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Reduce Home Loans

Reduce Home Loans

4.2 from 959 reviews · View Statistics

Reviews

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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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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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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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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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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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Professional Partners

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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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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
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excellent service

published

This was our second application with Reduce Home Loans, again great rate and supportive customer services. A big thank you to Dane, the Personal Finance Manager for my case and to the Settlement Department team.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forHome Construction
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Great home loan rates & no fees

published

We looked into numerous lenders & found Reduce had a great rate & no fees. We switched to Reduce & made significant savings each fortnight that is now going directly toward reducing our debt faster. Lisa helped us through the process which made it easy to switch.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateJune 2020
Loan used forFirst Home
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Heimana

HeimanaSouth East Queensland, QLD

  • 4 reviews

Outstanding service and excellent support

published

I have been dealing with Dane, one of the finance manager from day 1 when I first called up to understand the process and timeframe so I can confidently secure our property when making an offer. The team at Reduced has been wonderful, offering me continuous follow ups and support with the administrative paperwork. Joel from the back office has been extremely helpful and prompt given our tight deadlines to meet Finance and B&P conditions. Without any doubts in my mind, I can strongly recommend Reduce Home Loans as your lender they have the most competitive rate currently, they know what they are doing and they value you as a customer which is the biggest difference if you compare it to other lenders including the big banks.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forFirst Home
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Very Helpful to this First Home Buyer

published

Dealing with Leon was such a pleasure. I'm a 25 year old first home buyer and I wasn't too understanding of the world of property purchasing. It's good to know that I'm getting one of the lowest interest rates in the country. I was a bit nervous throughout the whole property purchase dealing with the sales agent, solicitors and contracts; but Leon was very responsive in getting back to me and very helpful with all my questions.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateMarch 2020
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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Mark C.

Mark C.South East Queensland, QLD

Very low rates

published

I found the customer service very responsive whenever I rang with questions. There were no hidden costs and I could not find a better rate on the market and I looked very hard.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forFirst Home
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Excellent

published

Great experience with reduced home loans. Best rate on the market and the process to get my loan approved was a breeze. Would recommend to anyone who's looking for a home loan.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateJanuary 2020
Loan used forFirst Home
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Nick

NickWimmera, VIC

Excellent interest rates

published

The service from the broker was punctual and communication was constant throughout the process. The interest rate offered is market leading and the products available are tailored to your needs. I would recommend Reduce Home Loans and go through the process again.

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

Home Loans

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scubaannie

scubaannie

  • 2 reviews
  • 5 likes

Best interest rates

published

Reduce have the lowest interest rates and it was a quick process to get approved! Good communication. It was very smooth process. Would do it again if I had to!

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

andrew.westaway

andrew.westawayGreater Melbourne (Inner), VIC

Great service and extremely cheap rate

published

The home loan rate provided was very attractive and is initially why I went with Reduced Home Loans.
I had a short settlement date and was worried it may not be met however the team at Reduced Home Loans was able to complete the application and have contracts ready for my review and signing within 4 weeks.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateFebruary 2020
Loan used forFirst Home
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Prasangi

PrasangiPerth, WA

Was an easy process! Guaranteed lowest interest rates!!

published

Lowest Interest rate and We save up to $400 monthly:) great customer service and so easy to approach them. Very transparent and no hidden charges. Highly recommended to anyone looking for new housing loan or switching loans:)

Transparency
Customer Service
Application Process
Timeliness
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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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.

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

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateSeptember 2019
Loan used forFirst Home
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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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