Some of you have real good questions.
We have a list of frequently asked questions and answers that might help you on your loan journey.
Customer service FAQ
Setting up & Accessing Accounts
There are no fees associated with viewing transactions, transferring funds or scheduling payments via your online services. You can also download unlimited interim statements, completely free of charge.
To access Smart Money visit https://money.loans.com.au/ or click the sign in icon in the top right hand corner of the website. You will receive your customer number and a temporary access code once your loan settles, however if you need these details give us a call on 13 10 90 from 7am to 7pm AEST Monday to Friday and our staff can set you up.
You can edit an existing direct debit when logged in to your Smart Money account, under the “manage” tab. Alternatively, call our Customer Care Team on 13 10 90 (Monday to Friday between 7am and 7pm AEST) and we will update your Direct Debit immediately.
To give a Third Party the authority to contact us regarding your accounts, please complete a Third Party Authority form, which you can request by contacting our Customer Care team on 13 10 90 7am to 7pm Monday to Friday. A Third Party can be given access to find out information about your accounts, but will not have access to Internet Banking, Cards, or to make any changes to your accounts.
You can make a BPay from your existing loans.com.au account by logging in to your Smart Money account, under the ‘Payments’ option. Please note this facility is not available for fixed rate loans.
Smart Money is secured by Geotrust. SSL certificates from Geotrust® are the ultimate security and trust solution delivering both 256-bit encryption and the True Site™ trust mark providing third party website identity validation. The presence of SSL means you can rest assured that communications (e.g. credit card numbers) sent between your browser and this site’s web servers are private and secure when the SSL session is activated.
You can add or amend a direct debit by logging in to your Smart Money account, and selecting the ‘Manage” tab, then 'Edit direct debit details’. From there, you can now add or edit your direct debit details. Alternatively, call our friendly Customer Care team on 13 10 90, who are available to assist you from 7am to 7pm Monday to Friday.
You can setup a pay anyone account using our online finance management service, Smart Money, and clicking "Personal Payees". To make sure it's you setting up the pay anyone account, we will send you an SMS activation code that must be entered before you can send any money to the new pay anyone account.
If you don't have a mobile phone or mobile signal to receive the SMS activation code, contact our Customer Care team on 13 10 90 7am-7pm AEST Monday to Friday and we'll send you a form to setup a new pay anyone account.
By calling in and speaking to someone in our payments team on 1800 651 898. You will need to complete a hardship application and return it with all the relevant supporting documents within 28 days.
When we receive your hardship application we will contact you within 5 days. Depending on your personal circumstances, it may take up to 4 weeks to have a final outcome on your hardship application commencing from when we receive your hardship application, complete with the relevant supporting documents.
Please call our Payments team on 1300 784 434 between 7am to 5pm AEST Monday to Friday for further assistance.
Please call our Payments team on 1300 784 434 between 7am to 5pm AEST Monday to Friday for further assistance.
Complaints & Contact
Loans.com.au has an Internal Dispute Resolution (IDR) process to investigate and respond to all customer complaints within 45 days. Our IDR process is detailed below.
When we receive a complaint, the matter is referred to a manager with the appropriate knowledge and authority to undertake the investigation.
The manager completes a thorough investigation of your complaint and sources any supporting documentation if required. Once their investigation is completed, full details and results are returned to the Customer Relations team for assessment.
Once we receive the completed complaint investigation, we will then provide the outcome of the investigation and the reasons for reaching that decision to you in the same way you contacted us whether that’s by post, fax, email (if submitted via our website), or telephone.
If you aren’t satisfied with our response to your complaint, you have the option to contact the Australian Financial Complaints Authority (AFCA) with your concerns.
Before you contact AFCA, you must give Loans.com.au the opportunity to investigate and respond to your complaint.
You can contact the Australian Financial Complaints Authority at www.afca.org.au or on 1800 931 678.
Our Loan Specialists are available from Monday to Friday, 8:00 am until 6:00 pm, AEST. Please feel free to call us on 13 10 90 if you wish to speak directly with our Loan Specialists.
