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Commonwealth Bank Home Loans

Commonwealth Bank Home Loans

1.9 from 132 reviews

See the Best Home Loans in 2019 as rated by Australians on ProductReview.com.au.

Reviews

Review distribution

5 star
16
4 star
10
3 star
4
2 star
14
1 star
88

Hariram N.

Hariram N.Greater Melbourne (Inner), VIC

One of the best banking service provider

published

After going with a few brokers, thought I need to take things under my control and do it on my own, however, without the Commonwealth bank that would have been impossible. Mr Hanson from CBA has done an extraordinary job by completing the file in less than 1 week (from application to final approval to settle). Its all pro-active than being reactive. He went above and beyond to make this happen. Kudos for the entire team. In fact, all my lost interest in the deal was brought back to life due to his work ethics.

On the other hand, Commonwealth Bank`s Netbank is so advanced and built with an excellent centric thought process. I have all the accounts with Comm bank so far, it will remain the same.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateSeptember 2019
Loan used for:First Home
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terrible service

published

had a loan taken. I had specifically asked for 1 yr fixed , but they fixed it for 2 years which I came to know only after 1 year. Very dissatisfied.

Transparency
Customer Service
Application Process
Timeliness
Loan Start DateJuly 2018
Loan used for:Refinancing
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cpcahill

cpcahillSouth East Queensland, QLD

  • 2 reviews

Very Positive Experience

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateSeptember 2019
Loan used for:First Home
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Sale R.

Sale R.Gippsland, VIC

35 year client

published
Transparency
Customer Service
Loan TypeVariable Rate

JTT

JTTGreater Melbourne (Outer), VIC

  • 10 reviews
  • 3 likes

Absolutely zero customer service

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateNovember 2007
Loan used for:Second Home
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Mahmoud

MahmoudGreater Melbourne (Outer), VIC

  • 3 reviews
  • 2 likes
  • Verified customer

Think before trusting brokers

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateJune 2019
Loan used for:Refinancing
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Salman S.

Salman S.Greater Melbourne (Metropolitan), VIC

  • 4 reviews
  • 1 like
  • Verified customer

Home loan experience in CBA

published

I should admit the best service ever, compared to the Bank of Melbourne and a so-called experienced broker. I had gone to CBA Melborune-CBD RMIT branch to just inquiry about the loan conditions, 25 minutes later I walked out the branch with a pre-approval letter offering me an amount 120 K on top of what my broker could get. The processes are easy-fast-efficient and UNBELIEVABLE. They also topped this up with a free property searching services made it super fancy experience- I got a 4 year extra home loan contract and did not even study much as I trust them a lot.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateJune 2019
Loan used for:First Home
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mikefish

mikefishSYDNEY

  • 2 reviews
  • 1 like

The home lender bent over backwards to help us.

published

Ours was an unorthodox application as self-employed etc, but Mel in Launceston branch moved heaven and earth to make it all happen for us, including suggestions that were to our benefit. Big delays in settlement owing to previous lender being slow or obstructive, but Mel chased it hard. We are grateful for her level of professionalism.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeFixed Rate
Loan Start DateJune 2019
Loan used for:Refinancing
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Olga

OlgaGreater Melbourne (Inner), VIC

Very poor service

published
Transparency
Application Process
Timeliness
Loan TypeVariable Rate
Loan used for:First Home
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Jimmy

JimmySouth East Queensland, QLD

  • 13 reviews
  • Verified customer

Excellent web interface and mobile app, but expect higher rate

published

I had a wealth package variable loan with CBA for nearly 3 years before refinancing to a non-bank lender.

Overall, CBA offers a premium product (good website, excellent mobile app, unlimited offset accounts), however you can expect to pay more for it.

I never had any issues with call centre staff - they were always polite, knowledgeable and willing to assist.

My reason for leaving was merely a financial one - there were cheaper rates in the market that don't come with the $395 annual fee.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateDecember 2016
Loan used for:Second Home
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Das

DasAdelaide

  • 2 reviews
  • 1 like

Terrible customer service

published

Can’t get through on the phone and no one responds to emails absolutely terrible to deal with. Still don’t know if our home loan top up has been approved or not nearly 6 weeks from the application start date.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
See all answers

MB

MB

  • 4 reviews

Don't look after existing customers

published
Transparency
Customer Service
Loan TypeVariable Rate
Loan used for:Second Home
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Masum Billah

Masum BillahGreater Melbourne (Metropolitan), VIC

  • 11 reviews
  • 5 likes

Its ok just ok

published

I had lot more expectations from cba as I've been banking with them for a long time. But haven't had really a great experience for home loan. Yes I got the loan but gee there were so many mistakes and my broker and I were sick of fixing them at some stages. Their call center is the biggest joke of all. Every single time I call them it's a guaranteed 45 min to an hour waiting time to talk to anyone. Certainly you don't expect this from one of the biggest banks in the country. Anyway will see how we go for our subsequent homes in the future.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan used for:First Home
See all answers

Gurpinder

GurpinderGreater Melbourne (Outer), VIC

  • 2 reviews
  • 5 likes

What a crap bank it is !!! Pathetic service

published

How hard it is to get a replacement cheque. With commonwealth it can take up to 3 months thats how crap service they provide !!!! Absolutely disgusted !!!! I will not be dealing with them ever.

