Hopeless total lack of communication false information
Going though a separation changes were made to the loan without no communication with the second borrow leading to financial hardship I ring them and and they put the blame on you I had enough of this mod time to refinance elsewhere if you go though a bank do it
Getting a Loan should Never be this stressful!!!!
My broker suggested them to me but their process was extremely stressful, customer care was unresponsive. A whole 28 days to get a Loan.. Submit documents today and wait weeks for them to answer, Err no thank you. Thankfully we were able to get a private lender with flexible rates and not as much fees as these rogue lenders out here. Please save yourself the disappointment and reach out to [Name Removed] [e-mail address removed] thank me later...
Nightmare To Deal With
We had a home loan with this company and opted to refinance to our bank that we do all our banking with. Choice lend missed the first two settlement dates and offered to reason as to why. I have spent hours on the phone trying to get it sorted with no luck. I would recommend another lender that can handle your issues professionally as well as in a timely manor.
Zero rating for crap bank
Where do I even start? My broker suggested they are a great bank with attractive terms and I got taken in. The whole loan process was a nightmare and it was extremely hard to get hold of them either by phone and email. The broker was trying his best but in total vain. Their Online system is equally horrible. Currently I have lost access to my online account and have emailed them twice and sent forms etc but again NO response in the last 10 days. I do have empathy for their staff with COVID around but I wonder if they even have anyone still wor...king or have they all left? Their eerie silence worries me. Please do not commit the mistake that I did. I was previously with Westpac, NAB and ING and I would EASILY rate ING the very best. Unfortunately I could nt stick with them as they couldn't finance a build. BIG NO to CHOICELEND
Worst banking experience
Clunky system resulting in many stressful delays when accessing our funds and staff who have no knowledge or pass the blame. Tried to blame us, the bank we were trying to trade funds to when ultimately it was all on Choicelend end. I read negative reviews and questioned our brokers choice.
Avoid at all costs. I would not recommend banking with choice lend regardless of the financial incentive
Unable to refinance/change lenders.
This bank is hopeless when trying to refinance with another institute. My new lender has booked settlement twice only to have Choice lend not come through on their end. They keep making excuses and have been waiting over a month and have no idea when it will go through.
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3 off cycle loan increases in first 6 months of loan
Took out a loan in December 2016. On January 10 first rate increase. Followed by more in April and July. There were no reserve bank increases. We were stuck because we had paid mortgage insurance. Be wary if your mortgage broker recommends this option.
Probably best not to waste your time and money applying with these amateurs
Applied for a $250,000 loan with $700,000 property as security to expand a Student Accommodation Business. 7 Weeks later we were asked to supply and pay for Accountant prepared interim financials, which we did, these showed income of $83,000 for the first 9 months of the fiscal. Our application was declined because in the previous fiscal year we had a paper loss based on the write down of an asset. We were told the Accountant prepared interim financials were requested in error as our application was always going to declined. Just be wary, these cowboys also masquerade as (Dis) Advantage Finance and the NAB. Overall, the lack of service we received was shockingly bad
What a terrible lender!
We worked with a broker 7 years ago and borrowed a lot of money on a Melbourne property. We never missed a repayment and in fact always paid more than we needed to. In October we sold the property and settlement date was 19 December and we noticed our payout was almost $3000 short. We questioned why and were told that they held next months (January 2020....we settled December 2019) payment as security! Just in case the sale fell through.....seriously! No wonder we have a royal commission into banking in this country. We still don't have our 're...fund' and it has been well over 5 business days since (we were told 5 business days). Don't use Choicelend under any circumstances.....disgusting and not a very reputable organisation. Also, be wary of using brokers....some are good I'm sure the rest.....hmmmm! Ombudsman first thing tomorrow.
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.
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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.
Slow application and slow to respond to rate cuts
Application process took well over 3 months with many (almost stupid) questions being asked resulted in another week long review process each time. As I was refinancing I told my broker I'd had enough and ready to quit luckily loan came thru soon after. Notice now they are terribly slow passing on rate cuts and slow notifying you. Was with ING before and they were brilliant in comparison. Should have refinanced elsewhere
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It's Simple - DO NOT choose Choicelend
Our 1st ever property has been mortgaged with Choicelend. We managed to save few $$$ and deposited in the loan account as we have a "Redraw" facility. These deposits continued and we had saved about 120k.
There was an urgent need (emergency) for which we needed cash and when I requested for redraw of a portion of the amount, it was dishonoured. None of the agent had any clue. Throughout this ordeal they gave me different messages and by then I have come to conclusion that a) they don't speak truth or b) they don't know what they are talking ab...out. The 1st redraw was attempted on 19 - Aug and it took a week to realise that it was dishonoured. I was asked to raise 2nd request (26-Aug) and this time, they promised it would go through.... Fast Forward to 28-Aug, they have rejected my redraw once again. It's MY MONEY and I have the right to redraw anytime I wish to.... There has never been a dishonour or any other issues with my account. In fact, I have and am paying more than what I am supposed to. My humble suggestion is that you stay away from them and don't get lured by any of their tactics.
PIN for Internet
New customers please be aware that the PIN number they send you by post is on the back of the pull off tab. I rang asking for assistance about this. The guy that answered was telling me it was like a scratchy so that is what I was doing. Eventually I worked out the pin after a couple of days. Staff need better education about the organisation.
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