Stay away from Liberty. I have a SMSF home loan and am still paying over 6% interest rate. They have not passed on anything in the last 4 rate cuts, they are hopeless and refuse to pass any cuts. Not very competitive.
Staff are always pleasant and helpful. Rates are too high and they aren’t interested in negotiating despite having 4 loans with them.
Speedy approval and will lend to older Australians. Rate started at 4% and now down to 3% which is fairly competitive and very happy given that they are not a bank. Most RBA cuts have been passed on.
We appreciate the bank as they give loans even though income is not high, however their interest rate is very high comparatively.
Horrible bank and terrible rates and fees.
Liberty came through for me when other banks did not. They have been really good whenever I’ve asked for a rate decrease in line with the RBA.
Excellent product, great rate, very helpful team, convenient offset, only slight negative is taking funds out from Offset is slightly cumbersome and restrictive.
Liberty are charging us 5.76% interest for our loan when I'm only being charged 3.02% on our loans with other banks, and they don't charge a $30 per month service fee like Liberty does either. On top of that Liberty sent emails to all borrowers and put a message on their website stating that they are here to help borrowers affected by the Coronavirus by 'Waiving loan fees or charges'. Yet when I asked Liberty for help I was told that they will only assist with fees if we default on the loan! So they're not in fact helping anyone financially responsible who is trying hard not to default - pathetic service and false advertising from Liberty. Get your loan from any other financial institution besides Liberty.
Do yourselves a favour and stay away from Liberty. I have a SMSF home loan and am still paying 6% interest rate. They have not passed on anything in the last 4 rate cuts, they are shameless and refuse to pass on anything.
Very lengthy process. Not replying back to emails. High rate in comparison to others. Lost a doc which resulted in a $560 extra expense for us. I wouldn’t recommend them to anybody.
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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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