1 photo
Reduce Home Loans

Reduce Home Loans

4.2 from 977 reviews · View Statistics

Reviews

Previous
Next
Amos Saraber
Amos SaraberSouth East Queensland, QLD
  • 2 reviews

Excellent service and very low rate.

published

I recently obtained a home loan from Reduce Home Loans for the purchase of a new home. Not only were they able to offer me a super-competitive interest rate, they also provided exceptional customer service. Mr David Easey and his colleagues were very friendly, responsive and professional throughout the process, and I was very impressed by the effort David made to make things happen in time for me. I'd highly recommend Reduce Home Loans to anyone considering a home loan.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateMay 2021
Loan used forFirst Home
Professional Partners

Looking for Home Loans?

Read the reviews for Professional Partners

175 reviews
Ad
Luke B
Luke B
  • 2 reviews

Good experience- lowest rate and good communication.

published

Loan was approved in a timely manner with good communication throughout process.
I would recommend them as they are also the lowest rate available.
Everything completed online via email and phone calls.

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

 
 

0.0
(1,234)
Simon N.
Simon N.Perth, WA

Seamless process

published

Extremely satisfied with my customer service experience. Reduce representative was always there to answer questions as required.

No extra costs or issues with the loan. Very happy with the loan setup costs compared to other lenders.

Very satisfied with the rate I received.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateMarch 2021
Loan used forFirst Home
Home Loans

Find out how Reduce Home Loans compares to other Home Loans

Know better, choose better.

Compare all

Great rate on home loan. Very happy.

published

Great rates, low establishment fees and no on going fees. Very happy with my loan and the service of reduce home loans. Highly recommended if you want to save on your rate. Could process applications a bit faster, however only minor complaint.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateMarch 2021
Loan used forFirst Home

Glad we made the swap!!!

published

Great rate and it was an easy process to swap from our previous bank. Very knowledgeable staff, who were easy to talk to and happy to answer any questions. Thanks heaps Jess!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan used forFirst Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Related Articles
Previous

Best Super Funds in 2020!

A good super fund can make a substanial difference to the amount you retire with. From retail super funds to self managed super funds, view reviewer ratings for the best super funds of 2020!

Wendy Z.
Wendy Z.7 Nov 2019
best-super-funds-in-2020

Best Credit Cards in 2020!

Whether it's the sign up bonus, rates and fees, or reliable customer service that you look for in a credit card, a credit card is often used everyday, so it's important you choose one that meets your needs and that you're happy with. These are the best credit cards this year, as decided by ProductReview.com.au reviewers.

Wendy Z.
Wendy Z.19 Nov 2019
best-credit-cards-in-2020

What Is Peer-To-Peer Lending?

Peer-to-peer lending is quickly gaining popularity among Australian borrowers and investors. If you've never heard of it before, this 2 minute read will give you a quick rundown so you can decide if P2P lending is right for you.

Nathan S.
Nathan S.14 Nov 2019
what-is-peer-to-peer-lending
Next
Brandon P.
Brandon P.Greater Melbourne (Metropolitan), VIC
  • Verified

Cheapest rates

published

Cheapest rates our of any lender. They even gave me the cheapest rate when I didn’t completely qualify. Very responsive customer service and always able and willing to answer my questions.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeFixed Rate
Loan Start DateMarch 2021
Loan used forFirst Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Professional Partners

Looking for Home Loans?

Read the reviews for Professional Partners

175 reviews
Ad
Glenn
GlennGreater Melbourne (Outer), VIC

Great communication, great low rate

published

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.

Transparency
Customer Service
Loan TypeVariable Rate
Loan used forFirst Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Edan
EdanGreater Melbourne (Inner), VIC

Nothing short of outstanding

published

I was very nicely surprised at the excellent service I received from Reduce Home Loans. From their branding on their web-site I initially perceived them to be a cheap, cut corners, internet brokerage. Truth of it is that I received VIP treatment from them. David, who was the Reduce broker I first made contact with, gave me his mobile number and was always super-quick to respond, whether I texted, called of emailed. He had a solid sense of urgency as things needed to move quickly with the short settlement period. If there were any delays (not due to the fault of Reduce) David immediately escalated and got things resolved right away. The rate they got me for my home loan was also head and shoulders better than the rest.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateApril 2021
Loan used forFirst Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Other Home Loans

 
 

0.0
(1,234)
Ruds
RudsPerth, WA
  • 4 reviews
  • 1 like

Good rate

published

Good interest rate. Process was efficient up to the Settlement Agent which needed some management. Offering and features were better than expected for the entity. All good in the end.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeSplit
Loan Start DateJanuary 2021
Loan used forFirst Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Home Loans

Find out how Reduce Home Loans compares to other Home Loans

Know better, choose better.

Compare all
Sam R
Sam RSydney, NSW
  • 4 reviews
  • 1 like

Love the best rate in all over Australia

published

Process was well explained and easy to follow. Rhyse guided us all the way through, he was just an email away, attended to our inquiries almost immediately . I wouldn’t hesitate a single moment to recommend Reduced Homeloan to my family and friends.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateDecember 2020
Loan used forFirst Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

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
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
Professional Partners

Looking for Home Loans?

Read the reviews for Professional Partners

175 reviews
Ad
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
Similar opinion? Write a review on ProductReview.com.au!

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
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Other Home Loans

 
 

0.0
(1,234)
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
Home Loans

Find out how Reduce Home Loans compares to other Home Loans

Know better, choose better.

Compare all
Page 1 of 4
See all Reduce Home Loans reviews

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!

See all Reduce Home Loans questions

Get an answer from our members and Reduce Home Loans representatives

ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.