused to extend, so we lost the house. Money down the drain on building, pest, and legals. Would never touch ANZ again.
We went through a broker as we are first home buyers. We told them the date of settlement and when finance was due, we asked for a longer time to obtain finance approval (45 days) from our vendor as we understood that there could be some delays due to Covid.
... We have now had to extend our contract 3 extra weeks and if we don’t get it in 2 days we are going to lose the house and the money we’ve paid for checks, our legal fees and our vendors legal fees.
They have changed the date 4 times with no updates unless we contacted them first.
Avoid them - they can leave you stranded on the Last day
Horrible bank to rely on during the pandemic times. We had a home loan all approved (Unconditionally) and settlement all confirmed in advance. On the final day of settlement (which was yesterday) - their Assessment team pulled out of Settlement with Zero explanation. Our movement plans had to be cancelled, just because they messed up their internal paperwork. Still waiting for an explanation - on why a bank would leave it customers stranded, in the midst of a pandemic climate. We incurred a significant financial cost due ANZ's blunder with pap...erwork - this includes cancellation of movers, packers, cleaners etc. Plus no guarantee - if they'll still proceed over Settlement over next week Wish we could shift our homeloan elsewhere.. ANZ had good rates on their breakfree package, but they got no good work ethics or empathy for their own customers!!!
It is a nightmare. Automated systems keeps asking me to fill out discharge form. I have on a number of occasions which the head office recognised when I have called in. I was told to pay out the loan with cash to make the process quicker. I did that and all it has done is create confusion with their admin. Person I am dealing with has gone on leave. I am angry and scared I wont make settlement.
Day 35 and still no decision on refinancing the mortgage for an extension to my home from ANZ. Constant confusion, inability to plan ahead, lack of knowledge of their own processes and requirements. An absolute joke.
Worst customer interface ever
Found it impossible just to arrange to meet to sort out a couple of issues with a mortgage discharge. The automated voice service was a nightmare and it was impossible just to get to speak to someone.
ANZ bank is totally worst
I went for my land and home loan with ANZ my land loan was approved in December 2018 then I applied for construction loan in 2019 which was approved but I am still waiting for my first progressive payment to be made from ANZ which he hasn't put and my builder has put the work on hold bcoz he hasnt received the money from the bank. I have paid 20% initial deposit but still waiting from bank side. Its been a long time since I applied the loan and still ANZ saumya we will Do your settlement in 24 hours but when it will happen they don't have any idea
Worst Mobile Lender ever and very long process without any update
Perth based - I went to one of the mobile broker introduced to me by friend ( [name removed] - you know who you are ) for refinancing purpose & ANZ was having Qantas Flyer pts promotion back in August.
Stuffed up from day 1 - Asked me to come for an initial meeting after work only to be stood down ( that was 20 mins drive ! and an hour travel back and forth ) and told me that he is in another meeting. Initially I am not too fussy and told him that we can always schedule other time and I can submit all the documents he requires via e-mail.
...Initially , it looked promising. Broker were friendly and after i sent all the required document he told me the turnaround will take longer from 7 to 10 business days. After 2 weeks, no reply - had to call him few times and very hard to get hold of him claiming he is in the meeting, family came from overseas, and so on.. On the third week , only to be told that the 1st valuator estimated the house value too low and they organized 2nd valuator. Second valuator came on the next few days - they are the same agency who valued my property when i bought it in 2015. The inspector told me it will only take 2 business day for a report and after 5 days there were still no update. Rang few times - went to mailbox, and he called back the next day and said I need to clarify few points which had already been submitted previously. Anyway, I sent the paper again as per 27 Sept and since then RBA has further cut down the rate.. It is mid of October now and I have tried to call the broker few times but went to his mailbox. Yesterday i rang again and waited for one day and still no call back or even simple follow up message. Tried again today & went to voice message. At this stage I am very angry and left him a message to not bother again with my application.. Such long process just for stupid Qantas points and not too competitive interest rate... Do not bother to go with ANZ ! Glad i stopped using their banking service ages ago
Absolutely horrendous. Am taking my personal banking from them after home loan application.
If I would rate 0 stars I would. Went through a broker for an anz home loan. Upon brokers ok after beginning an application for pre approval put in an offer for a property which was accepted. Was stuffed around for over 3 weeks. Were given 3 different deadlines from ANZ for outcome. None were met! Applied for extension with the vendor. Finally received a response but declined due to an old anz credit card that was finalised in 2017. On their records it was still outstanding. I forwarded a finalisation letter from anz from 2017 and they didn’t even bother liasing and stuck to their no. Now we are scrambling to get finance with another lender and applied for another extension with the contract. Absolutely disgusted. Never again Anz!!
Too long to get a loan appoved
Two weeks so far for a loan approval and still no result. My application is straight forward with lots of equity, good income and clear credit for a loan for a vehicle using my house as security. I won't be using ANZ again.
Having a good mortgage broker is the key!
After reading some of the comments below we were really anxious about applying with ANZ, we were pleasantly surprised when our application was approved in 2 days flat. Yes, the application was sent to India and that didn't make a difference. Reason? I believe that having a great mortgage broker is the key, our broker went through our documents with a fine tooth comb, dotted our I's and crossed the T's. On many occasions he was able to pick errors in our data and guide us accordingly. What a relief this is and I wanted to come back here and post this for others so that they don't get worried like us. Do your research, be informed, use a broker and you will be fine.
Questions & Answers
Why have you outsourced your monitoring and assessing of home loans to India when they have no idea how Australians run businesses? We have banked with ANZ for over 20 years, had 3 home loans with this bank and all have been paid out. Now with a 50% cash deposit, we are told by Indian Assessors that they don't understand how an IT Specialist who runs his own company and has done now for over 20 years how we are going to afford the loan by moving interstate. IT Specialist who works remotely and goes all over the country and overseas. Plus, we had pre loan approval for buying our new house. ANZ, you are driving your customers away in droves. If we don't get the home loan from you, we go to another bank who will more than happy service us with a loan. Even your own Australian Business Developer (from the ANZ) doesn't understand what the Indian Assessors are going on about. Think about this: DO YOU WANT TO LOSE MORE CUSTOMERS? If this is how you want to run your financial organisation, you are guaranteed to lose out to other banks. This loan approval is now into Week 3. Not happy.
How long do i have to wait for a simple answer?
Approved or not after reading these reviews maybe 6 days isn't long enough to be left in limbo.
Communication is dreadful do i need to apply some where else
After 3+ weeks (and after us following up on it each week) were we told "oh yeah, you have been approved but the paperwork will take a few days". The person handling our loan has changed once so far. We returned signed forms but are now waiting on the 'Verification Team' (which I am sure is code for something) before it can be finalised. The wait continues, an agonising month on... No renovations before Christmas for us
They promised 5 business days to get an approval, real - it was about 12 to get a response. Their process is shady.
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