After waiting 3 months for FHB we said to scrap it and go with a standard homeloan... That was a month ago. Was lied to last Wednesday saying that "credit is taking forever" spoke to the branch manager yesterday and apparently our files were only submitted YESTERDAY! now I'm doubting our FHB application was put in promptly.
Plan on talking to a broker today and will be moving our banking away from NAB
Don’t apply with NAB for home loans!
- highest interest rates than any other banks
- very slow processing
- endless queries
- never ending paper works
- lag the time for next evaluation
So all of the above is quite enough for an applicant to understand how worse is NAB treating home loan applicants!
Absolutely shocking experience
They started taking money from account for home loan before the payment pause expired when I called them to take this a compliant and they provided me afca webite to write a cmplaint/feedback. I have heard worst stories about nab but now I have experienced myself. Please please dont ever go with them.
They don't live up to their name of being big 4, terrible customer service
The staff at NAB Home Loans are absolute shocker, I asked for my loan to be split and was advised it would take less than 2 weeks, it ended up taking 6 weeks and they suggested to me to call back once the loan got updated to discuss interest backdate refund. So i did call back and faced the worst staffer that basically told me to "wait" abruptly, placed on hold, waited for 10 mins, and then she basically hung up on me. I had to call back and was placed on hold for another half hour. For over an 1 hour i was basically on hold, definitely get out of NAB ASAP.
After giving conditional offer and I fulfill all their listed conditions, approval can still be turned down!
I recently try to purchase a house and land and need to apply for a home loan. I apply thru NAB. Later they granted me a conditional approval and listed all the conditions like conveyancing etc. I provided to them all without any problem and looking forward to the final approval. The process is extremely slow and finally the broker told me that their credit department worried that I cannot pay off the loan because I am self-employed and lots of the self-employed people greatly affected by the pandemic. In order to prove to them my work is stabl...e with no effect by the pandemic so far, I provided them my 12 year contract with the big national firm and my pay slip to show them my work is stable and a good income coming in every month during the pandemic conditions. However, their credit department did not want to change their mind and instead turning down my application by giving me a official letter saying that my credit rating is not good enough etc just all the general reason. The whole process took 2 months and ended up with false hope and negative results. This is completely ridiculous and unacceptable because, 1. All their mentioned reason on their turned down letter should have been assessed before the release of the conditional approval. 2. There is no mentions on all these general reason when they list the conditions on their so called conditional approval. 3. Such practice is really chaotic and not professional as they reverse everything back to zero without giving a proper reason. This reflect their so called professional is not really professional at all. 4. Their work procedure is chaotic and contradicting themselves.
Terrible customer service!
- no reward for an existing customer, they offer new customers much lower interest rates.
- the customer retention team who are supposed to keep the customers happy offered me a higher interest than the normal customer team, what a joke!
- waiting time to speak to anyone can be up to 2 hours and then they hang the line, you have to try more than once.
- they have shown zero customer care and sometimes I felt that their tactics are very shifty.
Unacceptable time frame for loan approval.
I applied for a relatively small commercial loan in March of 2019, approval was finally given in September 2019. The Banker acknowledged this was not an ideal time-frame but excused it by saying that "this is how things are now". Really? I submitted all information as requested, but kept receiving emails asking for more and more detail. I felt I was being strung along most of the time, and it was not until I threatened to walk away from the deal that things finally happened for me. I know that because of the Royal Commission the Banks are ultra...-cautious in their lending approvals now...but honestly....they are causing real anxiety for people. I got even.....scrounged up every dollar I could, and paid out the loan in full last week. GOODBYE NAB....and I won't be back EVER.....and do you know the most disappointing thing about this??? I worked for Nab for 12 years as a personal and business banker....and NEVER treated any of my customers like this. The only reason why the Royal Commission came down hard on the Banks was because of their appalling dishonesty....and once again...the customers suffers for it.
Worst Customer Service/ Won’t recommend NAB to anyone
I started a land loan application on 02/07/20. I was given a surety in writing that the application will be processed by 31/07/20. It’s still not processed.
I understand that sometimes process can be delayed. I was told to extend the date twice 19th to 31st and then from 31st to 7th. I kind of understood the first time however the second time I am worried because I won’t be able to extend the settlement date further and on top it’s costing me money every day. We are paying penalties every day for the extended period we requested. We are on the...verge of loosing our land deposit. They don’t provide any updates and when I call to get updates I don’t get any response. It’s really very frustrating. Every time I called I had to wait 30 to 40 minutes just to be told that the person who’s dealing with the file is busy or he’s not available. Staff is avoiding our calls. I am getting different information from different people. I have been advised first that the file was with credit assessors, then for quality review then for valuation and then again for quality review and now its with credit assessors again. The whole process has been a debacle. It has given us a lot of stress and anxiety during these difficult times when we already have enough on our plates. Seriously I don’t know as a customer where should I go? NAB Customer Service operator has put feedback twice but it seems like nothing happened.
