Reviewer Photos & Videos
Hit and miss
Mortgage broker (Tom) was awesome, we were off to a great start….upon handover to the Settlements team and everything turned to sh*t. Feels like a case of the left hand (Lendi) not talking to the right hand (Bank), lots of emails and phone calls with mixed messages, no clue as to what documentation had to be signed for the Bank, receive a confirmation from Lendi saying everything’s been completed then a week later apparently not so... I found it more helpful reaching out to the Lender directly to clarify the actual requirements. 3 months later….
Unreliable and waste of time
I used Lendi twice, once as a first home buyer and then for refinance. In both instances I got wrong products recommended and the process was so slow that I had to get loan arranged from somewhere else.
During refinance I was suggested HSBC. I patiently waited for 4 months but got an abysmal 3.37% fixed rate offer blaming the bank. I would recommend Lendi to those who want to waste their time.
We had an absolutely terrible experience with Lendi which made our home buying experience very painful.
Could have easily just went direct to the bank for a smoother experience in getting a loan.
We were assigned a broker who seemed OK at the very beginning, until after we had bought the property where all the issues started to arise.
She continuously made errors and spoken with certainties, when in fact she had no idea what she was talking about, and never apologises for her errors and puts the blame on others (the bank and us).
1. She was ce...rtain that the bank did not accept nominations to add my partner's name to the contract of sale, and that we must physically amend the signed contract (the agent and both parties' conveyancers all agreed that they never encountered this, and said this was not possible after contracts are signed, which is obviously true, and that nomination form is the correct method). This was never resolved as she insisted that the contract must be amended, and we just wanted to progress with the application without any further delays so that we could meet settlement date. Note that this was needed in order to get the bank to valuate the property. 2. She had to re-submit the loan application multiple times, due to incorrectly putting in the wrong loan amount and wrong product. If this was not picked up by us early each time then we would have potentially missed settlement due to lack of funds and delays on resubmitting. We requested to be updated throughout in order to make sure things were on track but found that we continuously had to be the ones to chase her up and not vice-versa. We even had to change banks from HSBC to Macquarie as following the loan amount update, HSBC would no longer accept our loan request. This lead to an unexpected higher interest rate than was promised (not to even mention an additional credit enquiry on both mine and my partner's credit score due to her error) 3. Upon correcting this, ONCE AGAIN she submits loan application with an offset account that WAS NOT REQUESTED. This caused issues and delays once again as we had to resubmit loan request to the bank and also have to contact the bank directly to sort out account issues and removal of the offset account so that we are not charged annual fee for incorrect product. Be warned, as if you go with Lendi as a broker and encounter issues, that everything needs to be done through the broker for the rest of the loan application if you're going with the same bank (unless you choose to go through the entire application again such as providing bank statements, ID etc. all over again), risking not meeting the settlement date and paying penalties.
Anand Mehta - so called lending specialist.
Decided to go with Lendi to re finance. Spoke to Anand Mehta. Very poor communication ability and comes across arrogant. We spoke on the phone at 11:30am and he said to expect a call from him at 5:30pm. No call. Wouldn’t return calls. How on earth could I trust someone with my 30 year term loan if he cannot even have the professionalism to call me back when he said he will.
Lendi loss my business and advise to not deal with Anand Mehta.
Lendi - Run, run now!
I own several properties and have been refinancing over 15+ years, including using brokers. In 2021 I chose to work with Lendi. Paul, one of the ‘Relationship Managers’ confirmed my market research that Westpac was the best option for me, with the enticement being $3000 cash back, which I met the criteria for. After completing the info for the loan application via the Lendi online portal I was passed onto Ardra ‘Senior Client Solutions Expert’, and here is where our problems began. The settlement was stalled multiple times due to Lendi, thi...s added up to over 1 month of back and forth from Westpact to Lendi to me, back to Lendi and Westpac and so on and on and on. I would ring Lendi asking for an update, and if anything, more was required – told nothing. Then the next day or so, I would hear from Lendi that Westpac need some other information, all reasonable requests to progress the loan, but for which Lendi appeared to have no clue about. So over and over this went on. With Lendi stalling the process, basically it would take at least several days turn around from the request from Westpac via Lendi, to me and then back, via Lindi to Westpac. Lendi basically just got in the way of the applications process and stalled the settlement. Then as Lendi had dragged the chain, they didn’t seem to comprehend that Westpac would be asking for more information and Lendi’s delays in process an communication, resulted in information we had provided at the time of the application now was not current and we had to provide it again! So once again we provided more (of the same) info. Honestly, this is something any half decent broker would have been on top of, but not Lendi, they had to again be requested by Westpac for the info, so frustrating! Meanwhile, at the same time I was refinancing another property dealing directly with CBA. CBA required less info then Lendi ask for via their ‘online application’ system, CBA kept me informed all the way and the settlement when though in half the time dealing directly with the bank than the process I was going through via Lendi. The worst thing wasn’t that Lendi were slow, or that Lendi didn’t keep us informed or seemed not to know what they were doing. The worst thing was that we were deemed ineligible for the $3000 cash back because Lendi did not configure the loan correctly to satisfy the eligibility criteria! Lendi are hopelessly incompetent and for all the reasons you would want to have a broker involved, they were basically a hindrance for me not a help. No doubt Lendi will try to blame me for their mess, and I guess it is my mistake, in thinking Lendi would actually be more helpful than me doing the refinance myself. Stay clear people! Do the market research yourself and approach banks/building societies yourself, you may be surprised at the offers made which are not always ‘advertised’. But for the love of god, learn from my experience and stay the hell away from Lendi, they are hopeless!