Transparency
Customer Service
Rita

RitaSouth East Queensland, QLD

  • 5 reviews
  • 1 like
  • Verified customer

Not disclosing critical information. Do not trust them

published

I took a home loan in 2017 and based on the initial discussions and preapproval by the bank. The bank used my other property as a security against the new loan to which I had not consented. Obviously I didn't expect the contract to change or have my other property listed as a security on the final contract, I signed the contract and when I sold the other property the bank took all the proceeds of the sale.

Do not trust the paperwork prepared by them as they are very deceitful.

I am still trying to work out a solution with the bank since end of 2017 but it's falling on deaf ears. They do not accept their mistake and just want to snatch every single penny they possibly can.

Edwina Hill

Edwina HillMelbourne

  • 3 reviews
  • 3 likes

Show no loyalty to customers

published

I have banked with CBA for decades and have held various home loans with them since 1992.

My most recent home loan is 3 years old. The honeymoon rate is over. When I contacted them the 'best rate' they can offer a current client is 1% more than that of new clients.

Shame on CBA for not rewarding loyalty.

Thank you ANZ for welcoming me and offering me a much better home loan.


Can’t get anything done

published

Charged for things we shouldn’t have been everything we have asked them to do they have somehow managed to stuff it up not happy at all will be going back to ANZ as soon as possible


Anna

Anna

  • 2 reviews
  • 4 likes

Stupid dogs (.we have to find out instead of them letting you know)

published

Stupid idiots at commonwealth bank at mildura langree mall made us fill the wrong form for fixed interest rate, our interest rate kept increasing despite being told it was going to decrease after filling the form. Only to know they have stupid wench and dogs that can ruin damn time and life. I don't damn know who they employ dogs picked up from the street? They didn't bother ringing us to tell us the form was wrong instead we have to ring up and we were told the form was invalid. They really don't employ human beings now says. Don't know why you need the right people for the right job sore loser.


QuratulAin

QuratulAinAU

  • 7 reviews

Home Loan approved but rates changed

published

My home loan pre approval and then my loan was approved without much issues. No unexpected costs were involved and bank explained the process good. The initial rate offered was good but the downside was the rates were increased within a few months of my loan as part of overall industry rate change.


Robin

Robin

  • 2 reviews
  • 2 likes

Home Loan within 4 days. Excellent service

published

Being rejected by Bank of Melbourne after asking for so many additional documents and dragging the process for 4 weeks, been to CommonWealth Bank. There service was exceptional, within just 4 working days from Lodging the applicaton,i signed the loan documents. Thanks alot Jigar Shah and lending team at Hampton Park Branch.


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Questions & Answers

Kelly

Kellyasked

What is the average home loan processing time with Commonwealth? My application through a broker has been in 2 and half weeks now and no news at all, last request for paperwork was 8 days ago?

1 answer
Sean
Sean

You should contact the bank lending manager who is dealing with your application directly. Mine took less than 2 days to get full approval once I gave him all the required documents. Has your loan been conditionally approved by credit team? I know that Commbank conditional approval is different from other banks in a way that it goes through full credit check and income check.


rickl

ricklasked

Commonwealth bank staff sent me an email July last year to inform the home load will increase from August and ask if consider to fix the loan.
I fixed the home loan per the information provided by the bank. However I found it is mistake to do so as I have a offset money which I though to pay a matured account in August 2015. However, the loan does not mature until August 2016. I told the bank to fix the loan was a mistake and asked for correction. However, the bank said it has to pay a big money to break the fix loan and refuse to do any compensation.
May I ask has the bank done the right thing? I feel the bank is cheating as the interesting is going low from last year. The bank did not check my account details which they should.

3 answers
David Lambert
David Lambert

Short answer is no. They haven't looked after you like they should. You could try and see what they can do but don't hold your breath. You could then try the banking ombudsman in your state.
David

rickl
rickl

Thanks for the valuable answer. I will further trying to resolve the issue with commonwealth bank. If commonwealth still refuse to help, I will seek the help from ombudsman.

mandymoo57
mandymoo57

"...ask if consider to fix the loan..." - they advised, they asked, IF YOU would consider. Obviously, you considered, then did - where is the bank error?
If your money was in an offset there is NO reason you wouldn't have been able to get the money out even though the loan was fixed. If the money was actually held in a redraw, then you can't redraw until the fixed rate expires. Did you fix the loan online? If so, I suspect you didn't ask anyone about the pros and cons of fixing?


Vik_Dogra

Vik_Dograasked

which bank is the best one to go with for home loans?
Need and honest and quick reply, help will be highly appreciated.
Cheers
Vik

2 answers
vbhargav80
vbhargav80

Since you're an IT guy, I'm sure you can do most of your stuff online and won't get flustered by lack of personal service the big banks provide.
Have a look at loans.com.au, they are quite good with their online only service and certainly one of the cheapest around if not the most cheap.

engagefs
engagefs

Hi Vik as a mortgage broker I would definitely encourage you to seek professional advice as there are so many options and good offer from lenders at the moment.


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