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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.
Reviews
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.
- 7 reviews
- 1 like
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...
Read more 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.
Thanks for your 5-star review Kris we appreciate it!
The reviewer stated that an incentive was offered for this 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.
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!
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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.
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.
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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.
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.
- 7 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.
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.
The reviewer stated that an incentive was offered for this review
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- 2 reviews
- 2 likes
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?
- 2 reviews
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
The reviewer stated that an incentive was offered for this review
- 92 reviews
- 15 likes
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.
The reviewer stated that an incentive was offered for this review
The service was personal and excellent!
They listened to my suggestions and provided options.
Quick turnaround.
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.
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
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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We're sorry to hear about your experience. Please contact us with any further details or feedback you have for us on customercare@loans.com.au.