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Reduce Home Loans

Reduce Home Loans

4.3 from 545 reviews

Excellent rates, and easy to deal with

The team have looked after a number of loans for me. Always easy to deal with, and provide great options for finance at rates well below the advertised rates. The mortgage process requires a bit of paperwork but the interest savings make it worth while.

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Loan TypeVariable Rate
Loan used for:Second Home

No hassle and better rates

The Reduce Home Loans and Mezy teams have been really helpful, any queries or concerns I've had they've been able to answer for me and it's great being able to use the online chat feature to get in touch. Since refinancing I'm also now enjoying both a way better rate and a much more personalised experience than my previous bank could offer me.

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Loan TypeVariable Rate
Loan Start DateMay 2019
Loan used for:Refinancing

Great rates, very contactable customer service

The interest rates are very competitive. Fees are all clearly stated in product brochures. Mortgage process is also complicated but it helps that the people at Reduce Home Loans respond quickly and are easy to contact.

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Customer Service
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Timeliness
Loan TypeVariable Rate
Loan used for:Second Home

Low interest rate

Switching over was relatively easy, rate is great however some more work needs to be done on the finance portal by adding extra features. Also, everyday banking needs improvement to bring it inline with other institutions

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Loan TypeVariable Rate
Loan Start DateMay 2019
Loan used for:Refinancing

Low interest rate, good product, friendly but very busy staff.

We switched for the low interest rate, which has been great for us. Staff were friendly and professional. Did not always answer emails, but the interest rate made up for that.

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Loan TypeVariable Rate

Very happy customer

Excellent customer service we are with reduce home loan for last couple of years no we didn't had any surprises as far as cost is concerned we are 100 % satisfied client

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Loan TypeVariable Rate

I went with another lender

I contacted Reduce Home Loans in regards to an investment loan. I received a phone call within 2 business days and I asked if they could call back the next day as it was more convenient. They said it was no problem and that they would email some information through and ring the next day. I received no phone call the next day. I tried emailing them and got no response. I phoned the direct extension, no reply, I phone the mobile number, again, no reply. I then rang Reduce again on there 1300 REDUCE number and got a different operator who seemed to be out to lunch or in traffic somewhere. We had a preliminary chat about what I wanted to do and he said he would ring back in half and hour. I never got a call. I got a loan with a bank where I could sit down and have a conversation with some one, and guess what they phone back when I called them...

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Loan used for:Investment Property

Great Rates and service

The rate savings are well worth the move. There was timely communication and service is friendly.
Highly recommend. They answered all the questions I had and were very patient as well.

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Loan TypeVariable Rate
Loan Start DateApril 2019
Loan used for:Investment Property

It’s great, They are very helpful.

Customer service is great. I find everyone very friendly and helpful.
I’m very happy with the rate I give it a 9 out of 10.
Everything is explained clearly and there is no hidden costs.
I would definitely recommend Reduce Home Loans.

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Customer Service
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Loan TypeVariable Rate
Loan used for:Refinancing

Great introductory rates, but they dont last long! Very dishonest

I went with these guys because of the great reviews online, however i soon learned that the deal was too good to be true. Within months of getting the loan, they increased my interest rate by 0.2%, they did this several more times till i went from 3.79% (investor, interest only loan) in May 2017, to where i am now which is paying 4.54%!! I was promised by Gary the broker that the rates i would be getting were those that were shown on the website, but this was not the case. I am now in the process of moving my loans elsewhere, hopefully to a more honest bank.

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Loan TypeVariable Rate
Loan Start DateMay 2017
Loan used for:Investment Property

Good experience overall

I chose to go with Reduce Home Loans because of the very competitive interest rates they offered. The loan officer I dealt with was really friendly and helpful. Pretty frustrated with the very drawn-out application process, but that might be pretty standard for all financial institutions these days.


Couldn't be happier

Jacqueline was extremely professional and helpful in assisting me through the application process. RHL gives a great rate that so far hasn't been beaten by any other bank. I strongly recommend Reduce Home loans for the fantastic service and product.

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Customer Service
Loan TypeVariable Rate

Great Loan Great Service

Really happy switching from a top 4 bank to Reduce Home Loans. My consultant David Easey provided great service and there was no problem with the transfer. Reduce Home Loans will save me thousands a year.

