Plan lending is a very good online bank, part of NAB. Easily accessible online and by phone, great customer service, however there are no branches to visit.
We went with NAB because I was eligible for the DHOAS package. I was then informed that I could not get the same home loan interest rate if we applied for the NAB DHOAS package into our home loan.
I dislike this bank as they have not been flexible with my situation, they have never offered a rate review in the whole time I have been with them which is 6 years. They are not interested in working with me as a customer for my future plans.
Constant errors processing my application. Duplicate requests for information. Failure to send documents in time for settlement which cost me hundreds of dollars in fees etc. I had to collect docs myself by hand. Failure to properly follow up after settlement with information as to where and when I should make payment I had to phone them for details. Interest charged from initial missed settlement date anyway even though it was there fault it was missed and I incurred additional costs. Overall a shambles form start to finish.
The are reliable and reasonable customer service. However you must keep on them to bring your interest rate down when the market moves - otherwise you will languish with a higher rate while new customers are offered lower rates.
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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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