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- 5 reviews
- 6 likes
The initial consultation and rates offered were great which inspired me to choose to go with Loans.com.au over another comparable process.
And then began the application process.
Instead of getting a list of all of the required documentation/information at the beginning of the process, the requirements kept evolving as the process went on.
What should have been a straightforward process took significantly longer due to the shifting goal posts.
The quality and timeliness of communications dropped significantly as the process went on as well.
I w...
- 3 reviews
- 3 likes
They quoted me a 1% more interest rate for my car loan than what they have advertised on their website because I live in a rented house. Not sure if it's a norm in other places, but basically, if you are not rich enough to buy a house, you pay "Being Poor Tax"!
Hi Megan, we're sorry to hear you're unsatisfied with your recent experience. We always try to offer the best rates in the market for all our customers. A senior member of our team will be in touch wi...
Read moreth you shortly to see how we can get a better outcome for you.Discharging from Loans.com.au due to very high interest rates. The customer service kept changing originally agreed discharging date accusing another bank. Who is dishonest? Made complaint to AFCA. Trying to resolve discharging issues
We're sorry you're unhappy with your experience and we'd like to look further into your case. Can you please email customerrelations@loans.com.au with your full name, account number and phone number, someone will be in touch with you shortly.
I applied for a loan on a property. It was a realistic offer based on 6 months of research in the area. The valuation came in much lower than the average price. I lost $3000 in deposit, surveys, solicitors and valuation fees. I was not able to request a review or second opinion on the valuation.
Hi there, we're sorry to hear about your experience. We'd like to review your situation and see if there's anything we can do to assist. Can you please send your full name, loan application number and...
Read more mobile to customerrelations@loans.com.au and a senior member of our Customer Relations team will provide an official response shortly.Find out how loans.com.au compares to other Loans
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I refinanced by mortgage several years ago with this company due to the much lower interest rate on offer. However this didn’t last & the interest rate crept up either due to them not passing on rate cuts or occasionally increasing their rate because of ‘addition funding costs’. As a result the interest is now higher than that my from my previous borrower.
It is also significantly higher than the interest rate being offered to new customers on their website.
I have no issue with the service I received in dealing with this company.
Hi Anthony, thanks for your honest review we appreciate your feedback. We'd like to review this for you. Can you please send through your full name, loan a/c number and mobile to loansolutions@loans.com.au and someone can be in touch shortly.
- 15 reviews
- 10 likes
Excellent refinancing a few years ago. Very pleased. However interest rate cuts are not passed on and we were left with no option but to refinance with another lender at much better interest rates.
Hi Adam, we're sorry and disappointed to hear you are no longer happy with your loan. We'd like to escalate your case to our loan solutions team, so please send your full name and loan account number ...
Read moreto loansolutions@loans.com.au and we'll do what we can to assist.Thanks but I've assisted myself by refinancing with a much better rate with another lender. Shame you only keep new customers happy leaving the existing ones unhappy.
- 3 reviews
- 3 likes
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.
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.
App id 80048816
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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!!!!!!
Hi Jeremy, we appreciate you taking the time to leave feedback. We're sorry about the wait time you experienced on the call. If you were unable to resolve your query, please let us know and we can esc...
Read morealate this to a senior member of the Loans Solutions team.- 2 reviews
Have actively taken steps to make it more difficult for customers to compare interest rates
Loans.com.au have taken away the ability to view the interest rate being charged on your loan accounts. Previously this was always visible on their online banking platform through the account details section. Now account details shows basic account information but no longer tells you what interest rate you are being charged. There is only one possible reason for the removal of this information - to make it even more difficult for customers to know what rates they are paying and to compare them to the market. You would think in the wake of the r...
Read moreoyal commission lenders would have stopped playing these sorts of games. I've been a customer for almost 15 years and have noticed a steady decline in competitiveness (for existing customers) and service. Unimpressed.Hi there, to find the interest rate on your loan accounts, you need to log in to Smart Money, click manage, account and account details. We will always want this information to be visible for our cust...
