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Reduce Home Loans

Reduce Home Loans

4.2 from 959 reviews · View Statistics

Reviews

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Glenn

GlennGreater Melbourne (Outer), VIC

Great communication, great low rate

published

One of the lower rates I found on the market. Bryce was brilliant at working around my busy schedule and kept in regular contact. Happily answered all my questions and made sure everything ran smoothly.

Transparency
Customer Service
Loan TypeVariable Rate
Loan used forFirst Home
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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
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateFebruary 2021
Loan used forSecond Home
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Edan

EdanGreater Melbourne (Inner), VIC

Nothing short of outstanding

published

I was very nicely surprised at the excellent service I received from Reduce Home Loans. From their branding on their web-site I initially perceived them to be a cheap, cut corners, internet brokerage. Truth of it is that I received VIP treatment from them. David, who was the Reduce broker I first made contact with, gave me his mobile number and was always super-quick to respond, whether I texted, called of emailed. He had a solid sense of urgency as things needed to move quickly with the short settlement period. If there were any delays (not due to the fault of Reduce) David immediately escalated and got things resolved right away. The rate they got me for my home loan was also head and shoulders better than the rest.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateApril 2021
Loan used forFirst Home
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AVOID at all costs - Pre-Approval doesn't mean anything either - Constant stress and lost dream home

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeFixed Rate
Loan used forSecond Home
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Ruds

RudsPerth, WA

  • 4 reviews
  • 1 like

Good rate

published

Good interest rate. Process was efficient up to the Settlement Agent which needed some management. Offering and features were better than expected for the entity. All good in the end.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeSplit
Loan Start DateJanuary 2021
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

Great value, professional service.

published

We took out a construction loan with Reduce home loans to build a new home for our family. We found Gary to be friendly, professional and very responsive. Great value service

Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateJanuary 2021
Loan used forHome Construction
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Professional Partners

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Reduce Home Loans - Excellent Experience

published

We used Reduce Home Loans to fund construction of our forever home and had the pleasure of working with Lisa as our Finance Manager. Our experience was very smooth and Lisa went above and beyond to have everything in place and all the information we needed. To the extent that Lisa was updating our documentation late afternoon on Christmas Eve and New Years Eve, which was greatly appreciated. We recommend engaging Reduce Home Loans to discuss your financing needs.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateFebruary 2021
Loan used forHome Construction
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Cherie S.

Cherie S.South East Queensland, QLD

an easy loan process

published

We had an easy loan process and appreciated the quick responses and follow up with loan documents and our many questions! There are lots of documents required initially but the process after that was fast.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forHome Construction
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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
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateJanuary 2021
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

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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
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateJanuary 2021
Loan used forSecond Home
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Sam R

Sam RSydney, NSW

  • 3 reviews
  • 1 like

Love the best rate in all over Australia

published

Process was well explained and easy to follow. Rhyse guided us all the way through, he was just an email away, attended to our inquiries almost immediately . I wouldn’t hesitate a single moment to recommend Reduced Homeloan to my family and friends.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateDecember 2020
Loan used forFirst Home
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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
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan Start DateJanuary 2021
Loan used forSecond Home
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Rowena

Rowena Greater Melbourne (Metropolitan), VIC

  • 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
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeFixed Rate
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

Great knowledge and service

published

My broker was David Easey and he explained the process very clearly and took his time to discuss the pros and cons of different loan types. He was prompt in replying to any of my queries over the phone or email. I'm glad that I went through reduce home loans for my mortgage. I was also assisted by Kurt Trendle and Jet Curtis who were also very knowledgeable and provided great customer service.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateDecember 2020
Loan used forFirst Home
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NHD

NHDSydney, NSW

unhappy with home loan manager !

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forFirst Home
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Adam M.

Adam M.Sydney, NSW

Good rate and responsive service

published

Excellent customer service, best rate available and very responsive. Made a complex process simple to navigate. Offered some good ideas that allowed us to structure our loans in a cost effective way. Highly recommended.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateOctober 2020
Loan used forFirst Home
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Monica VA

Monica VAGreater Melbourne (Outer), VIC

Easy & fast

published

As a FHB I was quite stressed about the loan application process and deadlines. David got my loan pre-approved and final approved within less than one month! He also helped me negotiating a rate and package suited for me. Thank you! I found the process quite simple, easy and smooth. Definitely recommend.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateAugust 2020
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

Jen

JenSouth East Queensland, QLD

Reduce staff are great help

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

Professional Partners

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171 reviews
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Ashleigh

AshleighSouth East Queensland, QLD

Made our first home easy and stress free!

published

We used reduce home loans for our first home. The process was super easy, stress free and professional. We were also given extensive information that made the whole process simple and straightforward. Reece was really attentive at answering questions and his years of experience and knowledge raised points we hadn’t yet considered.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forFirst Home
Similar opinion? Write a review on ProductReview.com.au!
Petr V.

Petr V.South East Queensland, QLD

Good rates but you might need to wait :)

published

Good points:
The brokers are polite, provide detailed information and easy to reach.
The rates are good.
Negative points:
The process takes around 50% longer than in other banks.
Valuation team requires some babysitting.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forFirst Home
Similar opinion? Write a review on ProductReview.com.au!
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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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