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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

Great product, great rate, great service!

published

Great product, great rate, great service! I spoke to numerous providers and Reduce offered the best product and were engaged and proactive in finding the best possible solution. Would use again!

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateOctober 2020
Loan used forInvestment Property

Great experience!!

published

I would like to thank Nick Freney for assisting me to negotiate a better deal with my bank. I sent him an email and he was very efficient, he spent approximately 45 minutes on the phone to find the best options according to my needs, objectives, and financial situations. He is easily contactable, friendly with a warm attitude. He negotiated the best deal very quickly, and I must admit that I am extremely happy with the outcomes, no doubt, he has been exceptional. I would highly recommend his services to anyone. Thank you Nick!!!

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeFixed Rate
Loan used forInvestment Property
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NHD

NHDSydney, NSW

unhappy with home loan manager !

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

Edson S.Perth, WA

  • 2 reviews

Great rate and customer service

published

Excellent customer service, Reduce Home Loans team provided the best mortgage rate in the market. I was paying 4.32% with Macquarie bank and now I am paying only 2.49% with them. Thank you Guys!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeFixed Rate
Loan Start DateSeptember 2020
Loan used forInvestment Property
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
SUSANNE

SUSANNESouthwest, VIC

  • Verified customer

Low rate and well managed process

published

Fantastic low interest rate on investment property 2.79% makes it an option you have to consider.
Well managed by the account manager and I was regularly kept up to date. I'm finding it s very hard to be critical as the communication was excellent and my request to change from 45 days to 30 days settlement was accommodated.
Would 100% recommend and I would definitely use again.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateNovember 2020
Loan used forInvestment Property

The reviewer stated that an incentive was offered for this review

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

Sss

SssQueensland

4 stars!

published

Great customer service
Always followed up with us on every matter along the way
Very good rates
Always very helpful and Always willing to help
Consultants were easy to talk to

Transparency
Customer Service
Loan TypeVariable Rate
Loan used forInvestment Property

The reviewer stated that an incentive was offered for this review

Home Loans

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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
Bao

BaoSydney, NSW

Best rates, very helpful and great support and service

published

Cheapest rates around and loan was with Adelaide / Bendigo bank which gave me some comfort.

Lisa Whitla was great and very helpful throughout the whole process, especially given the tougher lending conditions and turn around times with COVID.

Would respond promptly and help explain each step of the process and any alternatives available. Highly recommended and referred a friend to her who had their loan approved and settled easily as well.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeFixed Rate
Loan used forInvestment Property

The reviewer stated that an incentive was offered for this review

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

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

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

Home Loans

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Real reviews

Real reviewsSouth East Queensland, QLD

  • 4 reviews
  • 3 likes
  • Verified customer

Exemplary Service Throughout

published

We were managed by Lisa Whitla from the outset and throughout the process for our investment properties. Lisa was exceptional with her service, follow-ups and assistance for any question. Even the questions we wanted clarification from the credit team, Lisa would mediate this in a very timely manner. Pre-approvals and formal approval periods are a matter of urgency and transparency is very important also (which is a rare commodity), Lisa also viewed these matters the same.

I would recommend Reduce for not only the Great rates for investment properties but also the service given, this makes it a smooth, stress free process (as much as possible) from what we have endured with other providers.

Highly recommend Lisa and the Reduce team.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeFixed Rate
Loan Start DateAugust 2020
Loan used forInvestment Property

Reduced interest rate

published

It take long time to get processed, lot of details submitted, at the middle we thought to stop the paper work. but once all paper work done, we can say interest rate is low compared to others and no other hidden fees

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forInvestment Property

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

Richie W.

Richie W.

  • 4 reviews
  • 2 likes
  • Verified customer

Such a delay in getting the loan

published

Took 5 weeks to hear requesting for another 3 weeks when they promised me can get it done in 4 weeks initially. Requesting sign a disclaimer letter of not responsible for delay interest, but never thought about your work in delaying the loan will cost big money to the borrower.

Be sure to have 3 months settlement time before considering this company. Good interest rate, but with a price to pay. Do your own maths if it worths it.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forInvestment Property
Bazza

Bazza

  • 2 reviews

Great Customer service from Dane & the team. Our loan has settled and with the rate received we are saving $3,000 pa

published

Great customer service.
Costs as expected. Followed Barefoot Investor and went for a vanilla loan with the ability to add or withdraw cash as required.
Very competitive rate from a non-bank lender with no hidden admin charges/fees or annual package costs. Why would anyone go the one of the big four Banks.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateMay 2020
Loan used forInvestment Property
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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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