Bank of Melbourne Advantage Package

Jason Phan ,Glen Branch 3150 – Jason Phan, lending manager at the Glen Waverley Branch ,Glen Shopping centre 3150 , is a young man who has given me back my faith in big banks . His professional approach to solving complicated problems in a simple process has fascinated me. I was seeking an investment loan that I knew was drawing a lot of energy, but from the beginning of the… Read more

process I had a good feeling that Jason knew what he was doing and was 100% focused on the job. The process of getting the loan took a while, but thanks to Jason, everything was fine from start to the settlement . BOM ,you need more people like Jason Phan, ranging from relationships with people to professionalism in doing your job. Jason Phan , big Thank you

Service? what service – We applied to re finance our home loan in November plus a small extra amount to finish our house renovations, we were told we would have the money before Christmas, it's now 24th Jan and we are still waiting. They sat on all of our paperwork (statements, payslips etc) until the expired and then asked for them all again, then came back to us an… Read more

additional 6 different times to ask for additional paper work. We finally got approved just before Christmas, sent back the loan documents early Jan, when we followed them up they said that our signed documents were probably in their new letter box but THEY DIDN'T HAVE A KEY TO OPEN IT?? seriously are they trying to run a business or not??? this went on for 2 weeks until we find out they managed to open the letter box and our documents weren't in there. We now have to go down to a local branch to sign them again, the fun never stops. We wanted our renovation finished by Feb.. what a joke and we have to continually harass them to get any update and we never get an apology. Beyond frustrated and still have no money!

sucks !almost lose my auction house! – Worst bank ever, we had our Pre-approval for my home loan from Bank of Melbourne, so we went to house auction and we bought the house. went back to Bank of Melbourne to get final-unconditional, they keep asking for more and more documents, those documents meant to be done before Pre not in final, not one time, two time and three times for asking… Read more

more than 10 documents and my broker just told me they tried to reject me in nice way and my settlement was in 30 days, so it was very scary time, so we have no choice run to different bank and get final approval. seriously, if we don't do that we will lose our 10% deposit or pay full a mount in cash. screw that! don't be bother to go bank of Melbourne. almost killed me. finally i had my final approved from NAB. Thank God! Released!

Worst bank to deal for home loans – We applied for home loan and even after 4 weeks they are unable to provide any decision, worst people to deal, if anyone is looking for home loans just DONT bother talking to these fools they will waste your time and make your contract go cancel.

Stuck with them wish i could get out – Biggest mistake I've ever made is being used by this bank, wish i was working full time so i could refinance with someone else

Telling me i had pay out finance owed on car before they gave me the loan to purchase it – 2 hours on the phone back and fourth with bank of melbourne personal loan staff overseas operators, one guy i had to hang up on because i couldn't understand him and they are telling me they cant release my loan money for a car untill the finance owing on it is paid of with my own money or the seller pays it. After speaking to the financier that… Read more

holds the car i called bom back and had to explain to them the protocol for this type of situation that is they write 2 checks one to pay out the finance of the car and the difference to the seller. Pretty simple stuff really if you work in a loan department you should know how to loan.

Lying, corrupt, thieves – They are sneaky thieves who have no concern or fear about being exposed. We sold our investment property but they paid out our owner occupier mortgage, we were unaware they had done this as was our conveyancer. We never received any mortgage discharge paperwork, we haven't been able to claim everything through ATO, we were unaware they even had… Read more

the audacity to leave the loan as an investment mortgage at interest only, (only recently have they included this info on statement) we have been fighting this for years, final came this year when Victoria changed land tax laws for investment properties and l received a land tax bill, as our mortgage was still listed as an INVESTMENT MORTGAGE so now we have the potential of a capital gains bill. The banks response to their internal investigation has been that they saved us break cost fees and it doesn't really matter as they paid out the security instead. They have dragged this out so they could destroy our paper work, l have dug up EVERYTHING and thankfully through social media we have been able to network with solicitors etc that Only deal with the corrupt banks. FOS are a waste of time. The BOM ardd a criminal organisation that need consequences of criminals and face criminal charges, DON'T be fooled they are NOT incompetent they ARE thieves.

