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loans.com.au
3.6 from 1,118 reviews · View Statistics
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Reviews

Previous
Next

Avoid

published

Positive: good rates. Negative: losing track of submitted documents; poor communication internally and with client; inadequate, confusing and slow requests for information. Had the appearance of poor systems supporting the staff, and had to pro-actively manage them during the application process.

Customer Service
1/5
Application Process
1/5
Timeliness
2/5
Online Tools
1/5
Incentivised Review No
Loan used forFirst Home
loans.com.au
Taryn C.loans.com.au

We're sorry to hear you're unhappy with your experience. We'd like to look further into your case. Can you please email sales@loans.com.au with your full name, mobile number and email address, and someone from our team will be in touch shortly.

CeeJay
CeeJaySouth East Queensland, QLD
  • 7 reviews
  • 15 likes

Not a happy experience

published
Transparency
1/5
Customer Service
3/5
Application Process
1/5
Timeliness
1/5
Online Tools
3/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateJuly 2021
Loan used forFirst Home
loans.com.au
Taryn C.loans.com.au
CeeJay
CeeJay

Email has been sent

CeeJay
CeeJay
George
GeorgeSouth East Queensland, QLD

Terrible company

published

The worst home loan we have ever had! Hopefully we can refinance these thieves soon! They offered us good rates then 6 months after they lifted their home loan rate to over 3%! They advertise 2.46% but hey charge us 3.02%!!! They are the biggest scam on the Aussie home loan market! Nobody should deal with companies like loans.com.au!

Transparency
1/5
Customer Service
1/5
Application Process
1/5
Timeliness
1/5
Incentivised Review No
Loan Start DateJanuary 2021
Loan used forSecond Home
loans.com.au
Taryn C.loans.com.au

Hi George, thanks for leaving feedback. We'd like to look into this. Please send us an email with your full name, loan a/c number and mobile number to customercare@loans.com.au and we will look into this for you and see what we can do to assist.

George
George
loans.com.au
Taryn C.loans.com.au

refused any loan

published

Application was poor.
They Wont accept securely funded disability Applicants
Previously had home loan in passed via another organisation.
My advice is to take your business else where. e e

Customer Service
1/5
Application Process
1/5
Timeliness
1/5
Incentivised Review No
Loan used forSecond Home
loans.com.au
Taryn C.loans.com.au

Hi Rodney, we're sorry to hear about your experience. If you have any further comments, please send this through to customercare@loans.com.au

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Dan
DanGreater Melbourne (Inner), VIC
  • 4 reviews
  • 8 likes

Terrible Product, feels like I got SCAMMED

published
Transparency
1/5
Customer Service
1/5
Application Process
1/5
Timeliness
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateJanuary 2017
Loan used forSecond Home
loans.com.au
Taryn C.loans.com.au
Mark B.
Mark B.Greater Melbourne (Metropolitan), VIC

Non Bank Lender becomes a Bank!

published
Transparency
1/5
Customer Service
2/5
Application Process
4/5
Timeliness
3/5
Online Tools
3/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateDecember 2019
Loan used forSecond Home
loans.com.au
Taryn C.loans.com.au
She
SheSouth West, QLD
  • 2 reviews
  • 7 likes

Bank balance decline

published

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...

Transparency
1/5
Customer Service
1/5
Application Process
1/5
Timeliness
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forFirst Home
loans.com.au
Taryn C.loans.com.au
She
She

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

loans.com.au
Taryn C.loans.com.au

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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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.

published
Transparency
1/5
Customer Service
3/5
Application Process
4/5
Timeliness
3/5
Online Tools
3/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateDecember 2018
Loan used forFirst Home
loans.com.au
Taryn C.loans.com.au

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.

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

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

published
Transparency
1/5
Customer Service
1/5
Application Process
1/5
Timeliness
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateOctober 2017
Loan used forFirst Home
loans.com.au
Taryn C.loans.com.au
John Liu
John Liu
Loans

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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.au
Brad B
Brad BSydney, NSW

Loans.com.au are scammers - beware..

published

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.

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 DateFebruary 2018
Loan used forFirst Home
loans.com.au
Taryn C.loans.com.au
Brad B
Brad B
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
3/5
Application Process
2/5
Online Tools
4/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateDecember 2016
Loan used forFirst Home
loans.com.au
Taryn C.loans.com.au
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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.au
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.

Alane
AlanePerth, WA
  • 6 reviews
  • 11 likes

Does not treat Existing Customers Fairly!!!

published

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.

Transparency
1/5
Customer Service
1/5
Application Process
3/5
Timeliness
2/5
Online Tools
2/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateAugust 2015
Loan used forFirst Home
Ray
RaySydney, NSW
  • 3 reviews
  • 5 likes

A little bit tricky

published
Transparency
1/5
Customer Service
4/5
Application Process
3/5
Timeliness
4/5
Online Tools
4/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forFirst Home
Page 1 of 2

Questions & Answers

Optimist
Optimistasked
Home Loans

Thank you @CeeJay for your review. I wish I had seen this sooner as I am facing the same delays and issues with my home loan application. I’m not confident they will come through even though My case is simple and straightforward with all docs submitted. Definitely should avoid loans.com.au!

1 answer
loans.com.au
Taryn C.loans.com.au

Hi there, we're sorry to hear you're unhappy with your experience. We'd love to look into your case further. Can you please email sales@loans.com.au with your full name and phone number, and someone from our lending team will be in touch with you shortly.

Anna
Annaasked
loans.com.au

Hi, I currently have a home loan with a credit union in Sth Australia. I have approx $190,000 still owing (with $70,000 in a re-draw account). Without the re-draw, the amount owing would be $260,000. My current interest rate is 2.99%. I saw your advertised rate of 1.99% and wondered if I could re-finance my Home Loan with your company instead? There are no exit fees with my current loan. What would the set up fees be to do this please? Thanks, Anna

1 answer
Brian
Brian

Go on web site no set up fees UBank is offering a better rate of fixed 1.75%

fahqteam
fahqteamasked
loans.com.au

When will we find out about rate cuts? I must add I’ll be very disappointed if it isn’t passed on and passed on in full.

No answers
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