Straight Forward and Great outcome
Refinancing with Reduce was a positive experience. The application process takes some time as it is very comprehensive but the outcome warrants the effort. I reduced my rate to the lowest on the market.
Reduce staff are great help
I chose Reduce because their rates were the most competitive, but be prepared to submit a lot more documents than other lenders, and multiple times if the process gets drawn out. Otherwise, the service I received from Jacqueline from Reduce Home Loans was fantastic. She was very helpful, even helping me to change to a lower interest option with a higher LVR midway through the application at my request and gave regular updates on how my application was progressing since my case was unique. All while she was very patient and thorough and answered...my many questions. However, I would ask the lender (mortgageez) to avoid using Galilee in future as their solicitors, since their communication was poor and unprofessional, if they had spent the time to explain what needed to be done ahead of time it would not have drawn out the time to settle. The settlement day got delayed twice as a result, and the second time was because they miscalculated the shortfall!
Made our first home easy and stress free!
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.
Best rates, lots of options, personalised offerings
We had a great broker helping us (Rhyse Taylor), he first listened to what we were after and our current situation before offering us various products that met our requirements. We were guided through the process to make our own decision. The fees were as explained to us, so there were not bad surprises. I would recommend Reduce Loans and Rhyse to anyone who is looking to get the best home loan deal for their specific circumstances
Good rates but you might need to wait :)
The brokers are polite, provide detailed information and easy to reach.
The rates are good.
The process takes around 50% longer than in other banks.
Valuation team requires some babysitting.
Great home loan rates & no fees
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.
Good rates, professional and easy to setup.
Broker answered all our questions and was very responsive. Easy to setup and good mortgage rate for first home owner-occupier. All associated costs were listed in the brochures and website.
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
Low rate home loan, friendly service!!
I was referred to reduce home loans by a friend who also had a very positive experience because my fixed term with another bank was nearing its end and they were not going to offer me anything close to what reduce home loans could. So after a little research I gave them a call! The application process was simple, and there was a broker There to explain everything and help me fill in those tricky and daunting Forms!
I would HIGHLY recommend reduce home loans to all my friends and family!
Customer experience was great and helpful. The lending process was effective and worked with me throughout the process to get the loan complete as quickly as possible. I am satisfied and would recommend this product to friends and family.
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.
Great people, slow process
The team at Reduce have been good to talk to and did their best to pick the right loan for us. However the process has been extremely protracted, even allowing for COVID-19 impacts. We first signed our application on April 24, and as of today (15 weeks later) we have not yet achieved settlement on the loan.
We have had to ask for updates in order to understand where things were up to, with at times a month going by without any news on what was happening. Given the protracted duration, it has been necessary to re-furnish new copies of documents...that were previously supplied (for example a more recent payslip or statement) which has been a source of frustration. Ultimately this new mortgage product will be much better for us, so this process will be worth it, but there has been significant opportunities that were lost to us as we waited (and continue to wait) for the loan to settle.
Jacqueline and Joel were very helpful with the whole process.
A little more work involved because of dealing online, no branch available.
Well worth it with the money you save.
Took about 8 weeks all up.
Customer service was spot on, My broker Dane helped me through every step of refinancing and made it very easy. Reduce have very competitive rates and I don’t know why i didn’t do it earlier
Great Home Loan Company
Great service, and professional staff. My Broker Jacqueline was fantastic and she went above and beyond to assist me with refinancing my home load. The support staff were also outstanding and took the time to explain each step. Would definitely recommend this Company.
Great home-loan rate with great service
The teams are very professional in their approach and patiently assisted with the paper work, clarifying and explaining the process. They are very approachable and provided timely response to my queries, helped me to make informed decision, though there were delay on my end.
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.
Great rates and friendly, helpful staff
It was a pleasure to deal with the team. Despite having all my paperwork in order there was issues with a credit reporting agency providing incorrect information about myself. The team were able to work through it and look at the paperwork showing that the agency was demonstrably incorrect and able to work through this. Several months later the agency is still yet to correct their records and I have initiated a complaint against them with the regulatory body. Meanwhile my loan with Reduce is ticking along nicely.
This is the second time i have refinance with Reduce Home Loans. Aside for giving us a very competitive rate, the one which i really liked about is the customer support. Noel Costca was very prompt on providing me the information i needed all through out the process of refinancing until settlement. Even after hours if i needed to get some key details he will still respond to my text message. I even recommended Reduce home loans to my friends. Give it a go.
Reduce Home Loan was pretty good under the current conditions of covid19.
Reduce Home Loan was pretty good themselves with the covid19 changes and updates. Being a first home buyer it was a very stressful, not too great communication between all parties and not very organised process. My settlement date was moved twice and lucky settled on the third attempt. The actual loan it's self they offer is a good deal compared to the big four banks but the main banks deal with the first home buyers grant and Reduce Home Loans do not.
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.
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