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Reduce Home Loans

Reduce Home Loans (page 3 of 48)

4.2 from 959 reviews · View Statistics

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Smooth process from start to finish

published

Started the process in late 2020 to refinance to a better rate. Company reps very responsive despite it being a very busy time. Very smooth process with clear instructions along the way. Costs were detailed up front and there was nothing unexpected. Disappointed in the convenience of redraw being web-only - no app. But otherwise very happy with the process and the final rate!

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Scott

ScottGreater Melbourne (Metropolitan), VIC

Great rate.

published

Reduce home loans offer a fantastic home loan rate which is far better than any of the big 4 can offer. The process of getting all your documentation can be a bit tedious but the reward of a great rate at the end of it is worth it. Customer service was always able to get through to them really quickly when needed. Would recommend Reduce.

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Melanie

MelanieSouth East Queensland, QLD

Made the refinancing process seamless !!!

published

Great customer service. Prompt responses to our questions. No unexpected costs. The rate we received is fantastic. Very helpful when it came to changing the date on which our monthly payment is made.

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Excellent service

published

Reduce home loans provided excellent service and were very helpful with any questions I had. They provided the best rates and features that I could find any where in the internet. They had excellent communication and will definitely be recommending to friends and family

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Sam R

Sam RSydney, NSW

  • 3 reviews
  • 1 like

Love the best rate in all over Australia

published

Process was well explained and easy to follow. Rhyse guided us all the way through, he was just an email away, attended to our inquiries almost immediately . I wouldn’t hesitate a single moment to recommend Reduced Homeloan to my family and friends.

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Philip H.

Philip H.Perth, WA

Good rates

published

Good customer service Good experience with Interest rates and low fees. While the rate is great but the only con was it took to long to process the application taking three months

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Julianok

JulianokGreater Melbourne (Metropolitan), VIC

Good service with a great rate

published

Good experience with Dane rate is great but the only con was it took to long to process the application and we had to submit payslips 3 x times along with other info due to this, very frustrating.
Mezy account setup was not explained to us, the wife and I have sperate accounts and can not pay/transfer money without the other authorizing it first, what an inconvenience to us for paying bills etc and was told this is the only option that you have! Due to this we will be finding another bank that makes it easier for us to do our everyday banking while controlling the mortgage also and they have no app in this day and age why?!

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Easy transaction

published

Friendly staff that are more than happy to help any way they can.
It was an easy change over and a very competitive rate.
reduce took care of everything.
We would highly recommend reduce home loans

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loan

published

My Husband and I got loan from Reduced Loans, we can only but recommend them, everything was clear and easy, no additional costs, It would have been nice if we did not have to pay valuation fee

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Harpoon H.

Harpoon H.Greater Melbourne (Inner), VIC

Competitive rates secure web site

published

Pro : Good competitive rates . Origin funder loan with 4k cashback ( Higher rates with Bendigo). Secure banking site with 2 step authentication ( powered by ANZ). Free redraw . Con: Settlement took 5 months from initial approval due to complexity and miscommunication with funder Origin. Origin only allows max daily withdrawal of 5k electronically or up to 10k with a written request from either redraw or offset accounts.

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Anonymous

Anonymous

  • 10 reviews
  • 1 like

Competitive interest rates, great customer service

published

The interest rates are some of the lowest in the market, after a number of years they tend to never be as low as the rate you enter but they did offer an internal re-finance to secure a better rate without moving to another mortgage provider

Customer service through mortgage ezy / MEZY is excellent, I've never had an issue there.

The fees to discharge/open a mortgage are relatively high so worth keeping in mind, overall I would recommend this provider

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Simple refinancing and a very competitive rate

published

The end to end refinancing process was as simple as it gets in the world or mortgages. Gary and his team were quick to action things on their side and get back to me, friendly and streamlined the process.

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Cheapest Variable Rate Available

published

Reduce Homes Loans and Noel Cosca and the team very great. Process was easy and settlement occurred on time. Highly recommended and have no problems in referring anyone who wants a cheap interest rate and an easy process to achieve this objective.

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Refinancing made easy

published

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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Michael H.

Michael H.Greater Melbourne (Inner), VIC

Great customer service and got the rates we wanted

published

Getting a good and competitive rates was high on our list and we found it with Reduce Home Loans. From the initial application right through to settlement the whole process with smooth and transparent thanks to the help from Jacqueline. We got the loan approval now and couldn't be happier.

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Rowena

Rowena Greater Melbourne (Metropolitan), VIC

  • Verified

Happy with service

published

Great rate and timely in settlement. Happy with service.
Love the new digital way of completing application and identification check, make the whole process quicker and easier.
Highly recommended for the low rate and digital process.

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Refinancing - Reduce Home Loan

published

Great customer service and easy to follow process when it came to refinancing our home loan. Process was all done online and the teams were quick to follow up or let us know when items still required action.

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Good rates and Jacqueline was excellent

published

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 Carron

Paul CarronGreater Melbourne (Metropolitan), VIC

  • 4 reviews

One of the best for rates and cashback and excellent customer service

published

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.

published

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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Page 3 of 48
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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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