- Sign in
- Write a review
10/10 for customer service. Great rate for refinance of my home loan. Laura was friendly, efficient and easy to deal with. The onTrack portal ensures transparency and is user friendly.
- 2 reviews
Have actively taken steps to make it more difficult for customers to compare interest rates
Loans.com.au have taken away the ability to view the interest rate being charged on your loan accounts. Previously this was always visible on their online banking platform through the account details section. Now account details shows basic account information but no longer tells you what interest rate you are being charged. There is only one possible reason for the removal of this information - to make it even more difficult for customers to know what rates they are paying and to compare them to the market. You would think in the wake of the r...
Read moreoyal commission lenders would have stopped playing these sorts of games. I've been a customer for almost 15 years and have noticed a steady decline in competitiveness (for existing customers) and service. Unimpressed.Hi there, to find the interest rate on your loan accounts, you need to log in to Smart Money, click manage, account and account details. We will always want this information to be visible for our cust...
Read moreomers to see. Please let us know if you have any issues seeing your interest rate after following the above steps via customercare@loans.com.au or 13 10 90 and we'll assist you.Fantastic service with excellent advice to suit our situation, nothing was too difficult and easy to understand
Our lending manager offered fantastic service with professional advice to suit our situation. She was clear and concise with her information and helped us through the application process and as such we found this to be simple. It's great to get through to a human not an automated machine when you need to contact them. Highly recommend the service and competitive rates.
Hi there, thanks so much for your review. We're so glad you had a great experience with loans.com.au for your investment property.
Customer service is amazing. Jazmin is very friendly, accommodating, professional and a pleasure to work with. Jazmin is also very knowledgeable about everything to do with loans, any questions asked are answered excellently.
Highly recommend loans.com.au and jazmin for home loans.
Thanks for your feedback Sophie we appreciate it! We'll share this with Jazmin and the team.
Find out how loans.com.au compares to other Loans
Know better, choose better.
The process to get a a home loan with Lani form Loans.com.au was quick and simple. The service was consistent, friendly and professional. We are very satisfied with the outcome !!
Thanks Mark for taking the time to leave your feedback. We'll share this with Lani and the team.
Lani Nicholas home loan manager: Cant say enough about her. It has been a year since i last spoke to her about a home loan a year ago, i was looking at buying a home again and she rung me and was extremely polite and helpful yet again with all my enquires.
Thanks for your wonderful review Brad! We'll share this with Lani and the team.
Andrew provided the best customers service . He knew what he was doing and was on the ball all the time. I would definitely go through Andrew and his team again
Thanks for your kind words Justin! We've just shared this with Andrew and the team.
Related Articles
- 4 reviews
- 8 likes
Do not sign up with Loans.com.au, it is a scam and not worth the money or time!
Rates were very competitive when i first signed up 3 years ago, however after a few out of cycle rate rises and RBA rate cuts (not passing on), this my current rate is barely comparable even to the big 4. My loan rate is not even close to what is being advertised by Loans.com.au
Seems to me the strategy is to sign you up and hope you cant be bother to leave.
To be honest, i dont even understand why anyone would sign up with these guys now with other similar compan...
Hi Dan, we're sorry to hear about your experience and we are disappointed to hear you feel that way. We'd like to escalate your case to our loan solutions team, so please send your full name and loan ...
Read moreaccount number to loansolutions@loans.com.au and we'll do what we can to assist.- 2 reviews
Firstly the positives - the application and settlement process went fairly smoothly, however from there it has been a downhill slope. They get you in on a good rate and then fail to pass on many of the RBA cuts so you end up on a Big 4 bank rate which largely defeats the purpose of going with them in the first place. When you query your rate you deal with someone in their Loan Solutions team who has little authority to give you anything and then when you go higher up the chain you are given the usual blurb about tight funding margins (isn't t...
