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Our situation-buying two investment properties, total under $1 mil. Initial sales call made everything sound very easy. Experience was far from. Extremely painful at every step. Online software sucks big time. Partnering with loans.com.au is up there with life’s biggest regrets, never again. Good for basic home loan, anything beyond go elsewhere.
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- Customer Service
- Application Process
- Timeliness
- Online Tools
- Incentivised Review No
- Loan TypeVariable Rate
- Loan Start DateJune 2022
- Loan used forInvestment Property
The loan procedure was dotted with endless automated obnoxious emails and Web portals. At no stage did I talk to a single human being. Avoid this site as their service is impersonal beyond words and it meant the entire process we were treated as just another number. It was so garbage a service offer that i don't recall if they were timely or not with their process.
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- Customer Service
- Application Process
- Timeliness
- Online Tools
- Incentivised Review No
- Loan TypeFixed Rate
- Loan used forInvestment Property
Me and my husband were part of our application . Customer service often rejects my calls saying we had helped her husband with the fact that half information is provided to him . I was not sent all the documents to my account . Was not cc’ed in all email conversations . Technically when two people are applicants they should be provided with same information. Their mobile application was extremely faulty and was not accepting login credentials of my husband and on my login we donot have all documents to complete . When customer service sent emai...
Read morel to us they have sent half documents . While posting documents we had double checked with customer service that day new customer service officer informed documents were half sent to us so we had to do another round of getting verifications for rest of the documents .Due to horrible customer service we had to do urgent settlement and had to pay $300 extra for urgency .- Transparency
- Customer Service
- Application Process
- Online Tools
- Incentivised Review No
- Loan TypeVariable Rate
- Loan used forInvestment Property
Hi there, we're very sorry to hear you're unhappy with your recent experience with us. We'd like to look into this so we can get you a better outcome. Can you please email your full name, application ...
Read morenumber and mobile number to customerrelations@loans.com.au, and a senior member of our team will be in touch with you shortly.- 14 reviews
- 11 likes
they threatened to freeze my account because I fully offset my loans.
they also made discharging my loan so difficult. no forms available online, I had to call them up and go through the rigmorale with their retention process and taking way longer than normal banks. really unhappy with the process.
- Transparency
- Customer Service
- Application Process
- Timeliness
- Online Tools
- Incentivised Review No
- Loan TypeVariable Rate
- Loan used forInvestment Property
We're so sorry to hear you're unhappy with your experience and we'd like to look into your concerns. Can you please email your full name and mobile number to customerrelations@loans.com.au, and a seni...
Read moreor member of our team will be in touch with you shortly.Find out how loans.com.au compares to other Loans
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- 3 reviews
- 8 likes
Wonderful man I spoke to originally. I tried to refinance my loan from StGeorge to a more competitive rate. This company has only just started taking applications for these types of loans. Their portal is clunky at best. I had promises broken, bad updates from many different staff (usually a different staff member each time ). I eventually got sick of waiting.... from the application being taken, I got up to over 5 weeks with still no answer. Up to 9 weeks now and still haven't got to settlement . I don't think this company is capable to arrange this specific type of finance, even though they advertise it and that the process is easy. I haven't done many things that are harder.
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- Application Process
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- Online Tools
- Incentivised Review No
- Loan used forInvestment Property
Update - had to stop the rot and stop trying to settle this complete joke. 10 weeks of my life I won't get back. Avoid this company like your like depends on it.
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.
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- Customer Service
- Application Process
- Timeliness
- Incentivised Review No
- Loan TypeVariable Rate
- Loan Start DateApril 2016
- Loan used forInvestment Property
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.
As part of the loan approval process, lenders require a property valuation to be conducted on the property of interest. What loans.com.au does is get you to pay for the property valuation, but they refuse to release the report which YOU paid for. What is the explanation for this??? If we pay for something, we should be entitled to it.
- Incentivised Review No
- Loan used forInvestment Property
Hi John, thanks for taking the time to leave a review.
We confirm that as advised by your lending manager, we are unable to agree to your request for a copy of the valuation undertaken on the property offered as security for your loan application....
Read more The reason for that decision is that in in accordance with Points 4 and 5 of the Declaration of the completed application form, the Declaration states that any valuation relied upon by the lender to assess the application for finance is for the purpose of the lender and the mortgage insurer only. The valuation is a commercial document provided to the lender by the valuer, and we therefore cannot provide you with a copy. If you have any further questions please do feel free to reach out to our team at customerrelations@loans.com.au and we'll do what we can to assist.Related Articles
- 7 reviews
- 2 likes
Contacted to find out viability of an investment property. Terrible customer service, passive aggressive, condescending and lacking in knowledge. Couldn't understand what I was trying to ask at times and would butt in before I finished trying to ask. Judgemental have had great experience with Lendi who were extremely helpful and can answer all questions you throw at them try them. Waste of time speaking to this company. The questions on application form do not allow for correct details.
- Transparency
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- Incentivised Review No
- Loan used forInvestment Property
Hi Amanda, thank you for taking the time to leave your feedback, we appreciate it. We will pass this on to the appropriate team to look into. Could you please email customercare@loans.com.au with your...
Read more full name and application number so we can trace it back to your individual situation.- 2 reviews
- 1 like
I followed up. Although my fixed rate is almost up (about 1% higher than variabke) I will still be charged a fee. They dont care if I leave. Customer care is zero
- Transparency
- Customer Service
- Incentivised Review No
- Loan TypeFixed Rate
- Loan used forInvestment Property
Hi Tass, thank you for your feedback.
We're sorry to hear of your experience. We pride ourselves on having a personable and attentive Customer Care team, so we take feedback like this seriously. So w...
Read moree can look into your individual case, can you please email us your full name and suburb of your security property and we will look into this for you.What is your email address
Hi Tass, the best email for this is customercare@loans.com.au. Thank you
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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.- Transparency
- Customer Service
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- Incentivised Review No
- Loan TypeVariable Rate
- Loan used forInvestment Property
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).- Transparency
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- Incentivised Review No
- Loan TypeVariable Rate
- Loan Start DateNovember 2014
- Loan used forInvestment Property
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.
- 8 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.
- Transparency
- Customer Service
- Application Process
- Timeliness
- Online Tools
- Incentivised Review No
- Loan TypeVariable Rate
- Loan Start DateJune 2018
- Loan used forInvestment Property
Find out how loans.com.au compares to other Loans
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- 8 reviews
- 3 likes
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.
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- Transparency
- Customer Service
- Application Process
- Timeliness
- Online Tools
- Incentivised Review No
- Loan used forInvestment Property
- 3 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?
- Transparency
- Customer Service
- Application Process
- Timeliness
- Online Tools
- Incentivised Review No
- Loan TypeVariable Rate
- Loan used forInvestment Property
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.
- Transparency
- Customer Service
- Timeliness
- Online Tools
- Incentivised Review No
- Loan TypeVariable Rate
- Loan Start DateFebruary 2019
- Loan used forInvestment Property
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.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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Hi Sonia, we're very sorry to hear you're unsatisfied with your recent experience with us, and we apologise for the inconvenience. We'd like to look into this. Can you please email your full name, mob...
Read moreile number and account number to customerrelations@loans.com.au, and someone from our team will be in touch with you.