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loans.com.au

loans.com.au (page 2 of 4)

Home Loans, Car Loans
3.5 from 1,050 reviews · View Statistics

Reviews

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too much
too muchGreater Melbourne (Metropolitan), VIC
  • 3 reviews
  • 5 likes

Unethical, unhelpful and purely organised.

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateJuly 2019
Loan used forRefinancing
1 comment
loans.com.au
Hayley G.loans.com.au
John Liu
John LiuGreater Melbourne (Metropolitan), VIC
  • 2 reviews
  • 6 likes

Do not go with loans.com.au because they treat existing customers very bad

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateOctober 2017
Loan used forFirst Home
2 comments
loans.com.au
Hayley G.loans.com.au
John Liu
John Liu
Sam
SamSydney Surrounds, NSW

Narrow-Minded

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateFebruary 2005
Loan used forSecond Home
1 comment
loans.com.au
Hayley G.loans.com.au
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Curtinboy
CurtinboyCurtin 2605, ACT
  • 4 reviews
  • 6 likes

Best decision I made was to leave

published

As is the case with many borrowers with loans.com.au, I was enticed by the initially low rates. However, the lender raised rates a number of times, even when the Reserve Bank didn't raise rates. When I contacted loans.com to see if they would move my rate down, even marginally, to be more in line with other no-frills lenders, they refused. I shifted to Homestar, which have been wonderful, so far.

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

Hi there. Thanks for taking the time to leave your feedback, we appreciate it. We're sorry to see you go. If you have any further feedback regarding our customer service, please let us know.

Chris
ChrisPerth
  • 5 reviews
  • 2 likes

Terrible

published
Incentivised ReviewNo
Loan TypeVariable Rate
1 comment
loans.com.au
Hayley G.loans.com.au
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Next

Existing customers get high interest rates & poor service

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forInvestment Property
1 comment
loans.com.au
Hayley G.loans.com.au
Brad B
Brad BSydney, NSW

Loans.com.au are scammers - beware..

published

loans.com.au are notorious for gauging their existing customers. They suck in customers with a competitive ‘bait price‘ and then after 6 months will try every trick in the book to screw their exisiting customers for more money. In recent years this has been by achieved by either not passing on rate cuts or gauging their customers with rates hikes due to “increases in wholesale lending”. It’s funny that they don’t decrease home loan rates when wholesale lending costs come down like they did in 2019.
All customers with loans.com.au end up paying much much higher rates than the industry average. This is a terrible company with a disgraceful business model and I urge you to avoid this company at all costs.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateFebruary 2018
Loan used forFirst Home
2 comments
loans.com.au
Hayley G.loans.com.au
Brad B
Brad B
whatelsewedo
whatelsewedo
  • 2 reviews
  • 1 like

Doesn't look after existing customer

published

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..

Transparency
Customer Service
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forRefinancing
1 comment
loans.com.au
Hayley G.loans.com.au
Joseph
JosephMetropolitan Adelaide, SA
  • 7 reviews
  • 2 likes

Worst experience in my life

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

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Matt
MattGreater Melbourne (Outer), VIC
  • 4 reviews
  • 5 likes

Not passing 19th March Rate Cut at all!

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
2 comments
loans.com.au
Hayley G.loans.com.au
Matt
Matt
Mel
MelMelbourne
  • 4 reviews
  • 7 likes

Passed on first rate cut but not the second

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

Hi Mel, we appreciate you taking the time to leave a review and we are sorry to hear that you have had an unfavourable experience with us. If there’s anything further we could do to improve, please do share your feedback at customercare@loans.com.au.

Ash
AshGreater Melbourne (Outer), VIC
  • 3 reviews
  • 7 likes

During time of crisis

published

Don't be lured to their loan rate as when i signed up after 6 months whether the interest rates go up or not they raised it. When the reserve bank dropped it they don't drop it and when you ask for hardship due to coronavirus impact and ask if it will affect your credit profile i get advised yes really even through these difficult times where the whole world is suffering. Thanks for not helping through this time of stress and anxiety

Transparency
Customer Service
Incentivised ReviewNo
Loan TypeVariable Rate
2 comments
loans.com.au
Hayley G.loans.com.au
Ash
Ash

Well after this message the lady apologised and said she made a mistake so I will take that comment back as she obviously didnt know.

James R.
James R.
  • 3 reviews
  • 4 likes

Scammers - beware!

published

Lure you in with low initial rates, then jack your rate up with a series of small incremental rate increases (out of alignment with the RBA decisions) due to 'overseas funding costs blah blah blah'.
RBA cuts are not passed on, only to new customers.
It's a big, nasty scam and it shouldn't be legal. Avoid.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
2 comments
loans.com.au
Hayley G.loans.com.au
James R.
James R.

Nothing like a stock standard response that fails to address the criticisms I have raised in this complaint. Other potential customers undoubtedly would like you to address the points I have raised? Or is this an admission of your business practices?

the rates are introductory only - after a year or two they bump your product to a rate that is way worse than the market

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateNovember 2014
Loan used forInvestment Property
1 comment
loans.com.au
Hayley G.loans.com.au

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.

Ben K
Ben KAU
  • 8 reviews
  • 3 likes

Bad customer experience, higher rates for existing customers

published

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.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateFebruary 2014
Loan used forRefinancing
2 comments
loans.com.au
Hayley G.loans.com.au
Ben K
Ben K
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Page 2 of 4
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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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