Highly recommend not using lendi
4.5 months to refinance and still waiting.
Never updated through the process asked for things over and over that had no relevance. I will go directly through a bank then use there service again!
Very pushy broker, lengthy pre-approval waiting time
I used lendi via the Domain website, a friend has also recommended it to me. Everything seems well at the start, simple setup, quick call back and great rates. But when things got serious, I started to feel that all my assigned broker wants to do is to lure me into the ING, that she doesn't care that my situation has changed and was pushing me to keep using ING.
ING currently has 21-day waiting time for pre-approval, it wasn't a problem for me at the start as I was just browsing through properties, then I found a property that I'm interested ...in in a shorter timeframe than I originally anticipated. I didn't like the long waiting time as it would be as lengthy as the formal approval process, so I asked for other options for a faster pre-approval, she insisted that if I end up signing conditional CoS, she's able to accelerate the process and get it done in 10 days, I still wasn't convinced, but it was provided to me in a way that ING is my only choice. She pushed so hard to a point I don't feel comfortable and I said I will need more time to consider. Note this is all before the application is submitted and you suppose to still have some freedom to choose what you really want to apply to base on your situation. At the end, I just wasn't comfortable doing this and I need my pre-approval sooner. I called it off by sending her an email requesting to stop the application and cancel the ID check from zipID. She hasn't replied to my email since, and it is hard to get to the zipID line to cancle the appt. But the guy who came to check my ID was very understandable when i said i didn't want to proceed. I end up going to CBA and got my pre-approval within 2 days, it was just uploading all my relevant documents and no waste of time like this.
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.
Looked really promising but……
We have been on the refinance merry go round directly with Macquarie Bank for months and so decided to look elsewhere. The initial phone interview was very positive and we had a scheduled video meeting with Leigh Passfield that evening. Again all looked promising, surprisingly Macquarie Bank was seen as the best fit for us and Leigh offered to follow up with Macquarie Bank. Then the door seemed to close quickly once we reiterated that we were looking for an interest only period of 5 years - which had been communicated in the initial phone in...terview. We were then asked to leave a review to ‘justify my time’. Three weeks later, haven’t heard anything more. UPDATE - After attempting to post the above review in early December, we received an email immediately to enter mediation and a further email two days later with a promise to ‘escalate to our management team’, 6 weeks later, still nothing. We are always eager to support new business, perhaps Lendi just got too big too fast. For us to refinance was just a personal choice, we were in no hurry, but if you needed to move quickly to purchase, I’d be wary.
Very disappointed with Lendi settlement team
The broker i delt with to start the process Eric was fantastic but it went down hill from there , i was sent 2 incorrect bank contracts the settlement member Roneel was very hard to get onto he only returned my call after an email outlining my intentions to contact the ombudsman I was given 6 different settlement dates with a lack of explanation why ? that is totally unacceptable and poor business practise we have excellent credit history which was a straight forward application but clearly for a business that is in this line of work on a daily basis cant even get the simple refinance contract settled in a timely manner this is a real concern .I definitely will not be recommending Lendi to family or friends .
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.
Communication? What Communication!
Initially, our broker was in touch regularly - until we chose to apply for a loan through them. Messages were met with silence, the process took forever! Wouldn't use them again!
Started a refinance loan through Lendi, the agents i have had 3 now and do not call when they say, even got told they forgot, then asking for same documents over and over, i am done have not finished filling in info because they want me to run around and get a release form from the bank when there has been no approval, then the other bank if i get the loan want to charge me to get the same document signed again forget it hire professionals not young people who have no idea what they are doing, i asked for a pacific loan including credit card and this has been ignored.
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...
Wouldn't even pickup the phone
If you call them, the hold tone is the most annoying tone I have ever heard.
Then, after getting through to someone, they just immediately hung up. Disgusting service and not worth your time.
Questions & Answers
Hello, waiting for someone to answer my email about removing my details from your system as you broker was rude. I have emailed firstname.lastname@example.org - and there is no one on the other end to help.
Please respond to my email and follow instructions within.
Looking forward to a reply.
I have sent you a private message here on Product Review in order to rectify this issue urgently. Looking forward to hearing back from you!
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.
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