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Loans.com.au
3.5 from 719 reviews

Excellent product

Service was freindly and prompt, questions answered immediately nothing too much bother, anyone i spoke with was knowledgeable.they seemed transperent in there product's no hidden fees and charges well worth looking into

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Loan TypeVariable Rate
Loan Start DateJune 2019
Loan used for:Refinancing

Great service and better rate

Easy to deal with and lowest rates. See a lot of complaints here from existing customers so will need to see what happens in future but all good for now.

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Loan TypeVariable Rate

Best rate

Refinanced my home loan & found the experience super easy, fast & friendly. After comparing all fixed home loan rates - they had the best offer. They also offer a 'rate lock' which does cost but gives you peace of mind that the rate you first choose will be the rate you get at settlement. The online portal was easy to use too but you can always call someone if you have trouble. The only thing I would suggest is 24x7/365 call centre hours. Currently they offer 7am to 7pm Mon to Fri.

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Loan TypeFixed Rate
Loan Start DateJune 2019
Loan used for:Refinancing

Beware the low rate offers. They only last a few months and up it goes.

Best rates advertised. Once hooked, up it goes while still offering new customers the good rate. I moved loan provider. The saying goes. If its too good to be true….

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Loan TypeVariable Rate
Loan used for:Refinancing

Good Rates to start with but as an existent customer, I pay more that new

As I write this, the advertised rate for the product I have is 0.1% lower than I am getting (with them passing on 0.2% of rate reduction). I had been paying 3.84% interest rate when their advertised rate had been lower. i am leaving them as my situation means that negotiating with them is not worth it. but beware of suck in and increase rates later tactics!

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Loan TypeVariable Rate
Loan Start DateJuly 2017
Loan used for:Refinancing

Rip off

Dodgey Tactics - refinancing ? beware! I FEEL DUPED....Act like your best friend take your money to 'value' your house. Spend 5 minutes at your house and compare a couple past sales on realestate.com and charge you $250 for the privilege what a joke. Valuations done by these guys are severely below what the house is worth. I declined to continue but they keep your money. They should be charged for wasting my time ! I went through different bank no valuation fee on two morgages and lower rate plus reasonable valuation.

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Cant give less than 1 star...Terrible service & zero ownership as keeps on changing rates what suits them

I applied for a car loan online at 5.44% interest rate and 5 year term after discussing with their car loan dept.After submitting all the documents needed got my application approved in full and sent a online contract to sign and found that they changed the loan term to 4 year with no balloon and wanting me to sign something that I didn't applied for, wasn't what was approved and without any notification. I contacted the sales rep and call centre multiple times question why this has been changed but got no satisfactory response.Finally was told that since I have told that the car was going to be used for business purposes, this has been changed to suit the company.Staff are clueless, poor & pathetic service, have no idea and dont return the calls in time, promise one thing and deliver something else, dont know if they are talking to right customer as been told twice that i have a home loan with them when i dont. All of this stuff up when I told them I was looking for quick settlement and this caused delays, costed my 2 credit file enquires, hassle of going with another provider, incurred application fees and charges that were going to be waived off, Phone calls and time wasted.Loans company is aware of mistake and stuff up but doesn't seem to have common sense to provide compensation to fix their error so have to lodge an Ombudsman complaint to get this fixed. I wont them using them ever again !!

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Great rate for now...let’s see what happens next

Super helpful and easy to deal with. Was on very tight time line and they got everything through. Excellent communication and transparency. We’ll see what happens with the rate now!

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Loan TypeVariable Rate
Loan Start DateJune 2019
Loan used for:Refinancing

Smooth process & good rate

I think this is by far the fastest loan refinance process I have experienced. Five and a half weeks from application to settlement. I’m saving around 1% from my previous mortgage provider. Good basic homeloan product.

Jason was really helpful, patient & responsive.

The app was great, a few little glitches but on the whole made the process a lot smoother.

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Loan TypeVariable Rate
Loan used for:Refinancing

Great low rates! Good service

I just refinanced after being with my bank for over 20 years because loans.com.au had such a great rate! It was quite easy to apply and everything was done online.

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Loan TypeVariable Rate
Loan used for:Refinancing

Bait and Switch company. Very dodgy.

Sucked me in with low interest rates 5 years ago. Raised them out of cycle all the time. I was paying 4% with them until RBA’s recent 25 point rate cut. They have decided to pass just 20 points and keep 5 for themselves.

In the past I have disputed the rate rises and the fact that they are offering full 0.5-0.6% less to new clients for exact same product.
Their explanation was that my loan was setup when rates were higher and even at 4% it was lower than before. That makes no sense since it is a variable rate loan.

Getting out now will cost me $700. But I am in market now.

Settlement was a hassle as well and my conveyancer told me about their callous attitude and no accountability.

I would not recommend them at all.

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Loan TypeVariable Rate

BEWARE!!!!

You need to seriously consider if you really want to deal with this bank for the sake of 10-20 basis points- I will tell you why and this is 100% a honest real review!

