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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...
Read more 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]- 2 reviews
I have discussed my credit history and the loan details with their so call loan specialist because I don't want any credit enquiry if any issue, she said everything is good to go. I have applied but declined, when I have asked for reason for decline, they are saying as per guidelines it is declined but not sharing any reason. My credit report is being ruin because of their incompetence. They charged for property valuation $220 that no other lender i.e NAB, CBA, ANZ etc is charging. They said will refund $220 but after one week, but why?
I have sent my details to your customer relations email as you suggested but no one even replied to my email as I knew. Also I can see you guys added many 5 star fake reviews since 3-4 original bad reviews. Disgusting!!!!!
Hi Ali, I have checked in with the customer relations department - would you be able to please provide your name so we can refer to your email and see how we can assist ASAP.
We are concerned by you...
Read morer comments as we would never add fake reviews as we always strive for genuine and honest feedback from our customers to see how we can improve. Also, the Product Review team ensures only quality reviews are published and have an algorithm which automatically identifies & blocks suspicious content, whether it’s from bots, or employees placing fake reviews. If you have any further queries on the legitimacy of the reviews on this platform, you might find this article helpful: https://support.productreview.com.au/hc/en-us/articles/360001254656- 2 reviews
- 2 likes
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...
Read moreembers (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.Hi again Martin, we appreciate you taking the time to leave your feedback. We have forwarded this on to our customer journey team to look into and see where we can improve our processes going forward....
Read more If you have any further details to add, please send them through to customercare@loans.com.au.You've had about 4 weeks to "look into it". Empty promises again.
- 3 reviews
- 5 likes
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...
Read moreg 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.Hi there, thanks for your feedback on the application process - we will pass this on to the appropriate team and see what we can do to improve. If you have any further feedback, please feel free to se...
Read morend it to customercare@loans.com.au, ensuring you include your full name and account number so we can trace it back to your individual situation and see what we can do to help.Find out how loans.com.au compares to other Loans
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- 2 reviews
- 1 like
First it attracts you with low interest rate and after becoming customer,loan.com.au treat us like we are nothing. I call them everytime when reserve bank cut interest rate but Everytime I here I am getting best interest rate blah..blah..blah . I am normal person and do not understand other than interest rate. My intreset rate is 3.22 variable now and my friend who went with other bank same time when both bank have same interest rate ,her interest rate is 2.69 variable only. What a shame..
Hi there. We're sorry to hear this. If you need some help understanding the interest rate or your product, please feel free to get in touch with us via customercare@loans.com.au. If you send us your f...
Read moreull name and suburb, we will look in to your specific situation and do what we can to help.- 8 reviews
- 3 likes
Avoid these guys, plenty of other lenders
Good 5 years ago, but do not communicate rate changes clearly, would not rectify their mistakes.Worst they have higher rates for existing customers now.
Hi Ben, we are sorry to hear about your experience. Although we have recently announced we are reducing our variable home loan rate by 0.25% for existing customers, we appreciate you taking the time t...
Read moreo leave your honest feedback. Please contact us at customercare@loans.com.au with any further questions or feedback you have.Hi thanks,
rates offered to existing customers are over 0.5% higher than rates offered to new customers AFTER the drop. Other lenders are offering guarantees of the same rate for existing customers as...
- 5 reviews
- 7 likes
Avoid - after almost 5 years with loans.com.au They do not give you the service you deserve!
Initially, they were great, easy process, great rate. Within a very short time the rate was increased multiple times (RBA did not raise) claiming borrowing costs overseas impacted the business, no choice but to raise interest rate. The rate went from competitive to higher than major banks. Customer service is terrible, for an online bank, they do not make it easy for customers to contact. If you email/message them through the online portal, they reply you have to call them. When you call, you are then placed on hold for over half hour wait...
Read moreing to speak to a customer service rep - this happened on multiple occasions. If you have a query in relation to any pending transactions on your savings/cheque account, they are no help at all. They give you a stock standard reply to contact the merchant, they cannot help but don't worry, if the transaction hasn't become "financial" within 30 days, it will automatically expire! Bad luck if it's a significant amount and you cannot contact the merchant, you literally have to wait 30 days to access your OWN money!! I would never deal with an online bank again, happy we have now refinanced with the Bank Of Melbourne - at least I can walk into a branch and have any queries/concerns dealt with in a professional manner. Would not recommend loans.com.auRelated Articles
- 4 reviews
- 5 likes
WARNING - Read the one star feedback first!! There is a very real difference between old and new customers comments.
Watch out for Loans.Com.au. They entice you in with attractive 'new' rates, only to then slowly make your home loan uncompetitive over time. At first I was very happy with the product.
But as all the interest rates were going down, Loans.com increased mine blaming some increased funding cost on the international market!!
They also don't pass on the full interest rate cuts by the RBA, so over time, my daughter's home loan rate with the Commonwealth Bank (a big four) was better than mine!
So I decided to call them to discuss this anomaly, as the...
They made a direct debit transaction on my loan account without noticing me or getting my authorisation which is illegal and it is to a different person's account. Called crime stopper and the other bank who said will investigate but got no reply from Loans com au for more than 48 hours still. Will make formal complaint.
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- 7 reviews
- 3 likes
Best rates advertised. Once hooked, up it goes while still offering new customers the good rate. I moved loan provider. The saying goes. If its too good to be true….
Questions & Answers
Are new path lending any good
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!
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.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
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Hi there Ali, thanks for your feedback on your experience. We will refer your case to Customer Relations to see how we can assist. Please email customerrelations@loans.com.au with your full name and a...
Read morepplication number and we will look into this further for you.