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loans.com.au

loans.com.au (page 2 of 2)

Home Loans, Car Loans (See All)
3.6 from 1,139 reviews · View Statistics
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Reviews

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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
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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
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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
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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
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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
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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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Stay far away from this bait

published

Do not expect to get the rates advertised on the website. Thats not what you will be on just a few months after. Completely disappointing experience for me. Learn from my mistake.

Transparency
3/5
Customer Service
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forFirst Home
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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!
Rosemary N
Rosemary NAU
  • 9 reviews
  • 12 likes

[Bad] operation

published

Lure you in with low rate, then raise it after you are with them while no one raise rate. Dodgy documentation fee of 250 for discharge , not sure if this is even legal. Pathetic retention team. The whole operation is basically using existing customers money to fund new customer discount. If old customer dont leave, they are profitable. If they leave, they got sludged with expensive fees. Stay away. There are better lenders out there.

Transparency
1/5
Customer Service
1/5
Application Process
4/5
Timeliness
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forFirst Home
Similar opinion? Write a review on ProductReview.com.au!
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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!
Loans

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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
Similar opinion? Write a review on ProductReview.com.au!

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
Similar opinion? Write a review on ProductReview.com.au!
Pinnacle2050
Pinnacle2050Sydney, NSW
  • 2 reviews
  • 4 likes

They do not know the meaning of Loyalty

published

After with them for more than 5 years and them not willing to review their rates for existing customers, I would say they do not know the meaning of Loyalty or there is no such word as Loyalty in their dictionary. If you are planning to take out a loan with them, be warned. They may offer you a very good rate initially. But once you are sucked in and review your interest even after a year with the interest offered to new customers there will be significant difference.

Transparency
1/5
Customer Service
4/5
Application Process
4/5
Timeliness
4/5
Online Tools
4/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateJune 2013
Loan used forFirst Home
Similar opinion? Write a review on ProductReview.com.au!
Patrick
PatrickSouth East Queensland, QLD

Worst online lender - no rate cut yet

published

While all other lenders have reduced their rates following RBA decision. LoansComAu is still reviewing how much to reduce its by - just ridiculous. I have been a customer for over 5 years and know first hand their false promises. They attract new customers with low rates and then quickly increase it to make more money!!! Time to refinance.

October 4th 2019 Update: Always the last lender in Australia to pass RBA rate cuts!! Only concerned about profits!!!

Customers affairs comes last for these guys. While all lenders passed on cuts, they are still deciding (or making huge profits by not passing rates cuts). I’m switching to Athena!!

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 forFirst Home
Similar opinion? Write a review on ProductReview.com.au!
HIA
HIASydney, NSW
  • 8 reviews
  • 6 likes

Rate creep after settlement - set & forget existing customers

published

I had been with Loans.com around 4 years, at one stage even with 2 different loan rates (gap of 0.24%) for same product, while a month later they even dropped further to 3.49 (ie. trap to new customers). Rates keeps increasing for existing customers even when market is going down, so in short - they only target new customers with discounted lower rate at the expense of exsting ones (with higher rates). looking for refinance options (with tic:toc or Athena seems to be better option)

Transparency
1/5
Customer Service
2/5
Application Process
3/5
Timeliness
3/5
Online Tools
3/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateAugust 2015
Loan used forFirst Home
Similar opinion? Write a review on ProductReview.com.au!
kiwi3
kiwi3Sydney, NSW
  • 8 reviews
  • 6 likes

Variable rate goes up, not advertised rate once you are a customer.

published
Transparency
1/5
Customer Service
1/5
Application Process
3/5
Timeliness
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateOctober 2015
Loan used forFirst Home
Similar opinion? Write a review on ProductReview.com.au!

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
Similar opinion? Write a review on ProductReview.com.au!
Dmitry
Dmitry
  • 2 reviews
  • 1 like

Discoordinated, unprofessional, waste of time

published
Transparency
1/5
Customer Service
3/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forFirst Home
Similar opinion? Write a review on ProductReview.com.au!
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