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loans.com.au
3.5 from 1,031 reviews · View Statistics

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NASIR

NASIRGreater Melbourne (Inner), VIC

First got Pre-approval and then they taking me round and round

published

On 30 Min Call i provide all details and got pre-approval and after pre approval now they taking me round and round in circle. Things they required me over the fone have been provided but now they want more and more and more. not impress at all.

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

Hi Nasir, thanks for your feedback. We've passed this on to management but if you have anything further to add, please send through to customercare@loans.com.au with your full name and App ID so we can trace back to your individual case.

NASIR
NASIR

App id 80048816

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Jeremy S.

Jeremy S.South East Queensland, QLD

Not the best customer service

published

Always disappointed that this company gives so much better rates to new customers. Existing customers lose out unless they go through all the hoops of negotiating a better deal.......writing this review as I remain 9th in the queue to speak to a customer service representative!!!!!!

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Hayley G.loans.com.au
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Have actively taken steps to make it more difficult for customers to compare interest rates

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Hayley G.loans.com.au
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alexnat

alexnatGreater Melbourne (Outer), VIC

  • 6 reviews
  • 1 like

Pre approval pulled out from under us

published

Pre approval was given based off the annualised salary amount on the payslip, not the year to date figures of what was actually earned (which was obviously a percentage of that). Upon wanting to go ahead, told we couldn't because 'finance' says it wasn't enough.

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1 comment
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Hayley G.loans.com.au
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Mike

MikeSydney, NSW

  • 2 reviews
  • 1 like

very bad service once you convert your loan to them

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1 comment
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Hayley G.loans.com.au
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Start with lowish home loan Interest rate and then fail to pass on cuts

published

Fail to pass on rate cuts to existing customers, got in touch with them to ask if they'd consider passing on the cut, unfortunately they said no. Currently looking to re-finance. In fact the last .10% reduction (November 3rd 2020) hasn't even been acknowledged - as in no message to say they would or wouldn't be passing on......."ignore and it'll go away".

Incentivised ReviewNo
5 comments
loans.com.au
Hayley G.loans.com.au
Nick
Nick

Will do.

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

Thanks Nick, we appreciate it.

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blackphilip

blackphilip

  • 2 reviews
  • 1 like

Terrible controlling product

published
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Hayley G.loans.com.au
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Ananya H.

Ananya H.Greater Melbourne (Metropolitan), VIC

High Early payment fees with future interest also charged

published

I have taken Car loan from this agency but they are charging High early payment fees with future interest as well which is coming $160 extra than the original payment .They are calculating as outstanding balance +21 months of early payment fees which is $408+one months interest.
So be careful once you take loan from them. Their break out fees is $700/time length of loan * number of month remaining for paying back loan.
It means even if pay early then also you are bearing all future interest with extra $160 in our case.

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Hayley G.loans.com.au

Hi Ananya, thanks for your feedback. We'd like to escalate your case to customer relations 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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fahqteam

fahqteamSydney, NSW

Rate cuts

published

RBA cut rates 6 days ago and yet we don’t get informed on if it’s getting passed on or not, not even a time frame on when we will know, this is lazy and a horrible way to treat customers leaving them in the dark telling them nothing. Not one thing said in media release

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Hayley G.loans.com.au
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Eric

EricSydney, NSW

Interest rate from good to bad for existing customer

published

I have a home loan with them for 6 years and I think it's time to move. Their rate was competitive at the start as a new customer but become worse when the interest rate moved up and down over the years, the gap between new customer/other lenders and mine is getting wider. I was disappointed when the rate was fast to increase and slow/no to pass the reduction. I thought I could stay with them for the full term. Who enjoy the paperwork to switch lender if your rate is great from the start to end? Loyalty got punished.

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

LauralSouth East Queensland, QLD

Initially great! But haven’t passed on interest rate cuts! What’s the point??

published

The customer service was great but I would no longer recommend. They didn’t pass on the interest rate cuts 3 times even though I was on variable. The point of being with them is that they have competitive rates but they are now higher then the big four. Disappointed!

