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loans.com.au Home loan reviews

Overall rating
8.0/10
Price
9.0/10
Features
8.0/10
Customer service
7.8/10
Convenience
7.2/10
Trust
7.6/10
Based on 662 reviews as rated by the Mozo community.

Featured home loan from loans.com.au

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

Recent loans.com.au home loan reviews

Sort reviews by: date | star rating
  • loans.com.au Smart Booster Home Loan (1 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR) review

    Overall rating   10 / 10
    Very competitive rates and quick online process

    Very quick online process. Efficient and helpful when communicating with them. Once loan set up, the app is easy to use. Very competitive rates.

    Price
    10 / 10
    Features
    8 / 10
    Customer service
    9 / 10
    Convenience
    10 / 10
    Trust
    9 / 10
    Less
    Debbie, Victoria, reviewed 2 months ago
  • loans.com.au Home Loan review

    Overall rating   1 / 10
    Worst Retail Customer Experience I've had in Years

    No Care, no responsibility approach. I refinanced three investment properties. The web based portal never worked until after settlement for two properties. There is still $1,200 in loans.com fees which I am in dispute over(apparently a settlement fee which is not advertised and verbally told at the start would only be applicable for one property being three properties will settle at once); the person who is collecting information would not listen and often provided incorrect information and requests (which was sorted out by the representative after more telephone calls, but delayed settlment) I submitted a review and it has still not appeared on the website (its been 3 days so far - how many poor reviews exist for them?) The interest rates promoted on the web are lower than what I am paying now (for a variable interest only loan). In summary, Don't chase the lowest rate with these guys; you will be disappointed with the service. And yes, they don't reward existing customers by passing on lower rates.

    Price
    9 / 10
    Features
    7 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Marty, South Australia, reviewed 3 months ago
  • loans.com.au Home Loan review

    Overall rating   1 / 10
    Worst Retail Experience - Don't Chase the Low Rate

    From start to finish, it has been a nightmare. I refinanced three investment properties and I needed to constantly keep an eye on what was going on - the web based portal never worked until after settlement for two properties, so there was always a string of phone calls which you need to book a time to touch base with your representative; there is still $1,200 in fees which I am in dispute over - no-one has got back to me (apparently a settlement fee which is not advertised and verbally told at the start would only be applicable for one property being three properties will settle at once); the person who is collecting information would not listen and often provided incorrect information and requests (which was sorted out by the representative after more telephone calls, but delayed settlment); I submitted a review and it has still not appeared on the website (its been 3 days so far - how many poor reviews exist for them?) The interest rates promoted on the web are lower than what I am paying now (for a variable interest only loan). In summary, you pay for what you get - don't chase the lowest rate with these guys; you will be disappointed with the service. And yes, they don't reward existing customers by passing on lower rates.

    Price
    9 / 10
    Features
    7 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Marty, South Australia, reviewed 3 months ago
  • loans.com.au Smart Booster Home Loan (1 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR) review

    Overall rating   10 / 10
    Terrific.

    I love this bank, very easy to talk to, they offer compassion and explain things that ordinary people understand.

    Price
    8 / 10
    Features
    6 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Michelle, Victoria, reviewed 4 months ago
  • loans.com.au Home Loan review

    Overall rating   1 / 10
    Avoid this lender!

    I do not normally write reviews but I have been with loans.com.au for over 5 years and in that time my rate is now about 1% higher than their advertised rate. They do not care about existing customers and their business model is bait and switch. Please beware! I will now be refinancing! Avoid this lender as there are many better online lenders out there.

    Price
    1 / 10
    Features
    4 / 10
    Customer service
    2 / 10
    Convenience
    2 / 10
    Trust
    1 / 10
    Less
    Michael, New South Wales, reviewed 4 months ago
  • loans.com.au Smart Home Loan 80 (Owner Occupier, Principal & Interest) review

    Overall rating   1 / 10
    Cannot recommend due to settlements team

    Unfortunately the settlements team lets this financial institute down, like many settlement teams they hide behind the front row workers and when there is an issue the settlement team run for it, how many of us (clients) have been able to actually speak to management in the settlements team? We have had two now failed settlements going for a third tomorrow! That is how much trust we have in loans.com. These are fully approved loans with no conditions attached! Have put in a complaint but even then they do not seem to have a standard complaints procedure. Guess more will be revealed tomorrow, good luck to those who use loans.com com - I think if you have a really simple loan you might be ok, otherwise would not recommend. Loans.com were recommended to us, and seemed OK but now there's no way could recommend them. Without loans.com settlement we cannot purchase our property next week which is unconditional, so we have no idea what we are going to do as it is not as if the money is not there. It is all about loans.com settlements sorting out details with other financial institutions to ensure settlement occurs, and not hiding behind the frontline workers.

    Price
    3 / 10
    Features
    2 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Irene, Queensland, reviewed 4 months ago
  • loans.com.au Smart Booster Investor Bundle Home Loan (1 Year Discounted Variable Rate) review

    Overall rating   1 / 10
    Don't even bother.

