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Reduce Home Loans

Reduce Home Loans

4.2 from 1,000 reviews · View Statistics
Listing monitored by Reduce Home Loans

Reviews

4.5
43 reviews
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Abhinav
AbhinavGreater Melbourne (Metropolitan), VIC

Perfect service every time !

published

Using them for last 5 years.. got multiple refinances and home loans done... always fast turnaround and no issues... fees are lowest and rates are unbeatable!! Would highly recommend to anyone.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
4/5
Loan TypeFixed Rate
Loan Start DateApril 2021
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

Travis Clydesdale
Travis ClydesdaleSouth West, WA

Great service & fast turnaround

published

We were operating on a very tight timeline but were extremely fortunate to receive amazing support from Ethan from start to finish. All communications were very responsive, clear and professional at every step of the process. Apart from the best in market interest rates, the quality of service has been first rate.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Loan TypeVariable Rate
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

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0.0
(1,234)

Perfect customer service and competitive rates!

published

Extremely happy with our customer service and home loan with Reduce. Extremely competitive rate and nothing but the best customer service from start to finish. Highly recommend reduce home loans!

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Loan TypeVariable Rate
Loan Start DateJune 2021
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

The rate is absolutely incredible!

published

The rate is incredible. The customer service was polite and professional. There were no unexpected costs, everything went ahead as expected. We are going to refinance our investment property with them!

Transparency
4/5
Customer Service
4/5
Application Process
4/5
Timeliness
3/5
Loan TypeVariable Rate
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

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Jasmine S.
Jasmine S.Greater Melbourne (Metropolitan), VIC
  • 5 reviews
  • 1 like

Home loan pre-approval

published

Recently obtained a pre-approval with Reduce. Leon was a pleasure to deal with and was very efficient, helpful and responsive. With such a great interest rate, I would definitely recommend Reduce to my friends and family

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forSecond Home
Betty
BettyGreater Melbourne (Metropolitan), VIC

Great service

published

Great service ans information provided in a timely manner during the process. We got good communication about how the application was progressing and had no issues to obtain the loan

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Loan TypeVariable Rate
Loan Start DateFebruary 2021
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

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AVOID at all costs - Pre-Approval doesn't mean anything either - Constant stress and lost dream home

published
Transparency
1/5
Customer Service
1/5
Application Process
1/5
Timeliness
1/5
Online Tools
1/5
Incentivised Review No
Loan TypeFixed Rate
Loan used forSecond Home

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Craig Murphy
Craig MurphyGreater Melbourne (Metropolitan), VIC

Great rates, quick and easy process

published

Reduce offered exactly what we were after - a highly competitive (if not the best available) rate and a simple, no frills loan product. Bryce was extremely helpful explaining our options and prompt to reply to any questions we had. The fee structure was straightforward, and the entirely online process easy to navigate.

Transparency
5/5
Customer Service
5/5
Application Process
4/5
Timeliness
5/5
Online Tools
4/5
Loan TypeVariable Rate
Loan Start DateJanuary 2021
Loan used forSecond Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Other Home Loans

 
 

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Amy B.
Amy B.Perth, WA
  • 2 reviews
  • 2 likes

Go with RHL

published

Jacqueline from reduce home loans has been amazing through the process of buying our home in Jan 2021. Always following up and explaining every process along the way promptly. This is the second time we have purchased with RHL and the service and interest rates are 5 star. Would definitely recommend to anyone looking at purchasing a house to give RHL a go.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Loan TypeVariable Rate
Loan Start DateJanuary 2021
Loan used forSecond Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Home Loans

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Cheapest Variable Rate Available

published

Reduce Homes Loans and Noel Cosca and the team very great. Process was easy and settlement occurred on time. Highly recommended and have no problems in referring anyone who wants a cheap interest rate and an easy process to achieve this objective.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Incentivised Review No
Loan Start DateJanuary 2021
Loan used forSecond Home
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Rowena
Rowena Greater Melbourne (Metropolitan), VIC
  • 2 reviews
  • Verified

Happy with service

published

Great rate and timely in settlement. Happy with service.
Love the new digital way of completing application and identification check, make the whole process quicker and easier.
Highly recommended for the low rate and digital process.

