Homeloans Ltd

Beware of this bank for home loans – Terrible customer service, was on extremely high rate for 1 year when tried to change banks to over 5% lower rate had to wait 3 months from when discussed and applied for. Nearly lost other banks offer. Rang constantly for updates and kept being told its in hands of there solicitors who were on holidays, cost 2 months of extra payments and fees.… Read more

Why another solicitor in office couldnt just sign a peice of paper is beyond me. Beware this bank they are not honest and dont let you leave ultimately costing you thousands.

Worst company I have ever dealt with – Stay away from this company, worst dealings ever, poor performance, don't return phone calls, they are happy to give you a loan but try and get out of it. 3 months to try and refinance hit you up with a exit fee and then keep putting off settlement dates because they like their long lunches and don't care what happens to you,

Paper fee ripoff – I paid off the balance of the loan account over 3 years ago and assumed there'd be no more charges. Somehow they stuck in a $2 'paper fee' for a statement that should read 'zero' in the debits column. To make matters worse they charged it twice: one for the copy sent to me and one sent to my wife (we live in the same house!). By the time I was… Read more

aware of the fee (I just filed the statement without looking) it had amounted to $22 including interest. To extinguish the mortgage loan completely I'd have to pay a Discharge Administration Fee of $535, a Custodial Fee of $121, and the paper fee itself.

I hope they expand the Royal Commission into all financial advisers and lenders.

Ripoff unrealistic fees – I did not take my loan with Homeloans Ltd, They purchased the company that my loan was with so I was unwillingly stuck with them. Throughout the term of the loan they were always about 2% dearer than the major lenders so I paid off my loan as quickly as possible. Approx. 8 years. However, I could not get my title back, as I refused to pay their… Read more

ridiculous discharge fees, which included a large bonus payment for them on top of all the standard fees that others charge.They insisted that these fees were clearly stated in my loan contract. This was not true as my loan contract was with another company "Access Homeloans" whom Homeloans Ltd. acquired. Access Homeloans like all other reputable financiers, charged no such fees. It took another 8 years of bitter argument and a year of negotiations with the Financial Ombudsman before I got the mortgage discharged and my title returned unencumbered. Pity you don't have option of 0 stars!

I agree with Chris, As a last resort only.

Stress free - great result – My partner and I are both self employed, so had great difficulty securing a mortgage – until we came across Homeloans. We had spoken with the banks we have our business accounts with, we’d spoken to a couple of brokers, but we were told we were too high risk – even though we had money in the bank, had both been in business for over 10 years and… Read more ·  1

were probably more low risk than many employed people. Unfortunately it was just after the GFC and a lot of lenders were quite wary.

A friend recommended that I contact Homeloans, and from the outset the customer service was excellent. The loan guy we dealt investigated a number of options and made the process stress free. Of course we had to provide a lot more information than those on a salary, but at all times we were kept informed as to what was required and why. Homeloans secured us a loan at a very good variable interest rate, and we were ecstatic. They were professional, friendly and very thorough.

We would have no hesitation in recommending Homeloans. I’ve had mortgages before and dealt with ‘faceless banks’, and there’s no way I would be enticed back. We were at our wits’ end until we found Homeloans. Now we have the property that we wanted, and we’re not paying an interest rate premium. Stress free, friendly customer service, helpful

Never had any problems – I have been with Homeloans for a eight years so I know the organisation pretty well. I’ve certainly never had any problems with them, but I do find that usually the first person that answers the phone can’t really help me, and although they try, invariably I end up with someone else who can. I would prefer I could talk to the right person to start… Read more

with, but its never a major inconvenience.

We are happy with our interest rate. I don’t feel it is as low (comparative to the market) as when we first took out the loan, as especially recently when the RBA has cut rates, Homeloans has not cut its rates by as much. But then again all the banks are the same so whats the difference. I don’t feel that Homeloans have increased their margins by more than anyone else.

I should point out that our financial adviser (who does not work for Homeloans) suggested I write this review. He said generally people only write reviews when they have a really bad or really good experience, and that we should get in the habit of sharing all our experiences. So to start off, today I’m writing about Homeloans, and I would not hesitate in recommending them.

call centre staff not that knowledgeable

Absolutely terrible, never again – After almost 7 years with Homeloans I sold my house. As it was a packaged deal (Homeloan, line of credit and credit card), after settlement all accounts were removed from my online banking, then 2 weeks later I received a letter from a debt collector for owed funds for credit card. I was happy to pay what was owing but Homeloans never gave me a… Read more

chance to pay then forced me to pay the debt collectors fee on top of what was owing. When I rang to pay I was told they would ring me back the following day to tell me the amount, I still have not heard, I continue to ring them only to be told the same thing... they will not let me pay it out so looks like it will make a mark on my credit rating.. absolute rubbish of a bank

Experts in delays – My experience with Homeloans is not dissimilar to those already documented. The team deserves a medal for the number of delay tactics and conditions it has managed to enforce on our unconditional loan. My advice to anyone using Homeloans is to ensure you are ready to settle with a minimum of 1 month up your sleeve to deal with their box ticking… Read more

policies, excuses and delays. Delays may include:

Contacting your broker on the day of settlement to inform you that your valuation has expired.