Low interest rates , no fees, what’s the catch? The catch is over worked uneducated, RUDE staff. I read the reviews before I called them to enquire about their current interest rate offer, and noticed every 2-4 reviews was a 1 star for a variety of reasons but decided to call them anyway. I wish I never did.

I called a week ago and was asking some questions regarding offset vs redraw - I wanted to know the difference , and no word of a lie the person when I asked a question regarding it - the person said “ no you idiot” under her breath to me.
I could tell as soon as I initially spoke to this bank representative that she had a chip on her shoulder but I couldn’t believe she said this.
I made an official complaint and they called to say they heard the recording and it’s currently with HR. That’s it??? How is this person working and representing loans.com.au not instantly dropped when they have this recording of her abusing and bullying a potential customer. Well like I said overworked , uneducated rude staff .

They treated me like this as a potential customer. Imagine if your an exsisiting customer. Just like the 1 star reviews mostly exsisting customers are leaving.

Go with a medium size bank with staff that know what they are talking about , are not rude - yes you may pay 10-20 basis points but you are getting solid reliable staff and answers from lenders that are more secure.

I am surprised this day and age that a bank can bully and harass in this day and age and the staff memeber still has a job.

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Loan TypeVariable Rate

Easy Peasy if your are basically computer savy

Loans.com.au was recommended to me by a friend due to their low interest rate. The refinancing was easy and quick, with no real problems. Know that you will always DO about $1000 in fees and costs when you change from one finance to another, but if the interest rate improvement is 0.25% you will regain that after a year on a $500K loan (ish). Being recommended by a friend they received a $450 reduction in their loan balance and I received a $150 reduction in my settlement fee (down from$300), so well worth the effort.
The Loans.com.au website and staff were not troublesome in any way.

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Loan TypeVariable Rate
Loan Start DateJune 2019
Loan used for:Refinancing

Great Service

I had a good experience with loans.com. My only problem was checking my ID. They had my passport and several other cards but insisted on my drivers licence as well. I think that was an overkill. All went well . Low set up costs. Low interest rate.

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Loan TypeVariable Rate
Loan Start DateMay 2019
Loan used for:Second Home

They do not know the meaning of Loyalty

After with them for more than 5 years and them not willing to review their rates for existing customers, I would say they do not know the meaning of Loyalty or there is no such word as Loyalty in their dictionary. If you are planning to take out a loan with them, be warned. They may offer you a very good rate initially. But once you are sucked in and review your interest even after a year with the interest offered to new customers there will be significant difference.

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Loan TypeVariable Rate
Loan Start DateJune 2013
Loan used for:First Home

Too good to let go!!!

Customer service was absolutely great.. right from the start to finish.. All cost associated with the loan were minimal and the interest rate offered was very competitive and hoping for a lower rate as the RBA have announced. Cheers to being with u guys

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Loan TypeVariable Rate
Loan Start DateJune 2019
Loan used for:Refinancing

Existing customers do not get interest rate cut

How long have people had their loan when they rate 5 stars for this lender? I suggest only a new customer would. Once you are an existing customer you are treated very different.
Once again the interest rate for new customers is lowered while existing customers (like me) do not get the interest rate cut passed on.

Once you refinance they have you for at least a couple of years. As it’s not easy to simply change lender once they’ve tricked you with their tactics and lower rate. Of course the sign up process is awesome. That’s how they get you on the hook.

Make sure you research other lenders rate rise patterns. The new customer advertised rate is different to the one an existing customer pays.

Paying 0.5 % more becomes quite expensive over a 12 month period!

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Loan TypeVariable Rate

Worst online lender - no rate cut yet

While all other lenders have reduced their rates following RBA decision. LoansComAu is still reviewing how much to reduce its by - just ridiculous. I have been a customer for over 5 years and know first hand their false promises. They attract new customers with low rates and then quickly increase it to make more money!!! Time to refinance.

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Loan TypeVariable Rate
Loan used for:First Home

Better than the big boys

I would thoroughly recommend loans.com.
Just signed up for a car loan, after refinancing home loan.
Staff always helpful along the way
No more fees
Easy online portal for both loans
Low rates
What more can you ask for ?
Say goodbye to big banks. I did
No regrets

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Loan TypeVariable Rate
Loan Start DateApril 2019
Loan used for:Refinancing

My own bank wouldn't help me after losing my husband

Refinancing with an empathetic online bank saved me from after losing my husband. NAB who I had banked with for 20 years wouldn't refinance me because of my age. I saw an ad online and within 24hrs I was approved.

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Loan TypeVariable Rate
Loan Start DateMay 2019

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Questions & Answers

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

What is their online platform like for using with an offset account with redraw facilities?
No answers

Hi, If I leave loans.com do a get the $300 fee per loan split or is this only per security.
1 answer
I'm sorry Dan I don't understand your question. Would you be able to please call our Customer Service team to discuss? You can reach them on 13 10 90.

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