Very Helpful to this First Home Buyer
Dealing with Leon was such a pleasure. I'm a 25 year old first home buyer and I wasn't too understanding of the world of property purchasing. It's good to know that I'm getting one of the lowest interest rates in the country. I was a bit nervous throughout the whole property purchase dealing with the sales agent, solicitors and contracts; but Leon was very responsive in getting back to me and very helpful with all my questions.
Very low rates
I found the customer service very responsive whenever I rang with questions. There were no hidden costs and I could not find a better rate on the market and I looked very hard.
Great experience with reduced home loans. Best rate on the market and the process to get my loan approved was a breeze. Would recommend to anyone who's looking for a home loan.
Excellent interest rates
The service from the broker was punctual and communication was constant throughout the process. The interest rate offered is market leading and the products available are tailored to your needs. I would recommend Reduce Home Loans and go through the process again.
Best interest rates
Reduce have the lowest interest rates and it was a quick process to get approved! Good communication. It was very smooth process. Would do it again if I had to!
Great service and extremely cheap rate
The home loan rate provided was very attractive and is initially why I went with Reduced Home Loans.
I had a short settlement date and was worried it may not be met however the team at Reduced Home Loans was able to complete the application and have contracts ready for my review and signing within 4 weeks.
Best rates and great product!
Great rates, great protal and product. Takes a bit of time to set-up but completely worth it in the end with the cheapest rate on the market! They told me they are working to improve on that so definitely the place to go for a loan.
Was an easy process! Guaranteed lowest interest rates!!
Lowest Interest rate and We save up to $400 monthly:) great customer service and so easy to approach them. Very transparent and no hidden charges. Highly recommended to anyone looking for new housing loan or switching loans:)
Very happy with the intrest rate
Reduce home loans offered me a great interest and comparison rates for buying my house.
Their team is professional and helpful.
The process took more time and complexity than I expected, but the low interest rate compensated the pain of the process.
Excellent deal - making it possible to own our own home!
We are very happy with our awesome deal, low interest rates and the extra effort made to meet our short settlement time. The only reason this is not a 5 star review is while the people and broker are lovely people to talk too we found our broker quite hard to contact at necessary times. This meant our settlement was 3 days late. Thankfully all worked out ok and we are happy with our overall experience so far.
Great help for a first home buyer!
As a first home buyer, the whole process was always going to be daunting. Reduce offered a great service with great rates and options with very happy and helpful team members. We had started going through our pre approval process when we ended up finding 'the one'. As the turn over on houses was so quick at the time (a matter of days), we thought it was the best option to put our offer forward without pre approval. As I had already started the pre approval process, David already had a good idea of what was possibly for us and didn't hesitate wh...en I asked him to write a letter to the real estate and vendor to confirm that the finance shouldn't be an issue. This helped make our offer a lot stronger and I am very thankful to David for this. The only real negative is that I found it hard to get Specific people on the phone. As its a hotline/call center setup, you get whoever was next in line. We could email the person directly however, emails take longer to write so the replies were slower and less detailed. I believe they are currently in the process of changing this. Overall I would highly recommend Reduce home loans. Our approval process and settlement went smoothly and we are now living happily in our new home.
Lowest interest rate available
Reduce offer the best rate around without compromising on customer service. They keep in regular contact with you and help you through every step of the way. The fees are a little pricey but this is more than offset by the amazing rate so if you are looking for a mortgage of over 10 years...look no further.
100% incompetent! 100% disorganised
My partner and I went with RHL because of all the advertising of low rates and recommendations by canstar... what a nightmarish mistake! There was a lack of communication right from the start and they constantly try to make excuses for their slow pace. They raised our loan amount on three separate occasions so now we are borrowing more than we actually need. They tried to delay settlement over a month after the last date that settlement could actually occur. Had to educate them on the illegal nature of changing a contract of sale after it's bee...n signed. We have to apply for a refund of stamp duty because they refused to lodge the application on our behalf. Towards the end of the process we discovered they are actually a broker and NOT a lender like they claim. Even though we're now in our own home we can't exactly relax because RHL have gone quiet on us. Told us client care would be in contact to provide all the extra information like the ACTUAL ACCOUNT SETUP. But nothing, just radio silence. How are we suppose to make extra repayments if we don't have the means to do so? They should be paying us for using their pathetic service! Completely incompetent and disorganised. We have never been this dissatisfied with an experience before. Do NOT use RHL if you are a first home buyer! Edit: we received a congratulations letter... and some basil seeds... basil!
Not a home loan provider, just a broker skimming fees. AVOID.
Reduce pretend to be a mortgage provider but they are just a broker. They provide no transparency on fees or on who the loan is funded with. We were told we had to structure our loan as 2 standard variable loans with no explanation. I now suspect this was to increase their fees. They used Mortgage Ezy for our loan who used Origin Loans who are owned by ANZ. This made it hard to know who to talk to. Our interest rate went up literally within one WEEK of signing and a second time less than 2 months later. Our rate went from excellent to mediocre very fast. We are now trying to sever all ties with these guys and it is taking weeks due to this crazy labyrinthine arrangement. AVOID LIKE THE PLAGUE.
