Lendi

Complaints

We applied for a home loan refinance and an investment property loan 5months ago. The broker we had was Bedour sadafi in the beginning everything went well, finance wasn’t an issue so she proceeded with the loans we requested one was through HSBC and the investment was ING. I thought it was strange she seeked 2 different banks instead of just using the one for both, she insisted that the rates were better hence why the different banks. So this is where it goes down hill the investment loan went through first pre approval done, whilst the other couldn’t be lodged until 4-5 weeks later which I thought was strange apparently a backlog so we waited and waited no communication I had to chase the broker to find out what was happening it finally got lodged and took ages to get an update on the progress of that loan finally in November we got an answer we were not able to borrow the amount we could originally service, I questioned this and said why won’t they fully service the amount requested? She said didn’t know they wouldn’t tell her (which I know is lie) she later came back and said it was due to my husbands work hours to which my husband provided a letter of his wages and employment and still no. We know It’s because of the investment loan we had taken out. But the broker wasn’t honest. the whole point of refinancing was to get a better rate/loan we were seeking and then what ever we could borrow after that was to be for the investment property. The broker then went with another lender Macquarie the same thing however now it’s due to an issue with my husbands income he needs to earn more money now to refinance our request so we’ve held off until my husband got his pay rise which is this month then we were going to proceed with the loan submission. As we were concerned about the constant credit inquiries. Basically lack of communication and her attitude at times has been unprofessional and condescending. It was very evident from the broker after the loans were not going to plan. I even sent her an email expressing my dissatisfaction of the service and did not appreciate her rude behaviour.( I have the email) Since then I requested information regarding our investment loan pre approval on the 19th Dec. It was expiring in jan 10 and how to go about getting it extended she said let it expire we don’t want to have too many credit inquiries and it’s not an issue getting an extension so I emailed her today stating should we just wait as she suggested, as we only have 5 days remaining on the pre approval she wrote back and said we have to reevaluate your financial position as the interest rates have gone up. I said why couldn’t have told us this information when I first enquired about the extension on the 19th Dec? She emailed back and said she’s terminating the relationship because she couldn’t handle the question I asked apparently I’m rude. Now Because of her our credit is tarnished due to her incompetence and we are with out any loans. I’m extremely disappointed with lendi and Bedour sadafi she shouldn’t be a broker and I will never recommend lendi to anyone if this is the kind of people you have representing your brand.

I started the process of refinancing about 6-8 weeks before my fixed rate ended. I worked with a broker at Lendi who made two applications for me. The 1st failed as the lender didn’t finance apartments. The 2nd failed because of my HECS debt. Then she gave up after that. <br />Seemed like she lacked a huge amount of experience but held herself out to be knowledgable. Her communication was also unsatisfactory.