Read moreheir funder their parent company) and offered fixed rates which when you delve deeper have high revert rates at the end of the fixed term period. I wonder if they will pass on increases in RBA rates when they eventually happen? I think they work off the theory that the majority of customers can't be bothered to move so they make profits however poorly they treat customers. The high number of 1 star reviews shows I am not alone in my thinking. For those looking at non bank lenders I would give Reduce Home Loans, HomeStar Finance or Athena Home Loans a go - their rates are far more competitive. I was subsequently offered a review of my rate which I accepted by emailing the Loan Solutions team, however I never received a reply - at least the service is consistent.Hi Mark, as mentioned in the private mediation, we appreciate you taking the time to list the positives of your experience with us. We also appreciate the constructive feedback. As we can see you have...
Read more spoken with our Loans Solutions team already, so if you can send us your full name and email address, we can follow them up on the status of your review. If you have any further questions, please do feel free to reach out to us at customercare@loans.com.au.Find out how loans.com.au compares to other Loans
Know better, choose better.
- 2 reviews
I dealt with Nicholas Brown who couldn’t have been more helpful, flexible and customer caring. He made the process so incredibly easy. I would highly recommend loans.com, particularly Nic as a consultant.
Hi Nikki, thanks so much for your wonderful review. I'll pass this on to Nick and the team!
- 2 reviews
I have discussed my credit history and the loan details with their so call loan specialist because I don't want any credit enquiry if any issue, she said everything is good to go. I have applied but declined, when I have asked for reason for decline, they are saying as per guidelines it is declined but not sharing any reason. My credit report is being ruin because of their incompetence. They charged for property valuation $220 that no other lender i.e NAB, CBA, ANZ etc is charging. They said will refund $220 but after one week, but why?
Hi there Ali, thanks for your feedback on your experience. We will refer your case to Customer Relations to see how we can assist. Please email customerrelations@loans.com.au with your full name and a...
Read morepplication number and we will look into this further for you.I have sent my details to your customer relations email as you suggested but no one even replied to my email as I knew. Also I can see you guys added many 5 star fake reviews since 3-4 original bad reviews. Disgusting!!!!!
Hi Ali, I have checked in with the customer relations department - would you be able to please provide your name so we can refer to your email and see how we can assist ASAP.
We are concerned by you...
Read morer comments as we would never add fake reviews as we always strive for genuine and honest feedback from our customers to see how we can improve. Also, the Product Review team ensures only quality reviews are published and have an algorithm which automatically identifies & blocks suspicious content, whether it’s from bots, or employees placing fake reviews. If you have any further queries on the legitimacy of the reviews on this platform, you might find this article helpful: https://support.productreview.com.au/hc/en-us/articles/360001254656- 2 reviews
- 12 likes
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...
Hi there, we're sorry to hear about your experience. At loans.com.au, we assess each application against our credit policy which abides by responsible lending guidelines. If you'd like to discuss the ...
Read moreparticulars of your specific situation, please send us an email with your full name to customercare@loans.com.au.What I would like is a copy of the valuation report I paid for
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.
Find out how loans.com.au compares to other Loans
Know better, choose better.
- 2 reviews
- 5 likes
- Home Loans
- Verified
No rate cuts, slightly lower rate offered for new customers only, even the big banks are offering better rates.
When I joined with Loans.com.au about two years ago they had one of the lowest rates available. Being an online only lender it allowed them to keep rates low as their overheads were much lower than the big banks (something they would mention quite frequently on their website and in discussion with their lending managers). Fast forward two years and even the big banks are offering better rates than what Loans.com.au is offering! I contacted the Loans Solutions team to try get a better rate or even to match the new customer rate which is slightly...
