Highly unorganised to the point I questioned my broker if they knew what they were doing. In the end, they offered me a loan then withdrew it after I signed the papers. Be very careful with these people.
It was a fast, easy and friendly experience.
Got my broker to assist with the process. Fairly easy to use the online system. Had a few delays about the settlement dates which could have been caused by my previous provider. In general, I am happy with the current interest rate. Contacted customer service twice and had no issues with them.
Firstmac not only provided a much lower interest rate, but since changing over to them they have been a dream to work with. Secure, user-friendly internet banking and mobile app. Superb customer service on the very few times I have had to ring them. Great rate, excellent products and wonderful customer service. Great to be able to acknowledge a wonderfully positive product.
Had an issue with a stolen card, they could not even cancel my card. Then accused me of not calling and asking for it to be stopped! So while I have no access to the system, no card, no money, I call to see where my replacement card is. They said, "oh you didn't ask for a new card." Customer service person - very very rude. Not to mention a previous matter. I had to go online to dispute a transaction and it took them three weeks to get back to me. Come on! Now I can gladly say I have refinanced since that call.
Customer service is very poor. Their rate and review performance is extremely poor. You will be misguided about the finance provider (Firstmac and loans.com.au). Even if you contacted loans.com.au, you will be redirected to Firstmac. After that, you will not be eligible for any future better offer by loans.com.au
When I moved my two loans to Firstmac back to in November 2019, I was told that both Firstmac and loans.com.au are same (in fact, I contacted loans.com.au first and then redirected to Firstmac - I have those email communications). Now, I was offered an interest rate of $1.99% by loans.com.au. When I informed Firstmac about this offer, I was told that I am not eligible for this rate since Firstmac and loans.com.au are different (completely opposite compared to what I was told in the last year). I am eligible to this rate only if I move my other loans (say, from NAB) to loans.com.au and, in that case, Firstmac will be the finance provider. However, my present two Firstmac home loans are not eligible to get the lower interest rate offered by loans.com.au.
They offered a decent enough intro though found quickly enough that the rest of their features and service is severely lacking. Internet banking a very very long way behind other banks. Asked for a review on our loan interest rate and it took them almost a week to get back to us. And don’t worry about visiting a branch.
Cheap rate but the worst service. You get what you pay for. I thought supporting a smaller business would be the right thing but they are a joke. Small mindset staff by a small team. Incompotent.
The process to apply for a Firstmac loan was agonising and time consuming. We used Lendi to apply and experienced poor communication, changing requirements/documentation requirements. From first contact it took 4 weeks to obtain pre-approval and now they request further information, not even mentioned during the original request e.g. they now want a retirement strategy in case we still have a loan when we retire, our assets to debt ratio is 5 to 1 and investment income is more than required to pay the loan. The delays and stress are not worth it.
Good bank, easy to deal with, good rates. No branches or ATMs.
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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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