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ChoiceLend (page 2 of 2)

2.0 from 27 reviews

Loan discharge

ChoiceLend are fine as long as you don't need to ever interact with them! They declined an up stamp on our mortgage for having $38 arrears in rates that we didn't even know about and then we ended up leaving ChoiceLend to go with another bank and it has literally taken 3 MONTHS to get to settlement. You can't even talk to anyone as you have to deal through a broker?? We would strongly suggest not using ChoiceLend!

They have been great

I think choicelend have been great. The loan went through when needed.
The only gripe I have is that they followed the damn banks with the interest rate going up!.
I went with Choicelend to begin with because the banks are just outright greedy.
I don't care what anyone says!, they should be made to stick with the reserves choices! .


As the title says. We had conditional approval for a construction loan, met all conditions, including purchase of Land with our own money (leaving us nothing), signed building contracts, paid all charges due, then Choice Lend decide not to go through with their offer. We were due to start building in 2 weeks, now we have nothing but a block of land and no funds to get started. F*****g disgraceful act by CL. Time to meet with the Ombudsman.

Disgusting Service and Communication!!

Do not use Choice Lend if you want service. I requested a payout figure for my loan, paid the amount on that day... and sent through the relevant forms. Funds in my account where refunded to my account... I assumed it was excess interest which I had not accrued. I received absolutely no communication form Choice Lend. I then called again to see the progress of my discharge and requested the return on y title. I was then advised that there was a $295 admin fee and another $165 which needed to be paid the the agent to release my title. I would have assumed that when I asked for the "Final" payout figure... this would have been the "final" amount I would have had to pay to discharge my loan!!! Its is sneaky and deceitful. DON'T GET STUNG LIKE I DID.. YOU PAY FOR WHAT YOU GET!! WANT SERVICE??? You wont get it here

Dysfunctional company - avoid

In Feb 2015 a refinanced loan left me with a very small loan and monthly repayment of $16. Each of the last four months Choicelend has taken sums of hundreds of dollars from my bank account, when it should be only $16, because they have mixed my loan up with someone else's. They have admitted to this and promised to refund all the unauthorised funds they took, but are still helping themselves to my account as of yesterday - and have now caused my bank account to go overdrawn. After 3 months they still can't sort it out and get it right. Even their agent that I did the refinancing through cannot get them to sort the mess out, despite her best efforts. I feel powerless as I don't know what they will take from month to month. The only way is to close my bank account, which I will be doing on Monday, so they can't raid it any more, although was told by their representative that if I did that I would considered to be in arrears - even though all the money they have helped themselves to amounts to me paying 13 yearsworth of repayments in advance . Am contacting the Ombudsman to tell him/her that this company now owes me around $700 and to get this company to refund it - with interest. Be warned.

Very disappointing discharge process

I applied for discharge of my loan well in advance , though , it was mentioned on the discharge form that discharge will take up to 15 days. At day of settlement, FMS didn't show up, resulting in delayed settlement. I got interest penalty of $500 from vendor.
Very disappointing and distressful.

The hidden catches

Choicelend/advantage/perpetual trustees Victoria limited are all one and the same. Days ago they had to transfer significant funds from my topped up mortgage account into my bank account but transferred the funds into an account that was not mine....outcome - I have to wait until those funds were retrieved (if they are retrieved) in the mean time I still have to pay off the loan regardless on if the funds were retrieved! Whilst they hid behind excuses I was able to let choicelend know they had the funds back! I'm just a dummy who works in a call center (not financial institution based) and had to tell them a financial institution how to do their job and resolve their mistake.

Suffice to say, after much stress and worry issued resolved with no sincerity on their behalf. I shall be avoiding these clowns and taking my business elsewhere and would recommend others to be warned

They lost my money and held me responsible

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