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ME Bank Home Loans
- 2 reviews
Slow Service and Outdated Application Process
ME Bank is great for banking however they do not excel with home loans. Lower interest rate than the big 4 but you pay the price with the wait times and outdated application process. We had to send our pre-approval application via mail which significantly delayed the process. After 4 weeks, several emails requesting updates on our progress and false promises that the wait times were ‘getting shorter’ our mobile banker finally looked at our application and requested more documents as the ones we sent were now too old. We ceased our application with ME and went to Macquarie who completed our pre-approval in 3 business days. Look elsewhere!
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- Customer Service
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- Online Tools
- Incentivised Review No
- Loan TypeSplit
- Loan Start DateDecember 2021
- Loan used forFirst Home
- 2 reviews
Still stressed by the experience
Had many problems including a change of their system no longer withdrawing loan amount from linked account, talking to representatives who provided false information and these resulted in extra payments and default notices. Also took 13 thousand off the money sitting on top mortgage without notice. Closed accounts without any communication- very stressful.
- Transparency
- Customer Service
- Incentivised Review No
- Loan TypeVariable Rate
- Loan used forFirst Home
Hi Rhino, we’ve recently moved some of our older loan products to a newer banking system. I apologise for the stress that this has caused, we aren’t able to look into anything via Product Review. But ...
Read morewe’re definitely wanting to look into this for you, so could you please give ME a call on 13 15 63 or send ME a secure email from your internet banking ‘Messages’ and then ‘Contact ME’ with some more details, we’ll do our best to follow this up for you and try to resolve the issues that have occurred. - JeremyGreat service and rates
My wife and I searched many financial products via our Financial Advisor, No Fuss Home Loans, and came across ME Bank. Although not the lowest rate, they were quite low, accepted us as borrowers even though we are 'older' people, and best of all accepted our loan application with only 5% equity. The only issue was that the Variable rate lock-in was left out, but this was quickly resolved by ME Bank no questions asked. We found the service was great,-- we did it via our Financial Advisor::
Kathy Dundas [www.nofusshomeloans.com.au]
AND, our conveyancer who helped us with property contracts::
Michelle Nassif [tri-stateconveyancing].
With ME Bank on our side, we had a great team. No fuss, no hassle.
THANK YOU ME BANK !!
- Transparency
- Customer Service
- Application Process
- Timeliness
- Incentivised Review No
- Loan TypeSplit
- Loan Start DateJune 2021
- Loan used forFirst Home
Hey Murray, Welcome to ME! We're glad to hear that we were able to help you out without and fuss or hassle - Jeremy
- 2 reviews
- 1 like
Worst bank experience in 25 years
My Odyssey in Bankingland
Three times i had to resend a discharge form for a sttlement of our property in Brisbane. MEBank has never confirmed or otherwise if documents sent were in order. A week later - we called them (40-45 mins) and were informed that we had to resend documents again (it was our inexperience). One would think that bank will get back to you by email or phone to let you know? Not really. It was entirely our problem
---second call (just under 40 mins) a representative went through our forms and confirmed several times that ev...
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- Incentivised Review No
- Loan TypeFixed Rate
- Loan Start DateJune 2019
- Loan used forInvestment Property
Find out how ME Bank Home Loans compares to other Home Loans
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- 2 reviews
- 3 likes
ME provides the opposite of customer service
last year ME Bank stuffed up my redraw facility. Now I have been on hold for an hour so far because they do not answer their phones, and you have to request a loan discharge form over the phone. Forget doing business with this worthless lot.
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- Incentivised Review No
- Loan TypeVariable Rate
- Loan Start DateDecember 2001
- Loan used forFirst Home
Customer service does not exist
When trying to close out mortgages there is always a delay even after being given six weeks notice. Each time they have blamed someone else however taking the opportunity to charge the extra interest. This has happened three times. It appears to be a trend.
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- Online Tools
- Incentivised Review No
- Loan TypeFixed Rate
- Loan used forInvestment Property
- 6 reviews
- 7 likes
- Verified
Frustrating customer service
I've hated dealing with ME Bank since my broker used them for my home loan. They consistently give advice for the wrong product, or only partial answers for another product. I've asked them to investigate advice I was given over the phone and they ignore the question. They refuse to acknowledge that I can't access their phone service due to disability trying to push everything through a case manager that won't help. Email assistance turn around time can be a high as 10 business days and due to partial or generic advice mean a further 10 days ...
Read moreas you try to get them to answer. Assisted calls mean a wait of 30 minutes to 2 hours if you don't get cut off or hung up on. Some of this I could absorb if the product was worth it but my loan interest rate is more than twice that of other banks and I've already negotiated They have no interest or respect for their customers eg: when I was taking out my loan I was called "dude" by a representative multiple times. The silly jokey ads are not marketing. They are really treating you like a joke. I hope that the acquisition by Bank of Qld will clear this out. Time to leave- Transparency
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- Incentivised Review No
- Loan TypeFixed Rate
- Loan Start DateOctober 2017
- Loan used forInvestment Property
Related Articles
Hopeless bank as once existing customer. Been unable to update my home loan. It’s been six weeks and 3rd attempt
3 times I have tried to reduce my rate for my homeland. Currently awaiting paperwork to be emailed and so far it’s been six weeks. Very unhelpful and very slow to help you reduce your home loan rate but quick to ring if my credit card is overdue. Very frustrating and hopeless bank once you are an existing customer
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- Incentivised Review No
- Loan TypeVariable Rate
- Loan used forFirst Home
Incompetent and arrogant. Don't fall for the cool marketing image!
