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Reduce Home Loans

Reduce Home Loans

4.2 from 913 reviews · View Statistics

Reviews

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Great knowledge and service

published

My broker was David Easey and he explained the process very clearly and took his time to discuss the pros and cons of different loan types. He was prompt in replying to any of my queries over the phone or email. I'm glad that I went through reduce home loans for my mortgage. I was also assisted by Kurt Trendle and Jet Curtis who were also very knowledgeable and provided great customer service.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateDecember 2020
Loan used forFirst Home
NHD

NHDSydney, NSW

unhappy with home loan manager !

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forFirst Home
Adam M.

Adam M.Sydney, NSW

Good rate and responsive service

published

Excellent customer service, best rate available and very responsive. Made a complex process simple to navigate. Offered some good ideas that allowed us to structure our loans in a cost effective way. Highly recommended.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateOctober 2020
Loan used forFirst Home
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Monica VA

Monica VAGreater Melbourne (Outer), VIC

Easy & fast

published

As a FHB I was quite stressed about the loan application process and deadlines. David got my loan pre-approved and final approved within less than one month! He also helped me negotiating a rate and package suited for me. Thank you! I found the process quite simple, easy and smooth. Definitely recommend.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateAugust 2020
Loan used forFirst Home

The reviewer stated that an incentive was offered for this review

Jen

JenSouth East Queensland, QLD

Reduce staff are great help

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan used forFirst Home

The reviewer stated that an incentive was offered for this review

Ashleigh

AshleighSouth East Queensland, QLD

Made our first home easy and stress free!

published

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.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forFirst Home
Petr V.

Petr V.South East Queensland, QLD

Good rates but you might need to wait :)

published

Good points:
The brokers are polite, provide detailed information and easy to reach.
The rates are good.
Negative points:
The process takes around 50% longer than in other banks.
Valuation team requires some babysitting.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forFirst Home

excellent service

published

This was our second application with Reduce Home Loans, again great rate and supportive customer services. A big thank you to Dane, the Personal Finance Manager for my case and to the Settlement Department team.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forHome Construction

The reviewer stated that an incentive was offered for this review

Great home loan rates & no fees

published

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.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateJune 2020
Loan used forFirst Home
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Good rates, professional and easy to setup.

published

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.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateMay 2020
Loan used forFirst Home

The reviewer stated that an incentive was offered for this review

Kristy

KristyPerth, WA

Reduce Home Loan was pretty good under the current conditions of covid19.

published

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.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeFixed Rate
Loan Start DateJune 2020
Loan used forFirst Home

The reviewer stated that an incentive was offered for this review

Hason

HasonSydney, NSW

  • 55 reviews
  • 21 likes
  • Verified customer

They took 4 months for my application. Went to a new lender and got approved in 4 days.

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forHome Construction
Sam B

Sam BSydney, NSW

Helpful Staff - (Lisa and Lindsey)

published

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.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateApril 2020
Loan used forFirst Home

The reviewer stated that an incentive was offered for this review

Good rate but took a lot of work

published

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

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forFirst Home

The reviewer stated that an incentive was offered for this review

Heimana

HeimanaSouth East Queensland, QLD

  • 4 reviews

Outstanding service and excellent support

published

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.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forFirst Home

The reviewer stated that an incentive was offered for this review

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Very Helpful to this First Home Buyer

published

Dealing with Leon was such a pleasure. I'm a 25 year old first home buyer and I wasn't too understanding of the world of property purchasing. It's good to know that I'm getting one of the lowest interest rates in the country. I was a bit nervous throughout the whole property purchase dealing with the sales agent, solicitors and contracts; but Leon was very responsive in getting back to me and very helpful with all my questions.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forFirst Home

The reviewer stated that an incentive was offered for this review

Mark C.

Mark C.South East Queensland, QLD

Very low rates

published

I found the customer service very responsive whenever I rang with questions. There were no hidden costs and I could not find a better rate on the market and I looked very hard.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forFirst Home

Excellent

published

Great experience with reduced home loans. Best rate on the market and the process to get my loan approved was a breeze. Would recommend to anyone who's looking for a home loan.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateJanuary 2020
Loan used forFirst Home

The reviewer stated that an incentive was offered for this review

Nick

NickWimmera, VIC

Excellent interest rates

published

The service from the broker was punctual and communication was constant throughout the process. The interest rate offered is market leading and the products available are tailored to your needs. I would recommend Reduce Home Loans and go through the process again.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forFirst Home

The reviewer stated that an incentive was offered for this review

scubaannie

scubaannie

  • 2 reviews
  • 4 likes

Best interest rates

published

Reduce have the lowest interest rates and it was a quick process to get approved! Good communication. It was very smooth process. Would do it again if I had to!

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forFirst Home

The reviewer stated that an incentive was offered for this review

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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.

Get an answer from our members and Reduce Home Loans representatives

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