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Reduce Home Loans

Reduce Home Loans

4.2 from 1,007 reviews · View Statistics
Listing monitored by Reduce Home Loans

Reviews

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Christian Lim
Christian LimGreater Melbourne (Metropolitan), VIC

Best Interest Rate I could find together with an offset account. Excellent service. No ongoing fees.

published

Reduce Home Loans have been great from the beginning. Nick our lending manager was excellent. I was able to get the best interest rate that I could find including an offset account.
The paper work took a bit of time to get through but it's paid off since I've settled my loan. I've been able to call for help whenever I needed it. There were a few steps to get through but I won't need to go through this refinance process for a while now that I have a very low rate and no ongoing fees and an offset account. If you want the lowest rate in the market with or without an offset account give these guys a call and then see how they compare to other banks. You may end up going with these guys just like I did.
Christian

Transparency
5/5
Customer Service
5/5
Application Process
4/5
Timeliness
4/5
Online Tools
4/5
Loan TypeVariable Rate
Loan Start DateAugust 2021
Loan used forRefinancing
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The reviewer stated that an incentive was offered for this review

Rob B.
Rob B.South East Queensland, QLD

They have unbeatable home loan products

published

They have great home loans, I would have given them 5 stars if they were a bit quicker, but now that we've refinanced through them we're very happy. So I still gave them 5 stars despite the timeleness as I would highly recommend.

Transparency
4/5
Customer Service
4/5
Application Process
5/5
Timeliness
3/5
Loan TypeVariable Rate
Loan Start DateMarch 2021
Loan used forRefinancing
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The reviewer stated that an incentive was offered for this review

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Brett Goldspink
Brett GoldspinkIllawarra, NSW

Great rates and very helpful !

published

David and the reduce home loans team helped us get a great rate and easy loan set up.
We highly recommend Reduce Home Loans to anyone thinking of refinancing or setting up a new loan

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

Terry
TerryIllawarra, NSW

REDUCE HOME LOANS ARE NO 1

published

My wife and i are extreemly satisfied with all aspects of service with Reduce Home Loans.
They listen, are readily contactable and you speak to a real person.
Would have no issues in recommending them for any persons home loan requirements.
And their home loan rates are great 100% mortgage offset account and easy refinancing.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Loan TypeVariable Rate
Loan Start DateJanuary 2020
Loan used forRefinancing
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The reviewer stated that an incentive was offered for this review

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Kean Smith
Kean SmithHunter Region, NSW

Great Rate, No Fuss, Would Recommend

published

Was looking for a low rate, no fee home loan, looked around for quite a while before choosing to refinance with Reduce. So glad we did, Bryce was awesome to deal with and we got our low rate, no fuss home loan. Would recommend !!

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forRefinancing

Excellent Service with Unbeatable Incredible Lowest Rates.

published

This is our second time dealing with Reduce Home Loan in two years period of time and we were always dealing with Nick Freney and his service and the products he offered us are beyond incredible. We can't thank him enough. I personally am so grateful for this man and so much gratitude for the hard work he puts in. thank you!

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forRefinancing
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Ross
RossGreater Melbourne (Outer), VIC
  • 2 reviews

Excellent Service with the best interest rates

published

If you are looking to refinance or a new loan, please check out Reduce Home Loans. Their service was excellent (thanks David). I was kept upto date with the progression of the loan. Internet banking is easy to use and I managed to get one of the best interest rates going around which others couldn't match. I will definitely use again in the future. Thanks Reduce Home Loans for saving me money which will help me pay off my loan a lot sooner.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
4/5
Online Tools
5/5
Loan TypeVariable Rate
Loan Start DateJuly 2021
Loan used forRefinancing
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The reviewer stated that an incentive was offered for this review

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Cheryl
Cheryl
  • 2 reviews

Great service and rates

published
Transparency
5/5
Customer Service
5/5
Application Process
4/5
Timeliness
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateSeptember 2019
Loan used forRefinancing

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Angie Y.
Angie Y.Metropolitan Adelaide, SA

Would definitely recommend!

published

My husband and I recently refinanced with Reduce Home Loans and it was a fantastic process end to end! Bryce was extremely responsive, helped us every step of the way and made what can sometimes be a bit of a stressful time completely smooth sailing. The turnaround was also really quick! Would definitely recommend.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Loan TypeVariable Rate
Loan Start DateJuly 2021
Loan used forRefinancing
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The reviewer stated that an incentive was offered for this review

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Mario T.
Mario T.Sydney, NSW
  • Verified

Great customer serice

published

Very competitive rate.The mortgage broker Dane was very helpful, responsive and made the whole process very easy. The initial contact was through Zoom which assured me it was a fair dinkum company.

Transparency
5/5
Customer Service
5/5
Application Process
4/5
Timeliness
4/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forRefinancing
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Heather G.
Heather G.Sydney Surrounds, NSW

Excellent Rate Excellent Customer Service

published

Really happy with the ease of the application process and the great rapport built up with Jacqueline who stayed in touch throughout. Great rate. Couldn’t be happier. Thank you Reduce

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Loan TypeVariable Rate
Loan Start DateMarch 2021
Loan used forRefinancing
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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Jimmy
JimmySouth East Queensland, QLD
  • 17 reviews
  • 6 likes
  • Verified

Great value and easy to use website

published

I refinanced to reduce homeloan from my previous lender. Much better interest rate and great functional website.

Personally really like the ability to pay BPAY directly from the loan account. Makes scheduling bill payments really easy, and means I can keep interest payments down by having my salary going into the loan.

Suggestion for website future development would be the inclusion of two factor authentication for payments to new bank accounts.

Transparency
5/5
Customer Service
5/5
Application Process
4/5
Timeliness
3/5
Online Tools
4/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateMarch 2021
Loan used forRefinancing
Home Loans

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Shan
ShanVictoria
  • 2 reviews
  • 2 likes

Might take a bit of time to assess and gather/ complete the paperwork but was pretty straight forward and easy.

published

If you have equity in your home loan then I would certainly recommend. The process is pretty straight forward and it was a pleasure working with Gary. My rate was competitive to begin with and managed to secure an even better rate which was great.

Transparency
5/5
Customer Service
5/5
Application Process
4/5
Timeliness
4/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateJuly 2020
Loan used forRefinancing
Get quotes
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Hayles
Hayles
  • 2 reviews

Best interest rates around!

published

We recently refinanced our loans with Reduce Home Loans. Our current bank couldn’t come close to matching their rates. No ongoing fees, no establishment fees. There is an exit fee however, so I recommend you ask upfront what that will be (different packages have differing fees). Easy redraw process, good online platform. Our interest rates are now 1.99% for our home loan and 2.29% for our investment loan (both P&I variable). We are happy we made the switch, even if the loan application process can be quite lengthy.

Loan TypeVariable Rate
Loan used forRefinancing
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The reviewer stated that an incentive was offered for this review

Stephen K
Stephen K
  • 3 reviews
  • 2 likes

Incredibly Low Rate & Excellent Customer Service

published

Very happy with Reduce Home Loans. Not only was the rate exceptionally low but Bryce was extremely helpful supporting us during the application process. Communication was seamless throughout the process too. Highly recommend.

Application Process
5/5
Timeliness
5/5
Loan TypeVariable Rate
Loan used forRefinancing
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Page 1 of 7

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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