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Telling your kids we've lost our dream home
I have banked with Heritage since I was 18, and just recently some amazing family members came to me and my wife and offered to go Guarantor for us to get our first home. They had already approached Heritage and discussed the loan. What amazing people!!! And that is where the romantic side stopped. We went to Heritage met with a loan officer, filled out all appropriate paperwork and got the ball rolling... You are good for $700K they came back and said.
What did we do? Found our dream home, made the owners an offer, they accepted, happy days. ...
This bank is still living in the 19th century.
The online banking portal never lets me log in, despite me entering my member number and password correctly every time. (This is not user error!) It then restricts access for a period of time due to too many failed attempts.
As I couldn't access my online banking portal due to the website's issues, I decided to start a live chat with one of the customer service reps, who then told me that I would need to call their call centre to have the bank statements sent out to me, and there would be a FEE(!!!) to do so.
I don't have a very high opinion of banks as a whole, but Heritage Bank is a joke.
Poorly trained staff (like everywhere else)
Been with this bank now for nearly a year. Hold 4 savings accounts (individual and joint) plus a credit card. Here is the good and the bad.
1. The Good
a. Can have a "real" Joint credit card
b. App works pretty well and quite easy to transfer money (within their limits) and switch between individual and joint accounts
c. In branch staff quite friendly
d. Did a GOOD job when disputing a couple of credit card transactions
2. The Bad
a. Transfer limits are a bit too low for me, requiring going into a branch more than I really should need to or hav...
Absolutely disgusting how they make you wait so long!!
Trying to purchase another house before I have sold my existing home (which I have bugger all left owning on) as I need to be sure we will have a home to live in for my family. Originally we had 3 weeks to sort our finance, I don't know how many times they requested more information! We have literally given them absolutely everything they requested the same night yet they take a week to get back to you again. We have had to ask for a extension of another 4 weeks, we are literally on the last day and no flaming answer as to if we are getting the...finance approval or not! I am so angry, we don't know if we are moving and the vendors of the house we are wanting to purchase don't know if it's still actually sold 7 weeks later!! I tell you what heritage you are going to make us loose our dream home we wanted to buy, and on the slim chance they do grant us another extension and you do give us the finance I will be refinancing again, because no way I am staying with you. You have turned us off buying the house. I earn good money and work 6 days a week, combined with the 2 homes will be 1.5 million in value, I only want to borrow 800k and have 90k left owing. It's a no brainer you would think, they stand to make 600k if I can't make the payments and they take both houses!! Someone there pull your head out of your a@@ and do your bloody jobs and finalise applications!!! I recommend people to stay away from heritage!!
The worst bank lender I have ever ever used
They are painfully slow, incredibly out of date operationally and no one takes responsibility. They change the goalposts last minute when it suits. I will NEVER use them again and can't wait to refinance out and away from this archaic bank.
Slow and no response
I applied for a home loan with Heritage. But the application process is way too slow and they don't keep up to the processing time they promised. They are really frustrating to deal with. I had to borrow money from elsewhere to settle and apply for refinance. Could have lost my 10% deposit if I have to rely on them. Worst experience ever.
They are partnered with MasterCard and Australia Post in the "Australia Post gift card" scam. Straight up scammers taking your money and you don't even have the ability to use it. They are dodgy and have scammers inside the business, STAY CLEAR!!!
Heritage stonewalled for weeks on approving our home loan application, with approval coming in weeks after their started timeframes and a week and a half after the finance due date. It's only through the good grace of the sellers that we didn't lose the house. During this time neither we nor our broker was able to get any information or of Heritage.
When the contract arrived it included almost $4000 in previously undisclosed upfront fees, meaning we needed to scramble extra money to make settlement.
If you're considering Heritage for a home loan - don't.
