Absolute waste of time!
Extremely disappointed with the service and outcome I received after being promised to be refinanced with HSBC. Lendi had me believe everything looked great and was going to take a couple of weeks to get approved. 2 months later after going through the whole process I get turned down because I’m self employed and run a business. Don’t bother wasting your time! Refinance with someone else as I found a much better company that’s already getting me approved and refinanced.
These people are criminals.
Not sure what kind of business they're running, but I lodged an application in September 2021 online for a home loan thinking I would also receive a brokerage service. Financial statements, savings accounts, and a six figure term deposit with perfect credit were all provided. Never heard back. Not a single email or call for two weeks. Their website also pulled data directly from my bank which I found odd. After calling their office I reached an externally contracted call centre, I was advised a broker would call to 'complete my application'. On...e week later and a 45 minute 'pre approval assessment call' later, again I heard nothing for another 2 weeks. I complained again, and was told the first broker was 'inexperienced' and had not completed the phone assessment correctly and someone else would be in touch. Received the first email, an email appointment confirmation, which in turn never showed up for the call. I complained again, they had another person call me the following week, by then the house had sold for which I had applied as it had been over three weeks since I lodged the application and I was still waiting on my borrowing capacity and application outcome. In October, the lady who called this time to 'complete the assessment' was very obnoxious, could not locate the financial statements provided to discuss the application and said she would call back the next day to complete the assessment. I declined, and she said she would call back anyhow. At this stage I felt like I was in a circus. By November, I lodged a complaint with AFCA, Lendi's response was that the application was incomplete and that I would need to complete a third telephone assessment. They also refused to indicate what aspect of the application was incomplete, and the whereabouts of the financial documents provided. I did not obtain a single email signature, point of contact or name for any of the consultants during the process, just one generic acknowledgement of my complaint from the call centre. I have since received pre approval with my bank, but had to renew my lease and spend several months searching again. They are collecting and selling customer financial data, and the positive reviews featured here are paid. Zero professionalism, or accountability. You have been warned.
These guys are unprofessional, inefficient, incapable, cost me 4k in penalty due to their slow processing time
It was my biggest mistake trusting an online broker. Everything seems fine at first and turns super slow after I put in my deposit with my purchase.
I was contacted by [Name Removed] on 30th June 2021, he was "confident" as assured me that it would be easy to get the loan through him and the bank he chose AMP (which was just as incapable)
The very first mistake was getting my name wrong, which caused a huge amount of time proofing my name.
There was so much time wasted asking over useless information, questions and even wanted me to create a s...
Loan Approved in Record Time
Adam from Lendi was really helpful and got our Investment Loan over the line in record time. Unfortunately once our Loan was approved we had a very stressful time dealing with Kristen. We were emailed the same information more than once and Kristen was difficult to deal with. This was a real shame as we were so impressed with Lendi up until this point.
Follow up call from settlement
Follow up call from settlement explained that I had completed variation etc and submitted back to Suncorp last week. Acknowledge that this can take up to a couple of weeks to be processed.
Review collected in partnership with Lendi
Lendi loan process
The process of going through Lendi did take a while, but it was worth it in the end. Seemed to be quite thorough process in getting all the information together for the bank and hence having the best chance of securing the loan. Rishi Nandi was my broker and was a likable and professional character to deal with.
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The service we received from our home loan consultant Kathryn was amazing. She was always keeping in touch with us and informed us of any delays. She found us a really good loan, we could not be happier.
The Sales Process was great
The first encounter and support from Mike Lam were great. He provided me with the information that I needed to decide to purchase another property. When it came to the home loan decision time, he reduced my overall interest rate for my investment property and got me a good rate on my additional home loan.
The support after the sale could have been better. The communication about the next steps and timing was a bit uncoordinated and could have been better.
Overall I am a happy customer that got the desired outcome
Took over 3 months to settle. Most frustrating process I have ever been through. Never again. Next time I will go straight to the Lender and not use this Company.
Long drawn series of mistakes that I was left to fix
Terrible, long drawn out experience. Settlement of my loan was stopped due to issues with a property tile, which I was not told about until I followed it up, wondering why I had heard nothing about settlement for weeks. Broker then resubmitted the loan application using a different property title, but requested a standard product instead of an offset product. Despite me raising this at the time, he told me that it would be easy for me to fix with the bank once the loan had settled. I have since wasted hours of my time fixing his mistake, waitin...g on hold with the bank and being passed around from person to person - and I still don't have an off-set product set up, leaving me with a few hundred thousand dollars sitting around, earning no interest, while I pay the full interest on my loan.
