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Reduce Home Loans
Cheapest Variable Rate Available
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.
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Rowena Greater Melbourne (Metropolitan), VIC
- Verified customer
Happy with service
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.
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Navil
- 3 reviews
- 1 like
Good service, fast, responsive, knowledgable
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.
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Carla
- 2 reviews
- 2 likes
- Verified customer
Chasing simplicity and a refined home loan? Reduce Home Loans is where you need to start.
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.
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Newton K.Sydney, NSW
Best packaged fixed home loan on the market
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?
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Best customer service
Lisa Whitla was extremely supportive throughout our borrowing journey. We have applied for land and constrruction initially and I have asked 100 questions about it. Due to COVID-19 our plans changed due to building and construction taking longer than normal in that period and we switched to another property halfway through and I had another 100 questions about that purchase. I have no words to say Thank you- (1000 times) to Lisa Whitla who was so much suportive, quick responsive and always greeted with me a welcoming tone over the phone. She h...Read more
as explained all steps, costs, process and finalisation of our loan application. She was available both over the phone and email. Reduce home loans also offers you much competitive rates as compared to another lenders and provide same quality service. If I will borrow in future, I will use Reduce Home loans and Lisa Whitla as my broker. Your speedy responses & ongoing support with finalising the loan are greatly appreciated.Similar opinion? Write a review on ProductReview.com.au!
TravisGreater Melbourne (Metropolitan), VIC
- Verified customer
Great service and updates
Great rate home loan. I was talked through the process. All my questions answered and things explained. David was excellent, kept me updated and told me what needed to be done to get my loan approved. Recommend highly
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Harry MSydney, NSW
- 2 reviews
- 1 like
Great customer service but disappointed with change in lenders resulting in increased interest rate
Reduce were really easy to deal with, transparent and super responsive. The rate got increased as the lender changed its rating of apartment to high risk. The rate at the end was OK and still competitive but not as great as we expected. We will try again with Reduce for our next home.
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Luke BanhamWestern Australia
RHL provided a great service while purchasing a new home in 2019 and re-financing in March 2020
Reduce Homeloans provided a great service while purchasing a new home in March 2019 then re-consolidating debt March 2020 while also getting one of the lowest interest rates around. Much better than the big 4 banks. Have recommended RHL to many work colleagues and friends since. Thanks Reduce Homeloans.
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Grant B.South East Queensland, QLD
Good home loan
All round a good experience switching to Reduce just the time it took to get the loan in place was the only negative , but the low rate makes it worthwhile.
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Very good service
Take longer time than other banks (5 weeks for us) but worth the time as the interest rate is low. Good service. Get response promptly from the case manager or credit team.
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kathrynPerth, WA
great rate easy process
company offered a great home loan rate, easy to use and apply for. We end up saving heaps each month on our home loan which is great for us. Happy customer
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M PattersonSouth East Queensland, QLD
Excellent Rate
The interest rate was very competitive.
Customer service staff were pretty good but there loan approval took some time and caused a bit of stress which we could have done without.
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JodyMetropolitan Adelaide, SA
- Verified customer
Lowest interest rate home loan
Our experience with Reduce Loans was great. There was quite a bit of paperwork but I guess you can expect that at any bank. We always had a broker to chat to about our personal finances which helped a lot with the purchase of our second property. There are some fees, but they are transparent about those and with the rates being so low, it was going to be well and truly worth it for us in the long run. Highly recommend!
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Phil HallSouth East Queensland, QLD
Great product. Most competitive in the market. Flexible options
Great customer service, providing flexible options to consider.
No unexpected or hidden costs. Cost structure well explained and refund provided as promised
Very satisfied with the product. Very competitive home loan rate.
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Very helpful and professional
I have had a good experience with Reduce Home Loans, I am happy with their rates when compared to other lenders out there. Everything i was told came to be and the customer service was excellent. I would recommend them to anyone looking to obtain finance. Give them a call..!
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Great interest rates
We went to Reduce Home Loans because they offered the best interest rates in town and they delivered on this. Settlement occurred on time and we got the keys to our new place as planned, so smiles all around.
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LeoGreater Melbourne (Metropolitan), VIC
- 2 reviews
- 1 like
Good rates if you have your paperworks sorted
Reduce has been communicative and clear with what is required, and the rate is fantastic. To minimise the stress, prepare the paperwork/sums of your yearly expenses, income, tax return etc. Don't be shy in ringing them to confirm things either.
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MadeleineGreater Melbourne (Metropolitan), VIC
- 2 reviews
Good staff helpful
The staff were very helpful and always got back to you. The process was frustrating at times=having to scan and send documents was painful and then sometimes having to resend again-delays -but when you are taking out the middle man and paying for bare bones I guess you have to expect some hard work on your part. The loan has been very easy since i have had it and very user friendly and 2 interest rate drops make you feel like they are genuinely a great deal to go with.
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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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Questions & Answers
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 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.
2 answers
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.
I was told exit fees were made illegal from 2011?
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.
1 answer
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.
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