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Resimac Home loan customer reviews

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Based on 42 home loan reviews as rated by the Mozo community.
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Recent Resimac home loan customer reviews

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  • Resimac Prime (Owner Occupier, Principal & Interest, LVR <70%)

    Great ratesz

    Happy with it just wish I had a branch, it’s all phone

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    Lisa, Victoria, reviewed 15 days ago
  • Resimac Home Loan

    Here is your hindsight. Avoid Resimac at all cost!

    Please, if youre reading these reviews, you must be thinking about finding a mortgage provider. Use the benefit of all of our experience. Stay the hell away from Resimac. They are the finance devil. This is the 20/20 hindsight you've always wished you had. Use it. Go elsewhere!

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    Paul, Australian Capital Territory, reviewed 11 months ago
  • Resimac Home Loan

    I would never recommend this Lender to any one.

    This Lender is completely unprofessional. They even sent me an email from another Customer. Higher interest rates, non existent Customer Care.

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    Michael, New South Wales, reviewed 12 months ago
  • Resimac Home Loan

    Poor customer care

    Do not under any circumstance deal with this company! Unfortunately I went through a broker who led me to Resimac...no doubt there must be more commission in it for him. In anycase they charge at least 1.5% more in interest than any other lender. You cannot get hold of them even for the simplest of tasks. Even if no-one else will offer you a loan, its best to look after your mental welfare than having to deal with them.

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    Ana, South Australia, reviewed about 1 year ago
  • Resimac Home Loan

    DO NOT DEAL WITH RESIMAC!

    Stay as far from Resimac as you can! They will rip you off. (I have significant experience with lenders.)

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    Peter, Queensland, reviewed over 1 year ago
  • Resimac Home Loan

    Needlessly difficult to deal with

    I guess if you are struggling to find a major lender to loan to you they might be a good option, this wasn't my case, I got lead up the wrong path by a broker. The interest rates are always high, I guess due to my first point. They can hold you over a barrel. BUT, I will give them this, when we decided to refinance, Resimac suddenly came to the table and matched the other lender's rate. Their Loan Enquiry website is not functional and looks and operates like a 90's tabbed webpage made on Angelfire (there's a throwback for ya!). I found it confusing to navigate. Contacting customer service is a nightmare, prepare to spend hours on hold. If you email them you get a response faster. They have made refinancing difficult also as the loan number of the account doesn't relate to a BSB and Account, it seems to be some kind of internal reference only, so our new lender couldn't transfer into it to settle. Instead of providing the mortgage account number for the new lender to pay out the loan, they provided the offset account instead.

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    Stephanie, Victoria, reviewed over 1 year ago
  • Resimac Prime Flex (Owner Occupier, Principal & Interest, LVR <70%)

    Formal Loan Approval has an expiry date

    I'm not feeling very confidence in Resimac lender. Contract of Sale was signed and "Formal Approval" was granted Feb 2021 by Resimac in writing. Settlement was delay by Vendor for 8 months. Broker communicated with Resimac and inform them of the delay and was told - all was in order in regards to documents and there has been no changes to my financial situation. 22 hours until settlement and I was told, Resimac needs to re-accessed the loan documents again, basically I have had to reapply for the loan process and it will take at least 3 weeks. Vendor asked for penalty interest 12% on purchased priced. Just wish they had told me the formal approval loan will expired at 6 months. Not 22 hours to settlement and then tell me.

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    Twee, Victoria, reviewed over 2 years ago
  • Resimac Home Loan

    Waste your deposit, time and opportunities

    If you want to loss your deposit and time, go with this lender. Personal experience happy to share it more than 40 Days of games. Lost a real opportunity and money. They don’t care about your deadlines or loss. You will end up paying double interest rate if you add up your losses. Happy to proof it and shows you documents.I am AAA Credit rating.

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    Adam, New South Wales, reviewed almost 3 years ago
  • Resimac Home Loan

    Resimac way or the highway.

    First red flag is that Resimac is an ASX listed company. As such, profits are at the forefront for its shareholders no matter what. My experience with them is as follows and you can draw your own conclusions. 1. I started my process of refinancing with Resimac in Feb of 2021. In June of 2021 I still had no clear date for a settlement although conditional approval had been granted. 2. I had funds taken from my credit card (some 2 to 3 months after my authorisation) for evaluations of properties I own to be used as security. No correspondence was received from Resimac to advise that the funds were being taken or had been taken. The bank statement of the withdrawn funds made no reference to Resimac whatsoever. 3. Resimac charged $256 for 1 of the evaluations. Later they wanted to undertake another evaluation of the same property for $800 with no certainty of securing my refinancing. 4. Any attempts at negotiations always saw Resimac dictate the terms with no flexibility. Basically it was their way or the highway. I must admit that with 100's of lenders available the highway has been productive!