Appalling stonewalling during home loan application process by Heritage
We applied to Heritage for home loan via a broker. It is now 13 business days and counting to get approval - we are still waiting. Standard contracts in Qld for finance are 14 days (that's days, not business days). The due date for finance on the contract passed 3 business days ago (after two extensions via solicitors had already been granted). Heritage Bank provides no information - about when they will complete approval, who I can speak with about my application, when I can expect a result, or even if there is a problem. We are both employed..., 10% deposit, no debt applicants, with strong credit history. I have spoken to the broker multiple times per day, who himself has spoken to the Business Development Manager (BDM) multiple times a day. The same response is provided all the time by the BDM I.e. "I've done everything I can", which as it turns out, amounts to sending emails to "the credit people" because "I can't speak to them". So here you have a bank where their own staff cannot even speak to their credit department (allegedly). Heritage Bank is now outside their advertised service level agreements for home loan approvals via brokers and continue to stonewall, not providing any advice about when they will finalise the matter. This really amounts to unconscionable conduct - we might not have a loan contract with Heritage, but because of the turnaround time frames for finance are so tight and their stonewalling tactics, we can't apply anywhere else either. We will lose this house as the sellers have made clear there will be no more finance extensions and Heritage Bank will be responsible. We are the ones who live with the consequences of their actions, not them, they just move onto the next person, the next deal. The great irony is the reason we selected Heritage Bank was due to their reported fast processing times. Any person thinking of applying for a home loan or even banking with Heritage Bank seriously needs to go elsewhere.
They get paid whether they help you or not
I called the Adelaide Business Manager to inquire about my " business finance", He said how did you get my number ? I said from your website. He had no clue he was on it. He said " I can't help you" . He said " we can't do business loans", he said " can't 4 times in 10 seconds, favourite word. They need to pay these clowns commission only and they might qualify people a little better. I rang another bank and they said " no problem, we can help" after asking me questions. Massive contrast to the Heritage rep. I am writing to Heritage Head Office now to tell them of my rejection. They don't need your business !
- Heritage Bank
Terrible customer service and approval processes
I have recently been approved for a home loan (note it took two months for full approval which has been taking other banks approximately 2 weeks) and the amount of issues we have had due to the incompetence of Heritage Bank has been insurmountable.
After I received full unconditional approval, Heritage Bank stated the amount available for the land settlement which worked in fine with the loan amount etc. Once the settlement collocations where provided by my solicitor, it came to light that Heritage Bank was putting in less than they originally...
ATM didn’t dispense my money for my daughter’s birthday on a weekend FURIOUS!!!!!!!!!!!
Used a Heritage Bank ATM at Clifford Gardens Toowoomba. I wanted to withdraw $350 for a party for my daughter. The dispenser kept making noises for around 2 minutes. The money was not dispensed I am so angry this has never happened at any atm and I’ve traveled all over the world and used them. If the money is not in my account ASAP I’m changing banks.
Uchoose, vanilla, giftcards,com.au and many others
Heritage bank is supporting merchants such as the ones listed above and many more. I received 7000 in gift cards from uchoose, which are almost completely unusable. ACCC & AFCA have been reported to, they charge fees from 2 months- they aren't accepted, if they are apparently there is a 20% mark up- they also have fees taken out for phoning the "Merchant" in this case is oxygen (global I believe) for heritage to support these absolutely fraudulent organizations who are clearly taking advantage of people is absolutely abhorrent
very bad call centre
i called the call centre to adjust my debit card n she only demanded my debit card number nothing else, whats the point having security questions?? n when i asked how much to call this call centre she said its free but it cost me more than $10 for 2mins call. very dumb people!!!
Branch service is great but if you want a home loan try somewhere else. 40% deposit for an investment property, with long term reliable tenants, that yields an income 30% above the repayment rate is not enough to secure a loan.
Questions & Answers
How can know if the letterhead for agreement by heritage bank is genuine, do you have valid formal for such important papers.?
I applied for a home loan at heritage bank the finance was due on 11 May 2021 , when I contacted them , they asked me more payslip . Luckily the seller grant me an extension for seven days, however, it come to my attention that the settlement is due two days after finance. When I asked heritage bank if I can request an extension for settlement, they told me to not asked,as they can manage to settle in two days. I am now worry if this is just a way of telling me that the settlement will not happen and my application is unlikely to progress for final approval. I feel like it will not be fair if the finance declined, as I have a very good credit score, I have a solid work history: I put almost 30% deposit. I am now stressed for Heritage bank not be transparent with me.
Don’t count on them. I was told the same and they could not keep their promise. Lucky I didn’t trust them.
I am now so confusing, and the finance is just nearby on due date. Is it possible to apply somewhere else @ this stage?
looks like you haven't even got their formal approval. It takes them at least another week to get documents ready after the approval. Then you need to add the time for them to review the signed documents etc. I doubt it will be ready. I was told the big 4 banks can turn it around much quicker but they lend less. Might worth checking out.
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