loans.com.au home loan reviews

loans.com.au

How are loans.com.au home loans rated by the Mozo community?

73%

Overall Mozo Community rating: 7.3 out of 10

loans.com.au home loans

Overall rating: 7.3 (119 reviews)*

Last reviewed: 22 February 2015


  1. Overall customer rating
  1. Price
  1. Features
  1. Customer service
  1. Convenience
  1. Trust

* based on reviews in the past 12 months

Reviews: 590

Thumbs up: 543 | Thumbs down: 47

Aus cheapest home loan People's Choice
Winner 2014

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

Featured home loan from loans.com.au

  • Dream Home Loan Essentials
  • rate

    4.23%

  • comparison rate*

    4.25%

  • Go to site
     

Compare all loans.com.au home loans

Write a review

Recent loans.com.au home loan reviews

Sort reviews by: date | helpful vote | thumbs up | thumbs down
  • Very excellent

    1. Overall customer rating
    2. (Reviewed 1 day ago)

    I made my application after reading the many reviews about this company. I was a bit reserved but once my application was approved and within days I received the loan agreement. Which was also very fast and with such a low rate I hope to pay off m...  Full review 

    I made my application after reading the many reviews about this company. I was a bit reserved but once my application was approved and within days I received the loan agreement. Which was also very fast and with such a low rate I hope to pay off my home loan within years and the concentrate on my retirement. I would surely recommend loans.com.au to my many friends and workmates. I am now only waiting for the settlement which I feel should be within days.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Sujendra from New South Wales

    Was this review helpful? Yes flag

  • Superior customer service to other online lenders

    1. Overall customer rating
    2. (Reviewed 9 days ago)

    This is the second online bank I've refinanced my home loan with and the entire process was smooth, efficient, prompt and thorough. Having one dedicated contact person to liaise with, right through to settlement, made the experience that much bett...  Full review 

    This is the second online bank I've refinanced my home loan with and the entire process was smooth, efficient, prompt and thorough. Having one dedicated contact person to liaise with, right through to settlement, made the experience that much better. I'm a fussy customer and this lender met all my expectations.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Leanne from South Australia

    Was this review helpful? Yes flag

  • Very competitive interest rates.

    1. Overall customer rating
    2. (Reviewed 18 days ago)

    From the very outset they were very easy to deal with, though as they are online, communications with them can be difficult. We had issues we had with the initial paperwork that took some time to correct and it became a little stressful. As they a...  Full review 

    From the very outset they were very easy to deal with, though as they are online, communications with them can be difficult. We had issues we had with the initial paperwork that took some time to correct and it became a little stressful. As they are strictly on line, it would be nice to have face to face communications sometimes, but the interest rate on our home loan more than makes up for this.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Isabelle from Western Australia

    2 people found this review helpful – do you? Yes flag

  • Go somewhere else

    1. Overall customer rating
    2. (Reviewed about 1 month ago)

    Non existent contact or customer service. Delays and false information given about time frames. Topped off by a random email from them 2 weeks after making the application asking me who my lender was?? Don't touch them if you don't want to lose y...  Full review 

    Non existent contact or customer service. Delays and false information given about time frames. Topped off by a random email from them 2 weeks after making the application asking me who my lender was?? Don't touch them if you don't want to lose your sale.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Wilbur from New South Wales

    2 people found this review helpful – do you? Yes flag

    Reply from loans.com.au
  • Hi Wilbur, we are disappointed to hear that this was your experience after your application process, and thank you for bringing this to our attention. If you would like to speak to one of our team to work through the issue, please email us at customercare@loans.com.au with your application number. Regards, loans.com.au

  • Lowest rates, no visiting bank

    1. Overall customer rating
    2. (Reviewed about 2 months ago)

    Love the low fees and interest rates of this online only home loan. Super easy online application and then real life follow up by phone- dealt with the same person all the way through the process. Debit card attached to offset account to redraw...  Full review 

    Love the low fees and interest rates of this online only home loan. Super easy online application and then real life follow up by phone- dealt with the same person all the way through the process. Debit card attached to offset account to redraw additional payments easily. Only drawback with debit card is no ATM/branch to change PIN.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Clare from Victoria

    Was this review helpful? Yes flag

  • Terrible, avoid!!

    1. Overall customer rating
    2. (Reviewed 3 months ago)

    Theses guys are terrible. Pre-approval means nothing. They delay the approval process, refuse to call back, change the goal posts. They are a complete waste of time. DO NOT get a loan from them. DO NOT apply, they will waste your time!  Full review 

    Theses guys are terrible. Pre-approval means nothing. They delay the approval process, refuse to call back, change the goal posts. They are a complete waste of time. DO NOT get a loan from them. DO NOT apply, they will waste your time!


