While other banks and the world is putting rates down, YBR has been putting them up
Misleading information all the way. I felt like as soon as I signed up, they increased my interest rate and then they increased them again and again. When I called and complained I was told bad luck, it would cost me more in cancelation fees to move to another mortgage so haha. It is shocking customer service from this company
Fought & presented a great submission for our outside the box loan.
Went to 2 major banks to settle our first home & was declined due to the property condition & circumstances not fitting their appetite. Visited YBR Dulwich Hill & the principal there, guided us to the right lender & fought hard to get it approved. Can’t thank him enough for our first home
I was a customer with YBR for over three years. Home loan rate isn’t competitive and customer service is shocking! They sound nice over the phone but always fail to follow up even though they promise to call back. My broker sucks as well. Please choose YBR with caution if you want a home loan there. See ya forever!
On the 19th Feb 2019 we contacted YBR for a home loan, it’s now April and nothing!! Our first experience was the loan officer not appearing for our first meeting and no phone call either. Next experience after the meeting 2 weeks went by and no communication until we sent a persistent request. After promises were made more than 2 weeks later nothing! A complaint went into head office. Was called the next day with “The officer in question will call you tonight”! No how can we fix this, no apology, just a blatant attempt to protect their own reputation rather than soothing a clients concerns. Seriously disappointed at such a lack of professionalism by all involved by YBR.
No recommendation from me
I went back to see them after 6 years to see about my loan Was told they would call next day Never heard back I recalled a few days later and left a message and guess what did not get a return call I also asked to see their financial planner This person was going to call me too and you guessed it no phone call
Will not recommend them
Investment loan increased before settlement
I had two properties secured with YBR and in less than 12 months interest rate increased above the bid bank rates. I sold one property and I’m now refinancing the second and settlement has been delayed four times. This is the first and last time I’ll be using YBR.
Perfect service Hard working representative Meena Bebawy
Meena Bebawy at Stafford fought so hard for me better rate now than ever so appreciative of his efforts single mum new job
If he is what your company is about then it’s a rare commodity when the customer is cared for congratulations to a company who is smart enough to have this kind of representation
We approached YBR at the conclusion of a business when we were in search of a broker to assist us in reorganising our finances for our new chapter. Our initial meeting impressed us and we came away with confidence that we would be able to transition our finances relatively easily. This confidence was very short lived. This first meeting was the beginning of a loan settlement that would take us through 15 stressful weeks. Paperwork was continually misplaced and we were constantly asked to provide the same paperwork over and over again. The turni...ng point in our negotiations with the broker was when we were presented with an income and life insurance package that totalled $10000/year to maintain. When we told the broker that we would not be able to sustain such an annual payment we were told that the broker had taken the liberty of adding the first years premiums to our loan amount!!!! When we told the broker that we would not be able to fund it in the second year we were informed that we would have to have the policy for at least 2 years or she would lose her commission!!! Talk about feeling pressure. We decided that we would not take the insurance policy on as is was far in excess of what we could afford. At this point the broker lost all interest in us. The establishment of the loan had been going along quite well until this point. All of a sudden we were on a go slow. We finally approached head office with our concerns and, after 15 weeks of to and fro with repeated requests for paperwork we finally got the new mortgage funded. Unfortunately the Head Managers were condescending in their dealings with us. They listened to our original concerns but then very quickly supported their branch manager despite the fact that we were still being pressured to take the insurance package. After the settlement of our mortgage the broker had the audacity to contact us personally to inform us that she was very disappointed in us for taking the matter out of her hands and going to head office. We found this phone call extremely unprofessional an quite intimidating. We reported the call to head office and told them that under no circumstances was she to ever contact us again. Earlier this year when we wished to refinance for the purpose of renovations we contacted Head Office to find out who we should be dealing with as we no longer wished to deal with our original broker. They told us that they would have someone contact us. Low and behold our original broker made contact with us - despite our instruction to the contrary. We have now moved right away from YBR and the Pepper Mortgage that we were set up with and are very happily back with one of the major banks. People might criticise the majors but our experience with dealing with this bank since moving away from YBR and Pepper has been prompt and professional - 2 words we cannot use in regard to our experience with YBR.
