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Reduce Home Loans

Reduce Home Loans (page 2 of 13)

4.2 from 959 reviews · View Statistics

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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

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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.

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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.

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Jen

JenSouth East Queensland, QLD

Reduce staff are great help

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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
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Petr V.

Petr V.South East Queensland, QLD

Good rates but you might need to wait :)

published

Good points:
The brokers are polite, provide detailed information and easy to reach.
The rates are good.
Negative points:
The process takes around 50% longer than in other banks.
Valuation team requires some babysitting.

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Good rates, professional and easy to setup.

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Broker answered all our questions and was very responsive. Easy to setup and good mortgage rate for first home owner-occupier. All associated costs were listed in the brochures and website.

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Rich

RichMelbourne

  • 2 reviews

Great rate!

published

Customer experience was great and helpful. The lending process was effective and worked with me throughout the process to get the loan complete as quickly as possible. I am satisfied and would recommend this product to friends and family.

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Ian T.

Ian T.Sydney Surrounds, NSW

  • 2 reviews

Great service.

published

I found REDUCE customer service to be prompt and efficient from initial inquiry through to settlement. The lender's mortgage account website is clean and easy to use. I will be recommending Reduce to others.

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Newton K.

Newton K.Sydney, NSW

Best packaged fixed home loan on the market

published

I engaged Reduce home loans because they had the best fixed package home loan for my requirements. I chose the 3 year fixed home loan 2.19%. 100% offset and up to $20k additional repayments per annum.
What more could you want during the Covid-19 economy?

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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

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Kristy

KristyPerth, WA

Reduce Home Loan was pretty good under the current conditions of covid19.

published

Reduce Home Loan was pretty good themselves with the covid19 changes and updates. Being a first home buyer it was a very stressful, not too great communication between all parties and not very organised process. My settlement date was moved twice and lucky settled on the third attempt. The actual loan it's self they offer is a good deal compared to the big four banks but the main banks deal with the first home buyers grant and Reduce Home Loans do not.

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Best customer service

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Anand

AnandSydney

  • 2 reviews

Reliable and Good Service

published

Jacqueline and the team have been very diligent and transparent in providing the details and clarifying my question. Greatly appreciate and thanks the team for their support and patience in finalizing the loan settlement.

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Stuart

StuartPerth, WA

Best variable rate on the market

published

The application was very comprehensive and took about 2 months.
During which the reserve bank reduced interest rates and this was applied to our application in full.
We now have a low upfront cost, no annual fee loan with one of the lowest variable rates on the market.

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Andy Q.

Andy Q.

  • 2 reviews
  • Verified

The best investment loan interest rate in town

published

The application process was straight forward with great assistance from Gary Stimpson. Thank you Gary!
The problem I had was the delays caused by the lawyer who settled the loan. Some documents were not required but later was told they must be completed. They also lost some of my completed documents.

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Mick M

Mick MSouth East Queensland, QLD

Great Low Rate home Loan

published

Great value, low rate loan company. Would recommend if you are able to get everything done yourself. Process took a while from start to finish, but overall satisfied with the outcome. Will be saving 000's over the years now.

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AM

AMSouth East Queensland, QLD

  • 2 reviews
  • 1 like

Awesome interest rate

published

The lowest interest rate that I could find in the market. Fairly professional to deal with. My only grievance is that my rate is higher than what their new customers are getting (although they attempted to get it reduced by the lender). Hopefully, in the long-run, Reduce (or their funders) won't penalise their back book customers like many other lenders in town.

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Great personalised help all the way

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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.

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Sam B

Sam BSydney, NSW

Helpful Staff - (Lisa and Lindsey)

published

Lisa Whitla was very nice to deal with and helped me with the process. It was my first time getting a loan and there were a heap of documents to sort through and it was quite overwhelming. She was very patient with me and helped me get through the initial set of documents.

Lindsey from the settlements team also helped me with understanding some of the terms and paperwork.

I know it was a testing time with COV-ID but all the staff i talked with were very patient and nice.

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Page 2 of 13
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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.

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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