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loans.com.au
3.6 from 1,120 reviews · View Statistics
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Reviews

Previous
Next

Bad service

published

Discharging from Loans.com.au due to very high interest rates. The customer service kept changing originally agreed discharging date accusing another bank. Who is dishonest? Made complaint to AFCA. Trying to resolve discharging issues

Transparency
1/5
Customer Service
1/5
Timeliness
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forRefinancing
loans.com.au
Taryn C.loans.com.au

We're sorry you're unhappy with your experience and we'd like to look further into your case. Can you please email customerrelations@loans.com.au with your full name, account number and phone number, someone will be in touch with you 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
Anthony
AnthonySydney, NSW

Initial low interest rate will rise

published

I refinanced by mortgage several years ago with this company due to the much lower interest rate on offer. However this didn’t last & the interest rate crept up either due to them not passing on rate cuts or occasionally increasing their rate because of ‘addition funding costs’. As a result the interest is now higher than that my from my previous borrower.
It is also significantly higher than the interest rate being offered to new customers on their website.
I have no issue with the service I received in dealing with this company.

Transparency
2/5
Customer Service
4/5
Application Process
4/5
Timeliness
4/5
Online Tools
4/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateJuly 2013
Loan used forRefinancing
loans.com.au
Taryn C.loans.com.au

Hi Anthony, thanks for your honest review we appreciate your feedback. We'd like to review this for you. Can you please send through your full name, loan a/c number and mobile to loansolutions@loans.com.au and someone can be in touch shortly.

Adam
AdamWarnbro
  • 15 reviews
  • 9 likes

Great at first, then goes bad.

published

Excellent refinancing a few years ago. Very pleased. However interest rate cuts are not passed on and we were left with no option but to refinance with another lender at much better interest rates.

Transparency
2/5
Customer Service
4/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forRefinancing
loans.com.au
Taryn C.loans.com.au
Adam
Adam

Thanks but I've assisted myself by refinancing with a much better rate with another lender. Shame you only keep new customers happy leaving the existing ones unhappy.

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Daniel E
Daniel EGreater Melbourne (Outer), VIC

Terrible customer service and incorrect interest rate received

published
Transparency
1/5
Customer Service
1/5
Application Process
3/5
Timeliness
3/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forRefinancing
Martin Oldfield
Martin OldfieldMetropolitan Adelaide, SA
  • 2 reviews
  • 2 likes

Possibly the worst retail experience

published
Transparency
2/5
Customer Service
1/5
Application Process
1/5
Timeliness
1/5
Online Tools
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateNovember 2020
Loan used forRefinancing
loans.com.au
Taryn C.loans.com.au
Martin Oldfield
Martin Oldfield

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

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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Next
Mike
MikeSydney, NSW
  • 2 reviews
  • 1 like

very bad service once you convert your loan to them

published
Transparency
2/5
Customer Service
3/5
Application Process
4/5
Timeliness
2/5
Online Tools
4/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateMay 2015
Loan used forRefinancing
loans.com.au
Taryn C.loans.com.au
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.

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Laural
LauralSouth East Queensland, QLD

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

published

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!

Transparency
3/5
Customer Service
3/5
Application Process
2/5
Timeliness
3/5
Online Tools
3/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forRefinancing
loans.com.au
Taryn C.loans.com.au
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.au
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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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
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
Taryn C.loans.com.au
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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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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