Don't lend money here! They even handle complaints bad!
have a loan with this mob who are part of the "NAB" Banking group. I applied to increase the loan for a line of credit and has been nothing but "pure hell" 6 months of complete rubbish! they would not pay for a registered valuation so they did a "desktop" valuation which means their computer tells them what my house is worth!...... and I built it!.... their valuation came back at $40,000 under what I estimated so I paid for a sworn valuation who came to the same value I did! would they accept it?........No way! after wanting me to rip up credit...cards prove things with ridiculous amounts of paperwork, take weeks to come up with new things to argue about, not take complaints seriously! I walked in to the Commonwealth bank today and was approved with in the hour! subject to Valuation and the Sworn Valuation rang me this afternoon! Outstanding Commonwealth bank! Choicelend credit department are rude! arrogant! and complete tools! If you want finance fast don't go to this mob!
Paid final invoice without required docs and before the house is ready to settle
We used Choicelend for our first property (apt). It went well as we used a small loan broker. When we build our first house, I thought I will use them again. The loan broker we use is Loan Studio referred by Carlisle Homes. It all went well, until the final stage. They paid the final invoice without making sure the house is 100% completed and getting feedback from home owner's inspection, and without home owner insurance document. We still have a few weeks before we can settle as the builder needs to fix a lot of defects and is waiting for th...e gas connection which will take a few weeks. We have to pay interest on the amount of the early final payment. Choice lend didn't apologise nor waive the interest. We will refinance the loan to another bank soon.
Customer service is lame
I asked for change my direct debit account for home loans but I gotta do with paperwork, signatures and all crap processing.
Their service it terrible. Will never come back. if you are with them. That is fine. If you try to leave that would be a nightmare. Think carefully before you are dealing with them.
3 years, no issues
Have been with choice lend for 3 years, my application went through very quickly and smoothly.
No issues since, bit surprised reading their other reviews.
Great website and friendly customer service if I chose to call.
Delay in deposit payment despite preapproval and taking ages to be released from their loan when ref
I'm a pretty experienced investor with several loans with different banks that I refinance regularly for a better product and usually very comfortable with finance lenders (non banks) like choicelend but they are by far the worse and not worth the tiny savings in interest.
Despite preapproval for loan, from signing contract (provided them a copy of contract on the same day) to payment of deposit, it was 5 months. They requested a document which the builder cannot obtain without the deposit payment and even their own staff agreed it was silly ...
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I read some of these comments and think they must be talking about another company. My experience has been wonderful and you CAN talk to them directly OR through your Broker. They seem to value the business and want to keep me as a client. As for delays, maybe this was due to the Builder, or the Refinancing bank. People always blame someone else. Some of these earlier comments seem to be from keyboard warriors :)
Very happy so far
When we purchased our new home, we decided to switch to a non big bank through our broker. He suggested ChoiceLend. There interest rate at the time was very good. We have been happy with the communication. In fact they called me for a review of loan and to do a valuation, and after that result, our interest rate was reduced again. 3 years down the track, and so far we have been happy with their service and product.
slow and unreliable
Even the low interest rate they offered has not been worth it for the appallingly slow rate that they undertake everything. They would not give us pre approval until we had signed a contract and had the stamped council plans...which meant that they wanted us to commit to constructing a home without knowing that we had the finance to do it!! Once that was all sorted we had to wait 4 weeks for the deposit to be paid to the builder, delaying our construction even further, waiting to see how slow they are with ongoing drawdowns. The only thing they did quickly was process the fees & charges to our account!! Can't wait to be done with them.
Refinanced all my loans to Choiclend from another provider and I could not be happier.
Fantastic rates, loans just humm along, and if need anything I can call customer care and everything actioned over the phone.
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Poor poor service
Stay away from this lender. Took 6 weeks to have our construction loan valued and approved (they continued to mess up the valuation) even after we had pre approval. Then on settlement of the land, they decided I would need to come up with an additional $6300 (despite already putting up $103K - everything I had) Now during the building process they are extremely slow to get answers from, and difficult to deal with. Customer service is 50/50, sometimes you get someone that knows whats going on, other times - no clue. Will be changing lender as soon as construction is finished.
Hi, I won't recommend this company at all. We are stuck with this loan and their very limited service. The customer service staff do not have very much knowledge and if you ring you will get answers and no results. Their managers apparently don't speak with customers and try sending an email to be followed up they don't answer them. All I can say is steer clear of this company.
July 12th 2019 Update: Avoid this company
very poor customer service they just don't care so don't bother using this company. Very limiting with services which can be offered also. Call center staff have little to no knowledge. They put up there interest rates just before an announcement of them coming down so ending up not passing on what your entitled too
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!
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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! .
CONDITIONAL LOAN APPROVED - RENEGED AFTER ALL CONDITIONS MET
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 t...heir 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 cal...l 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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