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ME Bank Home Loans

ME Bank Home Loans

1.7 from 67 reviews

See the Best Home Loans in 2019 as rated by Australians on ProductReview.com.au.

Avoid this bank at all costs

They gave preapproval for a loan and I found a property. 1 hour before going unconditional they came back stating the figures that they used to calculate serviceability were wrong and dropped the amount by $180K. Of course I lost the property. They are completely incompetent.

Customer Service
Application Process
Loan TypeVariable Rate

terrible soul destroying bank

this so-called members Equity Bank doesn't even deserve 1/4 of a star let alone one star
this any bank was set up by the superannuation industry and the unions
so what would you expect? A well-run bank or a bank run by the foxes who are guarding the chickens
when you go to hardship or have a loss of a job the M E bank comes down on you like a ton of bricks
so run don't walk from this fake bank, have nothing to do with it

Customer Service
Application Process
Online Tools
Loan TypeLine of Credit
Loan Start DateFebruary 2017
Loan used for:Renovation

Service gets worse by the year

We have had 4 homeloans with ME and each time the service gets worse. Today they jacked my interest rate from 4.29% to 5.8%!! Was passed through to the "retention" team to discuss options to retain my custom. Staff member was abrupt and failed to offer anything other than to state their current full rates and to belittle all competitors. She ended up basically hanging up on me after saying she would just send me a discharge form. Hardly best practice fro someone working in customer retention. Found a much better deal elsewhere and will never use or recommend ME to anyone.

Strung along for 3 months with application, 100's od documents and a "no"

Me bank required so many documents and strung out the process for months. They asked for one document at a time, and because it took so long, I had to re-send the same, more up to date documents such as personal loan details and credit card details. At one point I was asked for a marriage certificate and statutory declaration to prove who I was, despite the fact that they had my passport and driver's license copies. It was a long, frustrating process which ended with great disappointment. The whole process involved around 80 emails and probably close to 150 documents.

Basically they dont want to lend you money!

This ME bank which is full of jokes tortured you with all the ID things and your proofs of finance.... then they always preset you with unconditional approval and lodged your form in for the real official approval. Then you had to wait for the letter of offer to arrive....!!!!!!!!!!!!!!!!
The funny started after that, you may have to give in more proofs of finance, your signature might be not that clear, certain forms had to be redone, witness of your ID, signature...you bl..y name it!
They ate your time until you could barely stand and quit or lose ....It is a joking and wasting time bank...Avoid it by all means ....would you?

Be Very Careful!!

Everything was fine and going well and I was very happy that is until ME Bank decided to increase my interest rate from %3.74 to %5.03 without warning.

Terrible experience

Keeps asking one document at a time and the pre approval itself might take more than a month. They have no idea themselves what documents they need to verify to approve the loan.

Never go to ME Bank for a Home Loan

Never go to ME Bank for a home loan. I applied for a home loan from them way back in April 2017. I got conditional approval. However I am still waiting for them to finance the loan. My land needs to settle on 9 august and I still haven got the finance from them. They keep sending emails asking for single documents at a time and most of these documents were already issued to them. There is not one single person who you can talk to who will take responsibility for this mess up and I keep getting palmed off to different people. Although their interest rates maybe low but terrible service. They just don't care about their customers. They lie to you about calling you back but never do so. Logan Anderson was supposed to call me back but he never did and now he's unavailable for the next few days whilst I have 10 days to get the loan financed. I can't even go to another bank due to the time constraints. Terrible bank.

Didn't know what to expect however I have been pretty impressed and highly recommend

My wife and I were looking for a affordable no frills home loan for our existing house. We have been with them now for over 2 years and couldn't be happier. The application and approval was straight forward. Online banking is really easy and any time I have needed to call up they have been more then helpful. Been a great all round experience so far.

Big Thanks

The bank Home Loan Department is highly professional with wonderful customer service.

