Long loading times between zones in MP & feeling of high latency

I’m in Syd AU playing multiplayer with a couple of mates.

We noticed that there are insane loading times when trying to phase into new zones, like 10+ seconds loading time, and the more people in our party, the longer the load times are.

We also noticed that there is actually high latency although in game, its quoting we are only 10ms. I can tell my latency is crazy because as a sorc mage, I teleport and after about 2 seconds I get rubber banded back to where I was before, as well as a lot of times when I use my AOE abilities, they don’t happen on my character, but rather a couple of cms behind me (where I was about 2 seconds before) and I get rubber banded back to that spot.