LoanAustralia

Not recommended - on the way out – I reckon they are just riding the wave of good reviews received in 2007, and not making any effort to gain new customers. Just check out their website: home loan interest rates haven't been updated since Sept.2011!! What a joke. Agree with the other comments I read here. Loan Australia is not even a company, cannot find them in the phonebook, etc.… Read more

Good rates back in 2007 They clearly are planning to fade away once current members paid off much of their interests

This is very bad i can live without it – Their customer service is very bad. they don't call u back when they say they will. If customer doesn't understand something about their home loan in my experience once you have bought their product then they don't pay any attention . Their interest rate is higher than most of landers. I cant wait to refinance with some other lender. I am only waiting my exit fee period expire. expansive , bad customer service and exit fees

Terrible – Don't do it. Unless you have a very straightforward loan, don't cause yourself the pain. This company has caused me ridiculous amounts of anguish. To name an example, one staff member I spoke to, did not even know what a guarantor was. Great rates, but totally not worth it in the end, I strongly regret choosing them. At first, the rates and… Read more

low fees look fantastic.. BUT.. Absolutely USELESS staff. I simply cannot believe how completely incompetent these people are.

Terrible – Where do they find their staff ? I cannot believe that any business can survive with such apalling customer service. Phone often goes unanswered, when it is answered the response is unhelpful, unprofessional and abrupt. Different people will give different answers or advice. I have requested to have my postal address changed on 4 seperate… Read more

occasions

(in writing) and to date, this still has not been done - apparently they haven't received the request(s) !

There is no internet banking, which makes things difficult - this is the 21st Century we're in isn't it ?

Another thing (small, but goes a long way to proving how unprofessional this mob is) - their written correspondence is not printed on letterhead ! Apart from the words "LOAN AUSTRALIA" printed in small font underneath an illegible signature, you wouldn't know who the letter was from !

I deeply regret chosing this provider - they have given me nothing but a gutful of grief. To make matters worse, their exit fees are astronomical ! They lent to me Mainly the Customer Service

Good – I applied for my mortgage with Loan Australia and got pre-approval almost instantly. Their customer service is lacking a bit however if you want a no-frills loan it is ideal. The fact they don't have internet access was one of the biggest downfalls in my opinion. I did present them with a unique case where I had 2 jobs and alot of issues in… Read more

relation to the jobs, pay, my ex-spouse etc and they definately have to be commended in the way they dealt with it. I also had to move settlement forward a month and they dealt with very efficiently.

If I ever needed a 100% loan again I wouldn't hesitate to use them again They are one of the very few to still offer 100% loans, quick turn around, cheap rates No internet banking, bi-annual statements and a lack of customer service

Terrible – Do not contact these people if you don't exactly fit into their categorical requirements. Staff member on the phone asked me if I have had a IBN for 2 years?! Then a BN?!! This person doesn't even know what an ABN is, my goodness! Sounded like she was still eating her breakfast when I called at 9 am, which was very annoying. So make sure you call… Read more

after 10 o'clock if you have any enquiries.

I would rather pay a little extra to deal with professionals than use this lender. The rates of course. Moronic staff. Inflexible. Unprofessional.

Good – I've been with them over 6 months and overall I'm happy, despite patchy phone support. The rate and features were the best I could find for the split home/investment loan I wanted. Competively cheap rates. Loan application progressed reasonably smoothly. Basic but well-featured and flexible loan. Split option for investment etc. Debit card account… Read more

a good feature (can have salary paid into loan for 100% offset, if I understand correctly). As other reviewers have pointed out, some of the staff seem to have walked in off the street. When I did press for information, I was able to speak to someone who knew what they were talking about. Certainly not a patch another non-Bank lender I refinanced from in terms of customer support. Phone and fax banking only (internet anticipated 6 months ago but still not available). Higher than average exit fees (watch this one).

Good – I wrote the review below when I was in the process of applying for the loan. I have now had the loan for 4 months and must say I am happy with it. The loan account is held with the ANZ and they provide an efpos card for withdrawing extra repyaments. Telephone banking is also basically set-up through the ANZ it seems. So far so good. No hidden… Read more

costs. The only fee was the legal fees. Was a couple of hundred dollars. (don't remember exactly). $350 application fee was refunded after 3 months. So far they have raised their interest rate inline with the rise in the official cash rate, with the last rise inline with the 0.2% rate rise the ANZ had imposed. I would expect this for such a low rate loan. I do not regret going wit this loan. It still seems my loan rate is lower than most people I speak with. very low rates, easy to manage, can easily make extra repayments and withdraw if required No internet banking, staff/phone support is very poor