Peter Cubrilo in Perth responded to and managed an application through the 2020 Christmas period effortlessly. Fast professional response times and great handling of every aspect of the application made the entire process a pleasure.
They are the biggest bank in Australia so there is the convenience but also in saying that the customer care factor is very low and they don't keep you up to date with new products.
CommBank has variety of home loan products to suit various need. They update all latest information including interest rates and fees as soon as they become available. Customer services are also excellent either by face to face or online or telephone. Overall it is a good provider of home loans.
It was an easy application process and the mobile app and its features make it easy to manage my loan, adjust repayments and change between interest only and principle and interest. I feel the interest rate is slightly higher than some other banks.
Over the phone wait times have doubled. Banks in my area have closed only resulting in half the amount of branches now. The branches that are open have halved their size in areas that have doubled in population. Wait times in branches are absolutely pathetic.
I have been with CommBank over 9 years. They're just there to make money as they are not looking after their costumers. If I were in a position to refinance I would have gone to different banks.
I’ve been with Commonwealth for over 30 years. The process of trying to discharge my mortgage has been awful. I have a variable mortgage that I was advised would take 10 business days to process but has so far taken over a month, despite Commonwealth having all necessary documentation, and it still hasn’t occurred yet. After approximately five hours on hold over four separate calls, I was advised on separate occasions it would take 10 days, then 17 days, then 21 days, and today (34 days after I submitted all documents) they still have not arranged a settlement date. Commonwealth’s conduct in deliberately delaying discharges so that customers are subject to their higher interest rates is misleading and deceptive. Commonwealth’s practice of understaffing its loan discharge team so exiting customers are left for hours on hold shows incredibly poor corporate responsibility.
I like that it is well and truly established and nice staff. I dislike how they seem to want to charge the highest interest rate they can and make it difficult to change.
At CBA they over charged my home loan account while I was in Covid deferred time then the account was put into arrears by mistake. Then on top of that they do this random sweep for accounts that are in arrears so they took double payment in the month of February, three days apart and was not my fault. I was contacted by more than 8 different staff members about my arrears amount and none of them new the issue or read the previous persons notes on their system. Altogether they wasted 5 hours of my time on the phone. Only last week they finally sorted arrears amount and I’m still waiting on the second random sweep amount to be sorted out. They don’t contact you with a return number it’s always a private number and they won’t email so it’s hard to return any of their calls. I have never been in arrears or missed payments and during a tough Covid time with financial burdens this problem has not helped but rather left my family and I extremely stressed and worried. Only the last customer service girl seemed to know how to make sense of the issues, one out of 8 or more other untrained staff members. Sorry to be harsh but I’m being honest and hope others don’t suffer like I have.
Easy to deal with, but have to haggle about interesr rates, or else you wont be told.
Admittedly I use a broker to find me the best lender who will accept my application with my associates circumstances. On paper, my scenario is nothing short of messy. But CBA took me on, and when the opportunity arose to go variable with some crazy-low interest rates, it was a visit-free process with only a signature or two via email. Couldn’t be happier now that I’m kicking personal goals on my great big fat mortgage!
They understand how mining pay system works such as “ rostered overtime “. Other banks don’t recognise this is a regular part of an income for coal miners as much as the regular 40 hour week
This bank does nothing for their customers, they have one thing in mind - make money from their customers. They immediately increase their loan interest rate when the reserve bank rate increases but delay and give a pitiful interest decrease or none at all when the reserve bank rate decreases. NO INCENTIVE TO STAY WITH THIS BANK. I would like to refinance but unfortunately I am of retiring age shortly and would find it hard to transfer my loan, despite being a very valuable customer with a good credit rating.
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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.
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