Great communication, great low rate
One of the lower rates I found on the market. Bryce was brilliant at working around my busy schedule and kept in regular contact. Happily answered all my questions and made sure everything ran smoothly.
Easy & fast
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.
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!
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.
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.
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.
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
Best rates and great product!
Great rates, great protal and product. Takes a bit of time to set-up but completely worth it in the end with the cheapest rate on the market! They told me they are working to improve on that so definitely the place to go for a loan.
Very happy with the intrest rate
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.
Great help for a first home buyer!
As a first home buyer, the whole process was always going to be daunting. Reduce offered a great service with great rates and options with very happy and helpful team members. We had started going through our pre approval process when we ended up finding 'the one'. As the turn over on houses was so quick at the time (a matter of days), we thought it was the best option to put our offer forward without pre approval. As I had already started the pre approval process, David already had a good idea of what was possibly for us and didn't hesitate wh...en I asked him to write a letter to the real estate and vendor to confirm that the finance shouldn't be an issue. This helped make our offer a lot stronger and I am very thankful to David for this. The only real negative is that I found it hard to get Specific people on the phone. As its a hotline/call center setup, you get whoever was next in line. We could email the person directly however, emails take longer to write so the replies were slower and less detailed. I believe they are currently in the process of changing this. Overall I would highly recommend Reduce home loans. Our approval process and settlement went smoothly and we are now living happily in our new home.
Great Interest Rates!
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.
Reduce Home Loans - Good experience, easy to deal with and best interest rate available.
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.
Excellent interest rate
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
Rate is good but customer care is bad
The interest rate is very competitive. Their customer's response is very fast. However, the process took longer than what I expected, and we had to delay our settlement 1 days. Before the settlement, the rate reduced to 2.99%. We were told that the new rate will be passed to us by 15th of Aug but up to today date (08 Sept) we still haven't got the new rate. We contacted the customer care numerous of times and the response we got is they are working on it and the lender haven't approve and they have escalated the queries. It has been almost 2 months of following up and nothing has been resolved yet. Overall, the rate is good but if you have any issue and need support, it's not going to be straight forward.
Thanks Reduce Loans
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.
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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