- Verified customer
Best rates and easy process
Gary and the staff were awesome and helped me with any questions I had. Took about 1 month from start of the application to settlement. Could have been quicker really if i was on the ball with returning documents and stuff. Really happy with the rate im on.
Best rates on the market
Pleasant staff to deal with, made the whole process easy. For us it took almost 3 months to settle, 2 months to be approved by Reduce, and 1 month for our outgoing bank. 100% happy with the service and the new rate we are on.
Reliable and Good Service
Jacqueline and the team have been very diligent and transparent in providing the details and clarifying my question. Greatly appreciate and thanks the team for their support and patience in finalizing the loan settlement.
Punctual and persistant
I give the team top marks. My application came with quite a few difficulties and they supported me all the way. They never gave up o me. Once the loan was formally approved and all the requirements were met the loan settled very quickly.
Best variable rate on the market
The application was very comprehensive and took about 2 months.
During which the reserve bank reduced interest rates and this was applied to our application in full.
We now have a low upfront cost, no annual fee loan with one of the lowest variable rates on the market.
Great Low Rate home Loan
Great value, low rate loan company. Would recommend if you are able to get everything done yourself. Process took a while from start to finish, but overall satisfied with the outcome. Will be saving 000's over the years now.
Cheapest rate around!
If you want to pay as less as possible, they were the cheapest rates when I did my research.
All online so pretty straight forward. Once you get the documentation in order etc it is downhill from there.
Refinance and new loan.
Rhyse did a really good job of assisting me through the application process
I had direct communication with him and he always came back to me.
I’m very happy to recommend using reduce Homeloans.
Amazing home loan we’ve never looked back
We switched to reduce home loans and we’ve honestly never looked back. They have been so supportive through the process of switching loans. And the money we are saving from their fantastic rate has been a life changer for our little family. We are just so glad we found them.highly recommend to anyone looking for a new home loan or looking to switch home loans to a better rate and better experience .
Wasted 6 months trying to move application forward
I tried to refinance with reduce for their great rate. In short, they failed to respond to multiple follow ups. I routinely had to call in 3-4 times before I was able to speak with anyone. They rarely responded to messages. I had to submit my loan paperwork 3 times because they were so slow to process paperwork. I work in finance and did my best to 'baby' them through the process and work with them in order to get the great rate but in the end it was just impossible. I've also read online in other places their existing customers suffer from 'ra...te creep'. They really left me no choice but to go elsewhere and wasted a great deal of my time. They promised to refund my application fees due to the unreasonable delays but to date have failed to do that. They failed to respond to 3 enquiries where I noted I wanted to formally complain. I've now lodged the matter with the ombudsman. I'm surprised by others who talk about how great they are because my personal experience has been very bad and it's hard to image that this is an isolated event.
Helpful Staff - (Lisa and Lindsey)
Lisa Whitla was very nice to deal with and helped me with the process. It was my first time getting a loan and there were a heap of documents to sort through and it was quite overwhelming. She was very patient with me and helped me get through the initial set of documents.
Lindsey from the settlements team also helped me with understanding some of the terms and paperwork.
I know it was a testing time with COV-ID but all the staff i talked with were very patient and nice.
Great customer service but a long process
The customer service shown by Rhyse was great. Supported my wife and I through the whole process well and was a pleasure to deal with. However the actual process of application took a long time with being asked for documents on multiple occasions. However would recommend.
Great customer service
I was very happy with the contact and very responsive replies from Rhyse at Reduce Home Loans. The process was quite long and a lot of documentation required to be provided (different to the big 4 banks) so just be aware of this when starting the process. Rhyse was always willing to assist with my questions. The low interest rate can't be beaten, and I did a lot of checking prior to going through with Reduce Home Loans to refinance. Some of the costs were a little hidden, which I think is something that can be improved to assist when you are making a decision to refinance in the first instance. Overall I would highly recommend.
Good rate but took a lot of work
David was very helpful and attentive throughout the entire process, however there was a lot of difficulty getting the loan approved on time which resulted in the settlement being pushed back a couple of weeks, but I still ended up with an exceptional homeloan rate by the end of it
Fantastic rate worth a bit of effort
This is hands down one of, if not the best home loans available. Drop the big banks and deal with a non bank lender. Our specialist was Dane Binckes and was always happily available any time of the day to assist with our queries. The application process is not super straightforward but Dane was available to assist where required. It is worth it as I believe we have the BEST rate in Australia that will pay back again and again and again.
Greate rate and helpful staff
We recently refinanced our home loan with Reduced Home Loan and are extremely happy with them. The staff were friendly and helpful throughout the process. The only thing that was a little bit annoying was the number of documents that they required. However, I would assume that is because of their low rate loan and the banks which work with them are a little bit cautious about choosing customers.
Outstanding service and excellent support
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.
Best Interest Rate
It was an easy application process and there were no extra costs. This was the lowest interest rate we could find, so far no problems with Internet banking, their customer service respond quickly to queries.
Best variable interest rate
Easy application process, great customer support and the best variable interest rate in the market. Communication and feedback during the application was prompt and helpful, and absolutely no issues with the product provided.
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!
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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