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.
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.
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..
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.
Fast, friendly and effective service, give them a go!
On a Monday I wanted a loan and contacted my existing bank and loans.com.au to get ready for an auction on Saturday. Loans.com.au worked so quickly to help me out, my existing bank only called me a week after the auction has closed (another online lender).
Loans.com.au jumped into action immediately the process was very well explained and the 'On-Track' software made the process very easy, I knew at every stage where I was up to and if anything was required of me. My sale did have its complications but any calls I made to them generally sorted...the issues out or they called me back. Their turn around time on clarifications and escalations was exceptional. The online process was easy and their process throughout has been stress-free. I have now received the loan and their 'Smart Money' app is very easy to use and change the loan based on your needs. The team were very knowledgeable and helpful, I would recommend giving them a call, I've used multiple online lenders and they definitely have been the best so far.
The reviewer stated that an incentive was offered for this review
Best End to End process
Being an online company, I had the best customer experience. It was easy, quick, hassle free and a seamless end to end process. Secondly, communication from Loans.com.Au was outstanding and with minimal documentation. I have been with many other banks earlier but have not seen such a great experience. Thank you to the entire team of Loan.com.Au
Refinance Home Loan
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.
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.
Very satisfied, pleasant and prompt service
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Fantastic as usual
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
- Home Loans
Terrible customer service and incorrect interest rate received
I haven't received the interest rate received I was promised which was 1.99% for all my loans. There was clearly a mistake on their part as I have 3 loans, all now with different interest rates, despite been offered 1.99% which is also detailed on their website. The loans have now settled and they have basically told me there is nothing that can be done. They have formally responded saying they have listened back to my call and 1.99% was never offered, despite when I initially raised my complaint the team member placed me on hold to listen back...top the call and acknowledged that I was offered the interest rate if 1.99% across all 3 loans and that they should be able to "sort it out". Very misleading company, its quite annoying that I have to resort to leaving a review like this to try and prompt them resolve the issue. If you don't give me the interest rate we agree which I'm sure you can easily do, I'm just going to transfer money I have elsewhere to completely fill my offset account so that you get no additional interest at all. You will actually be loosing money as you are holding the loan liability while not getting any interest at all. I have been dealing with [name removed]
Possibly the worst retail experience
From start to almost finish - this has been one of the worst retail experiences I have endured. I have arranged three loans to be refinanced with this crew and the Apps and electronic support have failed (despite several calls to fix it), information requests (typically via the app) have been duplicated and even when messaged have not been removed (potentially slower settlement), the support member allocated to my deal simply doesn't listen. Conversations for Third Party access suddenly stopped. Generally expect different answers from staff m...embers (but occasionally you get a staff member whom you thinks know what they're doing). Staff generally poorly trained and electronic support if terrible. Don't get sucked into the low interest rates - you'll regret it. It has been a long, slow painful experience. After almost 4 weeks, still waiting to hear about an extra $1,200 charged at settlement for two of my three loans.
Unethical, unhelpful and purely organised.
I overpay my mortgage, never miss a payment, and have a large mortgage which is safe due to our professions being government. The application process was a joke - sorry but I would love to know how you people think the admin should be done. Literally took 5 times to get documents sorted - 24 hrs application was over a month - apparently, the software was doing it wrong and it took a team to fix it but only on my profile of our mortgage and not on my husband. Then the fiasco of the direct debit which they kept getting the account details wron...g which after 3 month of messing around we told them to stop trying - we sorted it by BPAY. No one year later when they have nothing to do they have brought out an interest rate 0.68% lower than my current rate and they are refusing to let existing customers move to a better rate. - Disgusting. They are also not a bank just some money lender in Queensland. If you want a cheap rate and have zero interaction then go ahead but anyone who expects more than a couple of figures on a page - which is all we want incidentally go elsewhere.
Very happy with customer service. The process to sign up was good being able supply documents online. A little more info regarding the refinancing transactions would have been good to know. Ie, more money then required was drawn to cover any unexpected fees. We then had a 2 week wait from our old lender to give us the purposely overpaid funds which then put straight back on the new mortgage. We understand that process now but would have been good to know that was going to happen ahead of time as at the time we thought it was an error of loans.c...om.au which cost us interest we didn’t anticipate on the additional funds. We have been with Loans.com.au for over a year and are very pleased to have calls answered promptly and answers to our questions quickly. Rates are extremely competitive despite not all rate cuts being passed on in full as happens with other financial institutions. After making the switch I have kept track of our old loan rates, has we not have changed we would be wasting $100 per week (yes per week) on interest. After a number of rate cuts on both the old loan and our current we are now approx $26 better off per week then had we of stayed with our old lender. Love having no account keeping fees and flexibility of redraw facility. The app is the easiest banking app I have used. Thanks loans.com.au for the savings and for having such wonderful staff to deal with. Highly recommended!
Existing customers get high interest rates & poor service
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...& 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.
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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