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Suncorp Home Loans

Suncorp Home Loans

1.5 from 46 reviews

They use a low teaser rate and increase it by 0.20% after a few months

Got my home loan with Suncorp at 3.69% and 3 months later they increased it to 3.8% and 3 months later again to 3.9%. Moved to UBank where my current rate is 3.59%. The advertised rate in Suncorp continues to be 3.69%. You’re better off going strait o UBank as the 3.59 does not change and to finish your loan with Suncorp you’ll face refinancing costs of at least 350+189=$539 plus wasted time and a period with the higher rate of 3.9%

Customer Service
Application Process
Loan TypeVariable Rate

Failed in basic lending process

I am already a customer with Suncorp, I have applied for extending loan to add grannyflat. The application was pre-approve and I was asked/insisted to get signed contract. The contract from builder is prepared only after planning and design phase, which costs me 7k. Once Planning and design was done and contract was produced they said the existing home doesn't have enough value to extend loan. That is a failure! failure in very basic process. This is after 3 week long wait in processing pre-approved application, because the lady who did the pre-approval [name removed] is on leave, the whole application was waiting for her to come back. That made me think how many people are working in lending dept (just one?).

Shame, Westpac evaluated the house with 85k more than what was valuated by suncorp and westpac was happy to process the loan in 5 business days.

I would say, lack of experience, an insurance company turning into back is a disaster.

Awful!! Zero star

Husband completed online secured loan application on 6 october with pre-approval... we then called suncorp on 9 october as we hadnt heard from them, on the phone for over an hour 'completing the application' even though this was already done.
They didnt believe our income/savings so we had to run around and complete their checklist, pay slips, payg summaries and bank statements which were all emailed to them.
Called again a few days later as we still hadnt heard from them and were told that they didnt receive any of our paperwork so all was emailed through again. Its now been 3 weeks and still we havent heard a peep out of suncorp! They clearly dont want our money which is quite substantial. Even if we are ever approved from suncorp there is no way in hell we will be going ahead with this loan! We will take our business elsewhere which will also include a mortgage in 6 months time so you lost out twice suncorp! Terrible service, terrible bank!

Terrible service and care factor is 0

The lack of service and care factor at the loan dept is unbelievable. I have now been waiting for more than 9 days since my application was approved. No one communicates to me or cares. The waiting times every day this week that I have called have been more than 30 minutes and when you get through every one say they will call back which they don’t. General response is that I have to wait for 3-5 business days as they are understaffed and busier than normal apparently. If I got the finance from the dealer then it would have been 2 days. What a joke!


I am pretty sure i am atleast on an above average pay. Suncorp declined my pre-approval saying i have another personal loan so not good enough to borrow. The big 4 were more than happy to lend me around 500K mark with the same data. Atleast they should have had the courtesy to say Suncorp cannot lend the loan. Not any other bank. Would never go here anyway for a loan. Plus your interest rates were also higher compared to other bigger banks.

Bad at keeping in touch

I'm really annoyed at Suncorp. We have our finance due in two days. They evaluated the house over a week ago and put it in the process to get our mortgage approved. Only today did they decide to tell us that the contract we put in for a 3 bedroom, 1 bathroom, double lock up and electrical garage with 700 square meters of land was not worth 260,000 (not including our deposit), even though other houses in the area are selling for more than 300, 000 and don't have a downstairs living area and are in the same condition. Did I mention that only minor things showed up in the building and pest report?? I don't care if they don't want to approve the house. But taking a whole week to tell us it didn't meet evaluation after it had moved past that process has really screwed us over.

Worst Experience Ever

Similar views to all the other poor people who have experienced terrible customer service. We have had such a terrible and stressful experience too. Multiple delays, no communication, promise of deadlines which they failed to meet...and so on and so on. Basically my 31yr old partner had one grey hair from the date of contract, by the time we settled he had turned fully grey. Wouldn’t wish the stress on anyone. For my first home it’s been a shocking experience.

Worse bank ever!

