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loans.com.au Home loan reviews

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Price
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Based on 665 home loan reviews as rated by the Mozo community.

Featured home loan from loans.com.au

Smart Booster Home Loan

interest rate
1.85% p.a.variable for 24 months and then 2.25% p.a. variable
comparison rate
2.21% p.a.

Promoted

Recent loans.com.au home loan customer reviews

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  • loans.com.au Home Loan

    get punished for being loyal customer

    - treats new customers well. journey is different once you become a customer - get punished for being a loyal customers - you will get very quick response if you are to become a new customer -they don't have discharge certificate online -getting discharge certificate is pain. they will purposefully delay or won't respond be careful

    G sap, Australian Capital Territory, reviewed 4 months ago
  • loans.com.au Home Loan

    Nightmare of an experience

    Initial phone call was great, but unfortunately that's where it stopped. They said we only needed a few things for the loan, but in the end had to provide over 20 items to secure the loan. They highlight their OnTrack app, but it straight out didn't work on my android and the bride couldn't even get a log in. This meant everything had to be done with my log in. Their customer service guy we spoke to didn't even know there was an App for OnTrack - he only knew about the app once the loan settled. The OnTrack app had terrible reviews but their tech team didn't know about these. There are so many more examples but not enough space to write about them. All this led to us needing to close this by moving away and even then they proved how poor they were. It's our loan but they wouldn't tell us what the settlement amount was!! I can honestly say we will never consider this lender again.

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    Karl, New South Wales, reviewed 3 months ago
  • loans.com.au Fixed Home Loan (Owner Occupier, Principal & Interest)

    Do not use

    Extremely difficult to deal with. Made us jump through hoops to secure a minimum loan, does not follow through with customers or service. Poor communication, and cannot recommend enough for loans.

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    Anna, New South Wales, reviewed 3 months ago
  • loans.com.au Smart Booster Home Loan (2 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR)

    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.

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    Debbie, Victoria, reviewed 7 months ago
  • loans.com.au Home Loan

    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.

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    Marty, South Australia, reviewed 8 months ago
  • loans.com.au Home Loan

    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.

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    Marty, South Australia, reviewed 8 months ago
  • loans.com.au Smart Booster Home Loan (2 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR)

    Terrific.

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

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    Michelle, Victoria, reviewed 8 months ago
  • loans.com.au Home Loan

    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.

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    Michael, New South Wales, reviewed 8 months ago
  • loans.com.au Smart Home Loan 80 (Owner Occupier, Principal & Interest)

    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.

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    Irene, Queensland, reviewed 8 months ago
  • loans.com.au Smart Booster Investor Bundle Home Loan (1 Year Discounted Variable Rate)

    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.

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    Mai, New South Wales, reviewed 10 months ago
  • loans.com.au Home Loan

    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.

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    Lana, Queensland, reviewed 11 months ago
  • loans.com.au

    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!

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    Richelle, Queensland, reviewed 11 months ago
  • loans.com.au

    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.

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    Bob, Queensland, reviewed 12 months ago
  • loans.com.au Smart Home Loan 80 (Owner Occupier, Principal & Interest)

    Quick easy and cheap

    Quick and easy finance and competitive interest rates.

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    Daniel, New South Wales, reviewed about 1 year ago
  • loans.com.au

    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.

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    Shirley, Western Australia, reviewed over 1 year ago
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    Home loan comparisons on Mozo - rates updated daily

    • Smart Booster Home Loan

      interest rate
      1.85% p.a.variable for 24 months and then 2.25% p.a. variable
      comparison rate
      2.21% 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

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

      Promoted
    • Basic Home Loan

      interest rate
      2.09% p.a.
      fixed 3 years
      comparison rate
      2.32% 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 504 home loans in the Mozo comparison engine.

    Compare more home loans

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