We had the best experience 3 times now and would recommend them to anyone.
Absolutely terrible! When we tried to pay out the account and finalise our loan, after making numerous phone calls and writing emails we had no response. They make it impossible to leave, I guess there is more value in keeping us so we can keep paying all the high interest and the monthly fee.
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.
Fail to pass on rate cuts and blame Covid. No good enough.
So they will give you a chance when other banks won't, they are good at working with if you have financial hardship and staff are friendly. Now for the bad, I purchased a property. I had to push back settlement twice because of the bank not being organised. I then sold a property that I loaned against, so they had to release it which was a nightmare. They were supposed to take a percentage but ended up taking the full amount, which I didn't find out about until settlement day. Despite calling multiple times, they didn't allow for settlement fees, so it couldn't settle that day. Anyway got pushed back twice, they had my lawyers details so no excuse for not knowing rates adjustment and other fees. I had even filled out a form to give permission for them to contact my lawyer directly. Anyway settlement got pushed back twice again, my lawyer was pretty horrified with the way I was treated, and the lack of professionalism.
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.
Stay away from this bank. Never pass interest cut and not ready to discuss on any option.
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.
Just don’t trust this bank! Not reliable at all and they take all your money!
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.
They are very greedy and do not pass on the RBA interest cuts.
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.
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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