Asking for credit checks the day before rescheduled settlement.

Excuses about inability to get sign off from management who where interstate and in a ‘meeting’ on the day settlement despite having all required documents 3 days prior.

Unable to write a cheque despite instantaneous finance transfers.

...lots of inexcusable excuses for what seems to be complacency and disorganisation on their part - completely disrespectful.

It is no surprise that they neglect to provide telephone contact for inquiries as I’m sure they would be under constant pressure from disgruntled and dissatisfied customers who deserve a far better service.

Satisfied Customer – Homeloans delivered efficiently and delivered to us what was promised, on time and without any complications. We are extremely grateful to of had the representative whom looked after our mortgage from Homeloans, professional, calm and pleasant to deal with. Thankyou, regards Dan & Tanya Borg.  Show reply

As a last resort only - absolutely crap service and systems – Went to this company as a last resort for an investment loan refinance. Settlement was fine, issues have arisen regularly since - constant email notification, no phone calls - tried to call numerous times, stayed on hold twice for 20 mins plus only for them to hang up on the call when the contact centre hours closed. Never thought it mattered which provider you got a loan through, Honeloans.com has proved the exception....

What a joke – This company gave us conditional approval subject to property valuation which was fine. We told them i was working on casual basis from day dot, but working fulltime hours which was backed up with payslips only to be declined because i was casual. If you can make sense of that let me know and to waste over three weeks of our time. STAY AWAY.

Organising settlement is a joke! – I am trying to organising settlement of my current loan and was advised on Friday I would have my discharge forms to my via email by Monday morning. So I organised an appointment with my solicitor for mid morning on Monday to then find out it would take 48 hours and that wasn’t even guaranteed as the funder was taking longer than usual to send… Read more

them thru. The settlements officer at Homeloans was also cc’d into several emails leading up for weeks and obviously has not done anything. Now settlement is looming and now have to extend. Would not recommend them at all! Worst customer service and now is costing me unnecessary costs due to their poor information provided and lack of service.

Excellent, highly recommended – just received formal approval on an investment property loan. My case was far from straight forward however Robert from homeloans was absolutely outstanding and made the whole process so much easier. He even organised landlords insurance for the upcomming settlement. thankyou again!  Show reply

Quick and easy refinance! – Refinanced our previous loan from 7.5% to a fixed 4% for 3 years. Process was quick and easy. Unlike other times we have experienced!! They didn't even want bank statements! So far we haven't had any dramas, we receive regular communication with the company and the online banking is easy to use. No problems!  Show reply

Terrible customer service – Initially my dealings with homeloans were hassle free. More recently it has not been the case. Annual fee taken from account forcing a late payment which is then a bad credit mark against my name. I requested direct debit to be set up on my credit card, forms were never sent out. Request of statements, advised 48hrs to email, this process took 5… Read more

days. After several calls staff attitudes towards me were rude and arrogant. Staff lack product knowledge. Calls not returned. Told I couldn't speak with a particular staff member, the only one who seemed genuine and competent in her roll. I'm shocked and saddened by the lack of assistance and by the way staff have treated me with my inquires and because of this level of arrogance and incompetence I am leaving this lender. I have sought assistance from a broker who advised me "we don't deal with homeloans.com.au".

Stay Away – My lending people used these people as a broker, absolutely dreadful,constant issue with call backs, staff mostly rude and when told so, got very miffed. Happily paid my loan off and, when I did so, received a copy of the payout in black and white! Didn't even give me the courtesy of a congratulations or the common decency of a colour payout figure, just a piece of paper photocopied and put into an envelope. Once bitten twice shy.

Can't find a better lender than these guys! – I used Homeloans Ltd and they were fantastic Fees were minimal and process was painless! I refinanced from Click Loans because their after sales service is poor. Homeloans staff are friendly and knowledgeable. Very impressed with Homeloans and my broker, Bradley Witham  Show reply

High interest rates even higher fees – Just received notice of a $300 a year increase in fees to go with the 1.5% higher than average interest rate. Can't think of anything good to say about them, avoid at all costs!!