This bank projects a cool and friendly image in its ads, but don't believe the marketing. The reality is a mixture of incompetence and arrogance. The first giveaway was in the lead-up to my home loan settlement, when the bank sent me a package of 4 documents to sign, but with one of the four documents missing. This was a completely standard owner-occupier loan that they probably write thousands of each year... how hard can it be to send 4 simple documents? It was all downhill from there. They managed to link my online savings account to a...
Read morenother ME account (instead of an external account), which meant that I was unable to access my money in the account - had to waste more time of the phone to fix a problem that should not have happened in the first place. I was promised a 0.25% discount on my home loan as a NTEU member, this discount mysteriously disappeared after just a couple of months - never received any explanation or a reason from the bank. Interest rate cuts (2019-2020) were routinely either not passed on at all or only partially passed on. When I decided to refinance, I called ME Bank on the off-chance that they might offer me something better rather than lose me altogether; the customer service person I spoke to was so obnoxiously arrogant that there was no doubt in my mind after that call about going elsewhere. Their "parting gift" to me was to delay my refinance settlement by a month because they lost a document my conveyancer had sent to them early in the process. This one month has cost me several hundred $$ in extra interest. Needless to say, I am glad to have said "Good Bye" to them, and I have no intention of ever dealing with this pathetic excuse for a bank!- Transparency
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- Incentivised Review No
- Loan TypeSplit
- Loan Start DateNovember 2018
- Loan used forFirst Home
Find out how ME Bank Home Loans compares to other Home Loans
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- 4 reviews
- 4 likes
Hopeless customer service at this bank!
I am now refinancing with another bank after the poor I received from Me Bank last year. I have a home investment loan with them which I had to pause repayments during Covid restrictions. Due to the poor training of their call centre staff, I was treated like I was in default and you always wait at least 20 minutes to talk to someone. I lodged a complaint with the banking ombudsman and in the end, they offered $200 to settle my complaint.
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- Incentivised Review No
- Loan TypeFixed Rate
- Loan Start DateNovember 2015
- Loan used forInvestment Property
Would not recommend an investment loan
Loyal customer for 5 years tried to negotiate lower rates as paying well above average. Interest free period has also ended. Was advised that it would be easy to reapply for interest only, but rejected. So now stuck paying high rate and principle. I have a second loan with another bank that I am paying a significantly lower rate with and interest only. ME Bank have passed on a small cut, but interest rates are already high so still well above a fair amount. I would never recommend this bank to anyone, my broker can't even deal with them anymore so I have had to myself.
- Transparency
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- Application Process
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- Online Tools
- Incentivised Review No
- Loan TypeFixed Rate
- Loan used forInvestment Property
- 12 reviews
- 8 likes
Started out great!! Have become bad!!!
Found ME to be excellent for the first 15 years or so, couldn't be better. Going down the gurgler in the last few years!! Their rates were always quite a bit below others in the past, now one of the most expensive around which is hard to believe as they are not a full blown bank with branches etc to cost in?? Wait times on the phone are long & then told someone will call you back within the next 2 days???? What!! I finally get a day off during the week when I can call & sort stuff to be told that, ridiculous!!!!! When we call you guy's we need ...
Read moreto talk to someone there & then when we are in our home/work office with all relevant info, pen, paper, computer in front of us. Not at work sweating, in front of customers, unable to concentrate with nothing at hand that we need to make the call useful. Also new customers get looked after better than us 17 year loyal customers with offers of more attractive interest rates. To be fair they did drop my rate after asking for a better deal but it still wasn't very competitive. I think I need to leave this crowd.- Customer Service
- Incentivised Review No
- Loan TypeVariable Rate
- Loan used forFirst Home
Find out how ME Bank Home Loans compares to other Home Loans
Know better, choose better.
- 2 reviews
- 4 likes
Absolutely disappointing!!
Long waits on the phone, online app is very basic and crashes all the time, very long time to process requests. I was expecting good customer service because it's a small bank but overall it's been very disappointing
- Customer Service
- Timeliness
- Online Tools
- Incentivised Review No
- Loan TypeFixed Rate
- Loan Start DateDecember 2017
- Loan used forFirst Home
- 2 reviews
- 1 like
Messed around
Had verbal pre-approval from an ME representative to buy a house more than a year ago. Good loyal client with strong savings record. Borrowing well within limits. Permanent, covid-safe job. Recently successfully bid at auction, subject to finance (14 days). ME messed us around for 5 weeks and then finally said no. No real explanation, nothing in writing.
Many others would have lost their deposit at that point. Fortunately a rival bank has been very helpful. Stress was increased by a lack of communication. We had to do all the following up with ...
- Transparency
- Customer Service
- Application Process
- Timeliness
- Online Tools
- Incentivised Review No
- Loan TypeVariable Rate
- Loan used forFirst Home
Disgraceful bank
Mebank ripped me off, charging $400 on top of a high rate. When I stopped them taking my $400 they increased interest to 4.75%. 11 years as a customer. Scum.
- Transparency
- Customer Service
- Online Tools
- Incentivised Review No
- Loan TypeVariable Rate
- Loan used forFirst Home
Questions & Answers
Hi. which one is quicker - processing a new construction loan or processing our release paper?
Hi there! So that we can follow these matters up for you, can you please give ME a call on 13 15 63. - Jeremy
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
Get an answer from our members and ME (Members Equity) Bank representatives
Details
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Hi Caitlin, thanks for sending this feedback through and I'm sorry you've had a poor experience with ME. As Product Review isn't a secure channel, I'm unable to pass on any feedback from here. If you ...
Read morewould like to log some feedback or have a chat with someone about your experience, please give ME a call on 13 15 63 or you can also send ME your feedback in a secure email through your internet banking and we'll follow up on this for you. Take care - Kady