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Reduce Home Loans

Reduce Home Loans (page 3 of 4)

4.2 from 950 reviews · View Statistics

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Anne

AnnePerth, WA

Thanks Reduce Loans

published

We had a very helpful staff member (Reese) during the loan application process. He answered all our questions and was easy to get in touch with. He helped us our with application and doubled checked all our documents were correct before we submitted the final application. The pre-settlement team communicated with our settlement agent regarding any issues and the post-settlement team (Cat) were great at explaining each step to commence mortgage payments. Thanks.

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Excellent service from the Reduce Home Loans team

published

Nick was great to deal with, took care of everything for me, Barely had to lift a finger.
Great rates are also.
Very satisfied customer, thank you Nick and Marvin for all your help!

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David M.

David M.Western Australia

Great rates and great customer service

published

A great company to set up a mortgage with. The process went very smoothly and our sales rep was always available on the phone (Rhyse Taylor in Brisbane) to answer any questions we had)

We were worried about going with a 'non big 4 lender' bit so far so good and the interest rate is much better than any of the established banks were offering

Thanks

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Good rates

published

Reduce had the best rate we could find after a lot of research, responses were a little slow at times but got there in the end and happy we went with reduce home loans.

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local1

local1Greenwich

  • 2 reviews
  • 6 likes

Great rates..That Don't Last! Beware.

published
1 comment
Reduce Home Loans
Reduce H.Reduce Home Loans
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Nathan C.

Nathan C.Hobart, TAS

Over all very happy with Reduce. Great rates and customer support!

published

Over all very happy with Reduce. Great service and relatively easy change over procedure. The internet banking interface could do with some modifications though. Also an app would be great too.

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Michael

MichaelSouth East Queensland, QLD

  • 2 reviews
  • 3 likes

Best Interest Rate

published

Best rate in the market after RBA cut, have received first rate cut and pending for the second rate cut, call centre is helpful and provide quite response to the question.

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Fantastic Service!!!

published

My partner and I went through Reduce Home Loans for our first purchase. Being our first home, we had a lot of queries. Leon Clark was incredibly helpful and patient with us. Highly recommend him + his team!

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Upkar S.

Upkar S.South East Queensland, QLD

Low interest rate but much lower standards of customer service

published

Extremely poor standards of customer-service. Baffling, I had to frustratingly chase even the brokers to respond to my calls/emails. Then, receive contradictory information. Low rates come at terrible customer service

1 comment
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Sam W.

Sam W.Greater Melbourne (Outer), VIC

Reduce helped us to get a great rate on a home loan, and settle in a very short time frame

published

Reduce helped us to get a great rate on a home loan, and settle in a very short time frame. Thanks for your help. The online loan management web app is good also.

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Steve C.

Steve C.Greater Melbourne (Outer), VIC

Better than the big 5 banks

published

Just better service seen and better rates
I went to the banks out of interest and they were just a waste of my time. Even when they tried to match they couldn't

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Will give them 5 stars as soon as they pass on the rate cut...

published

Awesome experience from the get go.no frills but exactly what you need from a lender. Was the best rate around when we signed up and still is now 6 months later as far as I can tell.

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Low rate, more effort

published

Rate is lower than you will get mostly anywhere else. The process to get the loan, however, was not straightforward. Significant amount of complicated, hard copy paperwork, then a lot of subsequent to and fro with their solicitor (including physically driving to their office twice to submit paperwork) to get my loan documentation correct (there were errors), meaning that I had to get a settlement date extension.

Can’t really complain now that I have the loan, although the online portal is not as user-friendly as the big banks (e.g. you actually have to call them if you want to reset your password).

If your primary driver is a low interest rate and you don’t mind the hassle involved in the above, go for it.

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Sanket P

Sanket PSydney, NSW

Good service

published

I am quiet satisfied with services so far, but recommend an mobile app for monitoring our account rather than only via URL., This way it at least gives customers flexibility of checking their account

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Simon

SimonGreater Melbourne (Inner), VIC

Great rate with full offset and good service.

published

Customer service was good, a little complicated and disorganised at times.
No unexpected setup costs, great rate. Exit fees are a little high, though, which is only a problem if you’re leaving and give them the rate (and 10% offset) that’s unlikely.
The loan application and approval process could have been smoother, but worth working through for the rate, though!

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Sam H

Sam H

  • 2 reviews

Decent service given the low rate

published
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Sarah Mac

Sarah MacSydney Surrounds, NSW

Good low cost product

published

Good customer service, good communication and responsive to phone calls etc. There were no unexpected costs. They were thorough with paper work and ensuring affordability. Happy with a low interest rate.

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Johnny

JohnnySouth East Queensland, QLD

Loving everything about the switch to Reduce Home Loans

published

Couldn’t be happier after moving our home loan to Reduce Home Loans. Have saved a fortune compared to what we were paying before. Customer service was fantastic, it was like having a personal loans manager at call every step of the way.

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Peter A

Peter ASouth East Queensland, QLD

Very helpful staff. I found a very good solution to my request. Happy outcome.

published

Customer service was very good. I found a very competitive solution to my enquiry. Interestingly enough, it is still one of the best in the market after a year and a half. I would recommend.

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Reduce home loan. Really helpful, professional and great rate. Extremely happy

published

Really helpful, professional and great rate. Extremely happy!
I am planning on another loan with them and have also referred them to a few friends. I dealt with David and he was honest, available to help in an instant, and really knowledgeable.

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Page 3 of 4
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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.

2 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?

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.

2 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.

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