5 weeks and then declined
The amount of hoops we jumped through and paper work we had to provide was an issue but 5 weeks from first contact to get the ball rolling in regards the home loan and then get told the loan has been declined all because the new job i am going to has probationary peroid even though its a full time position. If you can make sense of that please let me know.
- Verified customer
Great communication & got us a result that others couldn't!
We wanted a home loan for our first house that other brokers said wouldn't be possible, but the team in Sunbury really delivered and went to bat for us. We found a house when we weren'y really looking so had to move fast and they were incredibly responsive & helpful. We ended up with a lower interest rate, pre-approval just in the nick of time in order to make an offer (which was accepted!) and good communication along the way. We had another broker help us with a previous property who wasn't half as good. Wouldn't hesitate to recommend Vincent and Warren from he Sunbury Yellow Brick Road team to help you secure your home.
Terribly poor service. Rang up for advice about investing my big super amount with YBR super but the response was not helpful and keen. Requested for more info. but did not receive any at all and no reply up to date since one year ago. Have since change my super to a more helpful industry super fund. Will never recommend anyone to YBR wealth. YBR management could be spending millions of dollars on ad but has ignored the basic customer service and staff branch are not keen or really interested in getting or growing their business due to lack of patience. Very disappointing as a YBR shareholders. Has now withdrawn all investments in YBR share portfolio. Abosulety disappointing as a shareholder.
Wish we never got a loan through them
We got a home loan through yellow brick road 14 months ago. We were on 8.8% interest rate as my husband had a few defaults on his account from when he was 18. Yellow brick road told us in 6 months if we haven't missed a re payment our interest rate would be dropped to a decent percent. 6 months went by and when we asked to drop our rate they informed us to try again in another 6 months, so we did. After 12 months of making every repayment they told us they are happy to drop our rate to 8.7% (less then $10 a week difference). When we asked why t...hey won't drop it a decent amount they informed us "because we lose our commission". It's now been 14 months since we got our loan and we wish we had never gone through them. We both are working parents and should deserve a better rate then this, just because we made a mistake over 10 years ago with a credit card we shouldn't be punished for the rest of our lives. I am horrified with my experience with yellow brick road and wouldn't recommend their service to anyone.
Don't waste your time
Called YBR back in Jan-Feb this year requesting to speak to one of their financial planners. Got put through to my local office being Ballarat and spoke to Paul. First thing he asked was why I want financial planning, my response being we wish to buy a house and want to get on the right track. He then asked if we had a deposit which at that time we did not have the amount required. All he was interested in was trying to sell me on a mortgage if I could get my parents to co sign. Wouldn't listen to me at all and then promised to email me through...some information on how much we would need to save to get said mortgage. Never received any email. Definitely will not be contacting them again now that we have our deposit. Will be going with someone that actually listened to what we wanted the first time!
I TOOK THE CHALLENGE
I did not think it was possible to meet some one in the financial sector who cared and worked so hard to save her clients as much as she saved us, $350 per month extra in our pockets, with a no nonsense easy to understand and even easier to change home loan, from RAMS to YBR in a couple of easy steps all the work done by FIONA NADAYA @ the St Marys Branch.
Contacted YBR about their Rate Smasher Home Loan. I have less than 33% LVR and YBR sent out a broker. Tried to sell me a loan from Westpak which would have left me worse off in the end compared to what I have now from another bank. Stay away - great advertising but I could not get what they advertised even though I believe I met all criteria.
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Questions & Answers
is this a Correct Statement ?
- YBR does not appear on the listof ADI's compiled by APRA?
- Therefore YBR is not covered by the Australian government deposit guarantee
Which means if the company became insolvent you would lose your capital.
YBR Y.Yellow Brick Road Home Loan
Hi Karlos, you're correct in asserting that YBR is not an Authorised Deposit Taking Institution (ADI). We are a network of brokers that facilitate loans through third party ADIs – in simple terms. That means that your capital with an ADI is always secure with that ADI. Lyndsey
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