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Reduce Home Loans

Reduce Home Loans (page 2 of 3)

4.2 from 977 reviews · View Statistics

Reviews

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Alkesh Patel
Alkesh PatelPerth, WA
  • 3 reviews
  • Verified

Real deal....gr8 BIG 4 killer.

published

Gr8 dealing with Reduced homeloans when was going through difficult time for land settlements matters, but they speed up process to next level and finish it.Prompt responses all the time.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateDecember 2019
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

Very happy with the intrest rate

published

Reduce home loans offered me a great interest and comparison rates for buying my house.
Their team is professional and helpful.
The process took more time and complexity than I expected, but the low interest rate compensated the pain of the process.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

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0.0
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Ron F
Ron FGreater Melbourne (Metropolitan), VIC

Well worth the effort

published

A very helpful and attentive experience - at times a bit of a slow process but well worth it due to the low interest rate:) I'm glad I stumbled across Reduce Home Loans!

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forInvestment Property
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Excellent deal - making it possible to own our own home!

published

We are very happy with our awesome deal, low interest rates and the extra effort made to meet our short settlement time. The only reason this is not a 5 star review is while the people and broker are lovely people to talk too we found our broker quite hard to contact at necessary times. This meant our settlement was 3 days late. Thankfully all worked out ok and we are happy with our overall experience so far.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan Start DateDecember 2019
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

Lauren L.
Lauren L.Greater Melbourne (Outer), VIC

Great help for a first home buyer!

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateDecember 2019
Loan used forFirst Home
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Ange
Ange
  • 2 reviews
  • 1 like

Disappointing experience

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeSplit
Loan used forFirst Home

Great Interest Rates!

published

Great interest rates and surprisingly easy to deal with. Would choose over a big bank any day. No hidden fees and staff were all friendly. I thought having a cheaper interest rate would mean more hassle but that wasn't the case.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateOctober 2019
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

  • Verified

Reduce Home Loans - Good experience, easy to deal with and best interest rate available.

published

Reduce Home Loans - Good experience, easy to deal with and best interest rate available. Good service from Bryce Stimpson.
Offered different interest rate and loan type options, and discussed with us which would suit best, the forms were not too hard to fill out, instructions were clear and the final setup and settlement went well.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateSeptember 2019
Loan used forFirst Home
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Highly Recommend

published

Reduce Home Loans have been so easy to deal with and their follow up has been wonderful. Highly recommend them. Very competitive interest rates and great customer service from Bryce

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forInvestment Property
Home Loans

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Sheeba
SheebaCentral West, NSW

Excellent interest rate

published

I am really happy about the interest rate . There is no hidden fees . If they do the process bit speed , I would rate definitely 5 star . I already recommended to my friends

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateSeptember 2019
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

Anne
AnnePerth, WA

Thanks Reduce Loans

published

We had a very helpful staff member (Reese) during the loan application process. He answered all our questions and was easy to get in touch with. He helped us our with application and doubled checked all our documents were correct before we submitted the final application. The pre-settlement team communicated with our settlement agent regarding any issues and the post-settlement team (Cat) were great at explaining each step to commence mortgage payments. Thanks.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateAugust 2019
Loan used forFirst Home
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Awesome Rate and friendly Service!

published

If your looking for a great rate, you cannot go past Reduce Home Loans. No nasty fees either. Their customer service was good and friendly. Only downside, I had to chase them up a few times, but they always got back to me eventually.
The rate was awesome and they also offered no application fee on the loan saving me hundreds!
Very satisfied customer, thank you Reduce Home loans!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

Kevin
KevinGreater Melbourne (Inner), VIC

Quick and easy

published

Excellent service, professional staff, help was always available for any queries.
No hidden costs and refund of valuation
Very competitive rates
I would definitely recommend this company as this is the second time I have used them and both times went very smoothly.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateJune 2019
Loan used forInvestment Property
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Rajiv Karnik
Rajiv KarnikSydney, NSW

Best interest rate for investment property loan

published

Customer experience was good, however there is room for improvement. Particularly in the vetting of documents that are initially submitted, as later on the Settlements team / lawyers ask for more documents.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateJuly 2019
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

Other Home Loans

 
 

0.0
(1,234)

Good rates

published

Reduce had the best rate we could find after a lot of research, responses were a little slow at times but got there in the end and happy we went with reduce home loans.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeFixed Rate
Loan Start DateJune 2019
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

Home Loans

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Page 2 of 3
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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.

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!

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