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Loans.com.au
3.6 from 820 reviews

Reviews

Review distribution

5 star
419
4 star
121
3 star
17
2 star
52
1 star
211

They don't care about existing customer.

published

Their special rate is only for new customer. They clearly said I can leave if I am not happy but they are not giving me special interest rate even though my loan is variable.

I have also loan with other bank and they automatically give me special rate without asking.

Save your time and effort by not going with loan.com.au

Loan TypeVariable Rate
Loan used for:Refinancing

Mel

MelHobart, TAS

Very Happy

published

We were referred to loans.com.au by a friend and we could not be happier. It as easier to navigate the application process than by the banks we used in the past. We are extremely happy with the rate and the awesome customer service. We could not speak more highly.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateAugust 2019
Loan used for:Refinancing
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The reviewer stated that an incentive was offered for this review


Dave

DaveSydney, NSW

  • 4 reviews
  • 1 like

Rate creep!

published

We joined loans.com.au 2.5years ago. At the time the rates were good and competitive.

These days not so much.

3.16% P&I Owner Occ
3.58% IO Investment
3.31% P&I Investment

These guys quite often don't pass on rates in full to existing customers. They also pass on larger cuts for new customers.

They make themselves appear competitive to new customers, but as soon as you've signed on the dotted line, expect your rates to creep up.

Transparency
Customer Service

Very satisfying

published

Excellent, no extra costs involved, very happy with the rate, will recommend to others. no problems what so ever during the whole process. Easy access to account and loan payments etc.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used for:Second Home
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The reviewer stated that an incentive was offered for this review


Lindsay A

Lindsay ASouth East Queensland, QLD

Happy with my decision to switch my 3 mortgages to loans.com.au

published
Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateSeptember 2019
Loan used for:Refinancing
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The reviewer stated that an incentive was offered for this review


Not Kind to loyal customer

published

I have been with them for 5 years now. I am very disappointed they didn't pass on full rate cut to customer and actually they increased interest last year claiming the borrowing expenses went up, but the cash rate was the same last year. There is a gap between 0.4 and 0.5 between new and existing customers. It is just encouraging the existing customers to refinance with other providers. While try to keep new customers happy, can you please think about how to retain your loyal existing customers?

Transparency
Customer Service
Application Process
Loan TypeVariable Rate
See all answers

Ralph

RalphSouth East Queensland, QLD

ONLINE LOAN OK

published

I was happy with the online application with loans.com. I found the up loading of documents next to useless ended up just emailing my document's. Also found the first person contact taking details of my assets and income, short and pushy. Also could be clearer on the documents there are after.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateSeptember 2019
Loan used for:Second Home
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The reviewer stated that an incentive was offered for this review


Rosemary N

Rosemary NAU

  • 6 reviews
  • 9 likes

[Bad] operation

published

Lure you in with low rate, then raise it after you are with them while no one raise rate. Dodgy documentation fee of 250 for discharge , not sure if this is even legal. Pathetic retention team. The whole operation is basically using existing customers money to fund new customer discount. If old customer dont leave, they are profitable. If they leave, they got sludged with expensive fees. Stay away. There are better lenders out there.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used for:First Home
See all answers

Customer

CustomerPerth

  • 5 reviews
  • 9 likes

Not passing full rate cut to their customers

published

In last 3 rate cuts by RBA. Only once have been forwarded to customers in FULL. There are many other lenders offering far better rate than these. It seems as loans.com.au don't even want to retain the customers by matching or lowering the rate. They might be only focusing on revenue from loan exit fee.

Customer support is also limited to weekdays-working hours only

Below average lenders

published

Customer service is just okay - however they increased loan interest rate in an environment where most institutions were lowering theirs. Additionally out of the last three interest rate cuts they've only passed one on in full and they're very slow in passing them on. If you're in the market for a loan, go elsewhere.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
See all answers

save time do it online

published
Application Process
Loan TypeVariable Rate

The reviewer stated that an incentive was offered for this review


Straightforward process

published

I did find the first person I spoke with abrupt and a little pushy, and this made me nervous as I hadn’t used an online lender before.

Thereafter I had good support and the online portal was an efficient way to lodge documents. I think there could be some tightening up of document names and labels, and submission requirements, as it wasn’t always clear what was being requested so there was a bit of back and forth.