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Loan Start DateMay 2019
Loan used for:Refinancing

Do it now! You won't find a cheaper rate!

Rhyse was extremely helpful in all his communications. He guided us through the application process and now we are saving close to $1000/month in interest payments.

It has been 3 months since we switched from one of the big 4 banks and it is all so simple. Everything is online, I set up an automatic payment each month and I can log in anytime to check my home loan balance drop.

At first I was hesitant to switch because the application paperwork was very daunting. Just follow the instructions EXACTLY and you should be fine. Also, I was loyal to my big 4 bank because I am a shareholder. I had to threaten to refinance so many times to get a better rate. I finally got sick of the out of cycle interest rate increases and being fed the line it was due to increased lending costs.

They do need to be more transparent about their fees. I don't even remember how much they were...I just wrote it off because the savings far outweighs the cost. We have been using the savings to pay off more than the minimum amount each month and we have been booking holidays up and down the coast.

Nothing to think about. Switch now!

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Loan TypeVariable Rate
Loan Start DateMarch 2019
Loan used for:Refinancing

Cheap rates!

Not bad service for an online lending agency, a lot of documents were required and a long process but hey it’s cheap and that’s what counts when it’s all set up.

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Loan TypeVariable Rate
Loan Start DateMarch 2019
Loan used for:Investment Property

Great rate home loans

The service was great and very helpful , the rate was even better , I strongly recomend Reduced Home Loans , If you're rate doesn't start with a 3 you're paying too much. Do the switch now.

Customer Service
Loan TypeVariable Rate

Great Home Loan Rates

They had the best home loan rates when i refinanced with them and they still have the best rates 3 months later. They do have a room for improvement in the customer service area though, in particular giving a more detail breakdown of ALL fees you are likely to encounter.

Transparency
Customer Service
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Timeliness
Loan TypeVariable Rate
Loan Start DateMarch 2019
Loan used for:Refinancing

Reduce home loans

Brilliant interest rate. Staff go above and beyond the call of duty to set the loan up. Great customer service. After sales good too. Fantastic clear communication. Low interest rate

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Loan TypeVariable Rate

Perfect rates in the market and very good services.

They offer very competitive products with a very good rate in the market. Their customer service also is very good and they are always available to help customers. I really recommend them.

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Customer Service
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Loan TypeVariable Rate
Loan Start DateFebruary 2019
Loan used for:Refinancing

Saved so much money

Same person to deal with for our whole loan.
No extra costs. We didn't have to pay anything apart from valuation fee and we got it back when our loan came through.
Rate is amazing!!! Best in the market.
I hope the recent drop in rates from the reserve bank will be past on.

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Customer Service
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Loan TypeVariable Rate
Loan used for:Refinancing

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Questions & Answers

When will the 0.25% reduction in interest rate take effect (for variable interest rates)?
No answers

General question to all. True Reduce home loan is very competitive in market however need to know any shock after becoming customer. Any unknown rate increases then market movements? Any unadvertised fees charges then published?
3 answers
No nasty surprises. They rely on customer satisfaction for future business. Most customers changed from another financier to them and they know that can happen again if they don’t keep customers happy.Ahh not really Paul. Signed up with them about a year ago 2 weeks after they put the rates up .20% while still advertising the lower rate. Now 2 weeks since rba dropped the cash rate no word of any corresponding rate cut from them. They're your best mates when you're new business but afterwards they don't want to know you. Gary the broker is a next level fair weather friend also. Tried to discuss the broken promises but never returns emails or calls. You'll have a better chance getting an audience with the Queen. Avoid!Ohh really.

We are already extended twice our coolingoff period and still waiting on final aproval right now. The deadline is up on Thursday 18 of April 2019 5pm Sydney time. Beside that reduce homeloan is explaining it they would be under the pump with application. I feel it ends up in a big mess for us losing our bond plus the valuation cost beeing charged. Could some one from the higher management look into this please! My Reduce Home Loans number is 47780 Otherwise contact me direct under the number in my file
1 answer
All good they gave us final approval 3 hour just before the end of the end of our cooling off period. Thank you guys finally i can sleep again. Keep up the hard work in particular like our aproval before the easter holidays