1 photo
Reduce Home Loans

Reduce Home Loans

4.2 from 1,000 reviews · View Statistics
Listing monitored by Reduce Home Loans

Reviews

Previous
Next
Brooke & Brian E.
Brooke & Brian E.South East Queensland, QLD
  • 2 reviews
  • 1 like

Professional and thorough

published

Our broker Nick complete a complicated re-finance and new purchase for us, helping us secure our ‘forever’ home. Was professional, thorough and knowledgeable throughout, and when we got a bit worried the deal might not happen, he kept us informed and calm.

Transparency
5/5
Application Process
4/5
Timeliness
4/5
Online Tools
4/5
Loan TypeFixed Rate
Loan Start DateSeptember 2021
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Excellent Service with Unbeatable Incredible Lowest Rates.

published

This is our second time dealing with Reduce Home Loan in two years period of time and we were always dealing with Nick Freney and his service and the products he offered us are beyond incredible. We can't thank him enough. I personally am so grateful for this man and so much gratitude for the hard work he puts in. thank you!

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forRefinancing

Other Home Loans

 
 

0.0
(1,234)
Ross
RossGreater Melbourne (Outer), VIC
  • 2 reviews

Excellent Service with the best interest rates

published

If you are looking to refinance or a new loan, please check out Reduce Home Loans. Their service was excellent (thanks David). I was kept upto date with the progression of the loan. Internet banking is easy to use and I managed to get one of the best interest rates going around which others couldn't match. I will definitely use again in the future. Thanks Reduce Home Loans for saving me money which will help me pay off my loan a lot sooner.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
4/5
Online Tools
5/5
Loan TypeVariable Rate
Loan Start DateJuly 2021
Loan used forRefinancing
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Cheryl
Cheryl
  • 2 reviews

Great service and rates

published
Transparency
5/5
Customer Service
5/5
Application Process
4/5
Timeliness
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateSeptember 2019
Loan used forRefinancing
Home Loans

Find out how Reduce Home Loans compares to other Home Loans

Know better, choose better.

Compare all
Angie Y.
Angie Y.Metropolitan Adelaide, SA

Would definitely recommend!

published

My husband and I recently refinanced with Reduce Home Loans and it was a fantastic process end to end! Bryce was extremely responsive, helped us every step of the way and made what can sometimes be a bit of a stressful time completely smooth sailing. The turnaround was also really quick! Would definitely recommend.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Loan TypeVariable Rate
Loan Start DateJuly 2021
Loan used forRefinancing
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Great rates and knowledgeable broker

published

I commend Nick as a broker. He was able to explain to me the entire loan process and best way forward given I was refinancing a loan and buying an investment property. His knowledge and expertise was great. This was also tied in with competitive market rates.

The application process is much simpler than it was 5 or so years ago (where it was paper based). It is all completed on an online portal where you can also keep a track on the progress. Was sweating on settlement day. There were minor issues with communication between mortgage solicitor and the discharge bank but Nick along with his colleague were very quick to get on top of it to ensure settlement proceeded smoothly.

Transparency
4/5
Customer Service
4/5
Application Process
5/5
Timeliness
5/5
Online Tools
4/5
Loan TypeVariable Rate
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Get quotes
Looking for Home Loans?

Compare lenders with Lendi

Start now
Mario T.
Mario T.Sydney, NSW
  • Verified

Great customer serice

published

Very competitive rate.The mortgage broker Dane was very helpful, responsive and made the whole process very easy. The initial contact was through Zoom which assured me it was a fair dinkum company.

Transparency
5/5
Customer Service
5/5
Application Process
4/5
Timeliness
4/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forRefinancing

Related Articles

Previous
Super Funds Awards 2020!

A good super fund can make a substanial difference to the amount you retire with. From retail super funds to self managed super funds, view reviewer ratings for the top-rated super funds of 2020!

Wendy Z.
Wendy Z.7 Nov 2019
super-funds-awards-2020
Credit Card Awards 2020

Whether it's the sign up bonus, rates and fees, or reliable customer service that you look for in a credit card, a credit card is often used everyday, so it's important you choose one that meets your needs and that you're happy with. These are the top-rated credit cards this year, as decided by ProductReview.com.au reviewers.

Wendy Z.
Wendy Z.19 Nov 2019
credit-card-awards-2020
What Is Peer-To-Peer Lending?

Peer-to-peer lending is quickly gaining popularity among Australian borrowers and investors. If you've never heard of it before, this 2 minute read will give you a quick rundown so you can decide if P2P lending is right for you.

