Thumbnail icon for Ratebusters

Ratebusters Home loan reviews

Overall rating
4.6/10
Price
5.1/10
Features
4.2/10
Customer service
5.1/10
Convenience
5.0/10
Trust
3.9/10
Based on 8 reviews as rated by the Mozo community.

Recent Ratebusters home loan reviews

Sort reviews by: date | star rating
  • Ratebusters Home Loan review

    Overall rating   0 / 10
    Never use them

    I would not recommend Ratebusters to anyone. It has been the worst experience ever dealing with them, you think I would have stopped in the early stages of applying for the loan, but no. And now that we have sold our house, and just received out final payout of funds from them it has cost us thousands on top of what you actually owed at settlement. So please I would like to advise you not to use this company ever. Yes I know Ratebusters made a lot of extra money for doing nothing.

    Price
    3 / 10
    Features
    1 / 10
    Customer service
    3 / 10
    Convenience
    2 / 10
    Trust
    2 / 10
    Less
    Kt, Western Australia, reviewed about 6 years ago
  • Ratebusters Home Loan review

    Overall rating   9 / 10

    Excellent customer service. Very low interest rates. Offset account allows any moneys to be withdrawn at any time. Credit card linked to account allowed money to be withdrawn from any ATM (now only Westpac)

    Price
    9 / 10
    Customer service
    10 / 10
    Convenience
    8 / 10
    Trust
    7 / 10
    Less
    Andrew, Victoria, reviewed about 8 years ago
  • Ratebusters Home Loan review

    Overall rating   0 / 10

    Ratebusters are deceitful. I'm sorry if that seems like strong language, but there is no other phrase to describe the way in which they lure you in with a competitive rate, then gradually increase it well above what they advertise on their website. When challenged about this, their response is "the advertised rate is for new customers only." And because of the outrageous break fess, you are locked in for 5 years. Avoid them like the plague. I wish I had.

    Price
    2 / 10
    Features
    3 / 10
    Customer service
    0 / 10
    Convenience
    0 / 10
    Trust
    0 / 10
    Less
    Bill, Queensland, reviewed about 8 years ago
  • Ratebusters Home Loan review

    Overall rating   9 / 10

    They have been very helpful with multiple loans, always have very good rates.

    Price
    9 / 10
    Features
    9 / 10
    Customer service
    9 / 10
    Convenience
    9 / 10
    Trust
    9 / 10
    Less
    Gavin, Victoria, reviewed over 8 years ago
  • Ratebusters Home Loan review

    Overall rating   4 / 10

    Ratebusters had won lender of the year for 3 years running and their rate was about 0.2% lower than the "professional pack" offered by the big 4. However, 3 years on, I still have hefty exit fees and they are now charging 0.1% higher than the professional pack of the big 4. They do however have "another product" which is at a lower rate! I feel like I've been sucked in, locked in and ripped off.

    Price
    2 / 10
    Features
    7 / 10
    Customer service
    8 / 10
    Convenience
    8 / 10
    Trust
    4 / 10
    Less
    Jon, New South Wales, reviewed about 9 years ago
  • Ratebusters Home Loan review

    Overall rating   1 / 10

    Huge application and exit fee. Poor service. Higher interest rate than other banks. Nothing to recommend at all.

    Price
    1 / 10
    Features
    1 / 10
    Customer service
    1 / 10
    Convenience
    3 / 10
    Trust
    0 / 10
    Less
    , Queensland, reviewed over 9 years ago
  • Ratebusters Home Loan review

    Overall rating   9 / 10

    Exorbitant late payment fees

    Price
    10 / 10
    Less
    Mozo community reviewer, Victoria, reviewed about 11 years 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 Home Loan

      interest rate
      2.88% p.a. variable
      comparison rate*
      2.90% p.a.
      upfront fees
      $520

      Promoted
    • UHomeLoan - Discount Offer

      interest rate
      2.84% p.a. variable
      comparison rate*
      2.84% p.a.
      upfront fees
      $0

      Promoted
    • Variable Home Loan

      interest rate
      2.84% p.a. variable
      comparison rate*
      2.80% p.a.
      upfront fees
      $0

      Promoted
    • Basic Home Loan

      interest rate
      3.09% p.a. variable
      comparison rate*
      3.09% p.a.
      upfront fees
      $0

      Promoted
    • Discount Fixed Rate 300k+

      interest rate
      2.89% p.a.
      fixed 2 years
      comparison rate*
      3.76% p.a.
      upfront fees
      $450

      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 532 home loans in the Mozo comparison engine.

    Compare more home loans

    About Mozo community reviews

    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.