8.0 / 10

based on 682 loans.com.au reviews as rated by Mozo community

loans.com.au home loans

100% Australian owned, loans.com.au opened its doors in 2010 with a vision of “making it easier for people to own and invest in property.” It offers a winning combination of low interest rates and a commitment to excellent customer service, catering to home, investment and personal finance borrowers. loans.com.au has also racked up a number of awards for its range of home loans, most recently in the 2020 Mozo Experts Choice Awards for its investor and low cost home loan options.

What home loans do loans.com.au offer?

Rates and fees verified as correct at 16 April, 2021. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

loans.com.au has two fixed home loans for owner occupier and investors to choose from. Terms range from 2 to 3 years, and you’ll be able to borrow between $50,000 and $1,000,000. The fixed loan offers are also packed with heaps of great features including interest only payments (up to 5 years), a split loan facility and a rate lock feature. Plus you can make extra repayments during the fixed rate period of up to $10,000 p.a. to reduce the term of your loan and total interest paid. What’s more, you won’t need to pay any ongoing service fees.

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments  

3.28% p.a.

2.98% p.a.

$0.00

$520

2.88% p.a.

2.89% p.a.

$0.00

$520

Go to site

1.99% p.a.

2.70% p.a.

$0.00

$520

Go to site

3.48% p.a.

3.12% p.a.

$0.00

$520

3.08% p.a.

3.03% p.a.

$0.00

$520

p.a.

n/a

$0.00

$520

Variable Rate Home Loans

loans.com.au's variable loans allow for extra repayments, unlimited free redraws and a choice of principal and interest or interest only payments for up to 5 years. The Smart Booster and Smart Home Loan options come with the option to access an offset account for an additional 0.10% in interest. This means you can offset the interest owed on your home loan by keeping funds in your offset account and only drawing down when you need to.

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments  

1.99% p.a.variable for 12 months and then 2.48% p.a.

2.47% p.a.

$0.00

$520

Go to site

2.09% p.a.variable for 24 months and then 2.79% p.a.

2.71% p.a.

$0.00

$520

Go to site

2.79% p.a.

2.81% p.a.

$0.00

$520

2.48% p.a.

2.50% p.a.

$0.00

$520

Go to site

2.79% p.a.

2.81% p.a.

$0.00

$520

2.73% p.a.

2.75% p.a.

$0.00

$520

Go to site

1.99% p.a.variable for 12 months and then 2.74% p.a.

2.71% p.a.

$0.00

$520

Go to site

1.99% p.a.variable for 12 months and then 2.74% p.a.

2.71% p.a.

$0.00

$520

Go to site

3.19% p.a.

3.21% p.a.

$0.00

$520

2.99% p.a.

3.01% p.a.

$0.00

$520

Go to site

2.74% p.a.

2.76% p.a.

$0.00

$520

Go to site

2.99% p.a.

3.01% p.a.

$0.00

$520

loans.com.au home loan features in a glance

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100% online

You can apply and manage your loans.com.au home loan from the comfort of your couch. Once your online application is completed, you’ll be assigned your own personal lending manager and support officer to carry you through the whole process until settlement. Easy peasy!

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No application or monthly fees

Say sayonara to any application or ongoing monthly service fees when you choose a fixed or variable rate home loan with loans.com.au.

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Visa debit card

When you apply for loans.com.au’s Offset Variable loan, you’ll be issued with a linked Visa debit card which you can use to access the funds in your offset account on a 24/7 basis and wherever Visa is accepted worldwide.

Free icon

Free redraw

loans.com.au’s variable rate home loans allow for unlimited free redraws to access any additional repayments you’ve made. There is no minimum withdrawal.

How are loans.com.au home loans rated?

Mozo users have rated loans.com.au home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of home-loans
loans.com.au home loans
Overall
8.0/10
Price
Features
Customer service
Convenience
Trust

662 Reviews

Recent loans.com.au home loan reviews

loans.com.au Smart Booster Home Loan review
Overall 10/10
Very competitive rates and quick online process

Very quick online process. Efficient and helpful when communicating with them. Once loan set up, the app is easy to use. Very competitive rates.

Read full review

Very quick online process. Efficient and helpful when communicating with them. Once loan set up, the app is easy to use. Very competitive rates.

Price
10/10
Features
8/10
Customer service
9/10
Convenience
10/10
Trust
9/10
Less
Debbie, Victoria, reviewed about 1 month ago
loans.com.au Home Loan review
Overall 1/10
Worst Retail Customer Experience I've had in Years

No Care, no responsibility approach. I refinanced three investment properties. The web based portal never worked until after settlement for two properties. There is still $1,200 in loans.com fees which I am in dispute over(apparently a settlement fee which is not advertised and verbally told at the start would only be applicable for one property being three properties will settle at once); the person who is collecting information would not listen and often provided incorrect information and requests (which was sorted out by the representative after more telephone calls, but delayed settlment) I submitted a review and it has still not appeared on the website (its been 3 days so far - how many poor reviews exist for them?) The interest rates promoted on the web are lower than what I am paying now (for a variable interest only loan). In summary, Don't chase the lowest rate with these guys; you will be disappointed with the service. And yes, they don't reward existing customers by passing on lower rates.