Our live chat hub hours are Monday to Sunday between 7am and 12am AEST.
Loans.com.au welcomes all feedback from all our customers. If you have a concern that can’t be resolved straight away, we will investigate your case and keep you informed of the progress.
If you have a complaint, please contact loans.com.au at: email@example.com
You can call Customer Care on 13 10 90 option 3. Our Customer Care team are based in Brisbane and available from Monday to Friday 7am to 7pm. AEST.
Home loan FAQ
Applying for a home loan FAQs
We charge a settlement fee of $300.00 and in addition a valuation fee. The valuation fee for a standard property in a metropolitan area in a major city starts at $220.00 for properties valued up to $1million. The valuation fee is not refundable and is payable when the valuation is ordered. The remaining $300.00 settlement fee is deducted from the loan proceeds at settlement.
Once you have completed your application online we can generally get preliminary approval to you within 48 hours.
Once you have received your final approval we will then send you your loan contracts to be signed. This will include a discharge document for your current lender. Once we have received all of your signed documents back, we will then forward the discharge form to your current lender requesting suitable day and time to payout and close your home loan with them.
In order to apply for our construction home loan, you will need to either own your land outright, be refinancing a land loan or have a Contract of Sale for the Land as well as fixed price building contract, which includes all plans and specifications.
For gifted funds, we will require a statutory declaration from the family member providing the gift, including the full name of the person receiving the gift, amount of the gift and confirming the gift is non repayable.
Yes this is a compulsory part of the application process. It is important for both us as a lender and also our customers, as the security value needs to be accurate and correct.
A Target Market Determination is a document which sets out the target market for a financial product, as well as information regarding the distribution of that product. We’re required to have Target Market Determinations for each of our products under the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019. Please contact us if you would like a copy of the Target Market Determination for any of our products.
As of 1 January 2011, by law, any business or individual that is involved in credit activities must either hold an Australian Credit Licence, or be appointed as a credit representative under an ACL. "Credit Activity" under this regulation is defined as activity relating to credit contracts, consumer leases, related mortgage and guarantees and credit services.
ACL's were made law to ensure that everyone who engages in credit activities adheres to industry standards: to create an industry that is more fair and transparent, so that you can be confident and informed when considering what credit is best for you.
When you are considering credit, check that the people you are dealing with have an ACL. Anyone operating without an ACL is operating illegally, and should be reported to the Australia Securities & Investments Commission (ASIC).
loans.com.au operate under the ACL 395219.
To find out more information, or to search for an ACL, refer to the ASIC website.
Managing your home loan FAQs
If you're making Interest Only repayments, then your repayments will be monthly. If you're making Principal and Interest repayments, then you have the option to choose between Weekly, Fortnightly, or Monthly payments. To discuss your repayment options further, please contact our Customer Care team on 13 10 90 (7am-7pm Monday to Friday). We'll be happy to help.
Please call Customer Care on 13 10 90 between 7am to 7pm AEST Monday to Friday to set a fixed amount as chosen by yourself or the minimum loan repayment required.
Yes, please call Customer Care on 13 10 90 between 7am to 7pm Monday to Friday AEST to arrange the payout of the Home Loan. Our Team will provide to you payout figures and guide you through the process.
Yes, as long as you have available funds to redraw from. You can redraw on your variable home loan directly or your 100% offset sub-account.
As nominated by you on your direct debit form returned with the documents pack. Our Customer Care team will also confirm your repayment dates when calling you at loan settlement.
The next monthly repayment due date for your loan account is available using our online finance management tool - Smart Money, by clicking on the "Accounts" menu and selecting the loan account. Keep in mind that this is the monthly due date, and will not consider any weekly or fortnightly direct debits. Alternatively, you can contact our Customer Care team on 13 10 90 (7am-7pm Monday to Friday). We'll be happy to help.
Customers with Principal and Interest accounts can view their next repayment amount using our Smart Money service, by clicking on the "Accounts" menu and selecting the loan account. Viewing your next repayment amount online is not available for Interest Only accounts.
