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.
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.
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.
POOR AFTER SALES
After a great sales service I received my loan documents for review. I questioned the terms and conditions and have been told it is the brokers responsibility I.e. Lendi to resolve not the Bank. However after contacting Lendi multiple times I have had zero help. They even said they are not the broker? So who is the broker then? Are they just sales people? It is a serious undertaking to take on a mortgage and I am not happy with lendi after sales service
Buying and settling - Take 2
Dean Hulsmann, our broker is wonderful to deal with. Unfortunately the process is so lengthy, but that is more of a bank issue than the broker themselves. I am very upfront and say exactly what I want, so Dean & I have built a decent relationship over the last 2 years to the point where he knows me well enough that we can communicate really easily.
I can only give 4 stars though, mostly because in my eyes, the settlement team doesn't live up to the same expectations. I know they are incredibly busy at the moment, but the customer should always...
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.
Avoid, if time is of any importance to you. It took Lendi 3-4 WEEKS to submit a simple application which had everything ticked from the word go.
Skills to rope in new customers once they have you the phone are top notch but once you are caught in their net, no option but to suffer the delays.
Very hard to talk to, Home Loan specialist will never respond to messages left on their site and will not provide a direct number to contact unless you complaint.
Ideally an online broker should not require any human intervention, however dealing with Len...
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
Information provided was consistently incorrect and misleading causing us to almost lose the house we purchased.
Unfortunately, I had no end of issues with Lendi throughout my loan application process. I had to consistently follow up to ensure items were completed. Lendi provided false and misleading information on numerous occasions, including from both the brokers manager and also the senior sales manager.
I only decided to go with a broker as I am extremely time poor due to work and family commitments.
I am extremely fortunate to work in lending and have an understanding of the loan process. If I did not have this experience, I would have lost the ...house I had purchased due to Lendi. Lendi continuously refused to escalate our loan application even though it was a purchase settlement and I submitted our application before making an offer on a house, on top of this, I also allowed an extended 21 days for finance giving a total of over 25 days to organise finance. Lendi never took any responsibility for their shortcomings and continuously blamed the lender. After extensive discussions with the head of credit for the lender, they advised that all the information I had been provided by Lendi had been incorrect. Further to this, the senior sales manager, [Name Removed] really needs to take some courses in how to speak with customers, he was extremely arrogant and had absolutely no empathy for our situation.
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
Second time no better
They take way too long to get documents sorted. Then when there is a s notuff up takes a while to sort out. However it does get sorted out well and they are always polite and helpful. This is our third loan with them. The worst thing is you need AT LEAST 45-60 days to settle. Once they approve everything then you need to comply with the bank they choose for you. Fair enough but each loan has different requirements etc that take a while. Nothing beats having a bank manager. So they are good but their banks they deal with can drag things out.
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.
Great customer service !!
We found the process to be easy and Aaron kept us informed throughout the whole process ..the rates that Aaron offered us we’re very competitive and his level of customer service was excellent, thanks again for helping us out Aaron.
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.
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 email@example.com - 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.