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loans.com.au

loans.com.au (page 4 of 15)

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

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published

At acquisition stage, couldn't fault them. The rate was good and the cx service fantastic.
They've passed down 2 small rate changes in 3yrs. Even after requesting a review it was not competitive at all. The cx service guy I called recently was unhelpful, rude, and a real smart aleck.

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

HumnaGreater Melbourne (Inner), VIC

  • 2 reviews
  • 3 likes

Closed my debit card with one week notice. Extremely difficult to process the initial loan, or get any equity loans.

published

Closed my debit card with one week notice. Extremely difficult to process the initial loan, or get any equity loans. They do what they want and change what they want (like closing a debit card attached to my offset!) without notice or consideration of the impact. Stay away as I've been stung badly and would not recommend this bank to my enemies.

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

Hi Humna, we're sorry to hear that you have had an unfavourable experience with us. 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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JuJu

JuJuGreater Melbourne (Inner), VIC

  • 4 reviews
  • 7 likes

Avoid - after almost 5 years with loans.com.au They do not give you the service you deserve!

published
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Mark

MarkSydney, NSW

  • 7 reviews
  • 4 likes

Don't be fooled

published

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.

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Alane

AlanePerth, WA

  • 6 reviews
  • 11 likes

Does not treat Existing Customers Fairly!!!

published

I have been with loans.com.au for 4.5 years. They have consistently failed to pass on in full the RBA cash rate reductions. When I first joined them the gap between the RBA rate and my variable rate was 2.06%, but the gap to the RBA rate is now 2.57%. My rate is now 0.5% higher than the rate offered to new customers !!!! I challenged them on this and asked for a reduction but they gave me lots of poor excuses. I am leaving them. Do not sign up to this company, they will not look after you.

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Sean

SeanPerth, WA

  • 2 reviews
  • 3 likes

Will increase your rates!

published

I have a number of loans which are competitive at first on the advertised rate. However, loans.com.au will raise your rate out of cycle and will not pass on the full RBA rate cuts. Your interest rate will quickly end up being quite a lot higher than their advertised rates for new loans. They will also refuse to lower the rate when questioned and offer all the excuses in the world why they cannot.

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St T.

St T.Sydney, NSW

Rate not match, bad services, and waste your time significantly

published
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Dan

DanSouth East Queensland, QLD

  • 4 reviews
  • 1 like

Maternity Leave discrimination

published

Rang these people up to inquire on a home loan and they will not lend to people on Maternity leave if more than 12 months regardless of if this is paid or not, further to this they will only accept half of the amount that is being paid as income.
This is discriminatory NOT responsible lending as they should accept what is on the payslip not part of it and not for a limited time.

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Bubblegum

Bubblegum

  • 3 reviews
  • 3 likes

Waste of time and rude staff

published
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Horrific customer service

published
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Stay far away from this bait

published

Do not expect to get the rates advertised on the website. Thats not what you will be on just a few months after. Completely disappointing experience for me. Learn from my mistake.

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Liam M

Liam MGreater Melbourne (Inner), VIC

  • 10 reviews
  • 11 likes

Waste of time

published
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Brad

Brad

  • 2 reviews
  • 4 likes

Disorganised, not professional

published

I withdrew my home loan application after the sales team were unable to clearly articulate what documentation was required. If they cant get the front end right how will they be managing my loan ongoing? Looking elsewhere

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Aaron U

Aaron USouth East Queensland, QLD

  • 3 reviews
  • 5 likes

WARNING - Read the one star feedback first!! There is a very real difference between old and new customers comments.

published
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Dave

DaveSydney, NSW

  • 4 reviews
  • 2 likes

Rate creep!

published

We joined loans.com.au 2.5years ago. At the time the rates were good and competitive.

These days not so much.

3.16% P&I Owner Occ
3.58% IO Investment
3.31% P&I Investment

These guys quite often don't pass on rates in full to existing customers. They also pass on larger cuts for new customers.

They make themselves appear competitive to new customers, but as soon as you've signed on the dotted line, expect your rates to creep up.

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Rosemary N

Rosemary NAU

  • 8 reviews
  • 10 likes

[Bad] operation

published

Lure you in with low rate, then raise it after you are with them while no one raise rate. Dodgy documentation fee of 250 for discharge , not sure if this is even legal. Pathetic retention team. The whole operation is basically using existing customers money to fund new customer discount. If old customer dont leave, they are profitable. If they leave, they got sludged with expensive fees. Stay away. There are better lenders out there.

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Customer

CustomerPerth

  • 5 reviews
  • 9 likes

Not passing full rate cut to their customers

published

In last 3 rate cuts by RBA. Only once have been forwarded to customers in FULL. There are many other lenders offering far better rate than these. It seems as loans.com.au don't even want to retain the customers by matching or lowering the rate. They might be only focusing on revenue from loan exit fee.

Customer support is also limited to weekdays-working hours only

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dee b.

dee b.Metropolitan Adelaide, SA

  • 3 reviews
  • 1 like

Rude & Pushy

published

My experience during initial phone appointment made me annoyed & uneasy. The person who took my call kept cutting me off and almost insisting I make a decision to go forward or not without even listening/responding to my concerns.

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Worst experience with a loan company, over a month delay !

published

No even 1 star they deserve. Omg the worst experience/ customer service from a loan company. The application was received with all documents end of August and after me calling twice after a month and being told that is in process and soon I’ll get a call , I had to call again and finally got a call 2 October with the results . Over a month for a response . If anyone is looking a a good a prompt service definitely don’t go to this people.

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unhappycamper

unhappycamperGreater Melbourne (Metropolitan), VIC

So many hoops to jump through to get a loan finalised

published

the rates they offer are great but they have a deceiving web site that makes you think you are applying for a quote, and they have aggressive callbacks trying to get you to commit. then once you apply their ontrack system makes you jump through so many hoops and waiting in between, expect over a week to settle with the way they keep asking you for one or two documents at a time and then following up with some more requests every day. They also won't send you the terms in writing without asking for it like they are doing you a personal favour or something to review their terms in writing before proceeding. I have applied for home loans with less fuss than this.

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Page 4 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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