Horrific service. Go elsewhere.
Currently going through a loan application with Resimac. Despite us having pre approval with Resimac and a conservative 65 day settlement, Resimac have still been unable to assess our loan application for several weeks' with no explanation as to why and what the hold up is. Consequently we will miss out settlement date and be up for exorbitant penalty interest fees, along with a very real risk of the vendor rescinding and losing our 10% deposit and the purchase when this is no fault of our own. This is causing so much undue stress on our family and I cannot understand why it's taking this long. There is also no escalation process. I strongly recommend that you do not use this lender.
I have had my home and two investment propertie
I have had my home and two investment properties with Resimac for about 2 years. I took advantage of a deal that allowed me to leverage more equity in my home to achieve a better rate. Has been pretty smooth sailing, and the rates I'm on are pretty good as compared to the rest of the market. Not going anywhere any time soon.
After a few weeks of back and forward with documents to the broker we went with Resimac as per his suggestion as their fees were good. However, when it was at the ‘no turning back stage; we were hit with the old risk fee - 1% of loan and also a higher interest rate than competitors. Not sure what the 1% is actually for?
After having issues applying with one of the big banks
After having issues applying with one of the big banks, my broker suggested Resimac for their no-fuss assessment process. She was right - they didn't dripfeed me loads of requests for random documents, and were quick to approve my application. I can recommend them for a no-nonsense approach to assessing your situation, and for offering pretty sharp rates - especially for investment purposes.
Being a business owner
Being a business owner, I wasn't able to take out time from my business schedule to file a home loan application. I needed 21st-century technology, reinforced by human touch. With Resimac, I got what I expected. Their procedure was simple and less time consuming, which bode well with my working hours.
Avoid at all cost, empty promises
Avoid at all cost, paid valuation from my pocket, Resimac promised to deduct $150
Then Deducted &295, they given me conditional offer in 60 day after very tiring process and lots of documents.
Only condition was to provide contract so it can go unconditional.
Contract and all documents provided again
But could not get decision in 2 weeks time.
Got extension for extra 2 weeks.
At last minutes after 28 days, they said I can’t get that amount to buy the property and they can only approve 100k less than the required.
Wondering why they didn’t assessed property at first place and waisted my money and time.
Very unprofessional service, will never recommend.
was looking to access some equity against my home to buy an apartment
I was looking to access some equity against my home to buy an apartment and my broker initially got me to apply through my existing lender. They ended up dragging the application on, askng lots of questions, then did not want to give me the cashout I had asked for. My broker then spoke to a few different lenders and recommended we reapply through Resimac. They took less than a week to give us indicative approval, and soon after that formally approved the loan and the cashout.
It possible to buy my dream home.
I want to thank them for providing me the best home loan plan, at quiet low-interest rates. Your great loan features and exclusive customer benefits, has made it possible to buy my dream home.
Watch the fee's.
Watch the fee's and charges, way above others and they save the best to the end. Haven't had a loan for several years but now want to charge in excess of $533 administration discharge fee to close the account????
Terrible customer service
I made a phone enquiry about adjusting our two loans. They sent an email reply three weeks later. I just replied to that email. The response was "Thank you for contacting us. This is an automated response to confirm we have received your email. We will respond to your request within 12 business days."
I jumped on the phone. I have been on hold for 72 minutes and counting. The hold music ominously disappeared after 61 and a half minutes.
As long as you know the customer service is beyond terrible, they're OK.
Great advice and guidance helped me
Thanks, guys for making things feasible for us. Your great advice and guidance helped me to get a bank loan at quiet low-interest rates. I am also grateful to your adviser who suggested to me how to maintain a good credit score.
Simply rate rip off
Avoid Resimic at all cost. They can still charge 4% under the current COVID 19 situation and only pass on a fraction of the RBA rate cut and increase your rate out of the RBA cycle. Only apply if you are comfortable with those furious excuse like we are not a bank, RBA has nothing to do with our pricing etc.
I wish I could give Resimac a ZERO rating
This lender treats its customers like fools. I contacted them and asked them why it took 4 weeks to pass on the RBA rate cuts to their customers. I got an email back saying they have such a large customer base that it takes 4 weeks for them to make the changes. So I sent them back a letter I have received from Resimac in 2017 where they put the rate up two days before they advised their customers. The letter received from Resimac was dated 1st May 2017, advising they had increased my rate on 28th April 2018. With technology happened as quickly as it is, very soon there will be an alternative to banks and customers will leave in droves. Customers hate banks
A great lender
Having been with ANZ for almost 10 years, I was disappointed when I realised how high my interest rate was compared to what they were offering new clients. My broker recommended Resimac, who were offering great rates. As I had spare equity against my home, I was able to use this to refinance my investment lending over at home loan rates (instead of investment loan rates).
The application process with Resimac was smooth, with my broker handling the bulk of it. All in all, a painless experience and I've now been with Resimac for more than 6 months. I was also very pleased to see how quickly they adjusted their rates after the RBA cuts.
Best lender on the market!
I've been a mortgage broker for over 7 years and refinanced my own home loan across to Resimac Prime more than 2 years ago.
In all of my years of broking, I have yet to find a lender as good to work with as Resimac:
- They maintain some of the most competitive variable rates on the market (they passed on the last RBA rate cut in full to existing customers, within hours of it being announced),
- They maintain a quick & simple application and assessment process (they can usually provide conditional approvals within the same week as an applicat...
Questions & Answers
how long resimac takes to approve the loan? i had 10 days cooling off period. they couldnot make it and my solicitor extended it from 10 days to 13 days. now i have only one day left. what should i do now? please someone suggest me... thanks
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