?
? !
1 photo
Reduce Home Loans

Reduce Home Loans (page 3 of 6)

4.2 from 959 reviews · View Statistics

Reviews

Previous
Next

Very happy with the intrest rate

published

Reduce home loans offered me a great interest and comparison rates for buying my house.
Their team is professional and helpful.
The process took more time and complexity than I expected, but the low interest rate compensated the pain of the process.

Similar opinion? Write a review on ProductReview.com.au!
Professional Partners

Looking for Home Loans?

Read the reviews for Professional Partners

171 reviews
Ad

Excellent deal - making it possible to own our own home!

published

We are very happy with our awesome deal, low interest rates and the extra effort made to meet our short settlement time. The only reason this is not a 5 star review is while the people and broker are lovely people to talk too we found our broker quite hard to contact at necessary times. This meant our settlement was 3 days late. Thankfully all worked out ok and we are happy with our overall experience so far.

Similar opinion? Write a review on ProductReview.com.au!
Lauren L.

Lauren L.Greater Melbourne (Outer), VIC

Great help for a first home buyer!

published
Similar opinion? Write a review on ProductReview.com.au!
Home Loans

Find out how Reduce Home Loans compares to other Home Loans

Know better, choose better.

Compare all

Very good service

published

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.

Similar opinion? Write a review on ProductReview.com.au!
kathryn

kathrynPerth, WA

great rate easy process

published

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

Similar opinion? Write a review on ProductReview.com.au!
M Patterson

M PattersonSouth East Queensland, QLD

Excellent Rate

published

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.

Similar opinion? Write a review on ProductReview.com.au!
Professional Partners

Looking for Home Loans?

Read the reviews for Professional Partners

171 reviews
Ad
Dave

DaveSouth East Queensland, QLD

Lowest interest rate available

published

Reduce offer the best rate around without compromising on customer service. They keep in regular contact with you and help you through every step of the way. The fees are a little pricey but this is more than offset by the amazing rate so if you are looking for a mortgage of over 10 years...look no further.

Similar opinion? Write a review on ProductReview.com.au!
Jody

JodyMetropolitan Adelaide, SA

  • Verified

Lowest interest rate home loan

published

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!

Similar opinion? Write a review on ProductReview.com.au!
Ange

Ange

  • 2 reviews
  • 1 like

Disappointing experience

published
Similar opinion? Write a review on ProductReview.com.au!
Home Loans

Find out how Reduce Home Loans compares to other Home Loans

Know better, choose better.

Compare all

100% incompetent! 100% disorganised

published
Similar opinion? Write a review on ProductReview.com.au!
aqua67

aqua67Sydney, NSW

  • 3 reviews
  • 1 like

Not a home loan provider, just a broker skimming fees. AVOID.

published

Reduce pretend to be a mortgage provider but they are just a broker. They provide no transparency on fees or on who the loan is funded with. We were told we had to structure our loan as 2 standard variable loans with no explanation. I now suspect this was to increase their fees. They used Mortgage Ezy for our loan who used Origin Loans who are owned by ANZ. This made it hard to know who to talk to. Our interest rate went up literally within one WEEK of signing and a second time less than 2 months later. Our rate went from excellent to mediocre very fast. We are now trying to sever all ties with these guys and it is taking weeks due to this crazy labyrinthine arrangement. AVOID LIKE THE PLAGUE.

Similar opinion? Write a review on ProductReview.com.au!
Phil Hall

Phil HallSouth East Queensland, QLD

Great product. Most competitive in the market. Flexible options

published

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.

Similar opinion? Write a review on ProductReview.com.au!
Professional Partners

Looking for Home Loans?

Read the reviews for Professional Partners

171 reviews
Ad

Great Interest Rates!

published

Great interest rates and surprisingly easy to deal with. Would choose over a big bank any day. No hidden fees and staff were all friendly. I thought having a cheaper interest rate would mean more hassle but that wasn't the case.

Similar opinion? Write a review on ProductReview.com.au!

Very helpful and professional

published

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..!

Similar opinion? Write a review on ProductReview.com.au!

Great service and rates

published

The staff was great taking me start to end getting a good loan but also supporting me throughout the whole process. Tight settlement times were always a worry for me but we made it in time too. Highly recommended.

Similar opinion? Write a review on ProductReview.com.au!
Home Loans

Find out how Reduce Home Loans compares to other Home Loans

Know better, choose better.

Compare all

Great interest rates

published

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.

Similar opinion? Write a review on ProductReview.com.au!
Leo

LeoGreater Melbourne (Metropolitan), VIC

  • 2 reviews
  • 1 like

Good rates if you have your paperworks sorted

published

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.

Similar opinion? Write a review on ProductReview.com.au!
Rachel K.

Rachel K.South East Queensland, QLD

A hassle but worth it in the end.

published

They required A LOT more information from me than my previous bank and it was a couple of months of emails back and forth almost daily but it was worth it for the money I'm now saving. The same loan is now costing me $150 a fortnight less so I definitely feel it will be worth my trouble over the life of the loan :)
Also they sent me a kit to grow your own chives as a welcome present so that was a cute touch.

Similar opinion? Write a review on ProductReview.com.au!
Professional Partners

Looking for Home Loans?

Read the reviews for Professional Partners

171 reviews
Ad
  • Verified

Reduce Home Loans - Good experience, easy to deal with and best interest rate available.

published

Reduce Home Loans - Good experience, easy to deal with and best interest rate available. Good service from Bryce Stimpson.
Offered different interest rate and loan type options, and discussed with us which would suit best, the forms were not too hard to fill out, instructions were clear and the final setup and settlement went well.

Similar opinion? Write a review on ProductReview.com.au!

Gave up after 12 weeks. Settlement elsewhere in under 3 weeks.

published
Similar opinion? Write a review on ProductReview.com.au!
Page 3 of 6
See all Reduce Home Loans reviews

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!

See all Reduce Home Loans questions

Get an answer from our members and Reduce Home Loans representatives

ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.