Transparency
4/5
Customer Service
4/5
Application Process
3/5
Timeliness
4/5
Online Tools
4/5
Loan TypeFixed Rate
Loan used forSecond Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Other Home Loans

 
 

0.0
(1,234)
Navil
Navil
  • 4 reviews
  • 1 like

Good service, fast, responsive, knowledgable

published

David was helpful and easy to deal with, responsive and answered questions promptly.
I had a few challenges with meeting the approval criteria, and David helped me identify the simplest and easiest way to meet those requirements, ultimately allowing me to settle without having to endure any extra costs or delays.
Thank you.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Loan TypeVariable Rate
Loan Start DateSeptember 2020
Loan used forSecond Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Home Loans

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Carla
Carla
  • 2 reviews
  • 2 likes
  • Verified

Chasing simplicity and a refined home loan? Reduce Home Loans is where you need to start.

published

The call centre was amazing, so quick to respond to my queries and if they didn't know the answer they contacted me and emailed me with the answer. Lindsay managed my case and saw the whole process through from end to end, she always provided an answer within the timeframe that she quoted. In the end I came out with a no fuss-low rate loan, no bank non-sense just a good honest product. No one needs the fluff that banks carry on with, if you're chasing simplicity and a refined home loan - Reduce Home Loans is where you need to start.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Loan TypeVariable Rate
Loan Start DateJune 2020
Loan used forSecond Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

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Newton K.
Newton K.Sydney, NSW

Best packaged fixed home loan on the market

published

I engaged Reduce home loans because they had the best fixed package home loan for my requirements. I chose the 3 year fixed home loan 2.19%. 100% offset and up to $20k additional repayments per annum.
What more could you want during the Covid-19 economy?

Transparency
5/5
Customer Service
4/5
Application Process
3/5
Timeliness
3/5
Loan TypeFixed Rate
Loan Start DateJuly 2020
Loan used forSecond Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Best customer service

published
Customer Service
4/5
Application Process
5/5
Timeliness
5/5
Incentivised Review No
Loan TypeFixed Rate
Loan Start DateJune 2020
Loan used forSecond Home
Page 1 of 2

Questions & Answers

Aussiebloke34
Aussiebloke34asked

Why are the fees so huge and why are so many members accusing you of bait and switch, where months after they have their loans established they get a letter advising their interest rates are going up?

No answers
Alex D
Alex Dasked

Some of the comments are quite serious and places doubts on whether Reduce can then be trusted or not if they sign you up on one rate, only to increase it in a few months. Has many people experienced it?

Also people are saying their exit fees are very high. How high are they compared to others?

Thanks.

3 answers
Edson S.
Edson S.

Hi Alex, I’m on 3 years fixed rate. I’m not sure how much are the exit fees but I don’t think it’s higher than my precious bank.

Aussiebloke34
Aussiebloke34

I was told exit fees were made illegal from 2011?

bmarshall
bmarshall

$895!
Most big banks average $300!
My mortgage will be discharged in 3 weeks. Yey.

Simmo
Simmoasked

I am considering refinancing soon with reduce and I was wondering if there rates go up soon after changing over. I was convinced a few years ago by a broker to refinance with AFG and 2 days after my loan changed over the rate went up quite a bit and I would have been better off staying with Peoples choice. I don't want to waste my time changing if this will happen again.

3 answers
Debstar
Debstar

I am an existing customer my rate was 2.42% it will soon reduce to 2.27%. I have not experienced any issues with rates, although I have noticed they are now advertising at 1.77% so do not reward loyalty. The process to refinance is beyond slow, frustrating and you need to jump through hoops expect it to be even months before it is finalised. So you need to weight that up.

ALS
ALS

I am also an existing customer at current rate of 3.94% IO Investor loan when current advertised is 3.19% for the same product. Contacted my manager who said that no improvements to rate are possible. I'm now looking at refinance for 2 loan products elsewhere closer to the advertised Reduce interest rate. No reward once you are signed up.

bmarshall
bmarshall

They don’t reward loyalty. It’s disgusting they advertise new loans 0.5% lower than loyal customers. Also the discharge fees are excessive!

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