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Loans.com.au

Reviews

(438)
(125)
(18)
(55)
(237)
  • Transparency
    3.6 (209)
  • Customer Service
    3.7 (217)
  • Loan TypeVariable Rate (174) · Fixed Rate (23) · Split (10)
  • Application Process
    4.0 (204)
  • Timeliness
    3.8 (200)
  • Loan Term26.289 years (114)
  • Loan used for
    • Refinancing (98)
    • First Home (23)
    • Second Home (20)
    • Investment Property (10)
    • Home Construction (6)
    • Renovation (4)
  • Online Tools
    4.1 (122)
Tass

TassSydney, NSW

  • 2 reviews

Existing customers don't benefit from advertised rates

published

I have on many occasions asked that my rate be reviewed to reflect the rate of new customers. Been told no each time as the source of their loans is different for new customers and if unhappy I should just go elsewhere

Transparency
Customer Service
Loan TypeVariable Rate
Loan Start DateJuly 2017
Loan used forRefinancing
See all answers
2 comments
Loans.com.au
Hayley G.Loans.com.au

Hi Tass. We appreciate you taking the time to leave your honest review. If you have any further feedback please contact customercare@loans.com.au and we will see how we can help.

Tass
Tass

Will I be wasting my time if I do so as I have each previous time or will there be movement?

Lida L.

Lida L.Gungahlin 2912, ACT

Not Good Once You Become Their Customer

published

The introductory rate was good with offset account. However, my rate bumped up twice within the first 6 months after I became their customer. Called a couple of times for a rate review but they would not lower their rate at all. Not to mention most of lenders have passed on the RBA cut recently but Loans.com.au always find excuses not to fully pass it or don't pass it at all.
If you are casual or self-employed, be prepared to give them 3 years of income history, at least that's what happened to me. Also be aware it's not free when you decide to leave them.

Customer Service
Application Process
Online Tools
Loan TypeVariable Rate
Loan Start DateDecember 2016
Loan used forFirst Home
See all answers
1 comment
Loans.com.au
Hayley G.Loans.com.au
Joseph

JosephMetropolitan Adelaide, SA

  • 4 reviews

Worst experience in my life

published
Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
See all answers
1 comment
Loans.com.au
Hayley G.Loans.com.au
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Matt

MattGreater Melbourne (Outer), VIC

  • 3 reviews

Not passing 19th March Rate Cut at all!

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
See all answers
2 comments
Loans.com.au
Hayley G.Loans.com.au
Matt
Matt
Mel

MelMelbourne

  • 3 reviews

Passed on first rate cut but not the second

published
Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
See all answers
1 comment
Loans.com.au
Hayley G.Loans.com.au

Hi Mel, we appreciate you taking the time to leave a review and we are sorry to hear that you have had an unfavourable experience with us. If there’s anything further we could do to improve, please do share your feedback at customercare@loans.com.au.

Ash

AshGreater Melbourne (Outer), VIC

  • 3 reviews

During time of crisis

published

Don't be lured to their loan rate as when i signed up after 6 months whether the interest rates go up or not they raised it. When the reserve bank dropped it they don't drop it and when you ask for hardship due to coronavirus impact and ask if it will affect your credit profile i get advised yes really even through these difficult times where the whole world is suffering. Thanks for not helping through this time of stress and anxiety

Transparency
Customer Service
Loan TypeVariable Rate
2 comments
Loans.com.au
Hayley G.Loans.com.au
Ash
Ash

Well after this message the lady apologised and said she made a mistake so I will take that comment back as she obviously didnt know.

Scammers - beware!

published

Lure you in with low initial rates, then jack your rate up with a series of small incremental rate increases (out of alignment with the RBA decisions) due to 'overseas funding costs blah blah blah'.
RBA cuts are not passed on, only to new customers.
It's a big, nasty scam and it shouldn't be legal. Avoid.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
See all answers
2 comments
Loans.com.au
Hayley G.Loans.com.au
James R.
James R.

