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Homestar Home loan reviews

Overall rating
5.8/10
Price
7.1/10
Features
6.1/10
Customer service
6.0/10
Convenience
5.4/10
Trust
5.6/10
Based on 30 reviews as rated by the Mozo community.

Featured home loan from Homestar

Star Gold Home Loan

interest rate
1.79% p.a. variable
comparison rate
1.84% p.a.

Promoted

Recent Homestar home loan reviews

Sort reviews by: date | star rating
  • Homestar Star Essentials Home Loan (Owner Occupier, Principal & Interest) review

    Overall rating   3 / 10
    Financial stable clean credit record: Disappointed

    I was in process of refinancing, spoke to Justin, the loan specialist. I supplied the balance of my loan with the extra I paid in as savings and tried to arrange to keep my savings, so I requested a 5 min call, which he didn't respond to. Then I sent an email with a suggestion that I withdraw my savings and reapply with the actual balance. He didn't respond to me at all. I have a clean credit record and no debt at all besides the mortgage. I am a full time employee with ample money to service the loan. This is the work ethic and level of care that you will encounter. Very disappointed with Homestar.

    Price
    4 / 10
    Features
    3 / 10
    Customer service
    3 / 10
    Convenience
    4 / 10
    Trust
    3 / 10
    Less
    Nicolas, Queensland, reviewed 3 months ago
  • Homestar Home Loan review

    Overall rating   1 / 10
    Avoid Homestar Finance - terrible customer service

    Homestar Finance is the worst financier I have ever dealt with and it appears their staff are incompetent and untruthful in their dealings. Firstly, it took nearly a week just to find someone to talk to about seeking pre-approval for a loan. After speaking to a number of offshore staff who continually took all of my personal details then lost them, I complained and spoke to a manager based in Australia who assured me Homestar Finance could provide preapproval for a loan prior to an auction I wished to bid on. I submitted all paperwork immediately and answered all follow up questions. Not only was I provided with no outcome prior to the auction, but my mortgage specialist did not even have the decency to contact me prior to advise there would be no outcome. On the day before the auction, which was a Saturday, I spoke to a manager who advised she would try her best to get an outcome for me by that day but in any event would call me back. I never heard back from her. Fast forward to over 4 weeks later and I still do not have preapproval. I have been assured by the mortgage specialist on multiple occasions that I would have an outcome within 2 to 3 days then I hear nothing and when I call and email I am given no explanation as to why I have not received an outcome and given further timeframes that are not adhered to. It is an absolute joke and I will now be going elsewhere. I caution anyone who values their own time not to waste it with this sorry excuse for a financier.

    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Sarah, Queensland, reviewed 3 months ago
  • Homestar Home Loan review

    Overall rating   1 / 10
    Slow and incompetent.

    Slow approval process, was told 2 days but I haven't heard back after two weeks despite multiple follow up by email, phone. Just promise after promise.

    Price
    1 / 10
    Features
    1 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Less
    Markinyik, Victoria, reviewed 3 months ago
  • Homestar Home Loan review

    Overall rating   8 / 10
    Great online Lender! Good rates

    I have been with Homestar about 2 years now and have found them to have a competative rate who pass on most of the RBA cuts. There online banking is a bit basic but gets the job done. I would recommend them to anyone who needs a great rate!

    Price
    8 / 10
    Features
    6 / 10
    Customer service
    6 / 10
    Convenience
    7 / 10
    Trust
    8 / 10
    Less
    Michael, New South Wales, reviewed 3 months ago
  • Homestar Star Classic Home Loan (Principal & Interest) review

    Overall rating   3 / 10
    After you join they creep your rate up. Avoid

    I've only been a customer for 18 months but already my rate is higher than the one they offer new customers. Its no introductory offer its just once you sign up your individual variable rate is put up above what they offer. I've contacted the bank but no response. Regretful decision changing to the them.

    Price
    7 / 10
    Features
    9 / 10
    Customer service
    2 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Shane, Queensland, reviewed 6 months ago
  • Homestar Star Classic Home Loan (Principal & Interest) review

    Overall rating   1 / 10
    Rude and incompetent customer service.

