If you do your banking solely online, and you're prepared to wait up to a few days to receive a redraw, then it's great. However, it does lack that 'personal touch' that local banks/credit unions etc have.
It has no physical branch. The interest rate is high. Operate through a broker. Not helpful with the set up of internet banking as they offered this as one of their services. However, too difficult to access.
Their service has been great for us and that they will contact us if they are able to make changes to our loan if they will benefit us. Also they periodically contact us if we are looking for help with investment options also and have helped us with our progression towards owning our first investment property.
be careful of the interest rate as it is much higher than elsewhere, and they are not very understanding when you have a problem that you wish to discuss with them. Overall I believe that with a little homework that there are better people do deal with.
I have had nothing but troubles with this mortgage company. I have requested numerous times for things to happen and they just seem to get lost in the black bank hole. I fill out forms they go missing. Its all too difficult and doesn't work out
Very difficult to deal with via phone - no other way to contact them as they are in a different state. Communications very difficult do to language problems with their staff. We got out of their clutches recently - life is much more pleasant for us.
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. 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.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
Want more? Compare all 514 home loans in the Mozo comparison engine.Compare more home loans
Mozo gives you the inside story on the best banking, energy and insurance products as rated by thousands of real customers around Australia. We don't make subjective judgments, nor do advertisers influence our ratings. Although our reviews may be moderated to improve quality standards, they are moderated independently of any of Mozo’s commercial relationships.