Good – There are good in online access and informing the changes regards our account. The issues some times I have when I talk on the phone need to wait quite a bit of time on hold  Show reply

Would be good to be on the lowest rate - I have 2 loans and 2 different rates, both variable – I understand there are conditions but do hope you can review and reduce the other loan to the lowest variable rate, thanks  Show reply

The bank who works for real people! – We found Homeloans very easy to deal with and they treat you with respect and "humaness"! We wanted to buy a property that needed substantial cleaning and renovating. We tried to raise a mortgage with our current two banks, and they would not loan to us. We could show the buy price, the renovation cost and the final value of the completed house.… Read more ·  2

Homeloans was the only bank who looked at the numbers and could see this was a good deal and approved our loan. Homeloans offer a fantastic rate on their credit card, which we were thrilled about. We are delighted with Homeloans and we have stayed with them instead of refinancing with other banks for lower mortgage rates.

Signed by delighted customers,

Stuart Pegg and Marama Tau

Homeloans exceeded my expectations – I recently extended my home loan to get a new kitchen. They were wonderful! The service was friendly, professional and efficient. All my questions were answered in a timely and simple manner and I felt that they really looked after me. I would happily recommend them  Show reply

Modern financial investing – Homeloans has been organising the finances on my properties, managing my salary/cash flow and all from across the other side of our continent. Communication is excellent, their broking skills are up there with the best and they always do what they say they are going to do, always .  Show reply

Excellent service and very helpful – My first mortgage is with Homeloans and I could not ask for a better experience. The staff have been supportive and informative throughout the application process and I have not had to wait long on the phone for a staff member to take my call. All questions and concerns have been solved quickly and to my satisfaction.  Show reply

discusted – homeloans is the worst financial decision I have ever made! I have sent the ceo, financial ombudsman, Homeloans ltd and the broker western pacific all letters about how bad things are, but no real outcome. Loan set up was all done with an off set account money was in the off set account waiting for me to withdraw as needed. in reality no off set… Read more

account provided and as stated in another previous review they play by their own rules. If I want to break the loan I have to pay for their incompetence (thousands). The multiple resigning of contracts because of their failures is up to 5 times( I have now refused to sign anymore). My advice is run run far away from Homeloans Ltd. Also expect insurance companies to harras you with your details forwarded by homeloans

BE CAREFUL – Be very careful of this group and their brokers, ensure you obtain all documents especially the actual "application" do not accept computer generated documents which are about loan repayments rather than the loan application. protect yourself and your interests, This has cost my family 3 years in legal battles because of dodgy broker and the company protecting him - go direct to the bank is my suggestion and good luck.

Always a great experience dealing with Homeloans! – Easy, not transaction, options presented to suit my requirements, my account manager was helpful in assisting me in making the right decision. I was very grateful for the reduced interest rate as well.  Show reply

Good for building a home – We are currently building a home and have recently got a loan with Home Loans through our mortgage broker. The initial process was good - our broker did most of the work and now Home loans handle payments to the builder during each stage of buiding. Its early days but we're very happy thus far.  Show reply

Disgraceful – Absolutely terrible, interest rate drop good news hey! Not this mob even though I received a letter to say they were passing it on, for some reason I have to ring them to request it !?!? Otherwise we stay at the same rate. And yes I am "confused"as one your colleagues told me when I rang to see how much our monthly payment will be. But you sent me… Read more

a letter I said , yes but you still need to ring us to request it. Spoke with an internal broker about refinancing his attitude was do what you like if you want to go elsewhere we basically don't care. Asked to get a loan payout figure the letter starts off basically with how dare we go elsewhere,then by the end of the letter they were asking me to ring them to talk to them first as they do listen. Please go back to read about my conversation with their internal lender. Don't know who is in charge of Homeloans ltd but they must be away, because the kids are running amuck and playing by their own rules. See ya Homeloans ltd.

Stay clear of Homeloans – Hello [Name and contact details removed] You really don’t understand what your company put us both through! We are just a number and were treated that way, the letter sent out regarding the discharge of our loan from Homeloans was threatening and downright rude. The stress that letter caused was not warranted and no one else should ever… Read more

receive a letter like that, Homeloans should take full responsibility for their actions but as you state in your email below you won’t.

Through the life of the loan that we had with Homeloans, not once were we contacted by yourselves to refinance the loan to take advantage of the reduced interest rate. Only once we signed the discharge form did my wife receive a phone call from Homeloans offering a better deal on our loan, and to reinstate that we will be charged with heavy exit and discharge fees ($2,935.80 exit costs and $295 discharge admin fee).

We were never advised that the loan repayments would remain scheduled until settlement even though a final settlement amount was agreed to by Homeloans on which all cheques were drawn upon. This might seem as a regular process for you but neither myself or my wife work in the finance industry. I work in the media and I am quite sure that you wouldn’t understand the processes and protocols required in my industry.

Not once did you allow negotiation for the exit fee, but now you are offering $1000 over our complaining to the Credit and Investments Ombudsman.

