Anyone used loans.com.au? Their variable rate looks good 6.29%. How's their after sales service etc?
Loans.com.au
- Thread starter tommyjustme
- Start date
I had a bad experience with them.
I sent them documents to settle on a property I was buying and I had 6 weeks to settle. I sent all docs in registered mail.
They kept insisting that the mail man lost them, but the registered mail said it had been delivered the next day I sent them.
Then, they told me that the documents would be in the scanning room, as they were a "paperless office", and they would be scanned and processed.
3 weeks later of me insisting every day, they reckon the documents "turned up" and sent me a contract.
All the info in the contract was wrong. The loan quantities, securities, everything was wrong.
And they told me to scan the purchase contract and email it to them (didn't they just take 3 weeks to scan it themselves?).
I ended up running to my Credit Union, accepted whatever interest rate, and settled 4 weeks later.
I was at default because loans.com are incompetent, and it cost me $$
I sent them documents to settle on a property I was buying and I had 6 weeks to settle. I sent all docs in registered mail.
They kept insisting that the mail man lost them, but the registered mail said it had been delivered the next day I sent them.
Then, they told me that the documents would be in the scanning room, as they were a "paperless office", and they would be scanned and processed.
3 weeks later of me insisting every day, they reckon the documents "turned up" and sent me a contract.
All the info in the contract was wrong. The loan quantities, securities, everything was wrong.
And they told me to scan the purchase contract and email it to them (didn't they just take 3 weeks to scan it themselves?).
I ended up running to my Credit Union, accepted whatever interest rate, and settled 4 weeks later.
I was at default because loans.com are incompetent, and it cost me $$
Everything else aside, why didn't you just re-send the documents? If originals are required, I'd send certified copies instead.
They never admitted to losing the documents. They would say "they will be in the scanning room, I'll probably get an email this evening with them".
I had filled an application form and signed it, so I wasn't sure if it was binding. I couldn't sign anything else with another lender.
I told them I didn't want to deal with them any more, once I gave up on them, and signed an application with the Credit Union.
I was waiting for a letter from loans.com suing me to follow through, but I didn't care any more, I just didn't trust them with my finances.
I never heard back from them
I had filled an application form and signed it, so I wasn't sure if it was binding. I couldn't sign anything else with another lender.
I told them I didn't want to deal with them any more, once I gave up on them, and signed an application with the Credit Union.
I was waiting for a letter from loans.com suing me to follow through, but I didn't care any more, I just didn't trust them with my finances.
I never heard back from them
Is the suing thing real, or assumption ? I would have thought they dont have a leg to stand on
ta
rolf
Evening.
I used them last year to refinance a property. While I did encounter similar difficulties alluded to above (w.r.t returning documents), I found their customer service rep easy to deal with and am happy with the final product.
Would I use them again?
Yes; but not if I positively had to have a quick settlement.
Cheers
I
I used them last year to refinance a property. While I did encounter similar difficulties alluded to above (w.r.t returning documents), I found their customer service rep easy to deal with and am happy with the final product.
Would I use them again?
Yes; but not if I positively had to have a quick settlement.
Cheers
I
Thanks Issac37 for your positive feedback, it is always fantastic to hear from our happy customers. We have improved our document processing and settlement substantially since you applied for your loan. Being a relatively new business, there are always improvements we can make.
Hi MRivera, while I cannot comment about what other lenders and brokers might do, our loan application does not create an obligation forcing you to settle your loan with us, so we could not, and more importantly would not take action against you. If you have any questions you can contact me directly, as I’m happy to help.
I hope that clarifies this concern for you.
Kind Regards,
Jason
loans.com.au
Hi MRivera, while I cannot comment about what other lenders and brokers might do, our loan application does not create an obligation forcing you to settle your loan with us, so we could not, and more importantly would not take action against you. If you have any questions you can contact me directly, as I’m happy to help.
I hope that clarifies this concern for you.
Kind Regards,
Jason
loans.com.au
An application form does not obligate you to take finance with a lender. It's an application, not an acceptance of an offer.
This doesn't mean you should make an application with every lender you come across. Multiple applications will appear on your credit file, raise questions and possibly elminiate you from borrowing money with a lot of lenders.
This doesn't mean you should make an application with every lender you come across. Multiple applications will appear on your credit file, raise questions and possibly elminiate you from borrowing money with a lot of lenders.
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