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ME Bank Home Loans

ME Bank Home Loans

1.6 from 123 reviews · View Statistics

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John V
John V
  • 2 reviews

Just Another Bank - Nothing Special

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I’ve been a loyal customer of (Members Equity) ME Bank, now owned by The Bank of Queensland) for more years than I care to remember.

However, I can remember when it wasn’t generally known by borrowers (certainly not advertised by banks) that paying your mortgage fortnightly, instead of monthly, would save you quite an amount interest over the term of your loan.

I can’t help but wonder why ME Bank recently started charging interest on your home loan weekly, as opposed to monthly.
Does this change of policy work in favour of the bank?

  • Incentivised Review No
ME (Members Equity) Bank
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Caitlin T.
Caitlin T.
  • 2 reviews

Slow Service and Outdated Application Process

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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 Lower interest rate than the big 4 but you pay the price with the wait times and outdated application process.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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ME (Members Equity) Bank
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Joe D.
Joe D.
  • 2 reviews

Home Loan

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Customer service is terrible. Waiting times in excess of 30 minutes. I understand in the safety and paper trail world, but modernise your system. The mobile app has improved somewhat and is quicker to load. The online banking features are rather basic and can't access statements from closed accounts.
Still lacking Osko for fast pay.
When you try to negotiate a better loan interest rate, they are all unhelpful until you have put in the documents to refinance with another lender. Refinancing is slow and brokers have to prompt so as not to miss the settlement.
Technologically poor banking system is ME that I can't bear to deal with any longer.

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Roger P.
Roger P.Sydney, NSW

Hopeless

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28 days to discharge a loan - it took half that time to get a new one approved.
When I called to check they were unable to find the discharge request.

  • Incentivised Review No
  • Loan TypeVariable Rate
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Stan M.
Stan M.South East Queensland, QLD

Incompetent and arrogant. Don't fall for the cool marketing image!

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Scott M
Scott MSunshine Coast
  • 12 reviews
  • 8 likes

Started out great!! Have become bad!!!

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furb71
furb71Sydney, NSW
  • 4 reviews
  • 2 likes

Very average customer service

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I have been with them now for some years but find them particularly average in their customer service. Long waits on the phone ("due to overwhelming demand....") when we all know it's about cost cutting. This bank is supposedly owned by unions and industry super funds which is good but from the customer point of view there is no difference. They couldn't care less and are no better than Westpac, NAB etc. Any letter or email I have written to them has been ignored. I think it's time to move my loan as they aren't even that competitive.

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Robbed, then received apology and company action corrected

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Lewis
LewisPerth, WA
  • 2 reviews
  • 1 like

Farcically Poor Service

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J Hwang
J Hwang
  • 2 reviews
  • 2 likes

Great/easy refinancing as a new customer, absolute nightmare when you discharge the mortgage

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Mebank were one of the easiest bank to refinance and sign up with. Even when they got their rates wrong, they were prompt to rectify the fault. 5 stars for the sign up and interest rate, they were very good!

However, all good things must come to an end, unfortunately we had to refinance and it was sad leaving a great bank. The mortgage discharge team was poor, probably insufficient staffing. Their lawyers (Galilee) were poor in communication, the discharge took them over 40 days to complete. What annoys me the most is that after 3 weeks of refinancing with the new bank, Mebank still cannot generate a account closure letter!!!!!!!!!!!!! 1 star

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Kate W
Kate WAdelaide
  • 2 reviews
  • 3 likes

Slow Slow Slow!

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ME Bank's service is slow! Sent an enquiry about closing my account and had to chase them up with no response after 5 days. They apologised, then told me my account would be closed in 10 business days. It's been 20 days and the account is still open. My mum submitted an application for a savings account and after a month they still hadn't opened it (she ended up cancelling and went with Virgin Money instead).

I'm only giving them two stars because their First Home Saver Account was great when it was available.

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tash
tashPerth, WA
  • 2 reviews
  • 4 likes

Useless!!!

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Have been waiting almost 3 weeks for pre approval on a home loan, have only been told today they are finally doing employment checks! What have they been doing all this time. If we dont have it by this afternoon they can stick it where the sun doesn't shine.

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christos
christosSydney Surrounds, NSW
  • 4 reviews
  • 7 likes

Very Slow Loan approval

published

We have many different accounts and loans with ME. Overall a good bank rates are good. However don't apply for a loan with them unless you have all the time in the world. No urgency with ME. they need to get in the real world, their tardiness has almost lost us our property purchase. The vendor has extended our cooling off period twice and will not a third time. we may lose our deposit and the property.

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Rates Good, Customer Service not so good

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Questions & Answers

EyeDee
EyeDeeasked

Hi. which one is quicker - processing a new construction loan or processing our release paper?

1 answer
ME (Members Equity) Bank
Digital S.ME (Members Equity) BankSend a private message

Hi there! So that we can follow these matters up for you, can you please give ME a call on 13 15 63. - Jeremy

Sam D.
Sam D.asked

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

Get an answer from our members and ME (Members Equity) Bank representatives

Extra Information

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Pav

Lendi are amazing

by Pav on 17 Aug 2022
I spoke with Jo-lene after organising an appointment and within 2 days all the paper work and all forms have been sorted and sent for approval. I aske... Read full review

Lotty

Shane Finney. Thank you!!!!

by Lotty on 17 Aug 2022
We’ve had a wonderful experience with Shane Finney from lendi. He was always so helpful and available. I look forward to engaging with him in the futu... Read full review

Susan Dhu

Amazing service

by Susan Dhu on 16 Aug 2022
Customer service was brilliant. Maddie and the team were always ready to answer questions or help with document uploads, even helping after usual work... Read full review

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