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Commonwealth Bank Home Loans

Commonwealth Bank Home Loans

1.9 from 148 reviews

Reviews

1.9

148 reviews
5
(18)
4
(11)
3
(4)
2
(14)
1
(101)
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Awful. Try another bank.

published
Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forFirst Home
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A Person

A PersonPerth, WA

Awful bank - don't bother applying

published

I have a joint home loan with Commbank, we have never missed a payment, and without explanation, notice they removed our access to around $1500.00 of extra payments. This is all the while they're saying we will support you through COVID-19, how can we help you,, how can we give you access to more funds. No-one from the Home Loan division will even call me.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forFirst Home
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Winnie

WinnieSydney, NSW

  • 7 reviews

Suspicious Activity - Commbank Interest Only Department

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan used forInvestment Property
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Poonam

PoonamSydney, NSW

  • 2 reviews

Customer service for home loan is terrible

published

Customer care service for home loans on 132224 is terrible. No one takes calls. I tried so many times till hours but never got any response. It was like wasting my time.

Automatic direct debit changes

published
Transparency
Customer Service
Loan TypeVariable Rate
AXIS

AXISPerth, WA

Be aware their plan is to give $2000 bonus & Trap you with initial low then higher rate

published

Initially they will offer you low rate, then either increase or will not pass RBA rate cuts, e,g they not passed 19 th March rate cut at all. also rates are not competitive with market & stupid idea to pay for wealth package for what? avoid if you can. Note they have strategies about how to hold unsatisfied customers & rip them off.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateJune 2015
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NotHappyCBA

NotHappyCBAGreater Melbourne (Metropolitan), VIC

Avoid this bank at all costs

published

Terrible service and home loan management team.
Very dissatisfied.
Right now, while we are all struggling with Covid19, a few big banks had stepped up to offer help, yet this CBA here has done nothing. It hadn't even passed on the interest cut to families.
Too greedy

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forFirst Home
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Ammenz

AmmenzPeel, WA

  • 6 reviews

Would be 5 stars with better rates

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forFirst Home
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Nathalie

NathalieSydney

Update on CBA mortgage

published
Transparency
Customer Service
Home Loans

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So S.

So S.South East Queensland, QLD

  • 2 reviews

Depends on the loan officer

published

First home loan was seamless and closed in 2 weeks. The second loan officer Jessica Wells was terrible . She used my first property as security on the second without my permission, closed an application I had on that property without permission, and told me I needed another 30 k down waited a month for her to come back and say no I needed 80 k down. Went with another lender and now am not out of pocket any more than deposit, would avoid loan officer jessica wells.Thanks to her I will be banking elsewhere too and taking my savings out of commonwealth.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
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Gurpreet

GurpreetSydney, NSW

Wonderful CBA Home Loan Team

published

Hello!!!
Lots of appreciation to Sartaj Singh(Home Loan Executive)for helping me getting my CBA home loan.Thanks Sartaj for your marvellous customer service and helping me getting through all the hurdles on my way in getting pre approval. I would highly recommend CBA
Thank you so much................Extremely happy:)))))

Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forFirst Home
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Karam Mani

Karam Mani

  • 2 reviews

Thanks to CBA Team*****

published

Hi,
I am here to share my personal experience with CBA home loan. We chose Brooker for a home loan but unfortunately, Brooker didn't do good as suppose to be. Then we approached the bank directly just 2days before our settlement. Bank assessment team helped us a lot to get through all that mess created in a file and we succeed in settlement on the due date. Thanks to all CBA team members for cooperation and especially thanks to Mr Emon for making it happen successfully. Mr Emon from the verification team of CBA helped us thoroughly and informed us personally after the loan settlement fixed. Very happy now

Transparency
Customer Service
Loan TypeVariable Rate
Loan Start DateFebruary 2020
Loan used forFirst Home
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Very Sad

published

Have been with commonwealth for 30 years am very unhappy with my loan. They take the full amount of your home loan repayments at the start of the billing cycle if you put into your redraw facility and hold it until the due date WHY? This has only been in for 6 months and is really disappointing. Will be changing lenders ASAP.

Transparency
Customer Service
gemini

geminiGreater Melbourne (Outer), VIC

  • 5 reviews

convoluted process and not customer focused

published

I've borrowed many times from other lenders but home loan experience with the CBA was worst of all.

1) They took 4 weeks to approve unconditional loan though I had a recent a pre-approval from them, very long process.
2) Vey bad customer service you just can't get through phone banking ( even after 90 mins happened 3 times ) for your home loan queries ,visited a branch at Collin square totally unhelpful.
3) Took them 60 days to send me a settlement letter which I asked for it more than 5 times .
4)I would not recommend CBA

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateSeptember 2019
Loan used forInvestment Property
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Ivy

IvyGreater Melbourne (Metropolitan), VIC

  • 2 reviews

Bank that put their interests before customers to gain profits daylight robbery

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan used forFirst Home
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Home Loans

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Tabascolord

TabascolordGreater Melbourne (Outer), VIC

  • 2 reviews

The Fawlty Towers of banks

published
Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forRefinancing
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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 forFirst Home
See all answers

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 forRefinancing
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cpcahill

cpcahillSouth East Queensland, QLD

  • 3 reviews

Very Positive Experience

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateSeptember 2019
Loan used forFirst Home
See all answers
Sale R.

Sale R.Gippsland, VIC

35 year client

published
Transparency
Customer Service
Loan TypeVariable Rate
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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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