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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.
- 3 reviews
- 5 likes
Applied for a Smart home loan which was an easy process through onTrack, pre-approval was given as I have a 20% deposit. When it came to purchasing the house I paid for the valuation which was $220 dollars as they do not pay for this. Once the valuation came back it was 40k less than the purchase price. In all honesty, I think the valuer just did a drive past and did not look into even the street sales. Two houses on the same street sold above the property I was looking for which I found funny. Either way, I believe this company shows you an am...
Read moreazing interest rate but will value the house lower by a fair bit. Then they will offer you a higher interest rate and pay LMI ontop. In this case, they offered me a 3.09% interest rate and to pay lmi on top because I didn't have the 40k to pay upfront. Be aware I think these small banks try to build up equity this way or to catch you on to a higher interest rate once you are on the final processes of purchasing.
- 8 reviews
- 11 likes
Dear loans.com.au,
I'm writing to explain why I left and it's not me... it's definitely you.
We first got together when I needed a mortgage. You tempted me with a better offer than my own bank, Commbank. I even gave you a 4 star review on this site. However, you've changed.
Lately you've been advertising floating mortgage rates for new borrowers at 0.6% less than what you charge me. Even Commbank are offering mortgages at a quarter of a percent less.
So I called you and said I was looking to re-finance my loan. You said no. You said if you...
Read more refinanced my mortgage it would be at a slightly higher rate than my current one, not the 3.48% you were flaunting on the Interweb. I'm good at maths and stuff, but I didn't understand that at all. Please feel free to explain.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.
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
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Hi Lida, we appreciate your feedback and honest review. Thank you for the high rating of our Online Tools. Please contact us at customercare@loans.com.au with your full name and confirm the suburb so ...
Read morewe can look further into your individual situation regarding your rate and please feel free to leave any further questions or feedback you have.