Repayment of the direct debit should have been instant not 12 days!

We are mortified by the actions of Homeloans and the way we were treated.

I’m sure you would understand friends and family have been told to stay away from Homeloans, the treatment of your customers should be paramount but reading up on the net we are not the only customers unhappy with your company!

I will pursue damages for the stress you and homeloans has put my wife and I through

Good Day!

Michael

Cannot recommend any more highly! – My husband and I would love to leave some positive feedback for Donna Stokes in Secret Harbour. On two occasions she has provided remarkable service and has achieved results we could only dream of! Her positive outlook, quick responses and extensive knowledge of available homeloan products made our process feel effortless and easy. Remarkable… Read more ·  1

really, considering our complicated situation. For that reason we highly recommend Homeloans in Secret Harbour if you are in the market for a new home.

The easiest online loan application – The process of applying for a loan was the easiest and least complicated I have ever experienced. We had a great home loan rate and the customer service was exceptional.

Disorganised, poor customer services and no option to provide meaningful feedback when problems occu – As a long term customer of Home Loans Limited I feel I need to provide feedback about the poor experiences that I have had with Homeloans Limited regarding refinancing and looking at options to re-invest, Many of the negative feedback below from other reviewers is a common thread with Homeloans Limited. Home Loans Limited say that they receive… Read more

97% of positive feedback. At no time throughout the process have I been asked to give feedback or complete a survey. They should provide options for customers to give feedback to the company so Head Office can be aware of the dismal performance of brokers and staff. Some of the issues that have happened to me throughout the loan application process are common issues that customers still experience. Highlighted below are many issues that I find worrying about the performance and accountability of Home Loans Limited. Do they really know what goes on in broker's offices or in their own offices?

1) Broker puts in writing the amount that you can borrow. Communication between client to the broker confirming the amount of money that can be loaned for investment purchase, based on valuations. This is after paperwork has been submitted for the processing of the loan. Confirmation is requested for loan figures offered by the broker as an offer on a property is imminent.

2) Offer made on property and accepted. Home Loans Limited credit contradicts amount available. The figures were no where near accurate or matched the figures provided in writing by the broker. There becomes a shortfall in the loan amount available for purchase of investment property. Despite valuations being done weeks ago.

3) Querying why the figures given to client were incorrect, is virtually impossible. Questions are ignored by the broker.

4) Client becomes frustrated and wants some answers. Speaking to numerous staff at Homeloans as broker does not answer emails. Staff outside broker's office cannot understand the actions of the broker.

5) The loan application has been with Homeloans Limited for many weeks. Valuations were delayed because of an administration error and lack of communication between brokers office and client.

6) Client not happy about being given incorrect figures. No resolution to following up why this occurred.

7) Poor customer service continues. Client decides to continue with the loan application and use funds for other purposes from equity. This has been up to 5 weeks from the initial loan application submitted. Broker assures client that it is already to go and funds will be available before Christmas.

8) Client contacts broker to find out when funds will be available. No response. Client rings head office. They say that the loan has not been processed. Much to the frustration of the client. This is despite 2 paid valuations and paper work submitted over 2 months ago. Homeloans say it normally takes a couple of days to process a loan.

9) Broker contacts client to say the loans is nearly complete. Excuses are made for administration errors and short staff etc.

10) January 2015 still waiting for my money.

If someone actually looked at the process and stuff-ups in this experience they would be concerned that these practices are allowed to go on at Homeloans. Where are the opportunities for providing feedback for clients?

This process have been embarrassing for Homeloans and the client.

Difficult to deal with and poor customer service – I just found it so frustrating - they were rude and abrupt and never followed through. If I wasnt trying to refinance because of better rate elsewhere then i guess they would have been ok but they do not offer the best deals and i find that trying to contact them is wasting time they failed to call back or respond by getting a broker to call me… Read more

who then could not be contacted back. There was not a great deal of knowledge with their products and it took me to try and follow up with them continually to be able to speak with someone to address the issues. I wouldnt recommend them to anyone at this point in time. I think the whole ordeal will end up costing thousands but it may be worth it to just be rid of them.

Poor form homeloans - you obviously don't really care about the hardworking people out there

I would never recommend to use this company again!! – I have started the loan process with Homeloans Ltd. At the beginning it was fine and looked very promising, but then all the lies came out. The broker told us that our loan has approved by Westpac and in reality it was not, he just lied to me and didn't put any application. The customer service is poor, you can't speak with the broker in order to… Read more

get update about your loan, they never answer it. I am so disappointed from all this time that I have lost and recommend you all to read reviews before starting an application with a broker, they all sound very nice, but it is all lies. I also recommend to use one of the big banks for your application, they will offer you better deals. Finally I went with Loan Market with the best broker that made my life very easy. Our loan was approved after a few days.