loans.com.au home loan reviews

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Recent loans.com.au home loan reviews

• They are underhanded and shady, stay away.

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  12. (Reviewed 3 days ago)

  These guys are the same mob behind Ratebusters (i.e. first mac), they suckers you in with their initially attractive rate and then DO NOT pass on subsequent rate cuts so you end up paying quite a lot more than the advertised rate afterward, but by...       Full review 

  These guys are the same mob behind Ratebusters (i.e. first mac), they suckers you in with their initially attractive rate and then DO NOT pass on subsequent rate cuts so you end up paying quite a lot more than the advertised rate afterward, but by the time you realise this it is too late. The initially attractive rate advertised is for new customers and it wouldn't last long. They are also not upfront with all the fees and once you sign up with them you will find out about other fees that they will apply. Their completion process was a shamble in my experience and it took ages to complete. In general I would say they are underhanded and shady and I certainly wouldn't take another loan with them.

  
  

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  loans.com.au home loan reviewed by Ash from Tasmania 2013-05-17T00:45:08+10:00

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• Fabulous, you'd be crazy not to!!

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  12. (Reviewed 3 days ago)

  OMG why wouldn't you? Easy to deal with, and best rate on the market. If you don't give them a try you are either lazy or mad.       Full review 

  OMG why wouldn't you? Easy to deal with, and best rate on the market. If you don't give them a try you are either lazy or mad.

  
  

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  loans.com.au home loan reviewed by Paul from Queensland 2013-05-16T23:56:30+10:00

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• Excellent customer service and interest rate

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  12. (Reviewed 27 days ago)

  The loan process was very straightforward. Their communication was great. I was always able to call and speak to someone immediately. Email communication was fast too. I was very happy with the whole loan process. I was impressed that they were of...       Full review 

  The loan process was very straightforward. Their communication was great. I was always able to call and speak to someone immediately. Email communication was fast too. I was very happy with the whole loan process. I was impressed that they were offering one of the best interest rates I could find as well as excellent customer service. I would recommend loans.com.au to others seeking a home loan.

  
  

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  loans.com.au home loan reviewed by Andrea from Victoria 2013-04-23T04:31:23+10:00

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• Good rates and great customer service

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  12. (Reviewed 27 days ago)

  Loans.com.au is an efficient way to get a home loan; best rates on the market thanks to their low cost centralised model; very convenient to deal with them over the phone and email.       Full review 

  Loans.com.au is an efficient way to get a home loan; best rates on the market thanks to their low cost centralised model; very convenient to deal with them over the phone and email.

  
  

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  loans.com.au home loan reviewed by Marcel from New South Wales 2013-04-23T01:19:48+10:00

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• Worst Ever

  11. Overall customer rating
  12. (Reviewed 3 months ago)

  This is the worst mortgage lender that I have had experience with over the last 17 years; this with have 3 mortgage and dealing with various institutions in this time. I had This is the worst mortgage lender that I have had experience with over t...       Full review 

  This is the worst mortgage lender that I have had experience with over the last 17 years; this with have 3 mortgage and dealing with various institutions in this time. I had This is the worst mortgage lender that I have had experience with over the last 17 years; this with have 3 mortgage and dealing with various institutions in this time. I had explained to Loans.com.au to ask for whatever they needed two months prior to have to go away and study. I had asked that this all be sorted and that things were okay prior to paying their $250 for a property valuation fee. I discovered firstly that they were sloppy in their communication even when dealing with 2 separate people, one of them a manager. I was playing constant phone tag trying to get things moving. This all especially near the end, the end in that I had to drop them after 3 months of wasted time and money. Having provided 2 tax returns, as per stipulations, they then wanted a 3rd tax return and Bas Statements etc. This all while now being in another state and not having access to hard copies etc. Yes this company in the end cost me so much money in lost interest and property value fee etc and so much aggravation. Yes the manager gave the company line, while underneath you could on a number of occasions see that what really lurked was a cesspool. Never, ever again, stay away.

  
  

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  loans.com.au home loan reviewed by Drago from New South Wales 2013-02-20T03:53:42+11:00

  9 people found this review helpful – do you?

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• Great customer service and home loan rate

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  12. (Reviewed 4 months ago)

  Pros - great customer service; always responded to emails and phone calls; always called back when they said they would; very competitive product pricing compared to other home loan products Con - any variation or change to structure of home lo...       Full review 

  Pros - great customer service; always responded to emails and phone calls; always called back when they said they would; very competitive product pricing compared to other home loan products Con - any variation or change to structure of home loan you incur a fee I like this product because it was the most competitive interest rate

  
  

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  loans.com.au home loan reviewed by Ondine from New South Wales 2013-01-16T00:11:23+11:00

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• Not a transparent company to deal with.

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  12. (Reviewed 4 months ago)

  I withdrew my application from 'Loans.com.au' about half-way through the process. Alarm bells started ringing when: (1) the terms and conditions on the applications form were hard to read (7.5-point, single paragraph with 14 main conditions); ...       Full review 

  I withdrew my application from 'Loans.com.au' about half-way through the process. Alarm bells started ringing when: (1) the terms and conditions on the applications form were hard to read (7.5-point, single paragraph with 14 main conditions); (2) the ABN and company's name quoted in the T&C didn't match the ABN register's details; (3) after my property was valued, they wanted my credit card's CVV number so they could charge the valuation fee, but they didn't state how much was to be charged. If the application and approval processes are so shonky, I can imagine the response down the track, as a mortgagor trying to sort a really technical or legal issue with this company! No thanks.

