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Using a mutual bank for home loans?

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miranda | 09 Sep 2015, 05:08 PM Agree 1
Hi guys,

Currently looking to buy my first home within one of Adelaide's suburbs and looking at giving Beyond Bank a try, specifically their basic variable home loan.
Seems quite good with low yearly costs ($132) and a variable rate of 4.64%

Would love to hear from anyone who has dealt with mutual banks before and how their experience was?
Doing so research on them now, a big attraction for me is that they're customer owned unlike the big 4 in Australia.

Cheers,
Miranda
  • Katt | 30 Sep 2017, 11:15 PM Agree 0
    Hi!
    Been with the bank for many years. The service was great to start with but has dropped off considerably. Once I could sort a problem out in minutes. Now it takes days. While it is nice the offices are being renovated. It will not improve the one to one service. I do not understand how a document handed over the counter in the morning is not processed until the next business day and then it being up to 24 hours after that for money to be available. I'm my case it is now 5 days without money. Aren't there any options to tie customers over when there is going to be a long delay?
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