loans.com.au

Discussion in 'Loans & Mortgage Brokers' started by dan2101, 8th Jul, 2015.

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  1. Azazel

    Azazel Well-Known Member

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    I'm not so sure, in my experience I tried about 3 times to get a loan through with loans.com.au in a timely fashion. Didn't happen. Missed out or moved on. Managed to get one through with UBank easily enough.
     
    Azazel, 29th Jul, 2015
    #41
  2. dan2101

    dan2101 Well-Known Member

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    Just an update. Ended up going with loans.com.au and found them very helpful and the application process really easy.

    If you're purely after a great rate I'd definitely recommend. 4.04% comparative rate is pretty hard to beat.

    4.09% with the offbeat account.

    Cheers

    Dan
     
    dan2101, 23rd Aug, 2015
    #42
    Redwing likes this.
  3. Azazel

    Azazel Well-Known Member

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    Hey Dan, good news.
    How long did it end up taking from start to unconditional?
     
    Azazel, 23rd Aug, 2015
    #43
  4. dan2101

    dan2101 Well-Known Member

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    Hey Azazel,

    Well I had The standard finance clause in the contract and I was unconditional by the end of that so I guess about 5 days. I've used NAB, Homeside and citibank before and to be honest I found loans.com.au to be the easiest to deal with of the lot. You get a document checklist online that you need to submit and follow that. I found my loan officer to be good as well. Maybe I got lucky but no complaints here!
     
    dan2101, 23rd Aug, 2015
    #44
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  5. Azazel

    Azazel Well-Known Member

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    Glad to hear, sounds like you had a pretty smooth process.
    Maybe they've changed, or maybe they just didn't like us ;)
     
    Azazel, 24th Aug, 2015
    #45
  6. vbplease

    vbplease Well-Known Member

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    Dan is the 4.09% for IO or P+I ?
    Thanks
     
    vbplease, 24th Aug, 2015
    #46
  7. dan2101

    dan2101 Well-Known Member

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    Vbplease you'd have to check their website I can't remember. I just know my rate is 4.02% interest only (4.04% comparison rate).
     
    dan2101, 24th Aug, 2015
    #47
  8. Redwing

    Redwing Well-Known Member

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    Jut looked at their site today (over a friends shoulder who was making inquiries with them)

    Rates from 3.64% variable rate p.a.* (80% LVR) 3.66% Comparable

    He is currently with another bank paying 4.99% , Interest Only payments and looking to refinance his PPoR and IP across to Loans.com.au
     
    Redwing, 22nd Jun, 2017
    #48
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  9. meme plecko

    meme plecko Well-Known Member

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    sydney
    3.64% is the P+I rate.

    My interest only rates range from 3.93% to 4.05% across five loans and this is AFTER loans.com.au increased their IO rates by 0.2% a month ago.

    By the way, for anyone considering switching to them, feel free to contact me if you would like to discuss the whole application process, how to get a refund of the settlement fee etc.
     
    meme plecko, 22nd Jun, 2017
    #49
  10. euro73

    euro73 Well-Known Member Business Member

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    They must be ticking boxes for lots of people...just hit $8 Billion in loans
     
    euro73, 22nd Jun, 2017
    #50
  11. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    Sub 80% variable P&I rates are sharp but their fixed rates and variable Its are on par with the market.

    The biggest issue with firstmac/loans.com.au is the cash out policy.
     
    Shahin_Afarin, 22nd Jun, 2017
    #51
  12. zzzzz

    zzzzz Member

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    Cash out policy?
     
    zzzzz, 23rd Jun, 2017
    #52
  13. Redwing

    Redwing Well-Known Member

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    He has been offered 3.64% P&I on PPoR loan and 3.99% I-O on the investment loan
     
    Redwing, 23rd Jun, 2017
    #53
  14. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Loans and similar non apra lenders are Good for fully drawn advances.

    I need to often remind people that with redraw offset, the Borrowers money becomes the lenders money and is subject to their redraw criteria which isn't a problem when everything is rosy, but may be less so if we end up in a liquidity issue .

    Ta
    rolf
     
    Rolf Latham, 25th Jun, 2017
    #54
    Redwing likes this.
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