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.
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
Fantastic customer service
My consultant was polite, knowledgeable, attentive, and made a daunting process easy and relaxed. I couldn’t be happier with the outcome of this process and really appreciated the level of information and clarification that was provided. Where other lenders didn’t even acknowledge my enquiry, my consultant followed up repeatedly to check when would be a good time for me and was nothing but accommodating and professional. 5 stars on all fronts.
The Process was Simple and the Service was Sensational !!
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 !!
Really super helpful
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.
Terrible Product, feels like I got SCAMMED
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...
Non Bank Lender becomes a Bank!
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...heir 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.
Our loans manager Jazmin was a blessing. She was so helpful, explained everything so we understood it and made our experience very personable. Very happy that we used loans.com.au for our purchase.
Laura and Aroha worked with me to secure a home loan, recently. They were outstanding to deal with. Efficient, great communicators. The process was very fast and finalised very quickly. I would not hesitate to recommend Loans.com. Thank you both and to the whole team.
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...l. 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.
Not valuing existing customers
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.
Superb Flexible Service
The service by superb. Ilone Counsel, the consultant, was extremely helpful with suggestions on how I could split my loans to suit my needs. At first, after doing a lot of comparisons, I went ahead to take up the offer from another loan provider that offered a slightly lower rate. However, with the later provider, I was paid for unexpected charges such as Indentity verifications costs. When the final approval came through with modifications that did not meet my requirement. I went back to Loans.com.au who somehow managed to process my application before the settlement date without the extra charges.
Excellent, no extra costs involved, very happy with the rate, will recommend to others. no problems what so ever during the whole process. Easy access to account and loan payments etc.
Worst experience with a loan company, over a month delay !
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.
Such an easy process!
The whole process was so easy. The staff I spoke to were knowledgeable, helpful and friendly. The only negative I found initially was I didn’t have direct contact with my person once I found a house and had some questions. Overall super happy! Thank you
Great service. Lowest rates around
Decided to go with loans.com.au due to the lowest interest rates available. I was pleasantly surprised by Michelle's service. Buying a house is stressful. She walked us through each step of the way. Everything was explained and easy to follow. As it is all online, an older person or less tech savvy person may need some extra support but I'm sure you'd get it through these guys. Highly recommended.
Questions & Answers
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.
Has anybody gotten a fixed interest rate car loan with loans.com.au and their interest rate got suddenly changed during the fixed term loan period ? Are there any hidden fees or suprises on the way because I am on the stage of signing with them but the loan contract seems vague and subject to "changes". Anybody has an experience they want to share?
Get an answer from our members and loans.com.au representatives
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