Household Capital Pty Ltd Reviews 

Stay the hell away from this company. My mum has dementia so unfortunately she now has to go into a nursing home. Tried to get a reverse mortgage from these idiots and was accused of trying to take advantage of my 96 year old mum. Mum couldn't understand what the woman that we spoke to so when she handed the phone to me, her POA, this rude woman accused me of taking advantage of her situation. Ended up taking a mortgage out on her house with a bank so that mum could purchase a unit in the nursing home as she didn't want to be in a small room. No use making a complaint against her and the company as the complaints authority, AFCA, are in the pockets of these knobs. Again stay away from these idiots and just go through a genuine bank. Thanks to Westpac for you understanding of the situation my mum was in and the professional lenders of your business.

We were given a calendly time one week ahead of our first attempt at contact for a telephone call with a sales person called Ryan. It never came. No explanation. No word at all. Not an efficient company. Oliver Sellars Perth WA

They required bank statements and said the easiest way was to give them complete logon details to the accounts and they would extract the statements.
Who in there right mind would give a third party full access to you bank accounts.
It has to be a scam

Hate the ad. Hate the company. Farcical. Firstly your property has to be worth over $600k. Now whilst that’s possible in Oz in the main centres it’s not there for the smaller areas yet and often it is those who need the extra $$$$. So they start off not being fully transparent anyway. Secondly this garbage about being the wealthiest in the world is utterly incorrect. Last I checked it was a few European countries in top and the USA. I’ve wasted a load of time checking these facts with others and through research and speaking to them and I won’t be recommending them to any of my loved ones and I’d seriously thought about it.

This process has been a pain in the butt, I gave them everything that has been required of me. Like so many other theyasked for the same documents a couple of times. In the beginning I was told the whole process would take about a couple of months. That was in September. We are now in Feb. I have been told my application has been approved. I need some home renovations done and to pay legal fees before my sister steals yet another $300000 and said this was urgent. As this is. I have been approved so what is the hold up in putting the money into my account. I sent them an email asking for a rough time frame. No response.

We just went past the 8-week date since we started the process of applying. Firstly, we applied online, which we found was a fairly easy process & downloaded the relevant documents & information. Then I had to ring myself to arrange the follow up interview over the phone, only to find there had been a clitch in their system & some of the information was missing. So, after giving the information again, 2 weeks later I receive an email requesting the same info that I'd already given, this situation continued for several weeks. Finally, the last crunch for us came when we finally received our documents to review & sign. Unfortunately, we couldn't sign the documents because we were instructed, they had to be taken to a solicitor to review & advise us at a personal cost of $500. Now I totally understand that it's a loan document & its purpose. My objection was, why was this not mentioned at the start of the loan application process and left until the final hurdle. The whole purpose of the loan was because we weren't financially viable in the first place. In the end we declined our application & found the whole process time consuming and very frustrating.

Difficult application process, with Household requesting documents several times after already acknowledging receipt. Eventually the loan was settled, for the wrong interest rate and wrong repayments. When I queried this they started to harass me by phone and email.

Total waste of time. The TV presentation is providing false information. The representative (Name withheld) was very rude and obnoxious, had hung up on me when I asked for documentation and the copy of application form. He wanted quotes for every everything what we were going to use the funds for and no actual funds were to be supplied unless Household capital paid the quotes. Wanted a first mortgage over our property, and charge us $1900 before proceeding. A follow up, Beware!

Complete waste of time and energy. We wasted five weeks liaising with this mob. They are the most pedantic and incompetent organization we have ever encountered. For four weeks we gave them everything they requested. No less than seven times they asked us for documents that they had already received. The left arm doesn't know what the right one is doing. Within a week they had our home valued and we were completely transparent with them all along and they declined our application on the fifth week. The whole process is wrong and misleading. No follow up on the reasons why we were declined by their "credit assessors" !

Don't trust these guys. Their website and advertising is misleading. Firstly, you have to pay out your existing mortgage to be eligible - at their rates - which is probably at least 3% higher than the going rate - given - you don't have to make regular repayments - but they don't disclose that you have to repay your existing mortgage. Also, if you are 60 you can only borrow 20% of the value of your property even if your existing mortgage is higher than this. Apparently increases year on year based on age - again not disclosed. Would never have bothered with even an enquiry had this been part of their 'initial review process online'. DON'T TRUST THEM.

So- I haven’t yet signed up but I’m most impressed with my initial conversation with one of their representatives ( Kate) who has patiently and in great detail explained the whole process.
Our decision will be made very easy…..

Please do not get a reverse mortgage.it is the worst finance decision anyone could ever make. It impacts your aged care room if you ever need to go in to a home, not to mention if you live for 20 years , the equity in your home will be very low or even none.

HOUSEHOLD CAPITAL PTY LTD won't help me out as I'm on a Disability Support Pension I only need a small loan to leave current lender and finalise my renovations but they dont think I'm worthy of their assistance

We are a reasonably fit couple in our eighties and down sized to a lovely small house and quite comfortable but my wife uses a walker and had difficulty getting in to our old car.
With the help of Household Capital staff Traci who suggested a small reverse mortgage to purchase a new car and have a back up pension of $1000 per fortnight.
We also have a drawdown facility to renovate our bathroom and any other expenses. Ryan was helpful with quick reply to emails.
Thanks

Raechal and everyone else from the team that I have dealt with have been very professional. My application was promptly organised, and easily understood. Thank you all so much.

Natalie Savic & the Applications team went above & beyond to get us over the line for a quicker than usual settlement (due to dates being moved forward with our circumstances).
Natalie explained everything easily & always kept us informed. It was easy to upload information also.

Initially called H/C August Kate returned call a day later.
From that day within 2 months everything was set up & running was given the line of credit I requested ,but only required a portion of that didn't want to pay interest on my unused money.
I am able to draw down at any time I need more, transactions normally same day transfer to my nominate bank account.
Fantastic product for retirees 10/10

Without Esther supporting me throughout my entire horrible family law process my sons and I would basically have nowhere to call home and the house I personally paid cash for years ago, gone. Her sincere understanding and the way she described and followed through with this reverse mortgage solution saved us.
Thankyou Esther and Household Capital.

All personnel are pleasant but an extremely lengthy process leaves much to be desired. Just on six months trying to establish a reverse mortgage and still no result. I need a vehicle and driveway repairs and so far have achieved neither.
Sorry to say that I am not impressed

Esther Angrisano, You have been an amazing person that came into my life by a reference from one of your past customers who you, too, gave a change to her life.
Esther with the so gentle respectful approach you so professionally give to your clients I can see with the way your attention to my cause has now given me a great retirement for years to come.
You certainly know how to give great results with so much care to your client.