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Hayley G.loans.com.au
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Paolo

PaoloGreater Melbourne (Metropolitan), VIC

  • 2 reviews
  • 1 like

Un-organized, wasted time

published

I've always used Dealer Financing and this is my first time trying a 3rd party financing. It started out well with Loans.com.au, talked to multiple people within the company and it was apparent that there are no internal communication wtihin the company, different people different information all the time which was confusing. I was pre-approved, then someone told me I was approved then I had an issue with 'serviceability'. The staff themselves were very nice, not their problem that their processes are not working. Wasted 2 weeks of my time with them, went to the dealer and got approved within 24hrs at the same rate.

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Hayley G.loans.com.au
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Lionel W.

Lionel W.Greater Melbourne (Inner), VIC

Great for a new loan although for existing customers terrible.

published

I have been with loans.com.au for 5 years (home loan). Paid off 445k loan within 5 years of a 500k loan. As my 5 year interest only loan expired they would only give me a .2% reduction although a new loan would have been .7% less. Basically they don't care about existing customers but only new customers. I have now organised my home loan to go to another bank. Don't bother with them. There are heaps of other lenders that believe looking after their existing customers.

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Hayley G.loans.com.au
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Paris C.

Paris C.South East Queensland, QLD

Frustrating and disappointing

published

Applied for a new car loan through loans.com.au and had to wait nearly 2 weeks to be told that I don’t meet their lending criteria. I had the dealership contacting me through the weeks asking if the deal was still going ahead and when loans.com.au eventually told me I was declined they could not give me a reason as to why. Customer service was good but having to talk to multiple people seemed to confuse the whole process. I was asked multiple times for information that I had already provided and then when I received the application to review there were still multiple errors. Found finance elsewhere.

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2 comments
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Hayley G.loans.com.au

Hi Paris, thanks for your feedback. As discussed via private mediation, we escalated this case to customer relations for further investigation.

Paris C.
Paris C.

Still received no reason as to why I was declined.

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Charley Zheng

Charley Zheng

  • 2 reviews

Like big banks, sucks you in and keeps rates high

published

Joined 4 years ago. Rates kept on creeping up against benchmark. Recently tried to call to discuss rate change. After 12 days and 4 calls and two firm complaints to staff still zero response. I wanted to give them a chance to reduce the rates - which are now higher than the rates advertised by the big 4 - so that neither of us have to waste time changing. As one can expect, once you are a customer, you are treated poorly, and the rates will keep increasing to above the big 4.

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Hayley G.loans.com.au
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Lida L.

Lida L.Gungahlin 2912, ACT

Not Good Once You Become Their Customer

published

The introductory rate was good with offset account. However, my rate bumped up twice within the first 6 months after I became their customer. Called a couple of times for a rate review but they would not lower their rate at all. Not to mention most of lenders have passed on the RBA cut recently but Loans.com.au always find excuses not to fully pass it or don't pass it at all.
If you are casual or self-employed, be prepared to give them 3 years of income history, at least that's what happened to me. Also be aware it's not free when you decide to leave them.

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Hayley G.loans.com.au
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Todd

Todd

  • 2 reviews
  • 2 likes

18 months into 30 years

published

Best rate when we applied, but they don't pass on rate cuts to existing loans, only to new customers, now I'm refinancing away from loans.com.au as they are ~0.5% above the market price. They happily watch customers leave, take your loan to Athena the first time...

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Hayley G.loans.com.au
Todd
Todd
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Ray

RaySydney, NSW

  • 3 reviews
  • 5 likes

A little bit tricky

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Watch out - attractive interest rate and then....

published

Satisfactory customer service, however loans.com.au are very arrogant and unwilling to negotiate when interest rates become very uncompetitive (+0.75%) above their advertised rate! When approached and a review of the rate I was paying was requested, they refused! So ultimately I've switched to another institution. Watch out and do your homework - Not recommended.

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Not Kind to loyal customer

published

I have been with them for 5 years now. I am very disappointed they didn't pass on full rate cut to customer and actually they increased interest last year claiming the borrowing expenses went up, but the cash rate was the same last year. There is a gap between 0.4 and 0.5 between new and existing customers. It is just encouraging the existing customers to refinance with other providers. While try to keep new customers happy, can you please think about how to retain your loyal existing customers?

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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?

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