ME Bank Home Loans

Our current three loans of 2.49% fixed interest P&I loans with ANZ expired 7 May 2022. We engaged a broker end of January & he was able to offer 3.19% for 3yrs fixed with ME Bank. We were given an option to pay $750 per loan to lock this rate in, which we did. The process with ME has been very very slow. We had three unconditional loans approved in writing by ME Bank. We received two loans documents mid-March, we sent completed signed docs back within days. We waited six weeks our loans had not been processed. Meanwhile the broker was calling M...

I have been offered a $3K cash back 24 hrs after settlement; after settlement they told me that the offer will be paid 3 month after settlement; after 3 months they did not paid the offer.

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 Lower interest rate than the big 4 but you pay the price with the wait times and outdated application process.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!

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.

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 !!

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...

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.

Refixed my home loan with ME Bank after three attempted phone calls to get through (eventually just waiting and waiting which isn't easy when you have things to do). After a long phone call to fix it, it's 12 days later and nothing has happened. I'm still being charged the higher old rate and the money I added into my home loan hasn't been absorbed into it. And despite sending two emails, I'm stuck with making another dreaded phonecall and waiting endlessly again. Doesn't make life easy for working people that they only take calls during the same working hours that their clients work. Go somewhere else if you're looking for good service!

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.

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 ...

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

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...

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.

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.

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 ...