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Thanks for wasting my time.
It would be nice if I was able to talk to the consultant assigned to me. A call time was set up twice and both times he failed to call. Very disappointed. Thank you for wasting my time!
An incredibly slow process with no result.
Our first and last experience with Lendi was not good at all. We had applied for Pre-approval last year in May to get an idea how much we can borrow but that didn't happen as excepted. Our Lendi Agent told us that if we have a contract, we would get the approval in 15 days, which never happened as we found our first dream home/land package. The day we paid $2000 to secure the land we got bad new saying our application has been rejected by the bank which was chosen by Lendi Agent. Then Lendi referred our application to another bank and after cha...sing and waiting for 2 months we got conditional approval and we paid 5% deposit in October. 2 months had past and we still didn't get the final approval. Long story short, we wasted 6 to 7 months following up with Lendi and didn't get any result. Luckily, we withdraw our application (before Christmas as we mentioned to our agent earlier) from Lendi. We made the best decision of our lives after we approached another Lender as we got our loan settled in 15 days. Everything is still the same situation (income etc.). Lendi took 8 to 9 months to get the Conditional Approval but with the new lender, we got our Unconditional/Final Approval within 15 days. Overall, our experience with Lendi was not great.
No it did not work !
The agent ([Name Removed]) is nice but the system is so bad:
1) There are so many bugs / errors while uploading the documents to their platform
2) There are so many back and forth steps to finalise the documents. Before I spent only couple hours with a local agent to finish all required documents but with Lendi it takes 3-4 weeks to submit even though my documents are ready
3) Then it takes ages for them to submit the applications to the bank
I gave up with Lendi after 3 months of processing the application.
Never ever again!!!
PS. To everyo...ne: I chose Lendi as my loan agent because I found they have very high reviews. However, now I know that not many of them are "verified customers" like myself. You know what I mean! So please consider this fact before you make your decision. Good luck
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Thank you Andrew for prompt service in actioning the rate review. Within a few hours of accepting the revised rates, the information was actioned to reflect on all my loans
Easy as can be.
Lendi helped us get off keystart loans which is a lift of a huge financial burden, due to high interests rates. They organised everything, answered any questions we had, no matter how stupid these questions might have been,Haha. I would highly recommend them.
Questions & Answers
I am a free-lance real estate agent and now working for Investment Property Consulting. I have a client who wants to buy an investment property. Here are his relevant information:
1. A single-earner with no dependent except his wife who’s not working;
2. He’s earning $65k a year; no personal loan with credit card with 6k limit;
3. His owner-occupier is valued at more than 65k with existing mortgage of only $194k;
4. He is willing to put deposit up to 30% coming from his equity
He wants to know how much he can borrow. I can provide you with any relevant info/documents you may require and you can talk to our client after. You may call me through my mobile phone.
May I hear from you soon.
0430 308 813
Hi Alex, thank you for reaching out. We actually have a really useful tool on our website to help with your inquiry called our burrowing power calculator https://www.lendi.com.au/calculators/. You can complete the questions to determine the clients capacity. Alternatively, the client can reach us directly by calling us on 1300 323 181 to get in touch with someone from our team. Thank you.
Why doesn't lendi answer their phones anymore ,I have used them previously and found the service great but now can't speak to anyone?
Hi Daniel, thank you for taking the time to leave us a question.
We take customer experience seriously and try answer all inbounds, otherwise we have a call back system in place in case we miss any calls.
We will be looking into what has happened and will send you a private message to discuss this further. Please reach out on 02 80264019 if you have any further questions or queries and we would be happy to assist you.
Hello Lendi, i signed into your platform yesterday, 11th October,you allocated a loan of 16500.I applied and in fact paid your registration more than once in error (200x2); i have the Mpesa messages. Now when i try to confirm payment, i get the message,'no payment found try again after some time'. Is this a con game or what?
Hi Munyua, Thanks for reaching out. Can you please confirm for us what website you used as we do not take any payment via our platform so I believe you may have the wrong company here, never the less, we are happy to look in to this for you.
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