lending institute , has anyone heard of them?

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loz1964
Member
@loz1964
Join Date: 2008
Post Count: 1
June 3, 2008 - 8:18 am
Hi there,
I signed up with the Lending Institute,almost 12 months ago,paid for what they call 'Monitoring',which I was not happy about, as I had never heard of anyone having to pay thousands for monitoring.
The lady I spoke to had a great gift of the gab,so to speak,and hence I signed up, as I was told how much better it would be as I would pay te loan off much quicker.
She also the amount wouldn't be anything like the $5,000 I paid,I found out paid the $5,000 when I was sent a breakdown of the money that wentout to lawyers etc…
I have had one visit from a moniter???if that's what you call it,and the other time was to bring a folder,and have not seen or heard from her since.
I tried to email her this afternoon and the email came back to me,also the website isn't right either.
In hindsight I wouldn't have signed but am willing to give it a bit more time to see how things pan out,at the moment things are looking ok,but we will see.
Has anyone tried to contact them overthe net??
Living in hope…..
L
seank
Member
@seank
Join Date: 2006
Post Count: 64
June 3, 2008 - 8:53 am
Mary Wilson wrote:
Hi Guys.
Sorry to burst the bubble of negativity, but i signed up with Lending Institute six months ago, and it has changed my life. I know that sites like this can be great for advertising, and I am sure that Trent is a great broker, but i changed my loan from a CBA 100% offsett to a Lending Institute loan (And belive be there is a BIG difference!), there was an initial fee of just under $7,000 that I had doubts about also but there monitoring program has become a part of the way i look at my money and my mortgage and my consultant is a like a family member now. Most importantly we have reduced more off our loan then ever before.
Best of Luck with it all!
Mary W
7k set-up fees and a higher interest rate? sounds real SUS to me. BEWARE!!
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
June 3, 2008 - 11:46 am
Oh seank you sinic you ………. could be a bargain you will never now.
Richard Taylor | Australia's leading private lender
seank
Member
@seank
Join Date: 2006
Post Count: 64
June 4, 2008 - 8:32 am
Qlds007 wrote:
Oh seank you sinic you ………. could be a bargain you will never now.
Yes Richard, I had considered it , but then thought to achieve the same results in quicker time, I'd be better off flushing my life savings down the toilet.