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    Peter, New South Wales, reviewed almost 3 years ago
  • Resimac Home Loan

    Don't go for home loan with Resimac

    Don't go for home loans with them as they take more than 12 weeks for home loans but on advertise they say only 4weeks. They don't care about your loan approval dates or any extensions or even you losing a deal.

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    Kanwal, Victoria, reviewed almost 3 years ago
  • Resimac Prime Flex (Owner Occupier, Principal & Interest, LVR <70%)

    Best rates

    Excellent rate. Just have to be wary that redrawing from the offset account can take a day - due to them being a securitised lender and not a deposit taking lender.

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    Martie, New South Wales, reviewed about 3 years ago
  • Resimac Prime (Owner Occupier, Principal & Interest, LVR <70%)

    Do not consider Resimac as your lender

    Resimac is a law unto themselves. I will certainly be looking to switch my investment loan. The Royal Commission has been a waste of money. None of the banks have changed, they are still treating the customers like fools. When the RBA changes the interest rates, Resimac may or may not pass on the interest rate reduction. But if they do pass on the drop in interest rate it takes 4 weeks to pass on the rate reduction. BUT when the rate does up, it goes up over night. When i asked Resimac to explain why it takes 4 weeks to reduce the interest rate, they said they have to set their computers. They must use different computers to create the interest rates increase because it goes up over night. Gee they must think the general public is stupid. Who with half a brain would use that as a reason for not passing on the interest rate.

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    Theresa, Queensland, reviewed almost 4 years ago
  • Resimac Prime (Owner Occupier, Principal & Interest, LVR <70%)

    DON't borrow a penny from this company.

    DO NOT GO WITHIN A BULLS ROAR OF THIS COMPANY. This company is a wholly owned subsidiary off resimac who are just as bad or worse My ex and I borrowed $321889 from state custodians in approx 2013. In January 2019 my ex and I separated. I am the primary borrower on the account. We had never missed a payment or made a late payment. indeed at separation there was $60,000 plus in the offset account. Due to legal costs this was run down quite quickly. my wife was able to transfer $20,000 into the offset account, repayment of a loan until we could sort out property settlement. She then said it was a mistaken transaction and asked her bank to reverse the payment. Due to legal costs there was only a couple of hundred dollars left in the account. In Oct 2019 State custodians simply reversed the payment without my knowledge or even a phone call leaving the mortgage $19700+ in arrears. The first I knew off it was when I received a letter from a collection agency stating that your mortgage was $19700+ in arrears and plus hefty fees if the arrears are not cleared with 30 days we will be exercising our power of sale. I rang them to find out what was going on they refused to talk to me, the gave me no information were extremely evasive then refused to even talk to me.I was forced to sell share at a loss to cover the arrears. I made a complaint to A.F.C.A but as a result of their evasions and frankly lies the matter has still not been settled. Trust me DO NOT Borrow a penny from this company their customer service is disgusting. EVEN if a broker recommends them DO NOT borrow from this company, there are better companies with cheaper rates available. Plenty of them. MAKE ABSOLUTELY NO MISTAKE I can not empress upon you enough how toxic this company is.

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    Paul, Victoria, reviewed almost 3 years ago
  • Resimac Prime (Owner Occupier, Principal & Interest, LVR <70%)

    Ignored and forgotten.

    Resimac took over Homeloans.com.au, and since then only Resimac loans have been subject to changes, those of us that came before are basically ignored.

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    Clive, Queensland, reviewed almost 4 years ago
  • Resimac Prime (Owner Occupier, Principal & Interest, LVR <70%)

    Competitive interest rate.

    Very good interest rate and a 100% offset, this was the best option available when we looked. Their online system could be easier to use but gets the job done. I haven't had to use it too much.

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    Chris, Western Australia, reviewed almost 4 years ago
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    Home loan comparisons on Mozo - rates updated daily

    • Unloan Variable

      interest rate
      5.99% p.a. variable
      comparison rate
      5.90% p.a.

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    • Express Home Loan

      interest rate
      6.01% p.a. variable
      comparison rate
      6.14% p.a.

      Promoted
    • Flex Home Loan

      interest rate
      5.99% p.a.
      fixed 3 years
      comparison rate
      6.37% p.a.

      Promoted
    • Discounted Home Value Loan

      interest rate
      6.09% p.a. variable
      comparison rate
      6.09% p.a.

      Promoted
    • Neat Home Loan

      interest rate
      6.14% p.a. variable
      comparison rate
      6.16% p.a.

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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.

    Want more? Compare all 465 home loans in the Mozo comparison engine.

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