Loan increase for construction was approved 2 weeks ago.
Still no bloody sign of paperwork to sign in the mail.
Disgraceful bank!!! so damn slow
Not to mention the amount of head we had to get the loan approval.
Go elsewhere people! not worth your time!

home loan experience

We got a loan for our build with no hassles. We found Louise very good to deal with and the communication was excellent ( wish I could say the same for the builder). We went with them because of their rate and the local branch manager was very good ( branch closed a few months later). Since then our rate seems to go up when ever they feel like. No longer are we getting 3.68% but it has gone up to 3.91% even though the advertised rate for new clients is 3.68%. Watch this! When we were with ING it usually fluctuated with the reserve bank changes. Thinking about changing the loan to another bank.

1 comment
My accountant suggested I see a mortgage broker to get a better rate. So I rang Suncorp first see what they could do. The current advertised rate for a back to basics home loan is 3.76%. My rate for this loan is now 4.08%. I rang them to see if I could get a better rate and all they could give me was 3.97% ( I have a low LVR). I have only had my loan for about 2 years. It still amazes me that they are allowed to advertise one rate and then change it as they see fit. I guess I'm going to have to head to the broker.


A simple straight forward process developed into a huge disaster by Suncorp, please think very carefully before considering Suncorp. We waited a few weeks for Suncorp to get back to us, regarding our consolidated 2 property loan, a very small borrow of $300,000 with plenty of equity in the 2 properties, so we had there Suncorp mobile finance manager, call and see us at home and take all the relevant, confidential information as required, photo's of license, personal banking details, credit card details, and much more, we found him to be professional, friendly, exactly on time, for the 2 meetings we had with him over 4 weeks. So after another 2 plus weeks my wife, asked me to give Suncorp a call to see our there going with our application, and I was informed he no longer works for Suncorp, and had left over 2 weeks ago, I asked where was our application and personal papers, only to be informed she did not know but would get back to me some other time, because she was busy and was going to a meeting. We are on the Gold Coast, so I immediately directed my concern to there Brisbane office, and was assisted by one of there senior sales managers, he was helpful, and eventually got back to us with the bad news, our application personal papers etc, had never been processed, obviously just left in a folder as he walked out the door never to return. The Brisbane sales manager referred us to a young lady at one of there smaller branches, near Broadbeach and it just got worse, she proceeded to tell us, he was hopeless and she had to constantly fix his mistakes, none of which we experienced during his meetings with us, she then said you don't realise how much trouble this has caused us, meaning her and Suncorp and began ranting about how no one in her office ever give her all her messages, we felt very sorry for her. But hey what about our problem, her response, you will have to provide more recent payslips, and we are not proceeding until you fill out a form 23 and open an account, yes we understand you, but in our papers we did sign an account form and provide all the i.d's etc as requested, you have all those details in our folder, don't you ? i'm not sure she said, and what is a form 23 ? she responded, I don't know but you will have to fill one out, I started to think, why do I feel like we must actually owe her money, her attitude was disgraceful. So her update was, he just dumped all his work at his desk nothing processed, she said that's what they usually do, just dump everything and walk out, hmmmm sounds like more than one person has done this. I think we should feel like victims in this sad situation, but somehow I think she would have preferred us to just disappear. We have since been informed that all our papers may not be intact, and she has confirmed copies of Driver license were not there. What a disgrace.

1 comment
I would also like it noted my Wife spoke to this young lady who is a sales manager at there Q/store's branch near Broadbeach and she was most officia's and said she thought it was only for the one property until my wife corrected her and said no it's for two properties and then her tone changed and she said that's a different matter then, and proceeded to complain that her branch staff never provide her with all her phone messages, and correct information, perhap's we should feel sorry for her. Actually, my wife and I had never discussed previously any of our confidential details with her, and hope that her inaction was not based on a misunderstanding that it was for only one property with a small mortgage, hence only a small bonus - commission, so why bother, hardly worth the effort, no surely not.

outstandingly satisfied 1st mortgage owner

5 years into my mortgage and i asked for and received help, support and (yes, from a bank!) Understanding. I still have a great rate!

Dodgy service

We recently applied for the refinancing with this bank. But, our application has been declined.
They said I have too many credit enquiries. So, I've checked my credit file. My last credit enquiry was made in July 2017. So, I have only one enquiry for last 6 months. I found many people have been declined for same reason.
I don't understand how they assessed. I believe their assessing system is dodgy. Don't try this bank or you will have another credit enquiry unnecessarily.

