Hassled Every Time!
I havent got a home loan with NAB nor would I ever!! Currently have an everyday account with them and EVERY SINGLE TIME I go into the branch for whatever reason I get the same Home Loan speech and I dont like being rude but it is so annoying!
No Accountability Whatsoever
Wish I could give negative stars.
I have a current loan with nab for an investment property. In august 2016 I had bad tenants leave and had to make an insurance claim. I also had to repair/replace things that weren’t covered by my insurance.
In March 2017 I refinanced my loan with nab and extended the loan by $40k to fix the property. 5 year term. Interest only.
Insurance company was taking ages to get everything fixed so instead of renewing my lease I decided to move into my vacant (under repair) investment property as I couldn’t aff...ord to keep paying the mortgage plus rent. Called the bank to explain and advised I’d like to pay more than just interest only while living at the property to knock the balance down a bit. No problem apparently.
Direct Debit Fraud
NAB is practicing direct debit fraud on the people of Australia, stated in the recent RC into Banking NAB is also bribing customers accountants to achieve this. To detect Direct Debit Fraud you must apply the process called Audit of Accounts to your bank statements. You tally the number of transactions not the monetary amounts. NAB was also fully aware of this process for 5 years yet did not address it once. Qualifying evidence they do not fix anything. There has been an 80% increase in Direct Debit Fraud in the last 5 years according to the AFP website. People need to be made aware they can remove your payments from your facility which causes the facility to rupture and be foreclosed on.
POOR HOME LOAN managment team KNOX CITY VIC
Very disappointed with the service !!! Nab has provided me!! wasted my whole one week!!! I have been their customer for 25 years with 4 of my properties, they have all been paid off and the loan has been close off!!! I have only asked for 50 thousand dollars to withdrawal on my apptment, a female home loan specialists in the knox branch said"I spend more than I'm earning!!! That is my problem as long as the payments have all this time have been paid off!!! Now I have refinanced with ANZ they approved my loan instantly with 283000 dollars I was very pleased but only need 50 thousand! Please dont waste your time with NAB and move on to another!!!
Very bad experience with construction team UPDATED
They delay each and every progress payment, that's not even an issue for them.
What happened with our final payment was the worst stress ever.
8 business days after we submitted the claim, nab asked for the occupation certificate to release the payment. The problem is that we cannot get OC without getting the keys and finalizing something around the house. We provided them with a letter from our certifying authority which says what needs to be done before issuing OC. and of course we cannot do anything around the house before we get the keys ...
Rubbish service. Don't apply for any sort of loan over the phone or online. You'll be better off app
I've been with NAB since 2010. The main reason why my partner and I opened an acc through NAB was to make it easier to apply for a DHOAS loan. Most of our savings were on the NAB acc. It took us nearly 3 years to save for a house deposit. Long story short, last month we finally decided to buy a place in Sydney. We already had over 20% deposit. I went ahead and applied for a DHOAS loan via NAB online / phone. We spoke to the NAB loan specialist who was based in Melbourne. We then submitted all the required paperwork the next day. The NAB loan sp...ecialist never communicated with us and i literally had to chase her everyday to get some kind of updates. After nearly a month she still didn't tell me that my loan app was rejected due to my living expenses were apparently being too high although my partner and i combined salary is over $140k, no kids,excellent credit ratings,more than 20% house deposit stamp duty already paid. All the other banks (ANZ,CBA,WESTPAC,ST GEORGE,BANK WEST,DEFENSE CREDIT) have approved my loan application within a week. Also when i went back to an NAB branch the mortgage specialist there had a look at my file and realise that the person i had spoken to didnt correctly entered some of my details because she didn't understand how my payslip. Unfortunately he couldn't do much as their credit team already rejected my application. I will most likely close my account with NAB next month. My advice to everyone..Never apply for any sort of NAB loan through the phone or online.
Waiting 8 weeks for a construction loan approval
We have applied for a construction and still waiting after 8 weeks. They approved a 95% loan then came back after 6 weeks to say no we need another $15,000. So we got the $ 15K within 2 days and still waiting 2 weeks later. Why the hell is it taking so long???? Our builder should of started 8 weeks ago.
