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.
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.
Don't be fooled
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.
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.
- Home Loans
Inefficient non-transparent lack of service
Posting my first negative review on ProductReview.
In short: loans.com.au took almost a month to get our application going, provide preliminary approval, receive all the follow-up documentation and getting all the requested conditions in several stages satisfied every time, provide a valuation for a fee of $440, and at the very end reject the application (in an arrogant manner). As a comparison, immediately I turned back to our previous broker and within 2 weeks we have a smooth full approval with CBA, not a single concern raised on anything.
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.
Best service in attaining a loan
Loans.com.au provides a competitive loan rate, easy online digital web technology tool to follow and outstanding customer service. We have used them for refinancing and several loan applications without a problem and highly recommend this fantastic lender.
Couldn't be happier
After dealing with many banks over 30 odd years I was a little nervous to go "online" but this company could not have been easier to deal with. Online application process was very straight forward and customer service was very friendly, efficient and knowledgeable. My loan progressed all the way past settlement with no fuss, stress or trouble at all
Great rates and great service
From the word go Loans.com.au were far easier to deal with than anyone else. Their Brisbane based call centre coupled with their online application system makes everything super easy. The rates are fantastic and they have been very quick to pass on interest rate drops. Would recommend!
No blood sample required
This is my 2nd loan with loans.com.au. The process is easy and the rates excellent - even with an Offset. The customer service staff are all based in Australia, and extremely well trained. Not once did I get “I’ll have to get back to you...” - every question I asked was answered straight away. Their Apps for both applying and managing your mortgage are easy to use and the documentation required can be easily uploaded. Our Big 4 could learn from this company...
- Home Loans
Happy with the process. Very well look after.
ANZ bank was very difficult to dealt with after the royal commission.
Thanks a lot to the Loans.com.au teams for taking care of our home purchase.
Very smooth transition from the bank to online lender.
Great product. Relatively easy online user interface.
Great costumer service, although some conversations over the phone a little difficult to hear.
Other than a minor glitch experienced with the onTrack App, the process ran smooth.
Loan rates very competitive probably lowest I could find.
Great service and very easy to deal with.
Customer service is excellent. I spoke to Lani and she is very honest and transparent. She explain me the process and also the costs involved for the loan. She didn't hide any information. Also Sio helped me with the documents and never been impatient to answer the same questions. The On Track system is really good and easy to send and receive the documents.
Great company - very easy
Customer service was great - very helpful each step of the way. They made our experience very stress-free and easy. The rate we received was excellent compared to others we were offered.
Paid for a valuation and then declined loan
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?
The Best Home loans on the market
Customer service was great, no extra costs and very satisfied with the follow-up and required advice to qualify for the loan, highly recommend loans.com.au. The best rates in the market
- Home Loans
Need to Consider
Customer service was excellent.
No unexpected extra costs were incurred.
I would be happy if the rate is the same as my other investment loans.
Would recommend Loans.com.au to my friends and relatives
A company that is a lot easier to deal with than the big banks. Always explained everything that was needed and were very prompt in providing information when requested. You are definitely kept up to date with everything that is required when taking out a loan. Smooth process. Would use again.
100% satisfied again
Our customer service experience was very positive. The team is responsive, quick to action the loan and keep you informed every step of the way.
The explanation of costs was very clear and there were no unexpected surprises.
This is our third home loan with loans.com.au and they are always very competitive with their rates and easy to work with.
Quick initial turnaround and competitive rates but will shaft you post settlement
The application process was fine and the rates for new customers are competitive but nothing special. The standout is the quick turnaround on the loan application - 2-week approval and 4-week settlement - which was great. However, 3-4 months post settlement, a new rate was advertised for new customers at 16bps lower because the general marketplace has dropped rates. When I called their loan specialist, they straight out told me that they can’t do anything and possibly the best thing is to go elsewhere but I can’t do that for a few months. Then ...started to tell me of the significant exit fees if I were to discharge. The poor customer service really sucked on top of just pure deceptive behaviour from pricing. I will be refinancing and in this market where information is now more available I am disappointed that these lenders think they can lie and manipulate customers and get away with it. This will go to AFCA for sure.
Perfect service throughout the process!
The service was personal and excellent!
They listened to my suggestions and provided options.
They never dropped the ball and stayed in contact throughout the process, which was very clear.
Can highly recommend!
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.
Sham lenders!! Avoid at all costs!
BEWARE! Once they have your business they will screw you with higher interest rates within a few months and then give you lies about 'costs of lending' which is completely untrue as RBA is not changing or is actually decreasing rates...it's just a LIE so they can gouge you for more interest. You can ask for as many rate reviews from them as you like (but they limit it to only one every six months, another SCAM) but they will keep lying to you and never change your rate. Yet new customers always get better deals, existing customers get treated l...ike absolute trash. By raising the interest rate in the first few months they trap you because they know it's too expensive to move lenders again so you are stuck paying more, this is unconscionable conduct and I will be going to the Ombudsman about it, as they offer a honeymoon interest rate to attract business and then force people to pay more. My advice AVOID AT ALL COSTS YOU WILL GET SCREWED AND LIED TO!
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