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Reduce Home Loans

Reduce Home Loans

4.2 from 1,024 reviews · View Statistics
Listing monitored by Reduce Home Loans

Reviews

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Kevin F.
Kevin F.Greater Melbourne (Inner), VIC

Best rate, quick and efficient process

published
Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Loan TypeVariable Rate
Loan Start DateNovember 2021
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

Greg C.
Greg C.Sydney Surrounds, NSW
  • 2 reviews
  • 1 like
  • Verified

Sliding door moment

published
Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Loan TypeVariable Rate
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

Daniel
Daniel
  • 2 reviews

Got exactly what was promised

published

We got a great deal on our home and investment property loans. Bryce guided us through the application process which was quick and straight forward. We had a great customer service experience throughout the process.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Loan TypeVariable Rate
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

fyrefli
fyrefliSydney, NSW

Best rates out there!

published

The refinance process was lengthy and there were a few hiccups with settlement that were stressful, but our finance manager Leon was great, always responded quickly and sorted out all the issues in the end, and was def all worth it to get such low interest rates, we are now saving over $1000 per month from our previous loans! Super happy we made the switch.

Transparency
5/5
Customer Service
4/5
Application Process
3/5
Timeliness
3/5
Loan TypeVariable Rate
Loan Start DateSeptember 2021
Loan used forRefinancing
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The reviewer stated that an incentive was offered for this review

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Clera
CleraSouth East Queensland, QLD
  • 2 reviews

Amazing Rates and Service!

published

I have a low credit score and they helped me find a loan with a great interest rate! Overall process was super easy and they gave me peace of mind and it was the most stressless loan application process I have been through! Couldn’t be happier! Thank you!

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateJuly 2021
Loan used forSecond Home
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Great service, Single point of contact

published

I dealt with Leon from start to finish and his service back to buy his team was great. Despite having a complicated refinancing package the team were able to exceed my expectations by offering me an even lower rate product than what I had requested for.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Loan TypeVariable Rate
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

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Todd
ToddSydney, NSW
  • Verified

Great service

published

Great service, easy process. I've had loans done through brokers before and the process through reduced was the easiest I've had by far. Would definitely recommend to anyone looking for a good low home loan rate.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
3/5
Loan TypeVariable Rate
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

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Paige
PaigeSydney, NSW

Competitive!

published

Reduced Home Loans gave us a competitive rate when we restructured our loan. The process was very smooth and stress free. The customer service we received from our broker was great, although he was a bit tricky to get hold of at times, he always returned our calls eventually. We knew the cost of restructuring from the beginning and there were no hidden fees.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Loan TypeVariable Rate
Loan used forHome Construction
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The reviewer stated that an incentive was offered for this review

Great homeloan

published

Was an easy process to get this mortgage everyone at Reduce were very helpful and worked hard to get things in place even with a reduced timeline.
The website is basic but has all the function you need
The rate is unbeatable and will save me $1000's :-)

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Loan TypeVariable Rate
Loan Start DateAugust 2021
Loan used forFirst Home
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Daz
DazSydney Surrounds, NSW
  • 4 reviews
  • 1 like

Great value home loan

published

From pre approval right through to the settlement Jackie from Reduce home loans keeped us update during every step. We did have some issues due to current lockdown in NSW but would still highly recommend them for a loan.

Customer Service
4/5
Application Process
4/5
Timeliness
3/5
Loan TypeVariable Rate
Loan Start DateAugust 2021
Loan used forInvestment Property
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Refinancing

published

Most competitive home loan comparison rate I could find at the time of refinancing. People need to start looking into online lenders as they offer far superior options to the major banks.

Application Process
3/5
Loan TypeVariable Rate
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The reviewer stated that an incentive was offered for this review

Maria D.
Maria D.Sydney, NSW
  • 2 reviews
  • 3 likes

Best interest rate for our needs and easy to deal with

published

Dane at Reduce was fabulous to deal with. He was fast to respond to our requests and worked hard to obtain the best rate. We have used Reduce previously and didn’t hesitate to return for a second loan a few years later. I have so far referred them to a few mates.

Customer Service
5/5
Application Process
3/5
Timeliness
5/5
Online Tools
3/5
Loan TypeVariable Rate
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

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I found the staff friendly and accommodating, with nothing being to much to ask.

published

I found the staff friendly and accommodating, with nothing being to much to ask.

I received VIP treatment from them. Nick, 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. Nick 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
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Loan TypeVariable Rate
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Christian Lim
Christian LimGreater Melbourne (Metropolitan), VIC

Best Interest Rate I could find together with an offset account. Excellent service. No ongoing fees.

published

Reduce Home Loans have been great from the beginning. Nick our lending manager was excellent. I was able to get the best interest rate that I could find including an offset account.
The paper work took a bit of time to get through but it's paid off since I've settled my loan. I've been able to call for help whenever I needed it. There were a few steps to get through but I won't need to go through this refinance process for a while now that I have a very low rate and no ongoing fees and an offset account. If you want the lowest rate in the market with or without an offset account give these guys a call and then see how they compare to other banks. You may end up going with these guys just like I did.
Christian

Transparency
5/5
Customer Service
5/5
Application Process
4/5
Timeliness
4/5
Online Tools
4/5
Loan TypeVariable Rate
Loan Start DateAugust 2021
Loan used forRefinancing
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The reviewer stated that an incentive was offered for this review

Rob B.
Rob B.South East Queensland, QLD

They have unbeatable home loan products

published

They have great home loans, I would have given them 5 stars if they were a bit quicker, but now that we've refinanced through them we're very happy. So I still gave them 5 stars despite the timeleness as I would highly recommend.

Transparency
4/5
Customer Service
4/5
Application Process
5/5
Timeliness
3/5
Loan TypeVariable Rate
Loan Start DateMarch 2021
Loan used forRefinancing
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The reviewer stated that an incentive was offered for this review

Page 1 of 10

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!

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