Great Interest Rates!
Great interest rates and surprisingly easy to deal with. Would choose over a big bank any day. No hidden fees and staff were all friendly. I thought having a cheaper interest rate would mean more hassle but that wasn't the case.
Great service and rates
The staff was great taking me start to end getting a good loan but also supporting me throughout the whole process. Tight settlement times were always a worry for me but we made it in time too. Highly recommended.
A hassle but worth it in the end.
They required A LOT more information from me than my previous bank and it was a couple of months of emails back and forth almost daily but it was worth it for the money I'm now saving. The same loan is now costing me $150 a fortnight less so I definitely feel it will be worth my trouble over the life of the loan :)
Also they sent me a kit to grow your own chives as a welcome present so that was a cute touch.
Reduce Home Loans - Good experience, easy to deal with and best interest rate available.
Reduce Home Loans - Good experience, easy to deal with and best interest rate available. Good service from Bryce Stimpson.
Offered different interest rate and loan type options, and discussed with us which would suit best, the forms were not too hard to fill out, instructions were clear and the final setup and settlement went well.
Gave up after 12 weeks. Settlement elsewhere in under 3 weeks.
Quick version - No brainer loan, after dragging on for 12 weeks, despite providing all documents in "fast track" online original process we gave up around 13 week mark & went back to a broker we'd used in Tassie, even though we're in Perth, and they sorted it in 2 and a half weeks. Only a $48 fee for a desktop valuation.
Shout out to Yellow Brick Rd Andrew & Kate
Slow version -We were looking at borrowing 200k which was a third of the property value. We have other property which is valued at about the same as loan (and is owned in full)..s...o no real danger of them being left high and dry. We found the process slow & frustrating. We'd been waiting 3 months even after we submitted all requested paperwork quickly. We were asked to provide quite a number of things which seem unnecessary...bank statements & pay slips 2 or 3 times because they were now out of date as the process had taken so long, redo of verification of Id's because the person who signed shared the same surname as parents (so that is a maiden name and not our surnames) even though we said they are not a blood relative (which btw their forms dont stipulate), letters stating house sale process & settlement docs (despite them having a copy of the title to the property), etc.even signed statements regarding the sale process. We had gone for weeks without hearing a thing from them & it seemed that if you contacted them, they just asked you to jump through more hoops, which weren't there until you hurry them on. We provided all of the initial requested paperwork in full, leaving nothing out but then they keep asking for more and more, which again, we quickly provided. Our loan is a no brainer with us having a perfect credit history. The only flag had been that we had been loaned 140k from parents to secure the property when we moved interstate. We didn't need to do this but it seemed easier & quicker at the time rather than changing state, job, house etc and organising loan on top. Had we known the trouble it would cause here, we'd have gone elsewhere initially. The bank of mum and dad is pretty common these days & shouldn't have us flagged as criminals or something. Customer service is polite when they call but just don't progress things.
Almost lost deposit because their pre-approval means nothing
Takes weeks to respond, doesn't answer the phone to contact the loan manager. Gave preapproval after seeing all our income and paperwork, then rejected the loan without any circumstances changing.
Excellent interest rate
I am really happy about the interest rate . There is no hidden fees . If they do the process bit speed , I would rate definitely 5 star . I already recommended to my friends
Rate is good but customer care is bad
The interest rate is very competitive. Their customer's response is very fast. However, the process took longer than what I expected, and we had to delay our settlement 1 days. Before the settlement, the rate reduced to 2.99%. We were told that the new rate will be passed to us by 15th of Aug but up to today date (08 Sept) we still haven't got the new rate. We contacted the customer care numerous of times and the response we got is they are working on it and the lender haven't approve and they have escalated the queries. It has been almost 2 months of following up and nothing has been resolved yet. Overall, the rate is good but if you have any issue and need support, it's not going to be straight forward.
Thanks Reduce Loans
We had a very helpful staff member (Reese) during the loan application process. He answered all our questions and was easy to get in touch with. He helped us our with application and doubled checked all our documents were correct before we submitted the final application. The pre-settlement team communicated with our settlement agent regarding any issues and the post-settlement team (Cat) were great at explaining each step to commence mortgage payments. Thanks.
Excellent service from the Reduce Home Loans team
Nick was great to deal with, took care of everything for me, Barely had to lift a finger.
Great rates are also.
Very satisfied customer, thank you Nick and Marvin for all your help!
Great rates and great customer service
A great company to set up a mortgage with. The process went very smoothly and our sales rep was always available on the phone (Rhyse Taylor in Brisbane) to answer any questions we had)
We were worried about going with a 'non big 4 lender' bit so far so good and the interest rate is much better than any of the established banks were offering
Questions & Answers
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?
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?
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.
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.
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.
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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