    I applied for a home loan through Homestar based on their reviews on customer service. I had nothing but the worst customer service experience. I was called dyslexic and asked to have my "boyfriend" pay part of the settlement figures even though my loan would cover it. I applied for a loan for a land and home build. I required an extension on financing as Homestar informed me that a loan for a build would take longer. An extension was granted based on how long Homestar told me they needed. I called three days before financing was due to ensure everything was on track. I was told it was. Come the day of financing, I was told they needed one more day as my expenses were over by $80 per month. This was despite the fact I had pre-approval based on the expenses (-$80 a month) and had since had a $2500 a year pay rise. I was also told that the evaluation was delayed as they wrote the wrong address. There was never an apology. I asked for an extension and it was refused. All my hard work to get this home was gone. Luckily the builder managed to get the land seller to change their mind. The day before settlement, the amount for settlement came through and Homestar were going to contribute a lot less than what I expected. I had paid 5% to the builder but they did not take this into account. When I asked them to explain the amount they were paying towards settling the land I was told "I can't believe you would ask me that question, you should know the terms of your loan" and "there's no way you will settle tomorrow if you make changes". The change was very easy and straightforward in the end. I hope that I can eventually be proven wrong and they can improve their customer service. I would hate for anyone else to be spoken to and treated the way I was. I am not usually one to complain but I have had no luck solving this with Homestar.

    Price
    5 / 10
    Features
    4 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Samantha, Queensland, reviewed 7 months ago
  • Homestar Star Classic Home Loan (Principal & Interest) review

    Overall rating   1 / 10
    Disappointed at Homestar finance support.

    Homestar finance is not as competitive as it used to be. I wish they would treat their existing customers as new ones.

    Price
    4 / 10
    Features
    1 / 10
    Customer service
    1 / 10
    Trust
    1 / 10
    Less
    Kyan, Victoria, reviewed 8 months ago
  • Homestar review

    Overall rating   10 / 10
    Best bang for your hard earned dollar.

    Did my research, Homestar are the cheapest loan provider. Made the admin process as easy as possible. I never write a review but when I am this impressed with the overall benefit to me and bang for my buck, I think people should know!

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Robert, New South Wales, reviewed over 1 year ago
  • Homestar review

    Overall rating   8 / 10
    Lowest mortgage rates - and can negotiate lower!

    Homestar is fantastic for low rates. I have never seen better. The only downside is that being a non-bank lender, and perhaps to maintain their cheap rates, their internet banking interface is very basic, and there is no app. This took a bit to get used to, but that's a small adjustment for a great value product.

    Price
    10 / 10
    Features
    7 / 10
    Customer service
    7 / 10
    Convenience
    5 / 10
    Trust
    7 / 10
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    Rebecca, Western Australia, reviewed over 1 year ago
  • Homestar review

    Overall rating   10 / 10
    Low rate and excellent service

    I was referred to by a friend who refinanced her loan with Homestar. I didn’t know too much about them but I experienced excellent service from their Sales specialist who walked me through the application process without the hard sell. They answered all the questions I had and were able to assist with explaining any concerns I had since this was my first purchase. Their current internet banking is a bit outdated, but I was told that it would be updated in the next few months, which is something important to me because I like to see where my finances are at anytime. Lastly, I’m happy with my rate and the fact that they passed on the recent RBA cut was music to my ears. Thanks for your support Homestar and I hope this level of service continues!

