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loans.com.au

loans.com.au (page 2 of 3)

Home Loans, Car Loans (See All)
3.7 from 1,280 reviews · View Statistics
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Reviews

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Lionel W.
Lionel W.Greater Melbourne (Inner), VIC

Great for a new loan although for existing customers terrible.

published

I have been with loans.com.au for 5 years (home loan). Paid off 445k loan within 5 years of a 500k loan. As my 5 year interest only loan expired they would only give me a .2% reduction although a new loan would have been .7% less. Basically they don't care about existing customers but only new customers. I have now organised my home loan to go to another bank. Don't bother with them. There are heaps of other lenders that believe looking after their existing customers.

Application Process
2/5
Timeliness
2/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forInvestment Property
loans.com.au
Taryn C.loans.com.auSend a private message
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too much
too muchGreater Melbourne (Metropolitan), VIC
  • 3 reviews
  • 5 likes

Unethical, unhelpful and purely organised.

published
Transparency
1/5
Customer Service
1/5
Application Process
1/5
Timeliness
1/5
Online Tools
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateJuly 2019
Loan used forRefinancing
loans.com.au
Taryn C.loans.com.auSend a private message
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Sam
SamSydney Surrounds, NSW

Narrow-Minded

published
Transparency
5/5
Customer Service
1/5
Application Process
2/5
Timeliness
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateFebruary 2005
Loan used forSecond Home
loans.com.au
Taryn C.loans.com.auSend a private message
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Tass
TassSydney, NSW
  • 2 reviews
  • 1 like

Follow up was a waste of time

published

I followed up. Although my fixed rate is almost up (about 1% higher than variabke) I will still be charged a fee. They dont care if I leave. Customer care is zero

Transparency
1/5
Customer Service
1/5
Incentivised Review No
Loan TypeFixed Rate
Loan used forInvestment Property
loans.com.au
Taryn C.loans.com.auSend a private message
Tass
Tass

What is your email address

loans.com.au
Taryn C.loans.com.auSend a private message

Hi Tass, the best email for this is customercare@loans.com.au. Thank you

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Existing customers get high interest rates & poor service

published
Transparency
1/5
Customer Service
1/5
Application Process
1/5
Timeliness
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forInvestment Property
loans.com.au
Taryn C.loans.com.auSend a private message
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Charley Zheng
Charley Zheng
  • 2 reviews

Like big banks, sucks you in and keeps rates high

published

Joined 4 years ago. Rates kept on creeping up against benchmark. Recently tried to call to discuss rate change. After 12 days and 4 calls and two firm complaints to staff still zero response. I wanted to give them a chance to reduce the rates - which are now higher than the rates advertised by the big 4 - so that neither of us have to waste time changing. As one can expect, once you are a customer, you are treated poorly, and the rates will keep increasing to above the big 4.

Transparency
2/5
Customer Service
2/5
Application Process
4/5
Timeliness
4/5
Online Tools
3/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateJanuary 2014
Loan used forInvestment Property
loans.com.au
Taryn C.loans.com.auSend a private message
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whatelsewedo
whatelsewedo
  • 2 reviews
  • 1 like

Doesn't look after existing customer

published

First it attracts you with low interest rate and after becoming customer,loan.com.au treat us like we are nothing. I call them everytime when reserve bank cut interest rate but Everytime I here I am getting best interest rate blah..blah..blah . I am normal person and do not understand other than interest rate. My intreset rate is 3.22 variable now and my friend who went with other bank same time when both bank have same interest rate ,her interest rate is 2.69 variable only. What a shame..

Transparency
1/5
Customer Service
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forRefinancing
loans.com.au
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Russ L
Russ LPerth
  • 3 reviews
  • 1 like

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
3/5
Customer Service
3/5
Application Process
3/5
Timeliness
3/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateSeptember 2018
Loan used forRefinancing
loans.com.au
Taryn C.loans.com.auSend a private message

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
Taryn C.loans.com.auSend a private message

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.

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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
5/5
Customer Service
3/5
Application Process
1/5
Timeliness
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateNovember 2014
Loan used forInvestment Property
loans.com.au
Taryn C.loans.com.auSend a private message

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.

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Ben K
Ben KAU
  • 8 reviews
  • 3 likes

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
1/5
Customer Service
2/5
Application Process
3/5
Timeliness
1/5
Online Tools
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateFebruary 2014
Loan used forRefinancing
loans.com.au
Taryn C.loans.com.auSend a private message
Ben K
Ben K
Similar opinion? Write a review on ProductReview.com.au!
Todd
Todd
  • 3 reviews
  • 2 likes

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
1/5
Customer Service
1/5
Application Process
3/5
Timeliness
3/5
Online Tools
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateOctober 2018
Loan used forRefinancing
loans.com.au
Taryn C.loans.com.auSend a private message
Todd
Todd
Similar opinion? Write a review on ProductReview.com.au!
RoyK
RoyKSydney, NSW
  • 19 reviews
  • 18 likes

Not valuing existing customers

published

Generally once they got your business, they forget about you. The focus and good rates are only passed on to new customers. The catch is once you’re in, rate goes up. Customer care: uncontactable, only if you have a long time and relaxed nerves to wait on hold. Otherwise email, they get back to you in a few days. If you have fixed rate, forget about asking the break cost, they calculate the rate somehow that you never think about breaking your fixed rate which means you are stuck until the end of the fixed rate term.

