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loans.com.au
3.5 from 1,050 reviews · View Statistics

Reviews

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dave!
dave!Melbourne
  • 3 reviews
  • 5 likes

They changed early repayment conditions with no notice

published

They changed the early repayment conditions 12 months into my loan, it was $700 pro rata down over the life of the loan originally, then they changed it to $700 for the first two years of the loan and they made this change with no notice period.

I had made early repayments so would still be up for $290 in early repayment fees at the end, the change will cost me an extra $410, complaint lodged to AFCA.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeFixed Rate
Loan Start DateJune 2020
Rahul N.
Rahul N.Sydney, NSW

Terrible company glad to be gone.

published

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.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateApril 2016
Loan used forInvestment Property
1 comment
loans.com.au
Hayley G.loans.com.au

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.

Tareq
TareqSydney, NSW
  • 4 reviews

Very Vindictive and non-cooperative

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeFixed Rate
1 comment
loans.com.au
Hayley G.loans.com.au

Hi Tareq, we've escalated this case to Customer Relations. A senior member of our Customer Relations team will be in touch ASAP with an official response.

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Everything is great until it isn't

published

Terrible customer service and website. Have reset my password three times and still can't get onto the portal because it rejects the new password every time. Called multiple times to seek clarification on what information was required from the dealer and loans.com.au - both said it was all fine and they would figure it out between them. Well, our car has been sitting at the dealer for almost a week and we can't pick it up because neither party did what they said they would do, when they said they would do it.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeFixed Rate
1 comment
loans.com.au
Hayley G.loans.com.au

Hi Sarah, can you please email us with your application number, full name and phone number to customercare@loans.com.au, and we will get someone to escalate this for you.

Ali
AliSouth East Queensland, QLD
  • 2 reviews

Waste of time and money

published

Had a loan with them on a low rate then 5 months in the term they suddenly increased our rates to much higher than the advertised rate on the same loan. Avoid these people or pay the price!

Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
1 comment
loans.com.au
Hayley G.loans.com.au

Hi Ali, we're sorry to hear about your experience and would like to look into this further. Can you please send your full name and account number to customerrelations@loans.com.au.

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Gerard
GerardPerth, WA

Another case of false advertising

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeFixed Rate
Loan Start DateMay 2021
Car ModelBMW 3 Series
1 comment
loans.com.au
Hayley G.loans.com.au
Anna
Anna
  • 4 reviews
  • 2 likes

No stars if possible

published

Extremely difficult to deal with. Made us jump through hoops to secure a minimum loan, does not follow through with customers or service. Poor communication, and cannot recommend enough for loans.

Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateMarch 2021
1 comment
loans.com.au
Hayley G.loans.com.au

Hi Anna, we're sorry to hear about your experience and would like to look into this further. Can you please let us know what day, time you called and who you spoke to, as well as your full name and App ID to customerrelations@loans.com.au.

Dan
DanGreater Melbourne (Inner), VIC
  • 4 reviews
  • 8 likes

Terrible Product, feels like I got SCAMMED

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateJanuary 2017
Loan used forSecond Home
1 comment
loans.com.au
Hayley G.loans.com.au
Daniel E
Daniel EGreater Melbourne (Outer), VIC

Terrible customer service and incorrect interest rate received

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forRefinancing
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Mark B.
Mark B.Greater Melbourne (Metropolitan), VIC

Non Bank Lender becomes a Bank!

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateDecember 2019
Loan used forSecond Home
1 comment
loans.com.au
Hayley G.loans.com.au

Bad Experience: Incompetent & Fake Loan Specialist

published

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?

Transparency
Customer Service
Application Process
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forHome Construction
3 comments
loans.com.au
Hayley G.loans.com.au
Ali
Ali

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!!!!!

loans.com.au
Hayley G.loans.com.au
Martin Oldfield
Martin OldfieldMetropolitan Adelaide, SA
  • 2 reviews
  • 2 likes

Possibly the worst retail experience

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateNovember 2020
Loan used forRefinancing
2 comments
loans.com.au
Hayley G.loans.com.au
Martin Oldfield
Martin Oldfield

You've had about 4 weeks to "look into it". Empty promises again.

She
SheSouth West, QLD
  • 2 reviews
  • 7 likes

Bank balance decline

published

How can your income, credit check, deposit & valuation be approved, then you get declined because your bank balance will only be $5800 once your deposit is paid... shouldn’t a loan be approved based on your affordability to pay not your bank balance...

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forFirst Home
3 comments
loans.com.au
Hayley G.loans.com.au
She
She

What I would like is a copy of the valuation report I paid for

loans.com.au
Hayley G.loans.com.au

Hi there, we will refer your case to Customer Relations. Please email customerrelations@loans.com.au with your full name and application number and we will look into this further for you.

Terrible!

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
1 comment
loans.com.au
Hayley G.loans.com.au
Lentheric
LenthericGreater Melbourne (Inner), VIC
  • 2 reviews
  • 5 likes

No rate cuts, slightly lower rate offered for new customers only, even the big banks are offering better rates.

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateDecember 2018
Loan used forFirst Home
1 comment
loans.com.au
Hayley G.loans.com.au

Hi Lentheric, thanks for your detailed feedback. We'd like to escalate your case to customer relations, so if you could please send your full name, email address and loan account number to customerrelations@loans.com.au and we'll assist ASAP.

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Questions & Answers

Anna
Annaasked
loans.com.au

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

1 answer
Brian
Brian

Go on web site no set up fees UBank is offering a better rate of fixed 1.75%

fahqteam
fahqteamasked
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.

No answers
Kaiti
Kaitiasked
loans.com.au

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?

No answers
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