Terrible customer service. Let down after let down. Worst experience I've ever had with any company over the phone, absolutely useless.
I got this loan through a trusted 3rd party broker and the local NAB branch don't want anything to do with me. When I go into the local branch for a query they just refer me to their loans help line. The 3rd party broker was much more helpful.
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.
Please don’t make the same mistake we did. Unfortunately we called Aussie Homeloans and I spoke with a very nice seeming broker, everything I said seemed like no problem. That’s what he said from the start, looks good and not a problem. He said all our documents looked great! He seemed very confident at every step of the way. When our application was held up for weeks because Aussie Homeloans was updating their software he assured me it was all fine. Weeks passed and I became more and more nervous, every time I got in touch I was assured things were being expedited, they were advancing, they were in the final stages. The day before our finance needed to be unconditional I received a text message to say it had been declined. I asked what did we do now? Could I get more money? Could I pay off my car? The broker said there was nothing we could do, Aussie Homeloans had decided they didn’t believe we could service a loan, any loan. I tried to speak to someone at the lenders office and they simply connected me back to the broker where no questions were answered. No one cared. With 24 hours left I contacted a proper mortgage broker and he went over everything with me, explained where we went wrong and I can’t believe we wasted so much time with Aussie. We are in the incredible position of privilege that my mum and dad have been able to buy our house while we work with a broker to secure our finance for down the track. Please don’t put your own future at risk, take heed and see a professional. After I contacted the conveyancer to tell them they said it’s unfortunately a common problem with Aussie and the agent had far more colourful things to say about them. Live and learn!
My daughter is buying a home and I agreed to be guarantor for 20% of the loan, my daughter ticks all the boxes for eligibility. After initial contact with Westpac home loans officer (which was positive) the loans person seemed to disappear, they would not take calls or return messages. My daughter then went to a mortgage broker, I thought the bank loans person’s attitude was a “one off” and as a customer of Westpac for 40 years suggested she still use Westpac. Fast forward 2 months after the loan application by her mortgage broker to Westpac and the bank tells me it will still be 2 to 3 weeks till the loan is finalised and $2,500 for a valuation on my house as collateral. A processing period of 3 months! Mortgage broker now admits they use Westpac as a last resort for home loans because of their inefficiencies. I have made 2 complaints and with a 3rd in the pipeline nothing has changed, they don’t seem to care. The original intention was for “preapproval” for a home loan now with a deposit on a house it has become post approval!
After jumping through hoops, finally got home loan, signed our contracts for a repayment amount we could afford only to receive a lettet before our first payment was due from a company telling us they were taking over our mortgage, our inew interest rate was double and our payments doubled from what thought were originally told we were paying, husband had to work 6 days week just to pay payments lucky i worked to pay everything else. They crippled us with ever increasing rates. Wouldn't recommend them to my worst enemy.
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.
When I first approached the bank via phone it was on the off chance that they "might" be able to help me as at the time they were a new bank so I thought worth a try, nothing to lose. Surprisingly, they listened to my story. I'm a square peg that doesn't fit in a round hole and they refinanced my home loan. They are only a phone call away if I need anything. I get a great deal on all my insurances and if I ever need to make a physical deposit, it's as close as the Post Office. I would recommend them to anyone, especially if you don't conform to the requirement of the other banks. At least with RACQ you are treated as an individual.
Stay well away from Pepper! They are useless, inept and downright self invested company who just look for new clients and leave you after you’ve signed on.. Once they have you they don’t care to look after you when it comes to refinancing. Not only do they not advertise their home loan rates for any type of transparency and waste your valuable time but when I came to extending my loan they ignore my requests for two weeks because i was paying more and it was in Peppers interest NOT to help me extend my loan. I would never deal with the again and if I could warn all potential customers to stay away to avoid what I’m having to deal with.
Only interested in you when you start out if you want to reduce you loans the fees come thick and fast. Dont reply to complaints and have poor customer service when they have your loan in place.
Move Bank came from Railways Credit Union which was a mutual credit union. The culture of service remains even after they made the change. Most of the contact is by phone or internet but there is very little that they can't and/or won't do for you.
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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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