progress is slow
The process started in Feb 2018 and still going on, a few issues we have been facing:
My spouse online verification on Lendi's website for her driver's license and photo had to be done a few times up to the point of frustration dealing with it, whilst my driver's license/photo verification were completed one time without any issue using the same online portal. They said it was their website issue but it was not a good experience my spouse had to do this repeatedly.
Then they sent an email that the Lender needs to do another verification...(passport and driver license) for both of us which using the ZipID facility which a TOLL priority person would come to my place. We had to be home to do this because they needed to see us while they checked our passports and driver licenses (again) and took a picture of each person. We thought this would be the last requirement they needed us to do. Then they emailed me that the lender needs to have statutory declaration from both of us confirming that we are the same persons who sign the lender's declaration confirmation and privacy consent form / lender home application and driving licenses. The good thing of Lendi is they keep us informed every step of the way but I wonder when this is going to settle. The things that frustrate me that they did not give us information of documents necessary to provide but they asked us to supply documents, one after the other which they could have informed us in the beginning, so that we can arrange the time to do this as we are both working during weekdays. At the moment, we both have to spend time to make an appointment with the Justice of Peace for Stat Dec signature witnessing. So much pain to deal with them.
Disappointing - But got the job done.
You're forced to rush everything, but their end is quite slow. We were not kept up to date with the process or developments as they happened unless we specifically asked them. Communication and explanations were poor. They asked for $15,000 higher loan than we needed which we struggled to get approved. Really important tasks which needed doing earlier were not even mentioned until toward the end of the process, then we were forced to rush through the process at our own expense. It seemed very straight forward and easy at the start until we made a commitment to them, then it became quite a stressful experience.
Loan product has turned out OK. Duration from Approval to Settlement was drawn out.
Loan product that was recommended has turned out to meet expectations. Which is gratifying because I would have been disappointmented after the struggle to get from Approval to Settlement. It was four weeks from initial product selection through to approval and then another four weeks from Approval to Settlement. The ZipID identification process seemed good but was a little clunky in practice.
Alyssa the inital broker was very friendly although the analysis provided wasn't always spot on. After approval various people at Lendi lost the thread in getting through to Settlement. I had to explain the same thing to multiple people and sometimes the same people!
But we got there in the end!
Good interest rate but very slow
I have done many transactions with various brokers but found Lendi to be very slow. Even at the pre approval level they were slow to offer a lender and mine was a refinance.
feedback with changing our home loan provider
It was a long process and i will recommended that maybe few changes that needs to change to speed up the process. It was great and a better opportunity for us to find a better bank that can offered us a lower interest rate and thank you very much with the help from your company.
Crisis narrowly avoided
I am writing an extended feedback form directly to Lendi that details the exact occurrences but in essence, the Broker i was originally assigned and the subsequent replacement Broker led me down a financial lending path under false pretences that almost saw the collapse of my loan application. It was only through the fine work of my current Broker at Lendi, [name removed], that the situation was salvaged and i was able to settle my property. I would only recommend Lendi if there was a guarantee that [name removed] would be the Broker, otherwise i would not recommend Lendi to any of my friends or family.
I used the lendi calculator then had a phone call from a broker the next day wanting to set up a loan. Despite telling the broker that the timing is not right, he assured me he could do a good deal, progressed, and had me upload a stack of documents only to never contact me again. I called him, then he assured me, telling me he had family issues and would call back. Never did call back despite messages left.
OK but seemed lack of competency
End result was satisfactory but a long & mixed journey to get there. Staff were contradictory to each other, documents left to last minute, often felt like multiple people were not knowledgeable in their role or of our case. A lot of room for improvement.
Home loan refinancing
Samantha Casey, Victoria Dixon we’re very professional and handled every query with such a very helpful and friendly manner I would recommend these ladies to anyone looking for a loan
Initial contact to source a loan were dealt with in a friendly and professional manner (people are nice in an obvisouly sales driven environment). Now that the loan process is complete, we have multiple emails and calls not returned, questions unanswered, and a builder who has stopped work due to unpaid invoices on the construction side of the loan (poor communication between broker/bank). Will not be using Lendi again.
Process was OK
The initial contact and process to find a good loan and rate was very good, but the subsequent process was only OK. I needed to request updates frequently on dates and status etc, and the "tracker" on the Website that provides the status of where the loan was at was never updated (constantly remained on "finding loan" when I knew settlement was imminent.
Very lengthy process.
It ended up being a very drawn out, 2 month process from start to finish. Unfortunately this left us extremely frustrated throughout. I must say though, the new interest rate Lendi secured for us was great...a whole 1% less than our previous rate and this will save us a lot of money each month. We are very grateful for that, so thank you Lendi for the savings we will now have.
The Stress Not Worth it
My dealings with them started in May 2016 after I viewed their website to look at financing options for a duplex development my wife and I were considering. A couple of days later I received a call from one of their brokers who was interested in helping with , not only that project (a potential new loan) , but also refinancing my existing mortgages consisting of my own home and 2 investment properties.
