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loans.com.au

loans.com.au (page 2 of 2)

Home Loans, Car Loans
3.6 from 1,118 reviews · View Statistics
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Reviews

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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.au

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.

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.au
Ben K
Ben K
Todd
Todd
  • 2 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.au
Todd
Todd
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.

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JuJu
JuJuGreater Melbourne (Inner), VIC
  • 4 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
Mark
MarkSydney, NSW
  • 7 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

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

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Next
Aaron U
Aaron USouth East Queensland, QLD
  • 3 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
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
Loans

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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
Watermelonyk
Watermelonyk
  • 7 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
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
Loans

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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
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
Llewellyn E.
Llewellyn E.Sydney, NSW
  • 6 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

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
Birnie
Birnie
  • 2 reviews
  • 2 likes

Appallingly bad!

published

Got a construction loan to finish a renovation. Great service selling us on the loan but rubbish from then on. Twice "lost" redraw funds, can't count, zero answers. Massive regret!

Transparency
1/5
Customer Service
1/5
Application Process
4/5
Timeliness
1/5
Incentivised Review No
Loan TypeSplit
Loan Start DateSeptember 2018
Loan used forRenovation
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

Incompetent

published

Pulled my pre and post approved financing from under me at the eleventh hour leaving me financially exposed, I was upfront and honest about every aspect of the property from the first phone conversation. They have completely wasted my time and I'm potentially $55,000 out of pocket with no recourse.

Transparency
1/5
Customer Service
1/5
Timeliness
1/5
Online Tools
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateFebruary 2019
Loan used forInvestment Property
PeachyMiss
PeachyMissBrisbane

Sham lenders!! Avoid at all costs!

published
Transparency
1/5
Customer Service
1/5
Application Process
1/5
Timeliness
1/5
Online Tools
3/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateAugust 2017
Loan used forSecond Home
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