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Ben from South Australia

    4 people found this review helpful – do you? Yes flag

    Reply from loans.com.au
  • Hi Ben.

    Thank you for your feedback. We're sorry to hear that your approval process was not to your satisfaction. We prioritise making sure that our customers are always satisfied with our product, and so we would appreciate being able to talk to you further about your experience. If you're interested in sharing your opinion, please contact us at customercare@loans.com.au.

  • Extremely one sided loan agreement clauses

    1. Overall customer rating
    2. (Reviewed 3 months ago)

    After 4 weeks working with loans.com.au to refinance our house mortgage we decided not to go ahead with the loan agreement since a couple of the clauses in the loan agreement were extremely one sided. We discussed our concerns with loans.com an...  Full review 

    After 4 weeks working with loans.com.au to refinance our house mortgage we decided not to go ahead with the loan agreement since a couple of the clauses in the loan agreement were extremely one sided. We discussed our concerns with loans.com and they said that those clauses would only enforced under very extreme circumstances. All these made sense to us, however they just wanted us to trust what they told us over the phone and were not ready to amend the loan agreement so it matched what the words on the phone said. Very unprofessional, plus they treated us as if we could not read a simple loan agreement. I wished I had done my due diligence better before we paid the $220 dollars for the house valuation. I guess you get what you pay for and not everybody spends an hour reading a loan agreement before they sign it.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Emilio urruchi

    4 people found this review helpful – do you? Yes flag

    Reply from loans.com.au
  • Hi Emilio,

    We're disappointed to hear this was your experience with our loan agreement. We prioritise being up-front and transparent regarding our clauses and encourage our customers to research and understand the product that they're taking part in. With that in mind, we would appreciate talking to you about ways we could improve this service. If you're interested in sharing your thoughts, please contact us at customercare@loans.com.au.

    Regards,
    loans.com.au.

  • Save on interest

    1. Overall customer rating
    2. (Reviewed 3 months ago)

    Best rates with full feature home loan. Do yourself a favour and don't pay attention to the negative reviews. If you are looking for a top deal this is the one!  Full review 

    Best rates with full feature home loan. Do yourself a favour and don't pay attention to the negative reviews. If you are looking for a top deal this is the one!


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Harry from Victoria

    1 person found this review helpful – do you? Yes flag

    Reply from loans.com.au
  • Hi Harry,

    Thanks for letting us know that you're enjoying our services. At loans.com.au, we are happy when our customers are happy. Best of luck with your new loan, and if there's more we can help you with, please let us know.

    Kind regards,
    loans.com.au

  • The cheapest

    1. Overall customer rating
    2. (Reviewed 3 months ago)

    The cheapest rate around and all the features other than a physical branch.  Full review 

    The cheapest rate around and all the features other than a physical branch.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Richard from New South Wales

    2 people found this review helpful – do you? Yes flag

    Reply from loans.com.au
  • Hi Richard.

    Thanks for the great feedback! We're glad to have been able to help you with your home loan. Please let us know if there's anything else we can do for you,

    Regards,
    loans.com.au

  • Walk away!

    1. Overall customer rating
    2. (Reviewed 3 months ago)

    It's frustrating when it takes over 3 weeks to be able to exchange contracts and you lose the property to another buyer as they take so long to get into action. We were told we were good to go although they didn't have all the info they needed for...  Full review 

    It's frustrating when it takes over 3 weeks to be able to exchange contracts and you lose the property to another buyer as they take so long to get into action. We were told we were good to go although they didn't have all the info they needed for a credit check and constantly having to upload the same stuff over and over- The most frustrating thing is contacting the people you need to talk to in the organisation. You have to email them through a loan tracker or leave a voicemail and it can take a whole day to get back to you or they just don't all together. When the real estate market is hot and moves fast the last thing you want is for them to be putting their system under maintenance on a Friday and Saturday when you are most likely going to be needing assistance. Good luck trying to speak to anyone once your application is in progress. Having gone to a new lender they identified several things of concern with the loan that loans.com were providing us so I recommend shopping around. Good customer service is a must when you are spending so much money and you have so many questions and concerns to be answered.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Jessi

    7 people found this review helpful – do you? Yes flag

  • Outstanding in every way

    1. Overall customer rating
    2. (Reviewed 4 months ago)

    As a first home lender, I found loans.com.au an outstanding firm to deal with. Great communication, always easy to get on the phone, proactive in calling me to follow up items, timely settlement...simply a stress free process. It made my first exp...  Full review 

    As a first home lender, I found loans.com.au an outstanding firm to deal with. Great communication, always easy to get on the phone, proactive in calling me to follow up items, timely settlement...simply a stress free process. It made my first experience smooth and easy - I was dreading a horrible drawn out process. Even requested settlement to be bought forward -was no trouble. 10/10 in all aspects !


