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.
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
My Experience was totally bad
My initial experience was OK, Once signed up with them experience was horrible.
Lack of communication, In experience staffs, unnecessary documents asking for loan, Not willing to listen customer properly. Simply wasting customers time. Not recommended at all
Comedy of errors but not funny
I've used Lendi twice now and both times there was error after error causing extended delays. I went back the 2nd time because my current lender advised I had to because they referred me the 1st time. From issuing loan documents for the incorrect amount, constantly having to chase updates and being punted around to multiple different staff members it was an absolute joke. The bad service caused weeks of delays to the commencement of my home renovations, inconveniencing my family and my builder. Will not use them again and will not recommend to anyone.
Looking for alternative poor service
I have used Lendi previously and found them amazing. Using it to get an investment property found them horrible to deal with, documents requested repeatedly, documents not understood or read, had no idea of salary packaging. Told that I needed a quick settlement as there were specific conditions, did not understand contacts and commitments.
Told that it would take 4 days now on day 6 with still no results. Will be looking elsewhere in future.
Worst ever experience ! The most stressful process only because of a home loan specialist
Please dont go with Lendi if you are looking for a smooth and hazzle free home loan process.
Very poor communication and at the end, loan is not settled on time.
The so called home loan specialist [name removed] submitted the loan without listening to the customers needs and we had to direct him for every step.
Lendi will have good communication and assurance until they confirm the business, after that you call them 100 times, they won’t answer the call and reply to email, especially [name removed].
There are so many mortg...
Some good more poor service
Initial contact good. Had to resubmit paperwork too many times. Too many calls from various staff about same thing. Lack of communication within Lendi staff. Upon settlement didnt even get the loan setup as requested. 1 month on and still not setup correctly. Lendi blames bank and vice versa. Me the customer stuck in limbo.
WORST EXPERIENCE EVER
Lendi has been disappointing from day one. I submitted for loan approval after I have signed up the contract. The real estate has given us 3 weeks to get the approval. The next day I submitted all the required documents and from there on they only submitted loan to P&N Bank after a week. Then the wait started, until the last day of finance approval they did not contacted me regarding the finance process. Therefore I have to extend the finace approval date for another week, waited again no response, in the process false promises and keep asking ...me repeat documents come last day of finance, asked for another one week extention. By this time the seller was also getting worried and this lendi representative assured her that it will be approved that they are just taking time but promised that the application is solid and that it will be approved.Waited again.. and then after waiting 5 weeks, we got the answer that the loan is not servicable and the application has been declined. Very disappointing that after taking this long they came to the conclusion that this application is not succesful. In the process I have spent $550 on building and termite inspection. I reckon the Lendi broker was not qualified enough to access the aplication before handing over to the bank. In the end I asked him for decline letter from the bank to submit it to real estate agend to get my refund but that also I am not sure,if ia m going to get. Its been 3 days now but no response. Not happy with lendi and also with P&N Bank.
SHOCKING!! SAVE YOURSELF THE HEADACHE
Save yourself the headache and keep away. I was given empty promises, had to chase them up often. They recommended AMP, it took approx 3 weeks to get a pre- approval despite expressing urgency. I had to go over 42 pages of documentation, paperwork after paperwork. They sat on the information provided for a while. They gave me empty promises. If you are not too concerned about time and whether you get an approval, then speak to Lendi. Thank you ANZ for approving my application with an unconditional approval within 4 days.
Failed on every front.
My dealings with Lendi have left a lot to be desired to the point I am reluctant to bother with brokers in future... I applied to refinance my investment property, to find myself constantly chasing and following up the broker, who always seemed to be on a flight, in hospital or other wise occupied.. this went on for 2 months and in the end I simply stopped following up; I have not heard back from that broker since. I then called head office to seek assistance from someone else, only to never get a phone call back... Lendi is one of the worst organisations I have had to deal with, they seem to have no concept of customer service or common courtesy.
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.
Get an answer from our members and Lendi representatives
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.