Great Home Loan Company
Great service, and professional staff. My Broker Jacqueline was fantastic and she went above and beyond to assist me with refinancing my home load. The support staff were also outstanding and took the time to explain each step. Would definitely recommend this Company.
Value for money + good experience with Bryce Stimpson
Just settled. Very attractive rate, and, more importantly, compared to most other low-interest-rate lenders, no LMI required at our LVR. Got an offset account as a bonus.
I'd like to specifically thank Bryce Stimpson, a Reduce Home Loans broker who helped navigate the application process. The process itself is not very transparent or fast since the lender is a separate party that uses third party solicitors and third party funders, with some confusion between them. However, with a good Reduce Home Loans broker, going through the process is not hard, and the result is worth the extra complexity.
Great home-loan rate with great service
The teams are very professional in their approach and patiently assisted with the paper work, clarifying and explaining the process. They are very approachable and provided timely response to my queries, helped me to make informed decision, though there were delay on my end.
Home loan with a good rate and with great flexibility, great customer service
RHL offers a great rate and flexibility with 100% offsets for both fixed and variable rate loans which is exactly what I am after. Customer service has been great. All communications via email and phone was prompt. Always returning my missed calls. The settlement process has completed smoothly, though it took longer than I initially expected. The total process was 6 weeks in total. My only recommendation would be that RHL should consider implementing an online system as a single point to track the entire application process from start to settlement.
Great rates and friendly, helpful staff
It was a pleasure to deal with the team. Despite having all my paperwork in order there was issues with a credit reporting agency providing incorrect information about myself. The team were able to work through it and look at the paperwork showing that the agency was demonstrably incorrect and able to work through this. Several months later the agency is still yet to correct their records and I have initiated a complaint against them with the regulatory body. Meanwhile my loan with Reduce is ticking along nicely.
This is the second time i have refinance with Reduce Home Loans. Aside for giving us a very competitive rate, the one which i really liked about is the customer support. Noel Costca was very prompt on providing me the information i needed all through out the process of refinancing until settlement. Even after hours if i needed to get some key details he will still respond to my text message. I even recommended Reduce home loans to my friends. Give it a go.
Reduce Home Loans
Reduce Home Loans were recommended by Scott Pape (Barefoot Investor) as one of the best value, lowest rates and award winning loan companies currently on the market. We liked the idea that they were NOT one of the big 4 who have been ripping off borrowers for decades.
I searched many loan comparison sites and none came up with better deals that Reduce Home Loans. Our consultant, Rhyse, was professional in every aspect of the process. The process of changing lenders went smoothly and efficiently and even better was that we didn’t have to deal with our old lender at all.
If you’re looking for a new loan at a great rate with all the inclusions you need, give Reduce Home Loans a try.
Best packaged fixed home loan on the market
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?
Good rates but very inflexible and terrible service. Would not recommend for new customers.
Currently with reduce on an IO investment loan. (reduce/mortgage ezy/origin money and who knows who else is involved in this terrible operation)
Requested an equity cash-out back in March which would have pushed our LVR from 65% to 74% and still no confirmation on whether it is happening after repeatedly having to get documents certified and witnessed only for them to expire so had to go through the same process multiple times without progressing any further. Dealt with a "customer support" team based overseas and Gary Stimpson who promises th...
Most reviews here are from people who have ""just"" signed up.
Reduce Home Loans put 'all' their effort to suck you in, and none after that, so yes the sign up experience and rate will be good at the start. Later is a different story and you realise you've been taken for a sucker.
Then slowly and gradually they erode any fair privilege you are due. Again, taking from you and giving all of it to 'new' customers to entice them to sign up. Check out the 'new customer' rate - almost 50 basis points lower than existing customers on variable rates. ...
Reduce Home Loan was pretty good under the current conditions of covid19.
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.
- Verified customer
Best rates and easy process
Gary and the staff were awesome and helped me with any questions I had. Took about 1 month from start of the application to settlement. Could have been quicker really if i was on the ball with returning documents and stuff. Really happy with the rate im on.
Best customer service
Lisa Whitla was extremely supportive throughout our borrowing journey. We have applied for land and constrruction initially and I have asked 100 questions about it. Due to COVID-19 our plans changed due to building and construction taking longer than normal in that period and we switched to another property halfway through and I had another 100 questions about that purchase. I have no words to say Thank you- (1000 times) to Lisa Whitla who was so much suportive, quick responsive and always greeted with me a welcoming tone over the phone. She h...as explained all steps, costs, process and finalisation of our loan application. She was available both over the phone and email. Reduce home loans also offers you much competitive rates as compared to another lenders and provide same quality service. If I will borrow in future, I will use Reduce Home loans and Lisa Whitla as my broker. Your speedy responses & ongoing support with finalising the loan are greatly appreciated.
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.
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