Nothing like a stock standard response that fails to address the criticisms I have raised in this complaint. Other potential customers undoubtedly would like you to address the points I have raised? Or is this an admission of your business practices?

Russ L

Russ LPerth

  • 3 reviews

Good to start, don't look after existing customers

published

Since joining Loans.com.au the interest rate for new customers has dropped much lower than existing customers. They are not interested in dropping for existing customers either. Looking to refinance elsewhere.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateSeptember 2018
Loan used forRefinancing
See all answers
3 comments
Loans.com.au
Hayley G.Loans.com.au

Hi Russ, thanks for taking the time to leave a review. If there’s anything further we could do to improve, we’d love to hear your feedback at customercare@loans.com.au.

Russ L
Russ L
Loans.com.au
Hayley G.Loans.com.au

Hi Russ, thanks for letting me know. I will flag this on my end too so we can address this is as soon as possible.

ASHNIL P.

ASHNIL P.South East Queensland, QLD

You'll be a fool if you apply with these guys

published

Trust me, I have been a customer for a while now and know the real experience! Don't be fooled by their low advertised rates, they are for SHOW ONLY! After you become a customer you'll see how your rates slowly bump up compared to their advertised rates. For example, my investment loan rate is 3.18% compared to their advertised rate of 2.94%. Also you'll have to wait like for 3-4 weeks to see the RBA cuts apply to your loan accounts. On the other hand, it takes just hours for them to increase the rates when needed! That tells a lot about the ethics of the company!!

Transparency
Customer Service
Application Process
Timeliness
See all answers
1 comment
Loans.com.au
Hayley G.Loans.com.au
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the rates are introductory only - after a year or two they bump your product to a rate that is way worse than the market

published
Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateNovember 2014
Loan used forInvestment Property
See all answers
1 comment
Loans.com.au
Hayley G.Loans.com.au

Hi Ian, we're sorry to see you left 1 star. We're always looking for feedback on ways we can improve our service. Please contact us at customercare@loans.com.au with any further questions or feedback you have.

bel

belFar North Queensland, QLD

  • 2 reviews

Honest, fast and helpful

published

Loan was settled today. I called on Monday and it was done and settled by Thursday enabling us to buy the car we wanted. Thanks for getting it through for us.

Transparency
Customer Service
Application Process
Timeliness
Loan Start DateFebruary 2020
See all answers
1 comment
Loans.com.au
Hayley G.Loans.com.au

Hi Bel, thank you so much for the 5-stars. We really appreciate you taking the time to leave your honest feedback. We are so glad to have helped you with your car loan for when you needed it!

Ben K

Ben KAU

  • 8 reviews

Bad customer experience, higher rates for existing customers

published

Avoid these guys, plenty of other lenders
Good 5 years ago, but do not communicate rate changes clearly, would not rectify their mistakes.Worst they have higher rates for existing customers now.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateFebruary 2014
Loan used forRefinancing
See all answers
2 comments
Loans.com.au
Hayley G.Loans.com.au
Ben K
Ben K
Todd

Todd

  • 2 reviews

18 months into 30 years

published

Best rate when we applied, but they don't pass on rate cuts to existing loans, only to new customers, now I'm refinancing away from loans.com.au as they are ~0.5% above the market price. They happily watch customers leave, take your loan to Athena the first time...

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateOctober 2018
Loan used forRefinancing
See all answers
2 comments
Loans.com.au
Hayley G.Loans.com.au
Todd
Todd
stven

stvenmelbourne

  • 2 reviews

A lot low rate then my previous bank

published

Was easy to change over from my old bank only a month or 2 wait which is normal. Good interest rate. Will see if they pass on the full rate cut as they failed to the last cut.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forRefinancing
See all answers
1 comment
Loans.com.au
Hayley G.Loans.com.au
Bree

BreeMetropolitan Adelaide, SA

  • 4 reviews

Its a fantastic rate, great customer service and was so easy to refinance on my own

published

this was the easiest refinance I have done with a lot of support when needed and has the best rate around, I tried a mortgage broker and he couldn't beat this rate and the process of doing the refinance on my own was easier and quicker than the broker

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateNovember 2019
Loan used forRefinancing
See all answers
1 comment
Loans.com.au
Hayley G.Loans.com.au

Hi Bree, thank you so much for the 5-star review. We pride ourselves on quick and simple service, so we're so happy to hear you had a great experience and got the best rates with us.

