Homestar Finance will be offering a $30 Coles Myer voucher to customers with newly settled loans, to encourage them to write a positive or a negative review starting from March of 2017. It is possible that reviews were written by customers who received such a reward.
Awesome rate and service!
Lowest rate on market for my apartment! Can't be happier with what I got! Waiting for RBA cut to be fully passed on now. Good job Rick and Ash! Thanks
I have been really happy with the communication and service during and after the application process. I just found out they are passing on the recent rate cut, so I am very pleased to hear that.
They don't pass RBI interest rate cuts to existing customers.
Just 2 months after taking a home loan with them, RBI cut the interest rates. They've decided to not pass it for the existing customers. Very Greedy. Even big 4 banks did it.
thought id finally found my "forever " mortgage. Im shocked and disappointed that my great rate will now be eroded due to HOMESTAR hovering up my rate cut. I will begin my search for a new mortgage today. This is the reason i left my previous provider . Its not just the cash its the principle !
RBA cuts not passed on.
Whilst their rates are reasonable, dont rely on future rba cuts to be passed on if you are an established customer. Very poor they have failed to do so. Others now with better rates so will be moving.
A happy customer
The best rate and hassle free service
I refinanced my home loan through Homestar in Dec 18. The process was very smooth and customer service was excellent. Thank you Stefan Donevski. It was a very good experience.
RBA rate cut today but my variable homeloan rate has not changed !!
I refinanced with Homestar Finance on 3 May 2019. Following today’s RBA’s rate drop, I’m surprised to learn my variable interest rate has not dropped even though the published rate for new customers on their website has!! What’s going on??
Simple, Low Cost Home Loan
Original Review - May 2019
We refinanced with HomeStar earlier this year. The product is simple and low cost, with a number of limitations that go along with it that are easy to manage as long as you are aware of them and have other banking products to fill the gaps.
A few key points.
>Great interest rate
>The the loan splits (and corresponding offset accounts) were all set up and work great.
>We applied in late January and settled in early March.
>The debit cards didn't arrive until late May, needed two reminder calls (about a month apart) before they were finally sent.
>The Online banking interface is extremely basic, isn't always available and doesn't support exporting the transactions in any way. (I have worked around this with a chrome app called "Data Miner" to scrape the transaction page)
>Neither the home loan, nor the offset accounts support the New Payments Platform (eg: Fast Transfers). Online transfers sent from ING and NAB will fail unless they are forced to use the old transfer method. (eg: You need to set up scheduled transfers for the following day) Once you get used to the extra time needed to get money in/out of the account, this is fine.
Great Rate and service
Great customer service. Ghada was very informative and helpful. Most of the communication was done by email. This suited as it gave time from busy work days to complete the process during the evenings and weekends.
Refinancing to a great product
With a bit of savings at hand, decided to look for a better mortgage deal with an offset facility.
Homestar came top in a few searches and we decided to trust Canstar. Great rate and offset account was the key sellers for us.
Started the process and that went smooth.
Our case was handled by Patrick and he gave us frequent updates with reasonable assessment as to the time needed to complete each stage.
Settled couple of weeks ago and quite happy now looking at my new mortgage account with my money in the offset account working to our best advantage.
Thanks Patrick and thanks Homestar. I hope you keep your rates always in the best competitive position with the expected rate cuts.
Unbeatable Rates & Customer Service - Well done HomeStar
Was very sceptical to begin with, believing there was some sort of catch but have been proven wrong. Great job by our customer service rep who went above and beyond even after the NAB forgot to disclose some very important information on settlement day which delayed things considerably but HomeStar waived our fees, restructured both of our loans & give us unbeatable rates. Yes, process was a bit lengthy, but very transparent and lots of guidance given along the way. We're very satisfied with everything.
Refinanced …. wow that was hard work
We decided to restructure and refinance our home . Looked on Canstar and HomeStar came out looking good. The process was certainly nowhere near is simple as it should have been . Our consultant went on leave for a few weeks and we didn't know. Nothing was done while away. Only half the information was requested and assessment team request more info taking more time . It eventually was approved and settled. Paying someone to verify your ID is a bit rich especially when they make it very inconvenient.