Read more less than what existing customers are on. I got told I can't but I could get a fixed rate loan for 2 years at what other lenders are offering for their variable rates. Here are some points that make that unattractive to me: 1). Commbank has a four year fixed rate @ 1.99% if I wanted to go fixed. 2). RBA has said the rate will not increase for the next 3-4 years, so there is no reason for me to go fixed when the only way the rate can go is down in the next few years if it does move. 3). Athena home loans and some others are offering variable interest rates at around 2.19% which is a lot better than your 2.63%. 4). Loans.com.au fixed rate loan terms are terrible. a). Interest rate is slightly higher than what some other lenders are offering for variable rates. b). Interest rate is significantly higher than what other lenders are offering for fixed rates. c). You lose any existing discount which means once the 2 years is up, you jump to an even higher rate.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.
I have been with loans.com.au for 5 years (home loan). Paid off 445k loan within 5 years of a 500k loan. As my 5 year interest only loan expired they would only give me a .2% reduction although a new loan would have been .7% less. Basically they don't care about existing customers but only new customers. I have now organised my home loan to go to another bank. Don't bother with them. There are heaps of other lenders that believe looking after their existing customers.
Hi Lionel, thank you for taking the time to leave your feedback, we appreciate it. We will pass this on to the appropriate team and see what we can do to improve. If you have any further feedback, ple...
Read morease feel free to send it to customercare@loans.com.au, ensuring you include your full name and account number so we can trace it back to your individual situation.- 3 reviews
- 6 likes
As is the case with many borrowers with loans.com.au, I was enticed by the initially low rates. However, the lender raised rates a number of times, even when the Reserve Bank didn't raise rates. When the Reserve Bank drop, they do not pass the full interest rate cut to me. Instead they pass it on to new customers. If you look at the interest rate they are giving to new customers, there is a difference of 0.34%.(they are currently giving new customers 2.57%, but they are giving me 2.91% for exactly same owner occupier product) I have contacted...
Read more loans.com.au to see if they can match my interest rate with new customers. They said they cannot because the funding is different as they keep finding excuses. When they increase the interest rate for me, they keep saying it's associated with funding costs. But it's hard to believe because other banks are not doing what they are doing to their existing customers. Not sure if this is loan sharking?Hi John, as mentioned in our private mediation, we have escalated your case to Customer Relations for review. If you haven't done so already, and in order to protect your security would you please ema...
Read moreil Customer Relations providing your Loan A/c number and provide any other information to assist our assessment of your query at customerrelations@loans.com.au.Hi Hayley,
Thank you very much for your reply. After reading your reply, I have emailed customerrelations@loans.com.au and provided them the information. However I still haven't heard any reply. Jus...
These people have no clue of what is going on in the outside world or pay attention to particular circumstances like the big 4 banks do... All they see is you owe me this and then send out an old guy on a motorbike to drop off a letter haha good one. I've called 5 times once a week and all I get is, "someone will call you back tomorrow".
Just remember I have paid off the whole loan in interest only! and now I have lost my job and you want 6k.. all banks have a button to defer for 6months and you want a complicated waste of time pdf... get rea...
Read morel. Firstmac are the worst don't be sucked into the Pink we are pro-women hype it is all a FACADE and behind the doors are greedy men laughing at you with no care in the world. For what should if profit a man if he should gain the whole world? ... but lose his own soul.Hi Sam, thanks for your feedback. We care very much about our customers, and we're sorry you weren't able to get a hold of our team and found some of the communications complicated, so we'll pass this...
Read more on to the team leaders to ensure they review the process there. If you have any further feedback, please feel free to send it through to customercare@loans.com.au.If I could go back 5 years I would run away from loans com.au as fast as possible. Similar to other customers who've posted reviews of their experience, we were also lured in by their advertised rates only for them to hike the rates on us over the years. We're good customers with 3 loans with them as well as savings of $200k plus & have never missed a repayment. However it seems they don't care about retaining our business, they've not bothered to return our calls about lowering our rates so we've sourced a better deal through a mortgage broker...
Read more & will be moving all of our money elsewhere. As far as our experience goes, there are much better deals out there with far superior customer service than offered by loans.com.au. Would rate them zero stars if possible.Hi Mei, we're really sorry to hear about this and that you've had trouble getting your calls returned with regards to lowering your rate. Thank you for taking the time to leave an honest review, as we...