Read full review

No Care, no responsibility approach. I refinanced three investment properties. The web based portal never worked until after settlement for two properties. There is still $1,200 in loans.com fees which I am in dispute over(apparently a settlement fee which is not advertised and verbally told at the start would only be applicable for one property being three properties will settle at once); the person who is collecting information would not listen and often provided incorrect information and requests (which was sorted out by the representative after more telephone calls, but delayed settlment) I submitted a review and it has still not appeared on the website (its been 3 days so far - how many poor reviews exist for them?) The interest rates promoted on the web are lower than what I am paying now (for a variable interest only loan). In summary, Don't chase the lowest rate with these guys; you will be disappointed with the service. And yes, they don't reward existing customers by passing on lower rates.

Price
9/10
Features
7/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Marty, South Australia, reviewed 3 months ago
loans.com.au Home Loan review
Overall 1/10
Worst Retail Experience - Don't Chase the Low Rate

From start to finish, it has been a nightmare. I refinanced three investment properties and I needed to constantly keep an eye on what was going on - the web based portal never worked until after settlement for two properties, so there was always a string of phone calls which you need to book a time to touch base with your representative; there is still $1,200 in fees which I am in dispute over - no-one has got back to me (apparently a settlement fee which is not advertised and verbally told at the start would only be applicable for one property being three properties will settle at once); the person who is collecting information would not listen and often provided incorrect information and requests (which was sorted out by the representative after more telephone calls, but delayed settlment); I submitted a review and it has still not appeared on the website (its been 3 days so far - how many poor reviews exist for them?) The interest rates promoted on the web are lower than what I am paying now (for a variable interest only loan). In summary, you pay for what you get - don't chase the lowest rate with these guys; you will be disappointed with the service. And yes, they don't reward existing customers by passing on lower rates.

Read full review

From start to finish, it has been a nightmare. I refinanced three investment properties and I needed to constantly keep an eye on what was going on - the web based portal never worked until after settlement for two properties, so there was always a string of phone calls which you need to book a time to touch base with your representative; there is still $1,200 in fees which I am in dispute over - no-one has got back to me (apparently a settlement fee which is not advertised and verbally told at the start would only be applicable for one property being three properties will settle at once); the person who is collecting information would not listen and often provided incorrect information and requests (which was sorted out by the representative after more telephone calls, but delayed settlment); I submitted a review and it has still not appeared on the website (its been 3 days so far - how many poor reviews exist for them?) The interest rates promoted on the web are lower than what I am paying now (for a variable interest only loan). In summary, you pay for what you get - don't chase the lowest rate with these guys; you will be disappointed with the service. And yes, they don't reward existing customers by passing on lower rates.

Price
9/10
Features
7/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Marty, South Australia, reviewed 3 months ago
loans.com.au Smart Booster Home Loan review
Overall 10/10
Terrific.

I love this bank, very easy to talk to, they offer compassion and explain things that ordinary people understand.

Read full review

I love this bank, very easy to talk to, they offer compassion and explain things that ordinary people understand.

Price
8/10
Features
6/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Michelle, Victoria, reviewed 3 months ago
loans.com.au Home Loan review
Overall 1/10
Avoid this lender!

I do not normally write reviews but I have been with loans.com.au for over 5 years and in that time my rate is now about 1% higher than their advertised rate. They do not care about existing customers and their business model is bait and switch. Please beware! I will now be refinancing! Avoid this lender as there are many better online lenders out there.

Read full review

I do not normally write reviews but I have been with loans.com.au for over 5 years and in that time my rate is now about 1% higher than their advertised rate. They do not care about existing customers and their business model is bait and switch. Please beware! I will now be refinancing! Avoid this lender as there are many better online lenders out there.

Price
1/10
Features
4/10
Customer service
2/10
Convenience
2/10
Trust
1/10
Less
Michael, New South Wales, reviewed 3 months ago

What do you need to apply for a loans.com.au home loan?

To apply for a loans.com.au home loan you will need to fill in an online application form. Once completed you’ll be invited to book an appointment with a lending manager to finalise your application.

Here is a checklist of what details you may need handy to successfully complete your application: 

  • Personal details
  • Contact details including valid email address
  • Loan details such as purpose of loan, borrowing amount, estimated property value and intended property usage
  • Income including annual salary before tax, records of other source of income (e.g. rent) etc.
  • Liabilities such as existing loans and credit cards
  • Monthly living expenses (i.e. general, education, childcare and private health cover).

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