Now it is settled all seems to be going ok . Please be aware the process with Homestar was not a quick or simple one but they have rules to follow and I am hoping we made the right decision to go with homes star . Rating would be 3.5 if I could do that
Great interest rate need to improve their contact turn around times
We recently took a loan with Homestar based on the great interest rate. Everything has been excellent until a few months ago when we found the house we wanted. I emailed the person I had been dealing with to receive a response they are away on leave. I contacted the person who was replacing my contact and they were not available either, except they did not have an out of office set up. It wasn't until I called the next day that I found this out. After the call, we were allocated a new contact person. Another area of improvement is recording of documents, I was asked to send through documents which had already been sent but they could not find.
Some people may not like most contact is done via email or on-line banking, but this suits me perfectly, it would be good if Homestar created an app like most other lenders.
Aside from these minor issues service has been excellent, product is great and any changes we made have been completed promptly. I would recommend HomeStar.
Very good experience so far
My home load refinance is scheduled to settled tomorrow (15th May 2019). So far experience is very good. I expect the same experience after the settlement. Well done Patrick for your proactive steps.
Competitive rate and minimal cost to refinance
Rate offered was best in market. Cash back offer on refinance resulted in minimal cost to transfer. Customer service was good and responsive, with step by steps guides to complete all the necessary documentation.
Nothing they said was true
Told by Homestar my pre-approval application would take 5-6 days: started application 9 days before auction. The asked for a ridiculous amount of documentation. 4 days before auction Homestar told me I could only borrow $100k less than I asked for based on capacity to repay. I’d just like to say I earn a good wage; have little debt, have been employed in the public service non stop for 20 years and was only borrowing 50% of the value of the property: I asked them to progress my loan at lesser amount; they asked me to get my ex-husband to lie in a stat dec. An hour before auction got a text saying approved for $50k more than asked for. 6 days later after I successfully bid for the property said that my loan was rejected. Made me jump through hoops for no reason and lied to me. Your loss Homestar, you could have made a lot of money in interest, instead you’ve got another negative review.
Happy with the service, Have had no issues
Found out about Homestar on Canstar. Although I was happy with St George bank they could not come close to the interest rate Home Star offered for home loans. Within starting the loan process to refinance, Jenny Hampshire was a very good consultant, keeping me updated and acted quickly to forward the necessary documentation I provided for the loan. I was impressed they organised settlement within 4 weeks and got settlement on the week in April with only three days due to two public holidays being in that week.
My internet banking is all set up, with no problems, with weekly transactions of principle an interest. I have not received my debit card though, however I just got a letter saying it will be withing 5 days. The internet banking is not as advanced or flashy as the St george internet banking, but it is simple to use and does what I need for my loan.
Happy with the service and interest rate.
Low interest rate and very professional staff
The overall application process was smooth. Offers very competitive interest rates. Very friendly and professional staff always ready to help. Will definitely recommend to others who are looking to re-finance.
Incredible service, super helpful and great value
I was blown away by the service that Patrick provided during the incredibly easy loan application process, especially given that Homestar also has the lowest interest rate on the market.
Refinancing with Homestar
I have just refinanced with Homestar and have the following comments:
- The service to assist me with the refinancing process was decent however the process was fairly arduous and I feel I was mislead on the overall cost of refinancing. The fees involved were about $360 higher than expected and that doesn't include the costs for both my partner and I to do our VOIs. Had I been made aware of all these costs I probably would not have refinanced.
- Settlement was yesterday and I've made a few enquiries about the home loan but have not heard anything back yet.
- I hope the interest rates stay low and any RBA rate cuts are passed on so I stay with Homestar long enough to make to make it all worthwhile.
- In general the product appears to be a good one so although I'm not particularly happy at the moment I'm hoping this changes.
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