Got there in the end and happy so far. They are a no frills lender so there isn’t the 7 day service but I can work with that.

I noticed another review said their interest rate was jacked up 6 months into the loan period so I’ll review again if this were to happen.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateSeptember 2019
Loan used for:Refinancing
See all answers

The reviewer stated that an incentive was offered for this review


Scott

ScottSydney, NSW

  • 3 reviews
  • 3 likes

There are better online lenders out there (lower interest rates and better services)

published
Loan TypeVariable Rate

dee b.

dee b.Metropolitan Adelaide, SA

  • 3 reviews

Rude & Pushy

published

My experience during initial phone appointment made me annoyed & uneasy. The person who took my call kept cutting me off and almost insisting I make a decision to go forward or not without even listening/responding to my concerns.

Transparency
Customer Service
Loan used for:Refinancing

Robert S.

Robert S.Central Highlands and Goldfields, VIC

Good rates

published

The customers services was good and kept me informed though the loan prose.l with no unexpected expenses or problems setting up the loan the rates were very competitive thank you

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateOctober 2019
Loan used for:Refinancing
See all answers

The reviewer stated that an incentive was offered for this review

Vin

VinVictoria

  • 2 reviews

Two words "WOW & THANKYOU !

published

Customer with NAB for 33 years ~ no loyalty & higher interest rates... Loans.com.au were amazing from beginning to end. The process was fast & easy... Staff were friendly & prompt! Fully recommend to others!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan used for:Refinancing
See all answers

The reviewer stated that an incentive was offered for this review


KathM

KathM

  • 2 reviews

Easiest home loan process we’ve ever had!

published

I can’t believe how easy it was to apply for a home loan with loans.com.au! Great customer service, every question answered, super fast processing, we a settled in 21 days!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
See all answers

The reviewer stated that an incentive was offered for this review


Jason K.

Jason K.Metropolitan Adelaide, SA

Great service and a competitive rate

published

Since finding out about loans.com.au on a comparison site, I found them to have a competitive interest rate and fees. Once I started a pre-approval application, I was given a single point of contact to complete the process which was great. The process was easy. After purchasing a property, I was given a new contact person who guided me through the process. I am very happy with the provider overall and have already recommended to others.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateSeptember 2019
Loan used for:First Home
See all answers

The reviewer stated that an incentive was offered for this review


Worst experience with a loan company, over a month delay !

published

No even 1 star they deserve. Omg the worst experience/ customer service from a loan company. The application was received with all documents end of August and after me calling twice after a month and being told that is in process and soon I’ll get a call , I had to call again and finally got a call 2 October with the results . Over a month for a response . If anyone is looking a a good a prompt service definitely don’t go to this people.

Transparency
Customer Service
Application Process
Timeliness
Loan used for:Second Home
See all answers

Himan

HimanSydney, NSW

Great Product and excellent customer service

published

Exceptional Customer Service: the people I have dealt were really dedicated, kept me inform throughout the process via emails, text and follow up phone calls. They made the process seem so easy.
No additional cost other than what I was told when enquiring for the loan.
Product: Very satisfied with the rate offered by Loans.com.au. Moved from a Big 4 bank as their lowest rate was nowhere close to the rate Loans.com.au offered. I’m saving a significant amount of money with them.
Currently waiting for their decision following RBA rate cut.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan used for:Refinancing
See all answers

The reviewer stated that an incentive was offered for this review


Page 1 of 41

Questions & Answers

David

Davidasked

Do existing customers get locked out from lower interest rates advertised?

2 answers
romsta
romsta

David,

Existing customers get the lower rates. Cheers!

Romy

Patrick
Patrick

Please be aware Existing customers DO NOT get their advertised low rates!!! It’s only to attract new customers.


Robyn L.

Robyn L.asked

Home Loans

How long does it take to get the loan from initial application?

1 answer
Patro
Patro

It took 10 days all total .I applied on 10th July money was in account on 18th July..


Michelle H.

Michelle H.asked

How long does it take for money to transfer from loan account to a different bank account?

1 answer
Loans.com.au
Duncan M.Loans.com.au

Hi Michelle, our cutoff is at 2pm AEST so if the transaction is completed by then, we will send it off that afternoon. What time it appears in the account at the other bank, depends on the receiving bank’s transaction policy. It can take up to 2-3 days.


Get an answer from our members and Loans.com.au representatives

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