From June, 27th, 2016 until July, 1st, 2020 Loans.com.au was offering a $30 Wish voucher to their customers to encourage them to write a positive or a negative review. It is possible that reviews below have been written by customers who received such a reward. These reviews adhere to ProductReview’s Incentivised Customer Reviews Guidelines and may explain a spike in review numbers.
Not valuing existing customers
Generally once they got your business, they forget about you. The focus and good rates are only passed on to new customers. The catch is once you’re in, rate goes up. Customer care: uncontactable, only if you have a long time and relaxed nerves to wait on hold. Otherwise email, they get back to you in a few days. If you have fixed rate, forget about asking the break cost, they calculate the rate somehow that you never think about breaking your fixed rate which means you are stuck until the end of the fixed rate term.
Misleading, terrible service and poor online management system
Signed up for a 2yr fixed loan and variable loan split 2 years ago now. In the 2 months between signing up and settlement, both the rates had increased despite no increase to RBA rates at the time. We only noticed this once our first payment was required (it was not communicated before this time). The "free" splits available to our package could not be used on the fixed loan component, which had we have known this, we would have split the amounts differently.
Loans.com.au customer service was poor after settlement, we were passed from customer ...
Went to refinance my home loan with loans.com.au recently and I've met all the criteria and terms and conditions. Got pre approved then approved. No problems. Signed the mortgage documents all went well. They sent me an email confirming the settlement date and time. I thought, all done now just wait for the day. One day later i received another email saying that they missed the fact that i had a payment plan with ato and unless that amount was paid out in full that the settlement wont go through. Ive had that plan when i bought the hous...e as well and no problems. So now its canceled and my time and money for house valuation all wasted. Only thing they could say to me over the phone was, sorry we dont know what to say. They couldnt give me an answer. Very dissapointed and would not recommend them at all. Especially if you are a first time borrower and get approved, settlement booked in and then disappointment. Horrible. I will look into my case thoroughly and get some advice as they shouldnt legally be allowed to do this.
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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!
Questions & Answers
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
Go on web site no set up fees UBank is offering a better rate of fixed 1.75%
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.
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?
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