Read moreomers to see. Please let us know if you have any issues seeing your interest rate after following the above steps via customercare@loans.com.au or 13 10 90 and we'll assist you.Find out how loans.com.au compares to other Loans
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- 6 reviews
- 1 like
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.
Hi Alexnat, thanks for taking the time to leave your review. If you'd like to provide further feedback, please send through your full name and application number to customerrelations@loans.com.au and ...
Read moreour Customer Relations team can provide you a response for your individual case.- 2 reviews
- 1 like
Loans.com.au attract new customers with low rate to start, but once you become their customer, they will ignor your request for refinance, or provide better mortage rates, or discharge forms request. We signed up with loans.com.au since mid 2015, after one year lower rate fix, our fix rate or variable rate has been always more than 1% higher than the equivilent new customer's rate. We requested numerous time, they would not do anything about it. Upon we request to discharge, they keep delay in more than a week to send out discharge form.......
Read more while other bank can send out within 60 minutes in same period of time. Their excuses are unacceptable.... eg. the fund that we drawn down when you signed up was in a higher cost, that is why your variable rate will be much higher than current market rates... we need to check a lot before discharge form send out...Hi Mike, we're sorry to hear about your experience. We appreciate you taking the time to leave your feedback as we'll use this to improve our processes ongoing. I've forwarded your comments on to our ...
Read moreLoans Solutions team, however if you have any further feedback please email it, along with your full name and account number to customercare@loans.com.au.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".
Hi Nick, we appreciate you providing us with this feedback. We're sorry you are disappointed with your current rate. We have a specialised team who are available to review your loan. If you could plea...
Read morese send us your full name and account number, and best contact details to our Loans Solutions team at loansolutions@loans.com.au, they can review your loan and give you a call shortly to discuss your options.Will do.
Thanks Nick, we appreciate it.
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- 2 reviews
- 1 like
I can't recommend loans.com.au. I wish I never got involved with them. It has been a struggle every step of the way. After fighting tooth and nail through the process, I find an overly complicated payment system, where I can not directly BPAY into their account from mine. I have to pay into a third account contained within their website in which they will take payments from monthly .. Laborious with inbuilt delays (48 hours).... If you decide to make additional payments, they do not adjust the monthly static payment and you have to log on to th...
Read moreeir horrid website to do so. My experience with other loans is much more streamlined, much more focused on the customer having control. The lower interest rate, I believe is not worth it and will not save you money as you plod through the lengthy process not really being in control.Hi there, thanks for your feedback on your car loan experience and with the systems. We'd like to escalate your case to customer relations and get some more feedback, so if you could please send your ...
Read morefull name, email address and loan account number to customerrelations@loans.com.au and we'll assist ASAP.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.
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.
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
Hi there, thanks for taking the time to share your thoughts. We have looked at our situation and cost of funds after the smaller than normal cut last week. We have regretfully determined that we cann...
Read moreot responsibly reduce rates further for either our new or our existing customers. We operate with thin margins and already maintain highly-competitive interest rates as a standard compared to the major banks. If you have any further questions, please feel free to get in contact with us.Questions & Answers
Are new path lending any good
Thank you @CeeJay for your review. I wish I had seen this sooner as I am facing the same delays and issues with my home loan application. I’m not confident they will come through even though My case is simple and straightforward with all docs submitted. Definitely should avoid loans.com.au!
Hi there, we're sorry to hear you're unhappy with your experience. We'd love to look into your case further. Can you please email sales@loans.com.au with your full name and phone number, and someone f...
Read morerom our lending team will be in touch with you shortly.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.
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Hi, we're very sorry to hear you're unsatisfied with your recent experience with us, and we apologise for the inconvenience. We'd like to look into this. Can you please email your full name, mobile nu...
Read morember and account number to customerrelations@loans.com.au, and someone from our team will be in touch with you.