Complete 'ZERO', for any type of customer service.

Applied for a refinancing with Suncorp in mid October, 2017. Needed to borrow less than 50% of the total value of our home/property. Good income from both of us. Could not complete the refinancing within the 2017 year. In my opinion Suncorp lack the resources to provide great customer service which is truly expected in this financial landscape. My opinion is supported by the shear lack of any communication between the two parties. There 'Oracle' platform has been put on hold. (Read ITNEWS dated 8/8/17) It is clear why the rate currently offered is the only real interest for potential customers. Ask yourself, when you try to contact their call centres and have to wait 20 minutes for someone to pick up, are you really that brave that you wouldn't bite your lip until it bleeds. When you see the loan manager walking the streets looking for another job and the vacancy for the job listed, you begin to realise that the staff must also be feed up to their eyeballs. Do yourself a favour, everything that glitters is not gold !!!!!!!!


Took out home loan. They did 3 pre approvals and kept changing their minds. Never told us we would need to fund deposit rather than use equity on our existing house and nearly lost out on land purchase. Lost documents a couple of times. Month late at paying builder although draw down document was sent twice to head loan office and branch. They give good rates at beginning then bump it up higher than other banks and when you call them to discuss no suncorp staff member knows how their bank system works. Had to call them an hour ago because they said we were in arrears even though we were in advance with our mortgage online Turns out that before builder finished construction, they decided to fix our construction loan a few months ago not advising us and without our approval. Because someone in suncorp fixed it, they were unable to take extra payments out and were charging us an arrears fee. It has been worst year ever due to suncorp staff. My hubby nearly took nervous breakdown over the unskilled staff. As soon as we can we are refinancing.

Poor Treatment of Existing customers

Existing customers are treated worst than new customers the offer of 3.68% variable interest rate on the website is only applicable for new customers. When speak to a member from the lending team she never gave a credible reason and refused to provide anything further and disconnected the call. It's a shame customers with good credit history are treated this way. I've had consistently bad customer service experience all the time and they are failing the shareholders. When you raise a complaint. The complaint process wastes more time and money for both the customer and the bank with back forward communications - when you can just adjust the rate to the same and be done with it. This is the second complaint with the same thing so I will just send the same responses from 12 months ago.

You've gotta be kidding

Having recently graduated from Uni and now being gainfully employed as a clinical psychologist I submitted a Home Loan application to Suncorp,.I had a 10% deposit but this wasn't deemed to be enough for them.My credit was also clean. After waiting 27 days for a decision I was declined. This morning I got approved by CUA 4 hours later. In my opinion Suncorp are a joke and I wouldn't go near them again. Unprofessional and pathetic and biased against professional young women. SHAME on you. If I could rate with a Zero star I would.

Slow service

My experience is that everything just seems to take so long and I fail to comprehend as to what this is.


Suncorp agreed to accept my application beating other bank interest rate but during process of finalizing couldn't n give the quality of service. I wasted 12days waiting for a reply from them. Suncorp doesn't have enough resouces to serve customers.
It crap bank

Crappest bank ever

Do not use this bank. 3-4 days stated on their website to receive an ETP to withdraw money to another bank account. Receive an email that then states 5-7 days to receive it, it is now 10 days and we still have not received my wife's. Mine arrived on the seventh day and cannot be used due to some crap online reason.

no-one will attempt to assist you, emails are ansered only after 2-3 days, their customer service is none existent, they shouldn't even be allowed to call it customer service, it should be customer dodging.

We have only been with them for a couple of months with our home loan and we are looking elsewhere.

The only reason I am giving a rating of 1, is because I have to give something, there should be a '0'.

Worst experience

Worst experience ever. I had arranged pre-approval six months prior to settlement and purchased a property based on this pre-approval. One week out from settlement they advised that they had made an error when processing my pre-approval and that I needed to find another 30k or find another bank.

They then advised that the loan couldn't be finalised prior to settlement.

Cannot believe that they would treat anyone this way, let alone their own staff! I will never use them again!

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Questions & Answers

My husband seems to think if one or the other of us passes away before our home loan is payed out, that the loan is payed out by the bank. I believe this was the case many years ago with a bank that we dealt with. Could you please verify this.
No answers

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