Customer Service is just "a Job" – I don't know why they don't have a negative star rating. Horrible Customer service. Got a credit card with them, want to find out my balance and they drag me to 8 questions which include the details I entered during the application. (Eg; email). who is going to remember what email you have given during an application made 3 years ago. They… Read more

Locked my Banking straight up. Says security reason. Are they real.. they want me to visit the branch to fix it.

I wanted to use that card for an airline ticket and I lost the offer just because of the Customer care.

I am cancelling my card this week...!!!!

Don't bother - they stuff up everything! – We were recommended bank of Melbourne by our mortgage broker - what a mistake. The trouble began when they sent the wrong loan documents out with a higher interest rate. We alerted them and were sent a new set, so we signed them the same day and sent them back. They lost them, and our settlement fell through. After settling the following week and… Read more

feeling pretty stressed, we went to meet someone from the Bourke St branch to set up accounts. Too many accounts were set up, with fees of course, and she spent most of the time pushing products so she could earn a commission, including a credit card with a very high limit. We questioned this, and she went on about how it would benefit us. The joke was on us! A few days later, we found out that we were rejected because I was on maternity leave, and this would affect our credit rating. Why we were ever pushed so hard to go for this product became clear - our credit rating was worth risking for her possible commission. In addition, all the accounts were stuffed up and have cost us extra fees, we asked for fortnightly payment verbally and in writing, also ignored, costing us extra interest, the bank apps and site are rubbish ... and I'm sure next week they will have mad more errors! Save you time, money and sanity, and bank with anyone else!

Shocking customer service – I have the misfortune to be zoned in Prahran so am a customer at their Chapel Street Branch. OMG! Apart from continual staff turnover these people have little knowledge of what customer service is or how to sell a product. Requests for basic information such as the latest housing loan interest rate becomes a major undertaking. Should you require… Read more

'assistance' the staff fail abysmally to email or call back and rarely can you get to see a 'loans' manager. I am fed up with this branch's ineptitude.

Brilliant in customer service – As usual

Incompetent in handling online applications – I have applied for a credit card with a 0% balance transfer. They kept on sending me emails asking to send them additional documentation, which I did but they said they never received it. Every time you get to the end of the processing line. I walked into a branch and gave a printout to them personally, they still kept on asking for it. Three… Read more

weeks later, I am just giving up on the application and cancelling it. Other banks do this within couple of days. They should not offer online application process if they don't know how to do it.

Valued customer treated like a common criminal – After BOM offered me hardship for 3 months they cancelled my credit card even though I met all the payments during and after hardship they wont allow me to apply for a new card with 0% interest so I can get on top of my finances. Unlike the rest of the Australian population I am actually making regular repayments and rather than spending I am… Read more

getting on top of my credit card debt. Unfortunately thats not good enough for them. If I was a lying, cheating, criminal well that would be a different story.

Very disappointed. I was only the phone for 45 minutes with 5 different people and I got no where, just a big F!!!!!!!!!

Oh and according to a debt relief company run by the Australian government I have a VERY GOOD credit rate.

Thanks for nothing BOM.

An incompetent, confused bunch! Save your energy and time GO ELSEWHERE! – My mortgage broker highly recommended BOM (possibly due to the high commission they pay), but the experience has been horrendous and I'm really crossed with him too. I was shocked at the number of issues I have had so far; errors ranged from incorrect calculations on the loan agreement, not having the funds ready on settlement, stuffing up the… Read more

repayment, not opening the credit card that we applied for, but then opening it and balance transferring to a wrong credit card (I was left to pay the fees and sort that one out), charging me admin and late fees for not paying the mortgage payment (only this is a system transaction the bank has to action, and of course they returned it ONLY when I called and complained!!) and the latest is with charging me the wrong interest on the credit card because "that's how the system works at BOM". I have wasted so many hours on the phone and really losing my patience with this bank. If you are reading this you are having doubts, take this as a warning and GO to any other bank!

Never called back – I was applying for home loan. The bank promised to call back but never happened. Never deal with them again.