The reviewer stated that an incentive was offered for this review

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dpd

dpdGreater Melbourne (Inner), VIC

Competitive rate and good service

published

They have offered a competitive rate but the inspection changed didn't waivedoff.
No unexpected costs. Apllication process was easy and interactive with nice tool called ontrack.
Even we can directly call the case officer.
Overall experience was good.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan used forRefinancing
See all answers
1 comment
Loans.com.au
Hayley G.Loans.com.au

Hi there. Thanks so much for the 5-star review. We are so glad you found the application process easy and interactive, and felt comfortable with the OnTrack app. We appreciate your feedback!

The reviewer stated that an incentive was offered for this review

They were good initially, but then they got fat and greedy

published
Transparency
Customer Service
Loan TypeVariable Rate
1 comment
Loans.com.au
Hayley G.Loans.com.au

Hi there, we appreciate you taking the time to leave your honest feedback. Please contact us at customercare@loans.com.au with any further questions or feedback you have.

Sharon

SharonVictoria

Happy Customer

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan used forRenovation
See all answers
1 comment
Loans.com.au
Hayley G.Loans.com.au

Hi Sharon, we pride ourselves on offering quick and easy service and a great online app, so thanks for the honest and positive feedback. It was a pleasure helping you with your refinance and top up. We really appreciate the recommendation.

The reviewer stated that an incentive was offered for this review

Michael

MichaelGreater Melbourne (Inner), VIC

Rates will creep up after the initial low rate

published
Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
See all answers
1 comment
Loans.com.au
Hayley G.Loans.com.au
Sydneysider2020

Sydneysider2020Sydney, NSW

Terrible service -- don't even bother

published

They were really nice on the first call and pre-approved a loan for $30,000 after gathering a ridiculously set of documents (employment contracts, bank statements, payslips). And then, when I bought the car and needed only $26,000, they refused to give final approval because they wouldn't include part of the money in my employment contract (which was fixed for five years in the future). Nothing changed and they rescinded the approval.

Terrible company. Don't deal with them. I had to call them about 10 times and everytime going though a menu and talking to some very inexperienced person.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
See all answers
1 comment
Loans.com.au
Hayley G.Loans.com.au
Page 1 of 44

Questions & Answers

Jason Lim

Jason Limasked

Loans.com.au

Our homeloan - owners occupied with you are still 3.34%, it is no where near the advertised rate. why?

1 answer
Loans.com.au
Hayley G.Loans.com.au

Hi Jason, thanks for your question. Earlier this month we announced we are reducing our variable home loan rate by 0.25 percent for all existing customers, effective Thursday 26 March. We're always looking for feedback on ways we can improve our service. If you have any further feedback or questions please do let us know.

Hanna

Hannaasked

Loans.com.au

Does anyone know if they accept 1 year proof of bonus or do I need 2 years?
Thanks

1 answer
Loans.com.au
Hayley G.Loans.com.au

Hi Hanna, that depends upon your specific circumstances. For information specific to your financial situation please contact our Sales Team on 13 10 90.

Adam N.

Adam N.asked

Loans.com.au

Im looking at a car loan. Is the interest rate offered today locked in for the duration of the loan or can loans.com.au put Up the interest rate at any stage of the loan period?

2 answers
Loans.com.au
Hayley G.Loans.com.au

Hi Adam, all of our car loans are fixed rate so the rate does not change during the life of the loan.

Adam N.
Adam N.

Is the advertised interest rate of 4.89% what Ill be given if I apply today. I mean once I apply and loans.com.au give me approval. It won't be approved for say 8.0% interest? The 4.89% interest rate is exactly what I'm approved on? In other words, if I apply for the loan today can you guarantee that I'll only pay 4.89% on approval?

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

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