    It has been 4 weeks since I applied for the refinanced loans and after subjecting me to a full financial audit (the worst I have been through trying to get a loan in 20 years) and still no sign of final approval. They kept asking to pay off more of the current balance saying based on my income they can't lend me that much. I had to reduce my loan balance twice already, still no sign of final approval. Honestly if not for the fact they already charged me the valuation fees I would have just gone elsewhere. Which brings me to the point that they shouldn't do a valuation and charge people for it until they approved the loan subject to valuations only. Wasting everyone money! Low interest rate is so not worth it.

    Price
    1 / 10
    Customer service
    4 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Mai, New South Wales, reviewed 5 months ago
  • loans.com.au Home Loan review

    Overall rating   10 / 10
    They are great.

    They have been the best. I cannot fault them at all. Their support has been excellent. I would like to go one year of interest only, but cannot do it.

    Price
    10 / 10
    Features
    8 / 10
    Customer service
    10 / 10
    Convenience
    7 / 10
    Trust
    10 / 10
    Less
    Lana, Queensland, reviewed 7 months ago
  • loans.com.au review

    Overall rating   6 / 10
    No frills means exactly that!

    Overall I feel Loans.com.au offer a good product. It's a cheap no frills version home loan, so if you just want to pay off your home loan with an offset account - its a great option. My problem is during COVID my hours were reduced to half, so I asked for a month or two of reduced payments. They agreed completely and offered 3 months of half payments. This was great news for a single mum. The problem was they didn't follow through and kept charging me the full amount. Their system doesn't allow you to see when payments are taken - it's confusing and the staff admit to that. So because I had extra money in the account they just took the lot. So in the end I didn't get a discount at all and they didn't really care. The staff member said sorry but it honestly felt like a "sorry, not sorry". I am not saying not to go with them but a no frills online version of a home loan is exactly that. When my hours are increased I will most likely look to go with another lender as many are offering great rates and some offer cash to move. Of course you have to read the fine print but there are some great deals out there!

    Price
    9 / 10
    Features
    9 / 10
    Customer service
    6 / 10
    Convenience
    9 / 10
    Trust
    6 / 10
    Less
    Richelle, Queensland, reviewed 7 months ago
  • loans.com.au review

    Overall rating   2 / 10
    Feel cheated

    Hooked up to that loan for the advertised rate than our rate was lifted to higher than anyone else. They still get away with it surprisingly.

    Price
    1 / 10
    Features
    1 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    2 / 10
    Less
    Bob, Queensland, reviewed 7 months ago
  • loans.com.au Smart Home Loan 80 (Owner Occupier, Principal & Interest) review

    Overall rating   10 / 10
    Quick easy and cheap

    Quick and easy finance and competitive interest rates.

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Daniel, New South Wales, reviewed 9 months ago
  • loans.com.au review

    Overall rating   0 / 10
    Zero care for loyal customers.

    I've been with loans.com.au for over 5 years, with 3 mortgages & approximately $200k in savings. Over that time they've snuck the rate up on us to 1% above their advertised rate. When we rang them about it, they said someone would call us back within 5 working days. Still no word after a fortnight, they obviously don't care about retaining our business so we're moving our loans elsewhere. Good riddance.

    Price
    0 / 10
    Features
    0 / 10
    Customer service
    0 / 10
    Convenience
    0 / 10
    Trust
    0 / 10
    Less
    Shirley, Western Australia, reviewed 11 months ago
  • loans.com.au review

    Overall rating   1 / 10
    Not what they seem

    Don’t believe the hype. They will promise you a great deal but won’t deliver. There are far better providers out there.

    Price
    5 / 10
    Features
    2 / 10
    Customer service
    0 / 10
    Convenience
    3 / 10
    Trust
    1 / 10
    Less
    Jon, Queensland, reviewed 11 months ago
  • loans.com.au review

    Overall rating   1 / 10
    Bad customer service.

    Once you are with them, you cant negotiate. Not friendly at all.

    Price
    2 / 10
    Features
    2 / 10
    Customer service
    1 / 10
    Convenience
    0 / 10
    Trust
    1 / 10
    Less
    Ano, Victoria, reviewed 11 months ago
  • loans.com.au Special Offer Fixed Rate Home Loan (Owner Occupier, Principal & Interest) review

    Overall rating   2 / 10
    They passed on 0% of the RBA cut.

    It's worth noting that, unlike all the major banks, loans.com.au didn't pass on any of the latest Reserve Bank interest rate cut. As in, they passed on 0% of the RBA cut. Which is shameful to say the least.

    Price
    5 / 10
    Features
    5 / 10
    Customer service
    7 / 10
    Convenience
    5 / 10
    Trust
    5 / 10
    Less
    Campbell, Victoria, reviewed 11 months ago
  • Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

    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
      1.85% p.a.
      fixed 3 years
      comparison rate
      2.24% p.a.

      Promoted
    • Celebrate Variable Home Loan

      interest rate
      1.99% p.a. variable
      comparison rate
      1.99% p.a.

      Promoted
    • Variable Home Loan Special

      interest rate
      2.09% p.a. variable
      comparison rate
      2.12% p.a.

      Promoted
    • Basic Home Loan

      interest rate
      2.09% p.a.
      fixed 3 years
      comparison rate
      2.43% 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 515 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.