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loans.com.au

Name: loans.com.au
Rating: 3.7

Home Loans, Car Loans (See All)

www.loans.com.au

3.7 from 1,432 reviews · View Statistics

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AlanCentral Highlands and Goldfields, VIC

Home Loans

Disappointing process from start to finish.

published 5 months ago

We decided on applying for an equity loan through loans.com.au after reading the encouraging reviews.
We had the initial phone call where pre approval was granted and we then set up the on track account that was supposed to be the direct portal for communications for the application process. Sadly it was pretty much all downhill from there. The on track portal was very frustrating where their were requests for multiple documents constantly. Messages sent with specific questions went unreplied. After submitting our application , a payment of...

Read more $280 was made for the valuation. After not hearing from them for a few days we contacted them to be told the valuer needed another $50 as we were 40 km outside their normal travelling range. They had our postcode before the request for payment was made initially...why didnt that come up in their system and why did we have to ring to find this out? The whole communication process relied on us contacting loans.com.au every few days when there was no updates in the on track portal to find out something was missing or not submitted. It drove us nuts! The icing on this shocker of a cake came when after all the stuffing around for nearly 3 weeks that we were knocked back on the loan. Not because of our credit check...that was excellent. Not because of our salaries or expenses....those figures were on point. Not because we had outstanding loans...we owned our property outright and the potential lvr was a measly 25%. after the valuation . ..we even reduced one of the credit cards to leave no stone unturned to get the application over the line No we got knocked back because we live in a church that had been converted into a residence for over 40 years and " apparently" that wasnt the type of property they could allow us to gain some equity from for us to do some renovations. Once again, it would have been great if we had have known this from the start via the application process, Instead we have lost a couple of weeks, down $330( im sure loans.com.au got a kick back from that!) , a reduced credit card limit and ended up with a very bitter taste in our mouths after our experience with loans.com.au . Give them a miss, lucky to get 1 Star. I want our money back!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised Review No
Loan TypeVariable Rate
Loan used forRenovation

Bree S.loans.com.auSend a private message

5 months ago

Hi Alan, we're so sorry to hear you haven't enjoyed your recent experience with us. We'd like to look further into your situation to see how we can get you a better outcome. Can you please email sales...

Read more@loans.com.au with your full name, phone number and loan account number, and someone from our team will be in touch with you shortly.

Alan5 months ago

Hi Taryn,
Email sent
Thank you
Alan

Alan5 months ago

As has been precedented by this company...5 days later..still no response after requesting details to be sent after a request on this public forum...just absolutely hopeless! Perhaps if i make contac...

Read moret with Australian Financial Complaints Authority and file my complaint there, I might get somewhere!

loans.com.au

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Birnie

2 reviews
2 likes

Home Loans

Appallingly bad!

published 3 years ago

Got a construction loan to finish a renovation. Great service selling us on the loan but rubbish from then on. Twice "lost" redraw funds, can't count, zero answers. Massive regret!

Transparency
Customer Service
Application Process
Timeliness
Incentivised Review No
Loan TypeSplit
Loan Start DateSeptember 2018
Loan used forRenovation

Questions & Answers

Mark T.asked 4 months ago

loans.com.au

Are new path lending any good

1 answer

Nissan navara4 months ago

Not sure, but loans.com.au were wonderful

Optimistasked 9 months ago

Home Loans

Thank you @CeeJay for your review. I wish I had seen this sooner as I am facing the same delays and issues with my home loan application. I’m not confident they will come through even though My case is simple and straightforward with all docs submitted. Definitely should avoid loans.com.au!

1 answer

Bree S.loans.com.auSend a private message

9 months ago

Hi there, we're sorry to hear you're unhappy with your experience. We'd love to look into your case further. Can you please email sales@loans.com.au with your full name and phone number, and someone f...

Read morerom our lending team will be in touch with you shortly.

fahqteamasked 2 years ago

loans.com.au

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.

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Reviews

Disappointing process from start to finish.

Appallingly bad!

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