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Jeremy from Queensland

    1 person found this review helpful – do you? Yes flag

  • Outstanding product and service

    1. Overall customer rating
    2. (Reviewed 4 months ago)

    Everything right from eligibility to settlement, customer service was top notch.  Full review 

    Everything right from eligibility to settlement, customer service was top notch.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Bimal

    1 person found this review helpful – do you? Yes flag

  • Great rate, dishonest company

    1. Overall customer rating
    2. (Reviewed 4 months ago)

    Avoid loans.com.au like the plague. I spoke to them re: refinance of home loan. 200k loan, property value 950k plus. Total cost was to be $220 for valuation-$300 to pay old loan. Offset account for free and no other fees, so I applied as they h...  Full review 

    Avoid loans.com.au like the plague. I spoke to them re: refinance of home loan. 200k loan, property value 950k plus. Total cost was to be $220 for valuation-$300 to pay old loan. Offset account for free and no other fees, so I applied as they had a great rate. Two months later I have finally received my contract. They fail to communicate, even after twice daily phone calls. My 220 valuation was charged , then it was another 220 because we were 10k plus from town centre, then another 110 because we were rural- this despite them asking this previously . Once I paid the first amount, nothing could happen until I paid the second and then third. I always had to ring to find out what was going on. Valuation came back as less than another property two blocks away, without house or power, which was sold 1 month ago within 1km. We have a 5 bedroom, 3 bathroom house with commercial kitchen and theatre room lounge, separate dining, 8 x 10 family room and additional full size snooker room and gym- 9 x 8m. Plus two new sheds that cost 60k+ 18 months ago and an additional 4 bedroom house on our property. Contract now says that in addition to the 300 fee to pay out old loan, there will be additional fees of 400+ to register mortgage. It also lists early and additional payment fees among heaps of others and they can change or add any and all charges when they like without consultation or advice in advance. I have lost the 550 already paid but will not accept an open ended agreement from a company who cannot call you except to get more fees. I am concerned with how everybody blames their co workers and adds another charge every time Their rates are cheap but the charges and poor service is not worth it. Be warned.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Fred from New South Wales

    31 people found this review helpful – do you? Yes flag

  • Terrible Customer Service

    1. Overall customer rating
    2. (Reviewed 5 months ago)

    Don't ever go with Loans.com.au. Why?? 1. Inexperienced staff 2. Incompetent, very junior staff (low wages) 3. Not transparent to the customer 4. Delays in settlement cost us $$$ 5. Continually moving the Goal Posts regarding supply of inform...  Full review 

    Don't ever go with Loans.com.au. Why?? 1. Inexperienced staff 2. Incompetent, very junior staff (low wages) 3. Not transparent to the customer 4. Delays in settlement cost us $$$ 5. Continually moving the Goal Posts regarding supply of information required to settle. 6. Stupid SMSs in the beginning saying we have "Pre-Approval" 7. Worst customer experience in the business world. 8. Don't or won't listen to their customers. 9. Poor communication skills. Go elsewhere. Save yourself the heartache. These people are rank amateurs!


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Peter from Queensland

    8 people found this review helpful – do you? Yes flag

  • Competitive features & great customer service

    1. Overall customer rating
    2. (Reviewed 5 months ago)

    Thanks to loans.com.au - the lending manager I spoke to over the phone took time to introduce the background of loans.com.au to me. I received sms messages as well as the Loans officer calling me to inform me the progress of my application. I har...  Full review 

    Thanks to loans.com.au - the lending manager I spoke to over the phone took time to introduce the background of loans.com.au to me. I received sms messages as well as the Loans officer calling me to inform me the progress of my application. I hardly had to wait over the phone - usually my call will be answered soon without a long wait. The online features are great and easy to use. I recommend loans.com.au to anyone who's looking for a good deal and patience with completing the refinance paperwork (stack of forms with a few which required JP signature and then posting back to loans.com.au).


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Wmy from Queensland

    1 person found this review helpful – do you? Yes flag

  • Hopeless

    1. Overall customer rating
    2. (Reviewed 5 months ago)

    Settled today, took over 2 months of agony to get the documents right, unbelievable! What have I done? No service at all, hopeless, you send emails and get no reply. I am now waiting '48 hours' to find out about the details of my new offset acc...  Full review 

    Settled today, took over 2 months of agony to get the documents right, unbelievable! What have I done? No service at all, hopeless, you send emails and get no reply. I am now waiting '48 hours' to find out about the details of my new offset account, access on the net etc. Really disconcerting. Don't touch these people with a barge pole, it's not worth the drama.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Murray from New South Wales

