Excellent Service & Great Rate
We refinanced with Reduce home loans and got a fantastic fixed rate deal. We were assisted by Jacqueline who was amazing throughout the entire process and always kept us updated on the progress and was happy to discuss any questions or queries we had. We ended up getting a low property valuation however Jacqueline helped us challenge it and we got it revised up. The home loan application and approval took a few short weeks, we were then handed over to mortgage ezy & galilee solicitors for settlement. Not very impressed by Galilee (didn't take the time to explain anything and the communication was very poor), but highly recommend Reduce Home Loans
Very happy customer from 3 years!
Started with fresh loan with lowest rate and again dealt with my finance manager Noel for refinance at lowest rate in the market. Flawless experience, great support, great online platform, peace of mind.
Home loan with a good rate and with great flexibility, great customer service
RHL offers a great rate and flexibility with 100% offsets for both fixed and variable rate loans which is exactly what I am after. Customer service has been great. All communications via email and phone was prompt. Always returning my missed calls. The settlement process has completed smoothly, though it took longer than I initially expected. The total process was 6 weeks in total. My only recommendation would be that RHL should consider implementing an online system as a single point to track the entire application process from start to settlement.
Lowest rate in the market and fantastic customer service!
Nick Freney was brilliant to deal with and always made me feel like a highly valued customer, responding to my questions in a timely manner and demonstrating a great deal of empathy and patience. This was the best rate/product in the market and I was blown away by the amazing service - thanks Nick!
Friendly helpful staff.
Great rates making it an easy decision to change. Happy to recommend to anyone reading. Process was not difficult, a little time consuming, but no different to any other financing.
A Fantastic broker efficient, reliable extremely professional and very experienced. Honest all the way
Very honest and experienced . Very professional and knows his products really well. Very helpful and precise . Recommended to others who said the same. The best broker in 21 yrs. Excellent customerservice
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Great Rate, ok service.
Great rate for refinancing. Found service a little more complicated than dealing with bank direct. Could be improved by having one consultant providing clear information and returning calls in a more timely manner. Service during settlement was great.
Great customer service and an unbeatable rate.
I had a very positive experience with Reduce Home Loans. Gary was very prompt and explained everything very clearly. Nothing was too much trouble. The rate was the best I found. Highly recommend.
stunning customer service online.
my experience with customer service was great.
No i did not receive any extra cost or other issues with this loan.
I am extremely satisfied and content with the interest rate for my loan.
Great rates but be CAREFUL!!!! Very misleading!!!!!
Very misleading, false and unprofessional company!!!!! They advertise great rates with nil fees but deliver higher rates with fees galore.
Let me start by saying they do offer great rates if you are after a simple loan. As far as the positive points go, that's about it.
My circumstances may be different to most as I was trying to refinance three separate loans (ie 3 properties) to the one lender to simplify my finances. This was explained to Reduce from the first time I contacted them. I was told I would receive the great advertised rate...s they were offering with nil fees but I would have to pay for the 3 x $250 valuation fee for each of the 3 x properties upfront (which covered up to $330 per property) but if/when I proceeded with Reduce for the loans I would be reimbursed. So after Reduce was satisfied I could service the loans, they asked for my bank details to pay for the 3 x valuations. That's where they now had me and started taking the ... !!! They deducted the 3 x $250 for the valuations plus an additional fee which when I questioned was told that was because the val cost was higher than expected. So now I am about $1,000 into the process.
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Great interest rate and low fees!! Highly recommend this institution to anyone. My previous rate with a different bank was over 6%. Now it's only 3.39%. Saving so much $$$. Best move I've ever made.
The team from Reduce were very helpful in making sure everything went to plan.
Applying for a mortgage can be a bit of an ordeal, but the team at Reduce made sure I had all my ducks in a row before sending on to the lenders.
Questions & Answers
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?
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?
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.
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.
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.
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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