From June, 27th, 2016 until July, 1st, 2020 Loans.com.au was offering a $30 Wish voucher to their customers to encourage them to write a positive or a negative review. It is possible that reviews below have been written by customers who received such a reward. These reviews adhere to ProductReview’s Incentivised Customer Reviews Guidelines and may explain a spike in review numbers.
Moving goalposts and clunky service model
Was tempted by the rate- would be fine if you have ample time and over 40% LVR. Found that the service model is call centre based and you will have at least 3 “reps” through the process lots of repeating yourself, paperwork going missing and takes you to drive the process. Also to note they make you pay for your own valuation (unlike the big 4) and they don’t lend to outside city centres. The team were always friendly but got the impression they feel very hamstring also by the inflexibility of their process. Ended up changing providers and had other competing priorities during the buying process, not worth the extra drama for the 0.10% interest rate difference. Would like to have supported a smaller business but yeah…
stick with the real banks...
they threatened to freeze my account because I fully offset my loans.
they also made discharging my loan so difficult. no forms available online, I had to call them up and go through the rigmorale with their retention process and taking way longer than normal banks. really unhappy with the process.
Very good customer service
Received very prompt customer service from this company. Interest rate is very competitive for investment property. They didn't ask for unnecessary information and processed loan in timely manner with no hassle.
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
SMSF Invest Property Loan refinance
Wonderful man I spoke to originally. I tried to refinance my loan from StGeorge to a more competitive rate. This company has only just started taking applications for these types of loans. Their portal is clunky at best. I had promises broken, bad updates from many different staff (usually a different staff member each time ). I eventually got sick of waiting.... from the application being taken, I got up to over 5 weeks with still no answer. Up to 9 weeks now and still haven't got to settlement . I don't think this company is capable to arrange this specific type of finance, even though they advertise it and that the process is easy. I haven't done many things that are harder.
Happy with Customer Service!
I was on the phone today with Emma from Customer Care regarding an interest rate review on my existing investment loan. I was initially unsure of how to open up with my queries ie. what is the best interest rate reduction they can give me?, how much difference will it make to go for other loan setups (var/ fixed)?, am I even eligible to get a different rate? etc etc. So many what-ifs going through my mind and so little knowledge on the topic (I'm obviously not a real estate expert). TBH I was surprised how many options I had and at how easily my options were explained to me. I 100% recommend these guys for giving quality customer service and also for staying competitive.
Thanks to Jessica (Personal Lending Specialist) and Jordan (Support Officer) my investment loan refinance was completed in just over three weeks. The customer service and efficiency provided exceeded expectations and would not hesitate to recommend Loans.com.au to friends and family.
Great Customer Service!
The whole process of pre-approval to settlement is seamless and quick, unlike the Big 4. This is my 3rd Home Loan transaction with www.loans.com.au
My lending Manger Brodie and Support Officer Sharney went above and beyond to assist me with any queries I had. Both were absolutely prompt and always approachable and assisted me right from initial query for a home loan to settlement.
Very happy with the whole process. Look forward to work with Brodie and Sharney again next year and beyond. You guys are truly amazing.
Thank you so much for your support.
- Home Loans
Initial low interest rate will rise
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.
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!
Refinance from 1 of Big 4
We were very apprehensive from the start after being with one of the big 4 for many years...the whole process from start to finish was simple with the "On Track" app...we now have a great rate...if you are considering changing your home loan "JUST DO IT" and kick the big 4 to the Kerb..Thanks Loans.com.au..
Great friendly service, no issue to small to be dealt with efficiently
From our first contact with Loans.com we received excellent service, there was help available each set of the way. I think it would have taken half the time to arrange the loan when compared to a traditional lender. Easy to use portal and great interest rates.
Terrible company glad to be gone.
Was with them for over 4 years. Horrible rate hikes out of step with the RBA. Then not even passing on the rate cuts. So glad to be out, but they made refinancing difficult.
refused any loan
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
So simple, didn't lead me one with promises
Fast and friendly. Didnt give me approval and then keep asking for more and more docs like other banks. Was simple online and if you need help they have an easy call line. I cant fault them this was by far the simplest loan I have ever applied for. Was approved within a week and mortgage is ready to be signed and exchanged with old bank. Give them a try Jazmin and Sharney were amazing and helped every step of the way.
Questions & Answers
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!
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 email@example.com with your full name and phone number, and someone from our lending team will be in touch with you shortly.
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
Go on web site no set up fees UBank is offering a better rate of fixed 1.75%
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.
Get an answer from our members and loans.com.au representatives
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