Read more do really value your feedback. If there is anything else you want to let us know, please send through your full name and suburb, as well as any further feedback you have to customercare@loans.com.au.- 2 reviews
Joined 4 years ago. Rates kept on creeping up against benchmark. Recently tried to call to discuss rate change. After 12 days and 4 calls and two firm complaints to staff still zero response. I wanted to give them a chance to reduce the rates - which are now higher than the rates advertised by the big 4 - so that neither of us have to waste time changing. As one can expect, once you are a customer, you are treated poorly, and the rates will keep increasing to above the big 4.
Hi Charley, thank you for taking the time to leave your honest feedback, we really appreciate it.
We're sorry to hear about the delay in response regarding your requested rate review. I will pass thi...
Read mores on to Customer Relations and see what we can do to help. So we can look into your individual case, can you please email your full name and suburb of your security property and we will look into this for you.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.
Hi Brad, thanks for taking the time to leave your feedback. We appreciate it and are sorry you feel this way.
We're always looking for feedback on ways we can improve our service. If there's anythi...
Read moreng we could do to improve outside of reducing rates as you mentioned above, please contact us at customercare@loans.com.au with any further questions or feedback you have.Thanks Hayley, I suggest you change your business model and stop ripping off new customers with rate increases after they sign up. This is disingenuous and dishonest. Loans.com.au should eliminate t...
Read moreheir break fees when they rip off their customers. I strongly urge people to avoid be loans.com.au. There are plenty of plenty of better lenders out there. I moved to Reduce home loans and I am saving a staggering $120 per week in interest repayments on my $660k loan. That’s over $6k per year savings compared to staying with loans.com.au. My only regret is that I didn’t leave loans.com.au sooner. Nevertheless I also managed to encourage two of my friends to leave loans.com.au and they couldn’t be happier.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.
Hi Lida, we appreciate your feedback and honest review. Thank you for the high rating of our Online Tools. Please contact us at customercare@loans.com.au with your full name and confirm the suburb so ...
Read morewe can look further into your individual situation regarding your rate and please feel free to leave any further questions or feedback you have.the rates are introductory only - after a year or two they bump your product to a rate that is way worse than the market
I have been with loans.com.au since 2014. The rate was good at first, hence I went with them. A couple of years later I saw a massive gap between my rate and rates advertised for new customers. My rate now is way worse then the market rate and when queried they even say the rates are for new customers only. They won't be new forever so they will also suffer in a couple of years. I am currently organising a refinance with another bank (although a more annoying because property prices have come down a lot) - hence I am for the moment a prisoner w...
Read moreith loans.com.au. My advice, choose another tradional bank but make them fight for your business (must ask for the base rate and discount off the base rate, and if that discount is for the life of the loan).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.
- 8 reviews
- 4 likes
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.
- 6 reviews
- 11 likes
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.
- 3 reviews
- 5 likes
Applied for a Smart home loan which was an easy process through onTrack, pre-approval was given as I have a 20% deposit. When it came to purchasing the house I paid for the valuation which was $220 dollars as they do not pay for this. Once the valuation came back it was 40k less than the purchase price. In all honesty, I think the valuer just did a drive past and did not look into even the street sales. Two houses on the same street sold above the property I was looking for which I found funny. Either way, I believe this company shows you an am...
Read moreazing interest rate but will value the house lower by a fair bit. Then they will offer you a higher interest rate and pay LMI ontop. In this case, they offered me a 3.09% interest rate and to pay lmi on top because I didn't have the 40k to pay upfront. Be aware I think these small banks try to build up equity this way or to catch you on to a higher interest rate once you are on the final processes of purchasing.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.
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.
Thanks for your kind feedback - we're glad you had a great experience with Laura and loans.com.au! We'll also share your feedback on onTrack with our app team. Thanks again!