All customers can find out their next repayment amount by contacting our Customer Care on 13 10 90 from 7am to 7pm Monday to Friday. We'll be happy to help.
You can view your current interest rate using our online finance management service, Smart Money, by clicking on the "Accounts" menu and selecting the loan account. Alternatively, you can contact our Customer Care team on 13 10 90 (7am-7pm Monday to Friday). We'll be happy to help.
To access your current interest rate please log into Smart Money. Select the “Accounts” tab, then click on “Account/ BSB Details” (written in small text on the right hand side of the screen, next to the available balance figure). A pop up will appear showing your current interest rate and other repayment details.
You can confirm your current redraw balance using our online finance management tool- Smart Money, by clicking on the "Accounts” menu and selecting the account. If you are making weekly or fortnightly payments, the available redraw balance may include some payments that you need to leave in the account for you monthly repayment due amount. Alternatively, you can contact our Customer Care team on 13 10 90 7am to 7pm AEST Monday to Friday. We'll be happy to help.
The full discharge fees will be shown on your loan agreement. Typically, there will be $300 discharge fee and $250 discharge documentation fee. If you have a fixed rate loan, there may be a fixed rate break cost applicable as well.
Our website provides information on a variety of our products including fixed and variable loans so you can make an informed decision before submitting an online application. Should you have additional questions about our products please call our Sales Team on 13 10 90 AEST 7am to 7pm Monday to Friday.
The equity in your home is the difference between its market value and your remaining home loan balance.
To put it simply, this is the value of what you currently own in your home. For example, the market value of your home is $350,000 and you still owe $200,000. When you subtract the loan balance from your property value, you have equity of $150,000.
The best thing about building up your equity is that it can be accessed through home loan refinancing, allowing you to use your home as security and use these funds for other expenses.
Refinancing can be a way to use the equity in your home to invest in home improvements, or in other real estate. However, keep in mind that increasing your loan will mean an increase in your loan repayments.
Find out more about accessing equity to buy another house.
You will need to supply documents to prove you can afford to repay the loan, including:
PAYG Payers - last two payslips
Self employed - last two years tax returns with an ATO Notice of Assessment
Three months of bank statements
Evidence of any rental income
Six months of statements for your current home loan
Three months of statements for any loans you are consolidating (ie. credit card debt)
A copy of your current Rates Notice and evidence of payment
On our end, we’ll arrange a property valuation, credit assessment and all the paperwork with your current lender.
Get more information on what documents you need to refinance your home loan.
First Home Buyers FAQs
You can use the First Home Owners Grant (FHOG) as part of your deposit, however, if you are borrowing more than 80% of the value of the property, mortgage insurers require that you have saved at least 5% of the purchase price as genuine savings.
You are eligible if you are an Australian citizen or permanent resident, building your first home in Australia, with the intention of living in the property as your principal place of residence within 12 months of settlement and for at least 6 months. It is important to refer to each state website for the grant eligibility as the state conditions vary.
We can lodge your first home owner's application on your behalf so that the grant is available for you at settlement. You must complete the state specific application form, and provide the original application and required documentation before this can be lodged.
Home Loan Repayments FAQs
Yes we have calculators available that you can use on our website. Please click the Calculators button located in the top menu of the website or you may choose to go directly via www.loans.com.au/calculators/
A monthly principal and interest payment is calculated on the number of years, the interest rate and the loan limit (i.e. the loan balance plus any surplus funds available for redraw).
Each monthly principal and interest repayment is calculated to cover the interest amount charged and the remainder will reduce the principal/balance of the loan.
Fortnightly and weekly loan repayments are based half or quarter of the monthly repayment amount.
Taking out a home loan is an important step in the home buying process. You need to consider various factors that will affect the overall cost of your mortgage. Factors such as the interest rate, loan amount, term of the loan, repayment schedule, and the repayment type.
An online mortgage calculator can help you make an informed decision by comparing various home loan options, understand your financial capabilities and liabilities, and simplify the process of calculating your mortgage.