It's a joke!!! – Applied for credit card received confirmation email informing credit application was successful.Then asked to go to St.George to provide ID.On presenting my ID they couldn't find any details of my application on their system.

Rude , does not understand anything – Luckily I am not going to chose them by my broker . Had been contacted with one of their lending managers: was very arrogant before until I was sick of them to say: let us terminate the process now as I got heaps of choices . He turned around . Their credit team does not understand FBT and salary packaging and ask every silly question and wants… Read more

lot of certificates. While they marking around with this , I got 3 approvals from other banks . Now they out of my business . Sick of already from the beginning

Biggest Liar ever - irritating home loan managers – Bank of Melbourne home loan managers practically lie saying that they add the mortgage insurance to our home loan, but in fact they charge that amount from the very beginning of our settlement and shows just a jargon of numbers to fake that it has been added to the loan. When we ask for further clarifications they just use most talented liars of… Read more

them who are able to come up with a nice flow of words to cover up their work. These super talented liars are called "Lending Development Managers"! This disgusting bank misleads their customers by not providing accurate and clear clarifications and wastes our precious time!

Incompetent team, just not interested in gaining business – We have an ongoing home loan with one of the big four banks and were shopping around for better rates so we contacted Bank of Melbourne. They had a representative sent to our residence to give an idea about their rates and services. She said that she'd be sending across a property profile report soon and we could take things further from there. … Read more

We never got that report so tried contacting her again. She came back to us saying that the loan couldn't be approved since the profile report said that the property was valued less than the total loan amount we already had (which is < 75% of the property value). We cross-checked stats with our current lender and realised that BOM had prepared the report based only on the land value and had not factored in the newly constructed house on it. Since our house is constructed on a newly sub-divided acreage they got their figures from the government records which included only the land value which was registered upon sub-division they didn't consider the fact that people would need loans to construct houses upon the land.

irritating service – Applying for loan is a disaster. ..they say 97%. but they will ask every inch to inch detail until you provide your toilet bill.!!!. No need to provide these detail together one bill needed on jan ,other one on march...nxt one on may...this will continue until u mad. Loan assessors are illiterate. No criteria for what documents needed from the customers.

Bank of Melbourne - The bank with real people – After waiting six weeks for Suncorp (that kept on asking us for more and more documents and re-sending updated ones) to assess our application for a land and home package we got a call from the developer, saying that our time to get approval from the bank has expired. They will have to give us our deposit back and put our block of land back on the… Read more

market. We asked for a three day extension and went to Sam Vaseekaran from the Bank of Melbourne in Bundoora. All the staff there were very helpful and polite. Sam saved the day. He really knows his job well. He reassured us that he will help us as much as he can. He was able to clearly tell us what documents we need to produce and quickly go through all the requirements. He got us a pre-approval in writing in 3 days. He was able to answer all our questions along the journey to acquiring our first property. The block of land is now ours and we are starting the process for building our first house on it.

Thank you very much Sam Vaseekaran and God bless you.

Can't believe this company – Staff are lying, misleading and try to steal money from you. Had 3k taken away from me without reason. Staff are disgustingly rude and do not care to the slightest. They are very ruthless. They keep switching my repayments to weekly and it is an off pay week and they keep doing it. Spent about 15 hours in total on the phone and in the… Read more

bank so far and got no where.

Avoid this bank at all costs avoid it!!

You have been warned.

James

Worst, Terrible, Lies, Unreliable Service, Difficult! – I had a home loan with Bank of Melbourne, which I refinanced to other bank. I have a credit balance due to settlement amount and I did received a letter suggesting that I have a credit balance and can redraw the fund. TWO MONTHS AFTER refinancing I still have not received ANY bank cheque from them nor be able to draw the fund from the branch!!… Read more

Called their call centre/ mortgage department/ discharge department (you name it!) MORE THAN 7 TIMES only being lied to. They promised us that a cheque will be issued and sent to our address THREE TIMES and no cheque has arrived at our mail. Spoke to settlement department named [name removed] and also spoke to their supervisor/ manager named [name removed], which promised this will be looked after, but yet lies and lies! Bank of Melbourne, what a DISAPPOINTMENT and DISGRACE! We still have not received our money back!

