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Reduce Home Loans
Refinancing made easy
Gary and his team were very accommodating throughout the process and always kept us up to date. The rate we received was great and was reduced during our application.
During Covid time the online process was very suitable and worked well.
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Good rates and Jacqueline was excellent
Good rates and Jacqueline was excellent. The approval process took a while but once it was approved we are very happy with the interest rate and post approval support experience.
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Paul CarronGreater Melbourne (Metropolitan), VIC
- 4 reviews
One of the best for rates and cashback and excellent customer service
I worked with Nick Freney on refinancing my home loan away from a big 4 bank, and got a way better rate plus cash back.
Nick was excellent and helped us to work through some difficulties that we faced in terms of being able to get the required loan amount.
I highly recommend getting away from a big 4 bank and highly recommend Reduce Home Loans and Nick to do it with!
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Home loan refinance process and settlement.
The refinance process and settlement was seamless and simple.
Good rates and no unnecessary headache was caused. Will review the service later.
A mobile app for loans would be useful. Reach out if you need help developing one ;)
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Great knowledge and service
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.
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Paul SSouth East Queensland, QLD
- Verified customer
My cheap rate just got cheaper
I had a great experience in refinancing with Reduce. I would like to thank the whole team who seem to bend over backwards to help me plus it was a fantastic surprise to receive the full RBA rate cut considering my last bank didn’t give me anything and the major banks also didn’t pass on anything. Best decision we made, I don’t know why I didn’t do it sooner we’re now saving $360 a month. I’ve already recommended Reduce to friends and would recommend Reduce to anyone!
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Great product, great rate, great service!
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!
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David wileyGreater Melbourne (Metropolitan), VIC
- 2 reviews
- 3 likes
Worst experience ever stay clear of these scammers
All up this process took over 2 months every time i tried to talk to my home loan manager it took over a week to for him to return my calls this should have been enough of a red flag but in my stupidity i pushed on i was told no offset acc which i could live with i was told you can b pay from your loan acc set up schedule transfers to other accounts i was told it would have same functionality as any other online banking services not true at all now im stuck with this stupid home loan that has none of the functionality i was promised thanks to t...Read more
he lies and incompetence of [Name Removed] my so called loan manager when i discovered what sort of account they had set up for me i did make a complaint about the lies had been fed i was told this would be investigated and the only way to rectify it was they would set up an off set acc free of charge at the same interest rate that was ten days ago and surprise surprise i have herd nothing no calls no emails and no off set acc the person i spoke to did seem like he had dealt with this issue many times before and new the only way to rectify was by adding an off set so probably a standard practice of their home loan managers to lie to customers and to be completely honest as a matter of full disclosure i am only writing this review at the request of my loan manager for a chance to win a $100 gift card in their monthly drawSimilar opinion? Write a review on ProductReview.com.au!
NHDSydney, NSW
unhappy with home loan manager !
Not happy at all with the customer service that we received from home loan manager (don't want to put his name here). He seemed to be more conscious about his consulting time than finding out best possible options for us. He was handling too many clients that he seemed to forgot us. Anyway, after emailing him couple of times, he finally gave us a borrowing loan amount and asked to upload documents. We uploaded all the required documents in the client portal but after waiting for 3/4 weeks he then emailed us that the borrowing calculator has be...Read more
en updated recently and our borrowing capacity has become much less. Anyway, we agreed to proceed with less loan amount and asked to submit our application to loan assessor. The loan assessor had few questions which I already answered to my home loan manager. Since then I have not heard anything from him. It's been for than 4 weeks now. All in all, 2 and half months gone without getting any result reduced home loan. Later I have gone with another lender and got approval for much higher loan amount within 2 weeks.Similar opinion? Write a review on ProductReview.com.au!
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- Verified customer
A streamlined process with great communication
We first came to learn about Reduce Home Loans through a friend who had read about their impressive and competitive interest rates.
Nick Freney reached out quickly after we enquired.
We were refinancing two loans and borrowed extra for renovations.
We found Nick to be informative, efficient and had a great level of communication. We never had to wait very long for a response or phone call. He was always available when needed.
We had a few issues arise however it was always handled with efficiently by Nick and caused us little stress.
We had...Read more
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Jess Sydney Surrounds, NSW
- Verified customer
A painful process made easy
Nick Freney worked with me on refinancing 2 of my loans
And not did he just get me the best rates possible he also made the process less painful with quick correspondence and step by step updates during the process
That being said they do need to create a banking app
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Very happy.
Everything progressed smoothly. Was kept well informed of progress. Everything that was promised was delivered. They're even passing on the full rate reduction just announced by the RBA. Website is a little clunky but it's not too much of an issue.
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PrashantSydney, NSW
Click and Done
First of all I would like to thanks Bryce. As soon as I showed my interest to switch my loan, he was there to support meat every stage. It was a quick process and everything was settled in a month. The online process is so cool you just need to provide your documents and it keeps you moving towards your approval. The support team is awesome. It was a great experience and I got my best rate.
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Great rates!
They have much lower rates compared to the mainstream banks. I am saving hundreds of dollars on interest per month after refinancing with Reduce Home Loans. Refinancing has definitely paid off.
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ChrisPerth
- 5 reviews
- 1 like
Terrible
it took over 3 months for to finalise my loan. They lost the paperwork twice and I had to supply the same information to different people in the process, multiple times. The fees are far too high and when you ask for a breakdown you dont get a reply or the information. Was meant to receive an email or call to setup my loan with 24-48 hours. After 6 days I have nothing and no-one will reply. Processes are flawed and inconsistent, customer service is terrible and they cant organise or preform a simple task. If it was possible to give you 0 stars I honestly wouldn't hesitate in doing it.
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Adam M.Sydney, NSW
Good rate and responsive service
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.
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SUSANNESouthwest, VIC
- Verified customer
Low rate and well managed process
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.
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Monica VAGreater Melbourne (Outer), VIC
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.
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Perfectly suited to us
The staff were prompt in their responses and factual. We received a great rate with flexibility to pay the loan off early. The system is easy to use. Our only issue - was with the nitpicking repetitive detail of information required throughout the approval process. Once it was approved all went well and we are happy with the resulting service.
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Alex VaisGreater Melbourne (Metropolitan), VIC
Great communication
Great communication and follow up but turn around time was slow from lender. Due to this documentation became outdated and requested multiple times. Great product and fantastic rate. Overall very satisfied with Reduce Home loans.
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Questions & Answers
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 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
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.
I was told exit fees were made illegal from 2011?
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.
1 answer
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.
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