Nathan S.
Nathan S.14 Nov 2019
what-is-peer-to-peer-lending
Next
Heather G.
Heather G.Sydney Surrounds, NSW

Excellent Rate Excellent Customer Service

published

Really happy with the ease of the application process and the great rapport built up with Jacqueline who stayed in touch throughout. Great rate. Couldn’t be happier. Thank you Reduce

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Loan TypeVariable Rate
Loan Start DateMarch 2021
Loan used forRefinancing
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Other Home Loans

 
 

0.0
(1,234)

Low interest rates with high service

published

Very smooth application process with excellent service. Most importantly, the very low interest rates. Excellent experience.

Bryce was very helpful and ensured it went smoothly. Didn't have to go anywhere physically, all online or on the phone, which is great.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Loan TypeVariable Rate
Loan used forFirst Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Home Loans

Find out how Reduce Home Loans compares to other Home Loans

Know better, choose better.

Compare all
Scooter
ScooterGreater Melbourne (Metropolitan), VIC
  • 6 reviews
  • 3 likes

Never again !

published
Transparency
1/5
Customer Service
1/5
Application Process
2/5
Incentivised Review No
Loan used forRefinancing
Reduce Home Loans
Reduce H.Reduce Home Loans
Get quotes
Looking for Home Loans?

Compare lenders with Lendi

Start now
Daham K.
Daham K.
  • 3 reviews
  • 1 like

Worst ! worst! Their rates are just a trap

published

Their rates are just low only for the first few months then it is higher than others. They will not give a crap about you once the loan is set up. If you ask for a rate review they will not reply at all. MEzy customer service is bad. I am trying to get out of this trap.

Transparency
1/5
Customer Service
1/5
Application Process
1/5
Timeliness
1/5
Online Tools
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateJune 2019
Loan used forFirst Home
Reduce Home Loans
Reduce H.Reduce Home Loans

Hi Daham, can you please email your details to info@reduceloans.com.au so we can look into your loan and get this sorted for you.

Other Home Loans

 
 

0.0
(1,234)
Jimmy
JimmySouth East Queensland, QLD
  • 17 reviews
  • 6 likes
  • Verified

Great value and easy to use website

published

I refinanced to reduce homeloan from my previous lender. Much better interest rate and great functional website.

Personally really like the ability to pay BPAY directly from the loan account. Makes scheduling bill payments really easy, and means I can keep interest payments down by having my salary going into the loan.

Suggestion for website future development would be the inclusion of two factor authentication for payments to new bank accounts.

Transparency
5/5
Customer Service
5/5
Application Process
4/5
Timeliness
3/5
Online Tools
4/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateMarch 2021
Loan used forRefinancing
Home Loans

Find out how Reduce Home Loans compares to other Home Loans

Know better, choose better.

Compare all
Shan
ShanVictoria
  • 2 reviews
  • 2 likes

Might take a bit of time to assess and gather/ complete the paperwork but was pretty straight forward and easy.

published

If you have equity in your home loan then I would certainly recommend. The process is pretty straight forward and it was a pleasure working with Gary. My rate was competitive to begin with and managed to secure an even better rate which was great.

Transparency
5/5
Customer Service
5/5
Application Process
4/5
Timeliness
4/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateJuly 2020
Loan used forRefinancing
Get quotes
Looking for Home Loans?

Compare lenders with Lendi

Start now
Hayles
Hayles
  • 2 reviews

Best interest rates around!

published

We recently refinanced our loans with Reduce Home Loans. Our current bank couldn’t come close to matching their rates. No ongoing fees, no establishment fees. There is an exit fee however, so I recommend you ask upfront what that will be (different packages have differing fees). Easy redraw process, good online platform. Our interest rates are now 1.99% for our home loan and 2.29% for our investment loan (both P&I variable). We are happy we made the switch, even if the loan application process can be quite lengthy.

Loan TypeVariable Rate
Loan used forRefinancing
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Amos Saraber
Amos SaraberSouth East Queensland, QLD
  • 2 reviews

Excellent service and very low rate.

published

I recently obtained a home loan from Reduce Home Loans for the purchase of a new home. Not only were they able to offer me a super-competitive interest rate, they also provided exceptional customer service. Mr David Easey and his colleagues were very friendly, responsive and professional throughout the process, and I was very impressed by the effort David made to make things happen in time for me. I'd highly recommend Reduce Home Loans to anyone considering a home loan.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateMay 2021
Loan used forFirst Home
Page 1 of 10

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.

Find the right home loan for you

Compare lenders with Lendi

Start NowNEW SERVICE