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Reduce Home Loans

Reduce Home Loans (page 2 of 46)

4.2 from 908 reviews · View Statistics

Reviews

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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
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Chris

ChrisPerth

  • 5 reviews
  • 1 like

Terrible

published

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.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
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Communication was good

published

- Our representative was available when needed with flexible times to suit my working hours
- The interest rate did increase from the original rate provided on two occasions throughout our application process in .1% increments, with a total .2% increase from original rate provided, which wasn't ideal

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateSeptember 2020
Loan used forRefinancing
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The reviewer stated that an incentive was offered for this review

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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
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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
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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
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The reviewer stated that an incentive was offered for this review

Perfectly suited to us

published

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.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateAugust 2020
Loan used forRefinancing
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The reviewer stated that an incentive was offered for this review

Alex Vais

Alex VaisGreater Melbourne (Metropolitan), VIC

Great communication

published

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.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateAugust 2020
Loan used forRefinancing
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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
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The reviewer stated that an incentive was offered for this review

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Keith

KeithSouth East Queensland, QLD

Provided a real home loan option

published

Reduce home loans were quick to provide service and keep in contact with us throughout the process. Documents were provided promptly and they were up front with setting our expectations on what we could afford. We received an interest rate that was far better than the our previous provider.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateAugust 2020
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The reviewer stated that an incentive was offered for this review

Great rate with great service!

published

I think my title says it already :-)
Rate was best I could find and service very good. Im sure you always hope faster but speed was still not definitely any slower than my previous experience

Incentivised ReviewNo
Todd

ToddMetropolitan Adelaide, SA

  • 2 reviews

Straight Forward and Great outcome

published

Refinancing with Reduce was a positive experience. The application process takes some time as it is very comprehensive but the outcome warrants the effort. I reduced my rate to the lowest on the market.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateJune 2020
Loan used forRefinancing
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The reviewer stated that an incentive was offered for this review

Great product.

published

We went with Reduce because they were the most competitive. The application process overall was a little lengthy, but other than that, I could not fault them. The service was very responsive and the product was exactly as stated. Very happy overall.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeSplit
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Such a great low interest loan

published

Great customer service, fantastic product, great rate. No hidden surprises. If I want to be really pedantic I could complain that redraws take a day or two to be in my account but everything else makes ya for it by far.

Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
See all answers

The reviewer stated that an incentive was offered for this review

Great Lender

published

Great lender. Everything was done well, promptly and we had a great experience. Our loan was approved within a week and there was constant communication regarding the application. Highly recommend.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
See all answers
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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
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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
See all answers
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
See all answers

The reviewer stated that an incentive was offered for this review

Amber

AmberGreater Melbourne (Inner), VIC

  • 2 reviews

Easy to deal with

published

Reduce home loans was easy to deal with. My broker Lisa was always available to answer any questions I had and always available to contact. Although there was a lot of paperwork needed, she talked me through everything. The interest rate is quite competitive. So far so good!

Loan TypeVariable Rate

The reviewer stated that an incentive was offered for this review

Igor V.

Igor V.Sydney Surrounds, NSW

  • 2 reviews

Best rates, lots of options, personalised offerings

published

We had a great broker helping us (Rhyse Taylor), he first listened to what we were after and our current situation before offering us various products that met our requirements. We were guided through the process to make our own decision. The fees were as explained to us, so there were not bad surprises. I would recommend Reduce Loans and Rhyse to anyone who is looking to get the best home loan deal for their specific circumstances

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateAugust 2020
Loan used forRefinancing
See all answers
Page 2 of 46
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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.

1 answer
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.

Get an answer from our members and Reduce Home Loans representatives

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