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Reduce Home Loans

Reduce Home Loans

4.2 from 929 reviews · View Statistics

Reviews

4.2

35 reviews
Previous
Next

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
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

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

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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

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

Great personalised help all the way

published

Customer service by Lisa was excellent. She was always ready to help, keep us up to date, patiently explain everything and said we could keep in touch. Great interest rate. Very satisfied.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateApril 2020
Loan used forInvestment Property
Brad G.

Brad G.Southwest, VIC

Best decision I made in a long time!

published

Nick was fantastic from the start. He took time understand my complicated situation and tailored an approach that allowed me to protect my home, free up some cash while saving a heap on mortgage repayments through a market leading rate.

He worked hard behind the scenes to meet tight finance deadlines, escalating where needed, following up and keeping me informed along the way.
I would definitely recommend after my experience and would give 6 stars if I could!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forInvestment Property
Jojo Mundackal

Jojo MundackalSydney, NSW

Great service provided

published

Very good service provided to complement excellent home loan rate. All costs were already mentioned upfront and there were no unexpected costs. I am very satified with the rate received.

Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forInvestment Property

The reviewer stated that an incentive was offered for this review

Home Loans

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Evie

EvieSouth East Queensland, QLD

  • 3 reviews

Good!

published

Saved heaps! Great customer service, lovely people and quick phone pickup! Only downside is the loan docs are more painful than from my bigger bank. But well worth the pain!

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forInvestment Property

The reviewer stated that an incentive was offered for this review

Alkesh Patel

Alkesh PatelPerth, WA

  • 3 reviews
  • Verified customer

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

The reviewer stated that an incentive was offered for this review

Great rates for investment loan

published

Very happy with Reduce Home Loans. The investment loan rates are amongst the best in the market. Excellent customer service and had a smooth settlement. Will be using Reduce Home Loans again. Thank you!!!

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

The reviewer stated that an incentive was offered for this review

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

The reviewer stated that an incentive was offered for this review

  • Verified customer

Excellent

published

Nick Freney at reduce home loans is the BEST.
We had a very complex situation for our investment loan and he got it all sorted with endless positivity. We won’t be going to anyone else for all future investments.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateJanuary 2020
Loan used forInvestment Property

The reviewer stated that an incentive was offered for this review

Justin H.

Justin H.Illawarra, NSW

Home loan - low-cost but high quality service

published

Thanks to our broker Leon and Reduce Home Loans for all your help with getting our investment loan expedited with maximum care and minimum fuss over a busy end of year period. Your personal service has been the best advertisement for choosing a non-bank lender. Low-cost and high quality is a rare to find in anything, let alone in an $800,000 home loan!

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

The reviewer stated that an incentive was offered for this review

Home Loans

Find out how Reduce Home Loans compares to other Home Loans

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Ryan B.

Ryan B.Sydney, NSW

Keep away from this mob!

published

Terrible customer service. Very hard to get any information from anyone. A good rate quickly drifted to a terrible rate and was made virtually impossible to change. Refinancing with another organisation will be the best $875 I have ever spent. (Despite being told initially there would be no discharge fees). This mob will cost you $$$ in the end.

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

Abhinav B.Greater Melbourne (Metropolitan), VIC

  • Verified customer

Great rates and service on home loans

published

Have been with them for over 3 years - always provide best rates, are knowledgeable and prompt in their response. They take the time to review, listen and understand the situation and respond promptly

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

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

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

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

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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