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loans.com.au

loans.com.au (page 3 of 7)

Home Loans, Car Loans (See All)
3.7 from 1,280 reviews · View Statistics
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Martin Oldfield
Martin OldfieldMetropolitan Adelaide, SA
  • 2 reviews
  • 2 likes

Possibly the worst retail experience

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Martin Oldfield
Martin Oldfield

You've had about 4 weeks to "look into it". Empty promises again.

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She
SheSouth West, QLD
  • 2 reviews
  • 12 likes

Bank balance decline

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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...

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She
She

What I would like is a copy of the valuation report I paid for

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Hi there, we will refer your case to Customer Relations. Please email customerrelations@loans.com.au with your full name and application number and we will look into this further for you.

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Mike
MikeSydney, NSW
  • 2 reviews
  • 1 like

very bad service once you convert your loan to them

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Lentheric
LenthericGreater Melbourne (Inner), VIC
  • 2 reviews
  • 5 likes

No rate cuts, slightly lower rate offered for new customers only, even the big banks are offering better rates.

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Hi Lentheric, thanks for your detailed feedback. We'd like to escalate your case to customer relations, so if you could please send your full name, email address and loan account number to customerrelations@loans.com.au and we'll assist ASAP.

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Laural
LauralSouth East Queensland, QLD

Initially great! But haven’t passed on interest rate cuts! What’s the point??

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The customer service was great but I would no longer recommend. They didn’t pass on the interest rate cuts 3 times even though I was on variable. The point of being with them is that they have competitive rates but they are now higher then the big four. Disappointed!

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

Great for a new loan although for existing customers terrible.

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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.

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too much
too muchGreater Melbourne (Metropolitan), VIC
  • 3 reviews
  • 5 likes

Unethical, unhelpful and purely organised.

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John Liu
John LiuGreater Melbourne (Metropolitan), VIC
  • 3 reviews
  • 6 likes

Do not go with loans.com.au because they treat existing customers very bad

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John Liu
John Liu
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Shane
ShaneSydney Surrounds, NSW
  • 2 reviews
  • 3 likes

Happy Customer

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Tass
TassSydney, NSW
  • 2 reviews
  • 1 like

Follow up was a waste of time

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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

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Tass
Tass

What is your email address

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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

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Charley Zheng
Charley Zheng
  • 2 reviews

Like big banks, sucks you in and keeps rates high

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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.

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Brad B
Brad BSydney, NSW

Loans.com.au are scammers - beware..

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loans.com.au are notorious for gauging their existing customers. They suck in customers with a competitive ‘bait price‘ and then after 6 months will try every trick in the book to screw their exisiting customers for more money. In recent years this has been by achieved by either not passing on rate cuts or gauging their customers with rates hikes due to “increases in wholesale lending”. It’s funny that they don’t decrease home loan rates when wholesale lending costs come down like they did in 2019.
All customers with loans.com.au end up paying much much higher rates than the industry average. This is a terrible company with a disgraceful business model and I urge you to avoid this company at all costs.

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Brad B
Brad B
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whatelsewedo
whatelsewedo
  • 2 reviews
  • 1 like

Doesn't look after existing customer

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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..

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Lida L.
Lida L.Gungahlin 2912, ACT

Not Good Once You Become Their Customer

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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.

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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

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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

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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.

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Ben K
Ben K
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Todd
Todd
  • 3 reviews
  • 2 likes

18 months into 30 years

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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...

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Todd
Todd
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Bree
BreeMetropolitan Adelaide, SA
  • 8 reviews
  • 1 like

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

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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

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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.

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dpd
dpdGreater Melbourne (Inner), VIC

Competitive rate and good service

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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.

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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!

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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!

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Mark
MarkSydney, NSW
  • 8 reviews
  • 4 likes

Don't be fooled

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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.

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Alane
AlanePerth, WA
  • 6 reviews
  • 11 likes

Does not treat Existing Customers Fairly!!!

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I have been with loans.com.au for 4.5 years. They have consistently failed to pass on in full the RBA cash rate reductions. When I first joined them the gap between the RBA rate and my variable rate was 2.06%, but the gap to the RBA rate is now 2.57%. My rate is now 0.5% higher than the rate offered to new customers !!!! I challenged them on this and asked for a reduction but they gave me lots of poor excuses. I am leaving them. Do not sign up to this company, they will not look after you.

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Ray
RaySydney, NSW
  • 3 reviews
  • 5 likes

A little bit tricky

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

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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.

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