I was reluctant to talk to these people but the chap seemed a decent fellow so I decided to let him go through the process of valuing my pr...operties and go to the market in search of a good deal for us. After too-ing and fro-ing between the brokers two recommendations (one being that I move to a competitor bank and secondly that I refinance with my existing bank), I decided to stay with my existing bank and was subsequently (3-4 months later) advised to go to my local branch to sign paperwork . While the broker did manage to save our interest costs the following issues were subsequently discovered which I believe were due in most part to the brokers failure to communicate effectively. - I understood the paperwork to be signed was in respect of my new loan request but it later became apparent they were for the refinance of the existing loans . Having never refinanced a loan with the same bank before this was all new to me so assumed that the bank would simply reduce the rate on the existing loans without the requirement for new loan docs. I also received a congratulatory email from the brokers firm once approved which further reinforced my belief this was the approval of the new loan. Why congratulate a customer on a loan they had already had approved some years prior??....Lack of communication - The paperwork was initially prepared for P and l loans when I specifically requested interest only. This resulted in a 3 week delay getting new paperwork prepared. While that may have been mostly due to a bank internal issue, the broker should have been across the paperwork in the first place to ensure it was in accordance with what he had requested. - On going back to the bank and signing the new set of docs I discover that the broker had not even bothered to apply for the new finance . All he had done was simply refinance my existing loans !!.
Very slow and had to ring to chase things up. Asked for things that should been asked for initially. Cost me money
I was really happy with the service i got from Michael but i did find the wrong info that i got from therese and her late or none reply to my email or txt very disappointing but again Michael got back involved when he noticed that i was getting a bit disheartened a very pleasant young man
Overall not too bad
Sometimes difficult to get in touch with the relevant people. Overall process took too long, however the end result was a success.
I did not have a very pleasant experience with Lendi, the customer follow up at the application stage through to the documtation stage was below standard. The application process was drawn out and I was regularly calling to find out its progress,and often not called back even after leaving a number of messages. When after over a month, after threatening to go elsewhere, we finally received our documents there were a number of errors , not to mention, failing to divulge that the applicants would have to get a generic ID check and Land Title EI...S ID check at the post office at a cost (which again we were not made aware of)! Had Vivien Z. not taken over the deal my application to deal directly with another Lender would have been submitted. Vivien was given the very tough job of having to iron out all the errors in the documentation, a number of times. Vivien handled our numerous complaints in a very effective and professional manner. Thank you Vivien your colleagues should definitely be looking to you with regards to communication with a customer, and being dependable and taking ownership.
very long process
A very long process which we were not used to with our previous broker. If we knew it was going to be as hard as it was, we probably would have cancelled it. In saying this, we have no problems with the staff, only doing their job.
After a google search I was promptly contacted by [name removed] from Lendi who assured me that the bad experience I'd had with another broker in the months prior was unheard of and he promised I'd be able to acquire the loan i wanted through him no problems at all. We hit several problems (supposedly unforeseen, but the banks apparently have rules that got in the way of the promises made by [name removed]). After deciding to alter the parameters of the loan request i was again assured 100% that there would be no issues at all, so i bought a ho...use "subject to finance" which gave me a further 14 days to secure the loan. 14 turned into 16, which turned into 18 (at the demoralizing request for extension after extension to the vendor)... then the contract automatically went 'unconditional' yet i still had no confirmed finance 3 weeks out from settlement. We got there in the end but it was probably one of the worst and most stressful things I've ever been through. Credit to [name removed] for always keeping in contact, it was just a shame that he rarely had good news to report.
Longest loan settlement ever
I made initial contact with Lendi a couple of days before Xmas 2016, and was very impressed with the service I received being such a busy time. With promises of answers and approvals within a week I was quite chuffed with getting my refinancing sorted quite quickly.
But it wasn't to be - 3 months later my loan settled. Just about every day I had to send another document which is fine, however they could have all been asked for upfront to save all the running around. I was continually having to follow up for a status of the progress of the ...loan which became quite embarrassing after a few weeks. Staff were quite good and responsive until the loan settled - I have now emailed them twice since to ask for a breakdown of how the loan was distributed as I was promised a residual amount (which didn't happen either) and I am still yet to receive a reply. I am feeling a bit dissatisfied, especially as you get to the point that you can't pull out because of the credit checking process so you kind of get stuck until the end. I can now only hope the product I was sold lives up to the promises given to me about it.
Questions & Answers
Hi Lendi Team,
I am writing on behalf of my husband. I feel so bad for him as he keeps calling our Agent but no response. We are waiting for Unconditional Approval from last week Thursday. Two days ago my husband was on a call with Agent regarding some query but after that no communication at all. Now Christmas holiday coming closer and closer we need some kind of Clarification otherwise we would withdraw the application. If someone can contact my husband. ASAP.
Hi Dipti, thank you for taking the time to review your experience with Lendi. We take customer experience seriously and will be looking into what has happened. We will send you a private message to discuss this further. Please reach out if you have any further questions or queries and we would be happy to assist you.
I was leaning towards Lendi for a homeloan after seeing the '1877' reviews with the highest stars than any of big 4 banks, just having a feeling that these may not be genuine.
Are you aware of any fake or paid reviews ?
Hey there, thank you for your question. I want to clarify that we are not ourselves a Lender. We work alongside over 35 lenders within the market and have helped thousands of Australians on their home loans. We pride ourself on providing exceptional customer service, hence some of our glowing reviews on Product Review. We do not pay for our reviews nor are our reviews fake. If you would like to know what the hype is about and understand how we can help you, feel free to send us a private message and we would be more than happy to see how we can help.
You should look at "Verified Customer" only. I am a "verified customer" and actually not happy with this company.
Better to use a local agent !
What happen to lendi network?
I'm not sure what you're referring to here, I've sent you a private message to gain a better understanding, there are no issues with the Lendi network.
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