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    9 / 10
    Convenience
    7 / 10
    Trust
    10 / 10
    Less
    Kimberley, New South Wales, reviewed over 1 year ago
  • Homestar review

    Overall rating   8 / 10
    Competitive rates and responsive customer service

    Here are the pros for Homestar. They have one of the most competitive interest rates going around and have been passing on the full RBA cut, usually announced on the same day, which is very impressive. Their friendly, helpful, and responsive loan manager assisted us through the sign up process with no issues. Call centre staff were polite and helpful when I called up after settlement for assistance Here are the cons for Homestar. Their website is very basic, lacks essential features such as updating your contact details which you need to call up to do. It made it difficult chasing up a missing letter which went to an incorrect address. The website is also slow when clicking buttons, there often is a considerable wait before the next page shows up. Their is no mobile app available which really should be a given I would recommend Homestar to friends and family as the rates are competitive and they are aggressive in maintaining their low rates by passing on all the RBA rate cuts in full which is impressive, no fluffing around. I do find the website extremely frustrating as it is slow and lacks basic features. Even though they provide you with a debit card, I would not consider using Homestar as my day to day banking with the website in its current state.

    Price
    10 / 10
    Features
    6 / 10
    Customer service
    8 / 10
    Convenience
    6 / 10
    Trust
    8 / 10
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    Basil, New South Wales, reviewed over 1 year ago
  • Homestar review

    Overall rating   6 / 10
    Competitive loans, process too long, good staff

    I switched from ING to Homestar in 2012. I've topped up home loans, then sold my house and re-applied for a new loan with Homestar in that time. The front line staff are really very good: personable, one-on-one service and you're dealing with people not 'the machine'. This side of their business is an asset. However, their processes have taken several weeks at times – one re-finance was seven weeks from start to finish –and this obviously plays against them. My last application was a little speedier but the process for submitting paperwork was very sketchy and I often needed to send it 2 or 3 times. However: the bottom line is their pricing when it comes to interest rates is pretty competitive: we have a low fixed rate, and a variable split (which is good right now) that we can fix if need be.

    Price
    6 / 10
    Features
    5 / 10
    Customer service
    4 / 10
    Convenience
    4 / 10
    Trust
    8 / 10
    Less
    Jonathan, Victoria, reviewed over 5 years ago
  • Homestar Home Loan review

    Overall rating   1 / 10
    Terrible customer service

    Terrible customer service. Treated their customers like criminals. They don't seem to want or work hard to get your business. They believe you need them and not the other way. Would not recommend or go near these people

    Price
    9 / 10
    Features
    6 / 10
    Customer service
    0 / 10
    Convenience
    4 / 10
    Trust
    0 / 10
    Less
    Odgen, New South Wales, reviewed over 5 years ago
  • Homestar Home Loan review

    Overall rating   0 / 10
    Very Bad Customer Service

    FALSE and MISLEADING mortgage rates on the Advantage home loan. The rate on their website is not what existing customers will be paying. BE CAUTIOUS PEOPLE !!

    Price
    0 / 10
    Features
    5 / 10
    Customer service
    0 / 10
    Convenience
    5 / 10
    Trust
    0 / 10
    Less
    John, Victoria, reviewed almost 9 years ago
  • Homestar review

    Overall rating   3 / 10
    Con merchants

    Their advertised rate is just to suck you in. My actual rate is 0.5% higher. The real rate is always higher. They are dishonest lenders. Go elsewhere!

    Price
    5 / 10
    Features
    7 / 10
    Customer service
    5 / 10
    Convenience
    5 / 10
    Trust
    3 / 10
    Less
    Bruce, Queensland, reviewed almost 9 years ago
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    Home loan comparisons on Mozo - rates updated daily

    • Smart Booster Home Loan

      interest rate
      1.99% p.a.variable for 12 months and then 2.48% p.a. variable
      comparison rate
      2.47% p.a.

      Promoted
    • UHomeLoan

      interest rate
      1.75% p.a.
      fixed 3 years
      comparison rate
      2.22% p.a.

      Promoted
    • Basic Home Loan

      interest rate
      2.09% p.a.
      fixed 3 years
      comparison rate
      2.43% p.a.

      Promoted
    • Celebrate Variable Home Loan

      interest rate
      2.19% p.a. variable
      comparison rate
      2.19% p.a.

      Promoted
    • Star Gold Home Loan

      interest rate
      1.79% p.a. variable
      comparison rate
      1.84% p.a.

      Promoted

    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 520 home loans in the Mozo comparison engine.

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    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.