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IMB Home Loan

IMB Home Loan

2.6 from 15 reviews · View Statistics
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Reviews

2.6
15 reviews
  • Transparency
    1.0 (3)
  • Customer Service
    1.8 (4)
  • Loan TypeVariable Rate (5)
  • Application Process
    3.0 (5)
  • Timeliness
    3.0 (5)
  • Loan used for
  • Loan Term31.25 years
  • Online Tools
    2.8 (4)
Previous
Next
spazmanaught
spazmanaughtSydney, NSW
  • 6 reviews
  • 1 like

Changed account from fee free without notice and interest rate increases just before RBA lowers rates

published

Was going good until they decided to start charging $6 per month out of the blue for the account they forced us to set up with the home loan. They consistently raise the variable rate .10% just before the RBA lowers it .25% then only pass on .15% ..do the math. They don't loose! To be honest I wouldn't recommend using them. The royal commission obviously had very little impact on them.

Transparency
Customer Service
Jon
JonSouth-Eastern Region, NSW

Deceiving and sneaky practices

published
Transparency
Customer Service

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0.0
(1,234)
Butch
ButchGungahlin 2912, ACT

Just okay

published

I have three mortgages with IMB. The application process was fine. The problem is with frequent rate rises and they just appear on your statement with no prior notice. Recently IMB advertised that they are passing on the full RBA .25% rate cut, however what they don't tell you is they put their rates up by .10% just before the RBA cut so really, just .15% was passed on.

Customer Service
Application Process
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Bellaboo
BellabooHunter Region, NSW

Frequent rate rise

published

We refinance with ImB last year and 2 months since we started, rate rise from 3.69 to 3.84 then just checking my online banking rate rises again just before RBA decision of lowering the rates. Now it's currently at 3.94, I'll be expecting rate rise again soon without any reason. I suppose it's a variable rate but for those who are thinking of getting a home loan or refinancing, BEWARE! I will be looking at getting out very soon.

Application Process
Timeliness
rw
rwSouth-Eastern Region, NSW
  • 2 reviews
  • 4 likes

untrustworthy

published

The month after signing up a homeloan IMB increased the interest rate with a made up excuse while still offering new customers the lower rate, some months later another rate rise for no real reason other than to increase profits, some months later another rise to get in before the reserve bank lowers rates.
will be taking my business elsewhere as soon as possible.
BEWARE!

Transparency
Customer Service

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Peter
PeterSydney
  • 6 reviews
  • 3 likes
  • Verified

Great discounted homed loan

published

I got a good discounted home loan rate when refinancing my home. CBA "couldn't compete". Mobile lender was efficient and easy to deal with. They even gave me a $500 cash bonus for sealing the deal. The online account is easy to deal with on desktop or mobile device. I highly recommend.

DCJSPJ5866
DCJSPJ5866Greater Melbourne (Outer), VIC
  • 9 reviews
  • 7 likes

Moved to IMB from big 4

published
Linda W
Linda WAU
  • 4 reviews
  • 2 likes

Great experience transferring my home loan

published

I've been with St George for 30 odd years, since I was a kid. I was always loyal as I felt the service was excellent but the reality is they were nowhere near as competitive and so I've decided to shop around and save myself $500 a month!

IMB have been responsive and personal service by their home lender has been faultless. Very happy.
Now I can afford a holiday every year with the savings :)

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0.0
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Dean5516
Dean5516Campbelltown
  • 10 reviews
  • 6 likes

Poor Home Loan Process

published

I have title on a house. I have 20% deposit with collateral and shares. We have numerous sources of income. I cancelled the loan application as it took 10 days with no feedback. I provided more than enough documents to satisfy the loan. When I made a complete they tried to turn it on me by saying that it was rejected when in fact I cancelled the loan. It was explained to me that they had to factor in rate rises. I simply replied that the rent my house would generate would easily facilitate the loan in addition to collateral and income. Don't be fooled by the low interest rates. That's for people with exceptional finance. My credit score is 801. Stay away from this small time Bank. It tries to punch above its own weight which is very light.

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Emily B
Emily Bmelbourne
  • Verified

Amazing customer service.

published
Grant
GrantSydney, NSW
  • 5 reviews
  • 6 likes

Wasted all of our times

published

After going through all of the documents finding & submitting inc giving them our previous two years' business accounting details, IMB Bank's loan assessor insisted on our submitting the current financial accounting which they know will not be ready in the next 7 month and they have already seen the sales figures (which are better than the previous two years) for the current financial year. And they suggested " if you have to wait for next 7 month to supply your business accounting then you have to re-apply ...": what a ridiculous statement, I regret wasting all of the time with them.

Home loan frustration, poor service, lack of communication,no loyalty to loyal customers!!!!!!!

published

Mortgage interest rates

published

I have banked with IMB for approximately 10 years. I was disappointed to find that if you are more than 12 months in advance on mortgage repayments and are on a fixed interest rate you incur a monthly 'advance' fee. At no stage did IMB advise me of this when I initially decided to take out a fixed interest rate and only found out when I queried the monthly charge.
This is very disapponting as I feel I am being penalised simply by trying to pay as much off my mortgage as quickly as possible and I like the security of a fixed interest rate. I was advised by IMB to break the fixed 3 year rate would cost me approx $2,600 so I just have to hang in there for another 2 years before I can switch to variable.

expensive fees

not a very helpful branch manager

published

i have been banking with imb for three years now at the Campbelltown branch in nsw and have always been happy with the service until i wanted to start saving more money and unfortunately i happened to be served by the manager who was not only unfriendly but could not wait to get rid of me, i walked away feeling unsatisfied and have now travelled to the city branch where the service is great.Thank you to the branch opposite Wynyard station where they have more time for you

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dave57913031
dave57913031AU
  • 2 reviews

Good

published

I have banked with the IMB for approximately 25yrs or long as I can remember, once I was able to get finance for a house`s and what not, I did look around for a better price, some times I used IMB and sometimes I did`nt.
It is nice that the IMB still low transaction fees.
It unfortunate the IMB is not as competitive as much as the Banks

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