Last month due to other bank delay, my IIA seemed impossible for last financial year. I called the bank and never thought it can be done at such short time, but half hour later the Bank told me that they can do it. The bank staff worked so hard and guided me each step. At 30 June, I was so happy, the transaction went through successfully. Thanks for the whole team.

A pathertic bank

I have a term deposit with the bank ... around $170K. The term deposit does not mature for around 6 months time. I have a reasonable salary of more than $135K per year. I requested them a personal loan of $15K for a period of 1 year that I was sure I will pay off in 2 months max - I offered them my term deposit as a security (which was 10 times the proposed loan value). They refused the loan application putting a negative credit score for me. When I asked for the reason, they have a policy of not telling you the reason instead a very vague answer that so many things are considered while assessing the application. The team who assessed my application was either on drugs or they just didn't care about the bank or the customer. I have been asking them to give me a concrete reason for the refusal and every time they refer me to a different team who can't do much .... a really pathetic bank. Please do not deal with this bank for your own sake. Extremely stupid and illogical !

WARNING! No attention to detail and terrible service.

We were in the process of getting a loan.
Got the documents from ME Bank.
There were errors in the Form 2 (The mortgage document).
There were extra fees that were not disclosed initially.
Tried calling ME bank THREE times.
First time: "Our systems are down at the moment, please call back"
Second time: "Hung up on, or lost between transfer to a different department"
Third time: "Got some disinterested kid who told me it's my broker's problem."
It was not my broker's problem. It was an ME bank form.
Have bought and sold a few times in my life. This was far and away the worst I've seen.

Don't do it!

Great bank, highly recommend

I love this bank minimal fees, great customer service, I should've joined them sooner you're not just a number with this bank

service??? what service??

I deal with 4 banks regarding term investments, the other 3 it takes me no longer than 5 minutes to complete on line and no paper work ME needs 3 pages of application each time and up to 5 days processing and advising me to transfer funds, ME should be de-registered, don't know how they got a good bank rating elsewhere, they must have paid some one for the review.

They give you loan approval and then take back half of the money.. Great!

I signed up for a house and land package with ME Bank providing unconditional finance approval in June 2016, after the land had settled they then pulled out half of my mortgage leaving me with a block of land and no finance to build the actual house!!

I have called, left messages, emails, everything and they simply do not care that they have rendered me homeless and paying off a pile of dirt with interest over the last 9 months!

I regret the day I ever signed those ME Bank forms,


Refinancing a current personal loan, NEVER AGAIN!!
Slow, Misplacing paperwork, Missing emails, No communication.

I do not want to hear the word sorry again.

Total Rip Off High interest rates

As a ME Bank Home loan customer for over 5 years, I have just recently realised how badly I was ripped of for soooo long. Their interest rates are a whole 1 - 1.5 % above the other lenders.

They will make you pay a lot initially... stamp duty LMI wont be capitalised, you pay for the banks charges too. Overall you have a to shell out a larger deposit with these guys.

Variable rates are now at 4.83% for one of my loans.

They are the true Comparison rate cheaters. All big banks and ME bank charge similar initial charges and yearly package fees, yet only ME Bank advertises the lowest Comparison rate...

And all this without even having a people facing branch in my city.. They should offer the lowest rates in the market for their service..

Ofcourse they claim to be the lowest but are they?

Total waste of time.

We waited for 5 weeks to be told that we could not get a home loan. They knew the first week. They did not know what they where doing and may have missed out on our dream home because of all their waste of time when we could have applied to other banks,

Customer service non existent

Don't bother with dealing with these idiots if you value your sanity !!! Trying for 4 days to complete a direct credit transaction and no luck and certainly no service

An appalling approach to customer service.

This bank made an error, acknowledged their own error then refused to fix their error. It concerned underpayment of interest. I have forwarded my complaint to The Financial Ombudsman.

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Questions & Answers

once you approve a home loan how long before i get the loan documents to sign? & then how long does it take for my refinance from my existing lender (choicelend) to go through? thanks
No answers

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