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loans.com.au

loans.com.au (page 3 of 15)

Home Loans, Car Loans
3.5 from 1,034 reviews · View Statistics

Reviews

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Chris

ChrisPerth

  • 5 reviews
  • 2 likes

Terrible

published
1 comment
loans.com.au
Hayley G.loans.com.au
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RenzoDemartini

RenzoDemartiniCanberra 2600, ACT

Told one thing over the phone and something completely different at application

published

Steer away from this company. Tell you one thing over the phone before applying and then change their words once a preliminary application has been submitted, shameful and frustrating behaviour.

1 comment
loans.com.au
Hayley G.loans.com.au
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RVD

RVD

  • 3 reviews
  • 4 likes

Very dishonest

published

I was promised multiple times that funds will be transferred to Dealerships bank account as a same day transfer and was funds will show up in dealer bank account in 1 hr. This never happened, Dealer claimed he didn’t receive the funds even after 4 hours . Why would you call it a same day transfer if funds don’t transfer same day ? Why would you claim that funds will be there in 1 hr if you can’t deliver? Cannot get delivery on weekend and will now need to take time off work to pick up the car. Extremely frustrating and disappointing service !! Worried about the next few years I am locked in with this Organization. Don’t make promises you don’t intend to keep !!

1 comment
loans.com.au
Hayley G.loans.com.au
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Amateur Service

published
1 comment
loans.com.au
Hayley G.loans.com.au
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Tass

TassSydney, NSW

  • 2 reviews
  • 1 like

Follow up was a waste of time

published

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

4 comments
loans.com.au
Hayley G.loans.com.au
Tass
Tass

What is your email address

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

Hi Tass, the best email for this is customercare@loans.com.au. Thank you

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Existing customers get high interest rates & poor service

published
1 comment
loans.com.au
Hayley G.loans.com.au
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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.

2 comments
loans.com.au
Hayley G.loans.com.au
Brad B
Brad B
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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..

1 comment
loans.com.au
Hayley G.loans.com.au
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Joseph

JosephMetropolitan Adelaide, SA

  • 7 reviews
  • 2 likes

Worst experience in my life

published
1 comment
loans.com.au
Hayley G.loans.com.au
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Matt

MattGreater Melbourne (Outer), VIC

  • 4 reviews
  • 5 likes

Not passing 19th March Rate Cut at all!

published
2 comments
loans.com.au
Hayley G.loans.com.au
Matt
Matt
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Mel

MelMelbourne

  • 4 reviews
  • 7 likes

Passed on first rate cut but not the second

published
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.

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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

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.

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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.

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?

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ASHNIL P.

ASHNIL P.South East Queensland, QLD

  • 2 reviews
  • 10 likes

You'll be a fool if you apply with these guys

published

Trust me, I have been a customer for a while now and know the real experience! Don't be fooled by their low advertised rates, they are for SHOW ONLY! After you become a customer you'll see how your rates slowly bump up compared to their advertised rates. For example, my investment loan rate is 3.18% compared to their advertised rate of 2.94%. Also you'll have to wait like for 3-4 weeks to see the RBA cuts apply to your loan accounts. On the other hand, it takes just hours for them to increase the rates when needed! That tells a lot about the ethics of the company!!

1 comment
loans.com.au
Hayley G.loans.com.au
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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
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.

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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.

2 comments
loans.com.au
Hayley G.loans.com.au
Ben K
Ben K
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people_tel_suck

people_tel_suck

  • 2 reviews
  • 3 likes

They were good initially, but then they got fat and greedy

published
1 comment
loans.com.au
Hayley G.loans.com.au

Hi there, we appreciate you taking the time to leave your honest feedback. Please contact us at customercare@loans.com.au with any further questions or feedback you have.

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Michael

MichaelGreater Melbourne (Inner), VIC

Rates will creep up after the initial low rate

published
1 comment
loans.com.au
Hayley G.loans.com.au
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Sydneysider2020

Sydneysider2020Sydney, NSW

  • 2 reviews
  • 2 likes

Terrible service -- don't even bother

published

They were really nice on the first call and pre-approved a loan for $30,000 after gathering a ridiculously set of documents (employment contracts, bank statements, payslips). And then, when I bought the car and needed only $26,000, they refused to give final approval because they wouldn't include part of the money in my employment contract (which was fixed for five years in the future). Nothing changed and they rescinded the approval.

Terrible company. Don't deal with them. I had to call them about 10 times and everytime going though a menu and talking to some very inexperienced person.

1 comment
loans.com.au
Hayley G.loans.com.au
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RoyK

RoyKSydney, NSW

  • 19 reviews
  • 18 likes

Not valuing existing customers

published

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.

2 comments
loans.com.au
Hayley G.loans.com.au
RoyK
RoyK

That’s good to know, but that is not the main Point of this feedback, or maybe you haven’t read it properly. it’s about the rate which you have not addressed. I think public needs to know what they want to get themselves in to.

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Page 3 of 15
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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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