- Verified customer
I can't believe the overall rating people have given here to NAB home loans
I think people don't write reviews when they have positive experiences, hence this page is full of negative reviews, which I have no doubt about as no business is perfect. And when I applied for home loan with Nab and read these reviews I was worried.
But my experience with Nab has been excellent, there were no issues. Whole process was smooth and timely.
Home loan fixed interest rate ended which converted to variable. Paying higher interest at the moment. They're making me jump through hoops to get a new low at a fixed rate. NAB is happy to keep me on a higher interest rate. Need to submit new documents to get on the lower fixed rate. What a joke. Will be taking my business elsewhere with a lower fixed rate.
Customer service does not keep on top of application process. Making me wait months on end to get the loan approved. Very difficult to deal with.
- Verified customer
I wish I hadnt
I have Nab a loan that I applied with through Nab. constantly not in touch with me. Unable to provide details and constantly had me chasing them rather than the other way around. I stupidly was lured with low interest rates but they even sneak in fees they were meant to have waived for me. They are horrible!
- Verified customer
A company that could literally make a strong, grown man cry.
Applied for home loan with this bank on 15th July with a promise to have a decision by 20th July. On 20th July afternoon, the bank said all looking good and loan documents will be with me by end of today. Nothing received, almost lost the house we loved but at the last minute, received an extension.
On Monday, 23rd July, called in the afternoon, spent over an hour and was told that documents will be generated this afternoon. Later on Monday, called again and a sudden shock. NAB advise that mortgage may not be approved and they need to review t...
Most Pathetic, unreliable, unprofessional, time waster I have found NAB home loan specialists
Most Pathetic, unreliable, unprofessional, time waster I have found NAB home loan specialists (Leo) who I was told one of the seniors but I found him not more than a very immature who specialises in nothing but to harm NAB’s already troubled reputation. Took my 4 weeks when I have provided every single document again and again and he end up closing my application without my consent when asked for an update. Shame on you Leo.
- Verified customer
Amazing staff, process and ongoing support Bundall Branch. Carly is amazing
I cant fault the Bundall Branch in any area.
Carly who does the home loans is AMAZING, we were looking to purchase a property and she was recommended by a friend and i can see why.
She got us an amazing deal and is great with communication. We gave her all of the documents, she told us what to expect, even mentioning some great hints & tips things that weren't just home loan related but also property or lifestyle related. We received formal approval and prior to settlement made sure everything was ready to go, again knowing what to expect. ...
- Verified customer
TOOOOOOOOOOO SLOOOOOOOOOOOW Process
Applied for Construction loan by the broker. It took 3 weeks to get a conditional letter and 4 weeks to get an unconditional letter. Despite of providing all documents during submission again asked for the same doc twice.
LACC posted a week ago still didn't receive. All this paperwork could be sent by email to faster the process.
Due to their slow process, my construction price increased 3% up now.
Will re-finance as soon as 2 year period end. Never ever again NAB
NAB had been requesting documents one after the other for every 2-3 days for my recent request for topping up the current loan by $45000. Given the commitment of this would be sort of around $250 monthly extra, they had been questioning each and every part of the application one at a time for the last 3 weeks. If all the documents were requested at a single time it make sense. I had an increase of $2000 dollar take home salary in the last 5 months which is logically sufficient enough to justify a $250 increase in liability. As i cannot be bothe...red providing documents one after the other, i had withdraw my application and planning to refinance my loan with another bank. Terrible service which does not seem to respect existing customer by any means.
beware of NAB overcharging your repayment
I got a home loan renew with NAB in Mar, with interest rate slightly lower than before. And when it comes to my repayment day in Apr, I was surprised to find that they charged a lot more than what I was paying when I had a higher interest rate. Contacted NAB, waited over a month, nothing happened. Filed a complaint, waited another two weeks, and they still couldn’t do the math right! At a lower interest rate, I should be paying a lower installment. It is that simple. The resolution team member seems to be always sick and away when you call thei...r phone. After all the waiting and calls and emails, they finally presented me with a lower installment amount, which, according to them, is like a goodwill thing! This is a kind reminder to anyone who wants to bank with NAB. Please beware of them overcharging you!
Questions & Answers
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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