Definitely wouldn't recommend
Will not allow an interest only option which has made things difficult for me, they are very slow to pass on interest rate drops. I cannot wait until I am able to re-finance elsewhere.
Worst bank I have ever dealt with
Sold my property and settlement is over 1 week overdue, bank keeps making up excuses why it cannot settle, keep getting conflicting information from different staff. With each query/phone call there's a new lie and excuse. Can't get a straight answer. Their problem solving skills are non existant.
paying to high an interest rate
I have been with choicelend for 9 years now. About a month before the last interest rate drop they put my loan up by .15 pc and have not yet passed on the last rate drop which makes my loan a very expensive one all. When I emailed them about this got no response.
Taking "no frills" to the extreme
I refinanced with Choicelend. I was told the variable and no fee terms they offer are so good because there aren't all the unnecessary "add ons" that other banks include in their mortgage products. For example I didn't want offset but I did want redraw. It's been a debacle since settlement. Terrible customer service. Conflicting information from different staff. Long wait times for call centre and for email response turnaround. As for their Cemtex system...I wouldn't recommend this lender if you want to make additional payments to your m...ortgage. If you want transparency in terms of processes I'd forget that as well. I called the broker and told them I would opt out of this lender if I could do so without incurring fees. There's a question below in this rview page asking whether I could tailor the loan to meet my needs. I thought so but it turns out that I was very, very wrong. Abysmal. August 6th 2019 Update: Terrible from settlement to disbursement Pleased to say my settlement with a new lender has settled and Choicelend can become a bitter memory. Right up to the disbursement of the loan Choicelend stalled, failed to notify either my broker or me of important information and only "escalated" my request to instruct their lawyers to discharge to loan after I'd rung them weeks after the discharge request to ask them what the latest delay was. A really, REALLY poorly managed lender with ineffective systems. Don't believe the hype about Choicelend's amazing variable rates either. I got a much better variable with a more reputable lender who I should've gone with in the first place.
Find out how ChoiceLend compares to other Home Loans
Know better, choose better.
Questions & Answers
Sorry, there are no questions yet.
Get an answer from our members
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.