As part of the loan approval process, lenders require a property valuation to be conducted on the property of interest. What loans.com.au does is get you to pay for the property valuation, but they refuse to release the report which YOU paid for. What is the explanation for this??? If we pay for something, we should be entitled to it.

They hook you up with sugar low rates, then once you sign up they will increase the rates and will inform you those advertised rates are only for "new" customers. Disgraceful.

On 30 Min Call i provide all details and got pre-approval and after pre approval now they taking me round and round in circle. Things they required me over the fone have been provided but now they want more and more and more. not impress at all.

The so called "lending specialist" advised me to only list one of my permanent part-time jobs ($45,000 p.a.) on my application, as he said it got me my pre-approval and would make my application less complicated than if I listed both of my permanent part-time jobs (which brings my earnings to $70,000 p.a.). Two days later, after I (at the advice of loans.com.au) put a $500 deposit down on a car, the "lending specialist" gets in touch with me to tell me my loan was not approved because I didn't earn enough! By the way, this was for $400 / month ...

Comparing loans and this company came top list of being a good company, I can say they are just interested on getting information but not in lending money. Car value 40k with a deposit of 25k cash. I consider having a good credit with no faults and only one credit card for 8 years with no balance, score around 770, with $2000 a month free after paying bills to pay a car monthly repayment and they said I can not pay $340 a month for 4 years for the car, so will just pay car outright.

Always disappointed that this company gives so much better rates to new customers. Existing customers lose out unless they go through all the hoops of negotiating a better deal.......writing this review as I remain 9th in the queue to speak to a customer service representative!!!!!!

Loans.com.au have taken away the ability to view the interest rate being charged on your loan accounts. Previously this was always visible on their online banking platform through the account details section. Now account details shows basic account information but no longer tells you what interest rate you are being charged. There is only one possible reason for the removal of this information - to make it even more difficult for customers to know what rates they are paying and to compare them to the market. You would think in the wake of the r...

Initial contact started well but all down hill from there. 2nd Sales consultant incorrectly filled in application that we were renting even though she asked if we were home owners and what was the monthly mortgage amount. She then proceeded to put the wrong name on the application. She then pre approved us for $30,000 more than we asked for. 3rd consultant takes over and then shows concern that I had been on work cover so sent them return to work and Doctors letter explaining that I was back to work in a full capacity. This satisfied their conc...

Loans.com.au accessed my credit reporting information during the pre-approval stage which obligates them to the Privacy Act of 1988. They then failed to meet their legislative obligation as a responsible credit provider by not providing me with a written notice of refusal, pursuant to the following 2 sections;

* Privacy Act 1988 - Section 21P, (1), (a) "a credit provider refuses an application for consumer credit made in Australia:", (i) by an individual"
* Privacy Act 1988 - Section 21P, (2) “the credit provider must, within a reasonable peri...

Pre approval was given based off the annualised salary amount on the payslip, not the year to date figures of what was actually earned (which was obviously a percentage of that). Upon wanting to go ahead, told we couldn't because 'finance' says it wasn't enough.

Do not sign up with Loans.com.au, it is a scam and not worth the money or time!

Rates were very competitive when i first signed up 3 years ago, however after a few out of cycle rate rises and RBA rate cuts (not passing on), this my current rate is barely comparable even to the big 4. My loan rate is not even close to what is being advertised by Loans.com.au

Seems to me the strategy is to sign you up and hope you cant be bother to leave.
To be honest, i dont even understand why anyone would sign up with these guys now with other similar compan...

I haven't received the interest rate received I was promised which was 1.99% for all my loans. There was clearly a mistake on their part as I have 3 loans, all now with different interest rates, despite been offered 1.99% which is also detailed on their website. The loans have now settled and they have basically told me there is nothing that can be done. They have formally responded saying they have listened back to my call and 1.99% was never offered, despite when I initially raised my complaint the team member placed me on hold to listen back...

Firstly the positives - the application and settlement process went fairly smoothly, however from there it has been a downhill slope. They get you in on a good rate and then fail to pass on many of the RBA cuts so you end up on a Big 4 bank rate which largely defeats the purpose of going with them in the first place. When you query your rate you deal with someone in their Loan Solutions team who has little authority to give you anything and then when you go higher up the chain you are given the usual blurb about tight funding margins (isn't t...

I have discussed my credit history and the loan details with their so call loan specialist because I don't want any credit enquiry if any issue, she said everything is good to go. I have applied but declined, when I have asked for reason for decline, they are saying as per guidelines it is declined but not sharing any reason. My credit report is being ruin because of their incompetence. They charged for property valuation $220 that no other lender i.e NAB, CBA, ANZ etc is charging. They said will refund $220 but after one week, but why?

From start to almost finish - this has been one of the worst retail experiences I have endured. I have arranged three loans to be refinanced with this crew and the Apps and electronic support have failed (despite several calls to fix it), information requests (typically via the app) have been duplicated and even when messaged have not been removed (potentially slower settlement), the support member allocated to my deal simply doesn't listen. Conversations for Third Party access suddenly stopped. Generally expect different answers from staff m...

How can your income, credit check, deposit & valuation be approved, then you get declined because your bank balance will only be $5800 once your deposit is paid... shouldn’t a loan be approved based on your affordability to pay not your bank balance...

Loans.com.au attract new customers with low rate to start, but once you become their customer, they will ignor your request for refinance, or provide better mortage rates, or discharge forms request. We signed up with loans.com.au since mid 2015, after one year lower rate fix, our fix rate or variable rate has been always more than 1% higher than the equivilent new customer's rate. We requested numerous time, they would not do anything about it. Upon we request to discharge, they keep delay in more than a week to send out discharge form.......

I have an investment and owner occupier loan. Their customer service is terrible (can't even get my name right in responding to an email!) and I had real issues with the final approval process. Their rates used to be competitive, I asked for a rate review and was refused one the first time, then offered 0.03 on only the investment loan. The difference between what a current customer will pay and what you pay as a loyal customer is significant and when I asked if they were happy for me to refinance I was told they don't really care if I go els...

Fail to pass on rate cuts to existing customers, got in touch with them to ask if they'd consider passing on the cut, unfortunately they said no. Currently looking to re-finance. In fact the last .10% reduction (November 3rd 2020) hasn't even been acknowledged - as in no message to say they would or wouldn't be passing on......."ignore and it'll go away".

When I joined with Loans.com.au about two years ago they had one of the lowest rates available. Being an online only lender it allowed them to keep rates low as their overheads were much lower than the big banks (something they would mention quite frequently on their website and in discussion with their lending managers). Fast forward two years and even the big banks are offering better rates than what Loans.com.au is offering! I contacted the Loans Solutions team to try get a better rate or even to match the new customer rate which is slightly...