Bank Of Melbourne Home Loans – One Word Outstanding. Where can you get a home loan with at a rate of 4.19% variable of fixed, combined with service that you wouldn't believe. Not the big banks that's for sure. For example, the Lending manager will come to your house at any time to see you and explain things and help you sign documents etc. Can't for the life of me see why people would go the Big Banks that can't offer comparable rates and service.

Mistake after mistake – Moved from challeger maortage thinking that this is a big bank but boy was I wrong. 1. They lost my home loan application had to resubmit it 2. Two loans approved for 2 units one variable one fixed interest when I received the actual papers both loans were variable 3. The send a cheque for the difference of the loan from challenger but as… Read more

soon as I deposited the cheque they cancelled it and told me its going to be progressive repayments

4. I finally started with a builder I paid him 7000 deposit but the bank wants me to show a deposit of 1500 I told then I paid higher deposit than required but wont listen to me and told me to produce an invoice of 1500 and then they will process the repayments

What a waste of time this bank is

Appalling service and lying staff – They really deserve 0 stars. Worst bank ever. When we applied for our home loan, we were told that we would only be dealing with the lending manager or his assistant. It's only been 4 months and they've both moved to another branch...How useful. Offered us a refund of our first year annual account fee, then charged us anyway. Took us months of… Read more

complaining to get it back, conveniently forgetting about our complaint each time. We also applied for a credit card, and was told by 2 different people at the bank that there was an offer of interest free for 12 months. Only after they charged us interest did they say actually our card is excluded. Again took many visits to the bank to sort this out. Unless you enjoy being scammed by the bank, please go elsewhere.

This bank is crap – Right from the start going with this bank was a mistake. First of all there were issues setting up our mortgage including the interest rate we were told we would get being changed to a higher one ( at the last min, so no time to pick another bank before settlement).about a year after we went to put an application to subdivide at the local council… Read more

only to be told that the property isn't under our name!! The bank hadn't finished the process by changing it over into our names at the title office. They wouldn't accept responsibility for the mistake and tried to blame it on our Conveyancer .which is total crap. We are definitely moving banks now after my husband went to draw out $320 from ATM and no cash came out but it's out of our account. The problem here is apparently they can't give us the $ back for 11 days! Lucky we don't live week to week..totally incompetent and worse device from a bank we have ever had.

Advantage Package is a waste of time – Why would anyone be willing to pay an annual account fee of $395 for a home loan a mortgage account? Aren't these bank earning enough from the usual interest rate that we are paying them. What a waste of my time of spending 1.5 hours talking to a Lending Manager. There are plenty of banks with no application fees, and annual account keeping fees.

Horrible customer service, very confusing, loan process is a disaster – Biggest mistake ever. Bank of Melbourne (BOM) and St George are all in Westpac's group. Chaotic internal management and poor communications between departments which can cause you huge amount of time and MONEY to deal with. I have taken out Band of Melbourne's Advantage Package to purchase my new investment property by utilizing the equity in… Read more

my current property. It requires BOM to refinance from my current loan provider Ubank and also loan for the new purchase. I was advised by BOM's settlement team that I should have the refinance done well in advance of the new purchase. So I did and booked the refinance on 8/1/2014 (this Wednesday). My solicitor then called BOM to book the new purchase for 17/1/2014.

Then on Wednesday afternoon when I called up BOM to find out the shortfall I need to prepare for next week's new purchase, I was shocked to find out that my refinance was rebooked by BOM to 17/1/2014. No one ever called me to advise this change and the customer service officer told me that refinance and new purchase had to be carried out at the same time. When asked why their settlement team suggested me to book the refinance in advance in the 1st place, 'different department and not much we can do.That is our policy they had to be on the same time'.

Okie, if the policy is as it is. After I hung up, I called the same customer service no. again and .. .How FUNNY... This time the service officer was 100% sure that refinance can be and should be done well before the new purchase. Customers are at their own risks if anything goes wrong at the refinance and the new purchase would be delayed. This guy just had my case escalated and I am still waiting on a update from them..... Reasonable rates Chaotic internal management, slow response to customer needs, poor customer service