24 questions from our users
Ulungasked
Can you ask for a different broker? I want to release further equity and my original contact have not return my calls. Very disappointed!
3 answers
Do they have your right number??? Just guessing
Mortgage H.Mortgage House
Hi Ulung, our apologies, we have just come across this message. Could you please call us so we can assist you. We cannot find you in the system with this profile name and wouldn't ask you to put your personal information in this public forum. Please call us as soon as possible on 133 144 so we can help. Many thanks.
No surprise there. Definitely among the most unprofessional bunch I have ever had the displeasure of working with.
Unfortunate Customerasked
Hi just wondering if everyone on a variable interest rate loan has had their rate increased recently ? The variable rate offered to me and pre approved was 3.95%.I sign the paper work and then get a letter saying that the rate will change on the first of December to 4.01% "Following recent changes in interest rate". This has all happened before the loan has been settled and I am feeling like I have just been conned. The RBA hasn't increased rates, and they aren't subject to government legislation requiring them to hold more capital. They are still advertising a lower rate. So whats the deal ?????????? Judging from more recent reviews I'm not the only one. Is this a wide spread rate increase or just a select few?
8 answers
We've also received a letter saying that the rate will increased from to 4.14% to 4.34% from December, and our loan was just approved in Oct 2015! The RBA didn't increase the rate, I wonder if that means Mortgage House can increase the rate by any amount at anytime they like!!
Looks like it is a rise but varied for all customers. For some is .20% or .15% or even .06%. I complained to ombudsman about it.
Hi, I'm also been conned on this, I gave a raving review but now will be retracting it and will warn potential customers. Mine was increased by 15 basis points so I'm now paying 4.10%. I've filed a complaint with ACCC and will follow this up with Fair Trading. How did others go about their complaints with MH? MH emailed me back saying that they can't lower my interest back to 3.95% without giving any reason despite the fact that they're still advertising it at an even lower rate of 3.94%.
jg89asked
Hey,
My partner and I have contacted mortgage and are waiting to have a phone conference with one of the broker but after reading these reviews I am nervous about dealing with them.
Just wondering does anyone have more information about their 99% home loan and know how it works? We have a very small deposit but have been told that we may be able to borrow over $600,000 where as Aussie home loans has told us that we need to keep saving for a bigger deposit. I've done some research and looks like all banks and mortgage lenders are only offering 95% of the purchase price. This does not include stamp duty and legal fees.
Has anyone had any success obtaining a 99% home loan?
Look forward to hearing from you!
4 answers
Hi
I found Mortgage House extremely knowledgeable and willing to assist in helping one secure a loan. I initially spoke to Aussie and they informed me not to apply for any loan until I have worked for at least 6 months in Australia. Mortgage House understood our situation and were willing to assist with finance much earlier. We opted for investment and managed to secure a 90% loan with fees structure. Mortgage loan insurance is payable when you do not have a 20% deposit, this is fine for investment but will add additional costs for a first home. Hope this info helps...
Thank you for your answer. Do you know much about their 99% home loan and how it works? I've done my research and understand mortgage insurance and the legal fees. I am wondering how can mortgage house offer 99% of the purchase price home loans when other major lenders only offer a maximum 95% of the purchase price?
Be very wary. Read through all the comments on here. The positive ones are on top. There are many of us who have been stung by this disreputable company. They are not always honest in how they structure things. Buyer beware :(
RantMasked
Hiya just wondering do all you guys eventually get a homeloan through MH or did they say yes yes yes and then no ??? Thanks
5 answers
They said yes but failed to deliver. They kept requesting information that had already been sent, they denied recieving documentation that had been sent and asking for extensions on settlement date and it was very embarrassing and extremely unprofessional. We have had 2 previous loans through them and they did the same thing but this last time we had had enough. We went through a different lender and would never borrow through them again nor recommend anyone else does. Be very wary!
Thats exactly what happened. Leave RUN get out. Go to a reputable bank. Thats what i did..and had a loan within 24 hours with good interest rate.
Mortgage H.Mortgage House
Many factors are involved in the approval and settlement of a home loan to address a diverse range of customer circumstances. Some loans are relatively straightforward with the borrowers situation fulfilling the minimum requirements of a loan, along with the property they wish to purchase being in good condition and located in a well-established, metropolitan residential area. If the application doesn’t fulfil these minimum requirements, the situation becomes more complex with a greater amount of information required from the borrowers to meet lending guidelines. We aim to minimise the level of difficulty by building a complete borrower profile during our interview process to assist with the efficient approval and settlement of a loan. Unfortunately delays can occur during a complex loan application due to the comprehensive amount of information required.
Our objective is to always to go a step further in assisting our customers. We would be happy to discuss further on (02) 8116 1000.
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