  
  

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  loans.com.au home loan reviewed by Michael from South Australia 2013-01-09T05:21:03+11:00

  11 people found this review helpful – do you?

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• Great rate with full transaction offset account

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  12. (Reviewed 5 months ago)

  We refinanced our home loan a bit over a year ago to an RBA-linked variable rate loan with loans.com.au. The RBA tracking of the interest rate was a major appeal given they were at the time a relatively unknown lender (at least to me); it provide...       Full review 

  We refinanced our home loan a bit over a year ago to an RBA-linked variable rate loan with loans.com.au. The RBA tracking of the interest rate was a major appeal given they were at the time a relatively unknown lender (at least to me); it provided confidence that they weren't simply offering low headline rates to sign up customers. Excellent, full-transaction offset account. No face-to-face contact during sign-up process, and no branch network, but everything went relatively smoothly with the refinancing. Only criticism is that it wasn't apparent from the information on the website at the time that we would have to pay for the property valuation as part of the application process, but given the overall savings, it was a minor cost.

  
  

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  loans.com.au home loan reviewed by Michael from Western Australia 2012-12-18T16:36:31+11:00

  6 people found this review helpful – do you?

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• 11. Overall customer rating
  12. (Reviewed over 1 year ago)

  Great pricing and features that beat the big-4 in every respect. The service feels personalised and my contact was incredibly responsive to every question I had along the way. They were even flexible in the underwriting department when it turned o...       Full review 

  Great pricing and features that beat the big-4 in every respect. The service feels personalised and my contact was incredibly responsive to every question I had along the way. They were even flexible in the underwriting department when it turned out that my loan was slightly "non-complying." This is a mostly 'online' model which suited me very well as I am too busy during the day to go out to a branch - instead I was just an e-mail away for everything except signing the original documents - and even this was easy in that they accepted a scanned PDF ahead of when the originals arrived.

  
  

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  loans.com.au home loan reviewed by Alastair from New South Wales 2011-11-14T12:49:27+11:00

  17 people found this review helpful – do you?

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• 11. Overall customer rating
  12. (Reviewed over 1 year ago)

  I came across these guys via MOZO, thanks MOZO as I would have ended up with a bank paying 1% more for the same product. I'm now a MOZO fan ;) I have seen a couple of reviews here about delays. Well my experience was the exact opposite. I was able...       Full review 

  I came across these guys via MOZO, thanks MOZO as I would have ended up with a bank paying 1% more for the same product. I'm now a MOZO fan ;) I have seen a couple of reviews here about delays. Well my experience was the exact opposite. I was able to have my loan settled 1 1/2 weeks after I sent my application in. Ok I had myself organized, had all the paperwork ready to go, etc as I had lodged an application with my existing bank. Cath and Dean at loans.com.au were fantastic, they organized everything quickly and communicated well throughout. So 10 out of 10 for service and the rates are unbeatable.

  
  

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  loans.com.au home loan reviewed by Ben from Queensland 2011-09-28T12:13:41+10:00

  26 people found this review helpful – do you?

  Yes

• 11. Overall customer rating
  12. (Reviewed over 1 year ago)

  Shoking Lender. One time they say you can borrow up to $360,000 and next minute $230,000. Credit team is hopeless and Customer Service is also same. Due to low rate they get business but service and approval process is absolutely shocking. Receive...       Full review 

  Shoking Lender. One time they say you can borrow up to $360,000 and next minute $230,000. Credit team is hopeless and Customer Service is also same. Due to low rate they get business but service and approval process is absolutely shocking. Received approval in 45 Days. It is saying you give peanuts you get Monkey. Also what you pay ( interest rate) you get that service. If you are investor do not worry about interest rate. Unreal people.

  
  

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  loans.com.au home loan reviewed by Unlucky customer of first mac from Victoria 2011-09-26T09:56:50+10:00

  25 people found this review helpful – do you?

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  Reply from loans.com.au

• "Unlucky customer of FirstMac from Victoria"
  
  I'm sorry to hear that you have experienced some problems and I'd like to provide you with assistance to resolve any issues and to get your feedback on how we can improve. Please contact me on 13 10 90.
  
  Kind regards,
  Angus Roxburgh,
  Head of loans.com.au.

• 11. Overall customer rating
  12. (Reviewed almost 2 years ago)

  New guys in the market so a few yearning problems but get what the are trying to do. Applied over the phone and they are very helpful and friendly. Product is excellent as has everything, 100% offset, redraw and matches reserve bank rate for first...       Full review 

  New guys in the market so a few yearning problems but get what the are trying to do. Applied over the phone and they are very helpful and friendly. Product is excellent as has everything, 100% offset, redraw and matches reserve bank rate for first 5 years so no nasty surprises unlike my nasty 'former' bank whi lifted rates more than the reserve bank the last few rate rises. Although a new brand, owned by a mob called firstmac who have apparently been a wholesale lender for something like 30 years. Haven't heard of them before but did a little research and they are australian owned and sound very credible. Rates are awesome so have given them a go and applied for a loan. Someone mentioned in a review that they are no frills, I read their product info and far from the case. ATM and a visa debit as well, all included with the home loan! No kitchen sink though, but almost.

  
  

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  loans.com.au home loan reviewed by Eric from New South Wales 2011-05-30T09:55:43+10:00

  46 people found this review helpful – do you?

  Yes