Fantastic Rates! Great customer service!
Recently refinanced 2 loans from Bank of Melbourne and the rates with nab are fantastic! 2.19 fixed for 2 years owner occupied. 2.69 fixed on my investment property! So glad I made the move it has saved me nearly 10k in interest a year. Also the customer service over the phone is brilliant! Thanks NAB already recommended you to friends and family.
Blatantly Stupid Logic with their credit scoring
My Salary after tax is $9K plus per month
No credit cards
Car loan - $765/ Month 23 months remaining
Still rejected a loan of just $450K (Approx repayment $1700/month )saying a credit score of 771(which is considered very good) is not enough
13 Weeks and Home loan Application Still Not Approved!
All home loan application details were completed on 18 February and am still waiting for approval! NAB are completely hopeless in every area of the home loan application process including communication. Wish I had not applied with them, it has cost me a over $1500 in extra interest while they mess around. They make no apologies just make weak excuses, the last one 3 weeks ago. Do not believe the NAB web site which states a 4-6 week time frame to complete your application, that is a lie. If you are considering a home loan avoid NAB at all costs.
Hassle free service from Winnie Cheng, 800 NAB. Amazed with her service and timely help. within 2 days she got the pre-approval for me where broker took 2 months.
This is worst experience for my first dream home loan
I am actually speechless about my anger with NAB. Their people are very inefficient I guess. I had conditional approval already several times, but again they asked for papers. My settlement was delayed due to manual auditing; again now building loan is delaying. It was pre-approved 2 months ago but now showing processing to pre-approval. They main anger is with the banker. She doesn't answer the phone, don't reply to emails and even ignored my when i went to Bank. So please avoid NAB (specially Belconnen ACT branch)
Their loan settlements team should all be FIRED. You incompetent useless TURDS!!!!
I actually didn't apply for a loan thru NAB. Just the vendor of the property I bought unfortunately had these useless tossers as a bank. It was meant to be settled on the 12th of Feb initially. Vendor solicitor, vendor, my bank (CBA), my solicitor, everyone is fine and ready to settle then NAB replies oh can't settle on the day of the settlement then says oh we'll settle on the 14th of feb. Then again sends a reply to the solicitor saying can't settle today either at 1pm. Doesn't give a date at all for settlement, just straight into the ether. ...This is all done through PEXA. Everything is in, except for the idiots at NAB who keep delaying for NFI reason because they're playing grab your pin crap in the settlement team of scum. You call yourselves a business bank? As if you pathetic tossers. You should all be licking the gutters on the streets. Specially you [name removed] you maggot customer service tosser. You are an embarrassment when you have a team like this knob. Your bank will never go anywhere. Anyone buying property or conducting business just stay the f away from NAB halfwitss.
Slow and Inconsiderate
We applied with NAB through our broker for a home loan. We are first home buyers. We had conditional approval, they had 3 weeks before finance was due on the property and they missed that deadline. Then we were told through our broker that it would be another 3 weeks before we'd hear anything, which would be past settlement date. We are in the process in applying with another bank. Stay away from this bank like the plague. They'll cause unwarranted stress.
Avoid NAB Please!
Never bank with NAB, especially home loan and Credit Cards. The staff do not know how to treat customers. I am desperately looking my contract tenure be over so that I can switch it to another bank. Please listen to other people and avoid NAB.
stuffed me around and almost cost me my house
worked with them for 3 weeks while i had a deposit on land and build, they had all document's needed and appoved my finance to at the last minutes before settlement to tell me the credit team would not allow spit construction loans any more.. i could possibly lose my deposit and house.. and they dont care why would they not say this at the start so i could find another lender rather then drag me around for 3 week and possibly cost me everything.. horrible
The Worse bank ever!
This must be Australians worse bank ever! Highly offensive staff with scripted dialogues, no common sense and general inability to assist with any issues.
I am so glad that I have refinanced all my mortgages and banking with another bank. I have also moved all my business banking to Westpac and I have never been happier.
NAB is like a dinosaur with their technology and processes. At least I have learnt my lesson to never bank with NAB and I encourage all others to ditch this awful bank and refinance with another bank so you can actually enjoy your money.
Home loan retention team treats you like an Idiot
Just come off the phone from the home loan retention team with J.... Got treated like an idiot and basically was like a sales call, wanting me to do more business with them and channel more their way. I wanted to give them an opportunity to do something about my rate. Obviously NAB does not need customers. You lost me as a customer after the experience with your just about insulting Team Member
Questions & Answers
How long is processing time at the moment for home loan pre-approval?
What does it mean if your application was on nab online than a few days later it’s no longer on it/
Just been offered fixed rate 2 years 3.69 from my current rate 4.29 yet told my repayment won’t change? Why ?
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