Transparency
1/5
Customer Service
1/5
Application Process
1/5
Timeliness
1/5
Incentivised Review No
Loan TypeSplit
Loan used forSecond Home
loans.com.au
Taryn C.loans.com.auSend a private message
RoyK
RoyK

That’s good to know, but that is not the main Point of this feedback, or maybe you haven’t read it properly. it’s about the rate which you have not addressed. I think public needs to know what they want to get themselves in to.

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JuJu
JuJuGreater Melbourne (Inner), VIC
  • 5 reviews
  • 7 likes

Avoid - after almost 5 years with loans.com.au They do not give you the service you deserve!

published
Transparency
2/5
Customer Service
1/5
Application Process
4/5
Timeliness
4/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateJanuary 2015
Loan used forRefinancing
Similar opinion? Write a review on ProductReview.com.au!
Mark
MarkSydney, NSW
  • 8 reviews
  • 4 likes

Don't be fooled

published

The initial service, fees, and rates were good. Now they offer new customers much lower rates and blame funding tranches. Existing clients ripped off. They will not reply to emails. The service is shocking.

Transparency
1/5
Customer Service
1/5
Application Process
4/5
Timeliness
3/5
Online Tools
3/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateJune 2018
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!

Watch out - attractive interest rate and then....

published

Satisfactory customer service, however loans.com.au are very arrogant and unwilling to negotiate when interest rates become very uncompetitive (+0.75%) above their advertised rate! When approached and a review of the rate I was paying was requested, they refused! So ultimately I've switched to another institution. Watch out and do your homework - Not recommended.

Transparency
1/5
Customer Service
3/5
Application Process
3/5
Timeliness
3/5
Online Tools
3/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forRefinancing
Similar opinion? Write a review on ProductReview.com.au!
Aaron U
Aaron USouth East Queensland, QLD
  • 4 reviews
  • 5 likes

WARNING - Read the one star feedback first!! There is a very real difference between old and new customers comments.

published
Transparency
2/5
Customer Service
1/5
Application Process
2/5
Timeliness
3/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateDecember 2014
Loan used forRefinancing
Similar opinion? Write a review on ProductReview.com.au!
dee b.
dee b.Metropolitan Adelaide, SA
  • 3 reviews
  • 1 like

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
1/5
Customer Service
2/5
Incentivised Review No
Loan used forRefinancing
Similar opinion? Write a review on ProductReview.com.au!

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
1/5
Customer Service
1/5
Application Process
1/5
Timeliness
1/5
Incentivised Review No
Loan used forSecond Home
Similar opinion? Write a review on ProductReview.com.au!
Watermelonyk
Watermelonyk
  • 8 reviews
  • 3 likes

Inefficient non-transparent lack of service

published
Transparency
2/5
Customer Service
2/5
Application Process
2/5
Timeliness
1/5
Online Tools
3/5
Incentivised Review No
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!
Matt
MattGreater Melbourne (Outer), VIC
  • 2 reviews
  • 6 likes

BEWARE: Loyalty tax for existing customers. Access to lower advertised rates blocked! Date: Aug 2019

published
Transparency
2/5
Customer Service
3/5
Application Process
2/5
Timeliness
2/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forRefinancing
Similar opinion? Write a review on ProductReview.com.au!
Hans
HansCanberra 2600, ACT

They make direct debit from your account with no authorisation

published

They made a direct debit transaction on my loan account without noticing me or getting my authorisation which is illegal and it is to a different person's account. Called crime stopper and the other bank who said will investigate but got no reply from Loans com au for more than 48 hours still. Will make formal complaint.

Transparency
1/5
Customer Service
1/5
Application Process
1/5
Timeliness
1/5
Online Tools
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateApril 2019
Loan used forRefinancing
Similar opinion? Write a review on ProductReview.com.au!
Michael Michell
Michael MichellAdelaide
  • 2 reviews
  • 2 likes

Paid for a valuation and then declined loan

published

During the loan process, Loans.com.au requested a valuation of the property (our up front cost) and then subsequently denied the loan. Is this a normal practice or just unique to this company?

Transparency
1/5
Customer Service
1/5
Application Process
1/5
Timeliness
1/5
Online Tools
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!
Llewellyn E.
Llewellyn E.Sydney, NSW
  • 7 reviews
  • 3 likes

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

published

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….

Transparency
1/5
Customer Service
4/5
Application Process
3/5
Timeliness
3/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forRefinancing
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Good Rates to start with but as an existent customer, I pay more that new

published

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!

Transparency
1/5
Customer Service
4/5
Application Process
4/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateJuly 2017
Loan used forRefinancing
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JeanneH
JeanneHPerth, WA

Quick initial turnaround and competitive rates but will shaft you post settlement

published
Transparency
1/5
Customer Service
1/5
Online Tools
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forSecond Home
Similar opinion? Write a review on ProductReview.com.au!
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