    7 people found this review helpful – do you? Yes flag

  • Great customer service

    1. Overall customer rating
    2. (Reviewed 5 months ago)

    Excellent service, excellent product. Had one contact person who I dealt with from day one to settlement. Would recommend to anyone.  Full review 

    Excellent service, excellent product. Had one contact person who I dealt with from day one to settlement. Would recommend to anyone.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by . from South Australia

    Was this review helpful? Yes flag

  • A joke

    1. Overall customer rating
    2. (Reviewed 7 months ago)

    Terrible ! I've had to follow up on 11 phone calls and emails that were promised "later in the day". Beware of loans managers. They have a laugh at your expense and create delays throughout the entire process. Do not trust. They will gladly tak...  Full review 

    Terrible ! I've had to follow up on 11 phone calls and emails that were promised "later in the day". Beware of loans managers. They have a laugh at your expense and create delays throughout the entire process. Do not trust. They will gladly take your evaluation fee and disallow your loan having said that no evident problems exist with your application. Unprofessional, unreliable. They have to be cheap because they have nothing else going for them.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Shannon from New South Wales

    7 people found this review helpful – do you? Yes flag

  • Absolutely dreadful customer service

    1. Overall customer rating
    2. (Reviewed 8 months ago)

    Absolutely dreadful customer service. They don't acknowledge receipt of paperwork. Took 7 weeks from lodgement of application to settlement. Didn't bother to contact customer if there was an issue. Needed to constantly chase them every step of the...  Full review 

    Absolutely dreadful customer service. They don't acknowledge receipt of paperwork. Took 7 weeks from lodgement of application to settlement. Didn't bother to contact customer if there was an issue. Needed to constantly chase them every step of the way to get anything happening.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Tania

    3 people found this review helpful – do you? Yes flag

  • Cheated

    1. Overall customer rating
    2. (Reviewed 8 months ago)

    They cheated me by charging a $250 valuation fee without approving the loan application! Beware all!  Full review 

    They cheated me by charging a $250 valuation fee without approving the loan application! Beware all!


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Satish

    3 people found this review helpful – do you? Yes flag

  • Cheated

    1. Overall customer rating
    2. (Reviewed 8 months ago)

    Help! How do I get the $220 Valuation fee back?! I was cheated by loans.com.au.  Full review 

    Help! How do I get the $220 Valuation fee back?! I was cheated by loans.com.au.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Kevin from New South Wales

    7 people found this review helpful – do you? Yes flag

  • No drama, cheap rate

    1. Overall customer rating
    2. (Reviewed 8 months ago)

    This was my first property purchase, the loan process was very straight forward and efficient. I was well informed during each step. We settled 1 day earlier then expected (took 4 weeks). I had a dedicated sales representative who managed my appli...  Full review 

    This was my first property purchase, the loan process was very straight forward and efficient. I was well informed during each step. We settled 1 day earlier then expected (took 4 weeks). I had a dedicated sales representative who managed my application so I didn't have to explain my situation each time on the phone. I think it helps speed the process along if you have all your documents together and respond quickly. I couldn't find a cheaper variable rate. And the loan has an offset facility. I would recommend loans.com.au For reference my LVR was 75%.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Elly

    Was this review helpful? Yes flag

  • Great product vs competitors

    1. Overall customer rating
    2. (Reviewed 8 months ago)

    As a new customer, I was welcomed and experienced fast and prompt service. Occasional miscommunication between departments also occurred. Looking forward to a great partnership.  Full review 

    As a new customer, I was welcomed and experienced fast and prompt service. Occasional miscommunication between departments also occurred. Looking forward to a great partnership.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Craig from New South Wales

    Was this review helpful? Yes flag

  • Great rate

    1. Overall customer rating
    2. (Reviewed 8 months ago)

    Service is very good and great rate but need to allow 4 weeks to settle.  Full review 

    Service is very good and great rate but need to allow 4 weeks to settle.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Charlie from New South Wales

    1 person found this review helpful – do you? Yes flag

  • Unbeatable rate

    1. Overall customer rating
    2. (Reviewed 8 months ago)

    Likes -unbeatable rate -unlimited and free property reports -offset and redraw facility -possible to switch between interest only or principal + interest at any time without fees -pretty helpful Dislikes - online broker only and so can on...  Full review 

    Likes -unbeatable rate -unlimited and free property reports -offset and redraw facility -possible to switch between interest only or principal + interest at any time without fees -pretty helpful Dislikes - online broker only and so can only contact them via email or phone. They were pretty responsive though. - some of the documents required witnessing but that could be done by a conveyancer


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    loans.com.au home loan reviewed by Calvin from New South Wales

    Was this review helpful? Yes flag

What type of home loan are you looking for?

Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.