Best rates, very helpful and great support and service
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.
Easy to deal with
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!
Best rates, lots of options, personalised offerings
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
Good rates but you might need to wait :)
The brokers are polite, provide detailed information and easy to reach.
The rates are good.
The process takes around 50% longer than in other banks.
Valuation team requires some babysitting.
This was our second application with Reduce Home Loans, again great rate and supportive customer services. A big thank you to Dane, the Personal Finance Manager for my case and to the Settlement Department team.
Good service, fast, responsive, knowledgable
David was helpful and easy to deal with, responsive and answered questions promptly.
I had a few challenges with meeting the approval criteria, and David helped me identify the simplest and easiest way to meet those requirements, ultimately allowing me to settle without having to endure any extra costs or delays.
wow! great to find a great customer service bank...just a fantastic experience from start to finish. Tough economic environment did not stop this deal progressing quickly. well done
Great home loan rates & no fees
We looked into numerous lenders & found Reduce had a great rate & no fees. We switched to Reduce & made significant savings each fortnight that is now going directly toward reducing our debt faster. Lisa helped us through the process which made it easy to switch.
Good rates, professional and easy to setup.
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.
Excellent Service & Great Rate
We refinanced with Reduce home loans and got a fantastic fixed rate deal. We were assisted by Jacqueline who was amazing throughout the entire process and always kept us updated on the progress and was happy to discuss any questions or queries we had. We ended up getting a low property valuation however Jacqueline helped us challenge it and we got it revised up. The home loan application and approval took a few short weeks, we were then handed over to mortgage ezy & galilee solicitors for settlement. Not very impressed by Galilee (didn't take the time to explain anything and the communication was very poor), but highly recommend Reduce Home Loans
Low rate home loan, friendly service!!
I was referred to reduce home loans by a friend who also had a very positive experience because my fixed term with another bank was nearing its end and they were not going to offer me anything close to what reduce home loans could. So after a little research I gave them a call! The application process was simple, and there was a broker There to explain everything and help me fill in those tricky and daunting Forms!
I would HIGHLY recommend reduce home loans to all my friends and family!
Exemplary Service Throughout
We were managed by Lisa Whitla from the outset and throughout the process for our investment properties. Lisa was exceptional with her service, follow-ups and assistance for any question. Even the questions we wanted clarification from the credit team, Lisa would mediate this in a very timely manner. Pre-approvals and formal approval periods are a matter of urgency and transparency is very important also (which is a rare commodity), Lisa also viewed these matters the same.
I would recommend Reduce for not only the Great rates for investment properties but also the service given, this makes it a smooth, stress free process (as much as possible) from what we have endured with other providers.
Highly recommend Lisa and the Reduce team.
Very happy customer
Reduce Homeloans was recommended to me by a work colleague. I compared interest rates with my bank and theirs. After discovering that I was paying a much higher rate I went back to my bank and asked for a better rate. After being a customer for over 20 years they still could not match the rate Reduce Homeloans was offering me.
I decided to make the switch from one of the big 4 banks and the process could not have been easier.
I was guided throughout the whole process and was continually kept informed of how the application was going.
The only thing I regret is that I didn’t make the switch to them earlier. I highly recommend everyone talk to Reduced Homeloans if you are looking for a new home loan or wanting to switch lenders.
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.
Ridiculously time consuming process leading no where
After nearly 5 month process of applying for home loan refinancing with this loan broker, (yes they are online loan broker) I gave up. I had to continuously sending updated payslips, and bank statements every 3 weeks over these 5 months, countless number of email exchanges and files to send. They are very quick at the begining to book a property valuer and charge you for it . By doing this they lock you into a rediculous long process. I gave up at the end and went with another face to face loan broker and my re finance got approved within 5 weeks.
Very happy customer from 3 years!
Started with fresh loan with lowest rate and again dealt with my finance manager Noel for refinance at lowest rate in the market. Flawless experience, great support, great online platform, peace of mind.
Best home loan rate
We switched to Reduce after doing extensive research on getting the best home loan rate. They were incredibly friendly, professional and responsive each time we contacted them, and offered the best home loan rate so it was a no brainer in the end. Switching home loans can involve a lot of paperwork which initially was a deterrent for us, but they prepared everything we needed and helped us with any questions we had, making the profess less painful. And now we are saving money!
Got a wonderful fixed rate. Happy with the service provided to settlement and with the online banking system. Switched lenders to Reduce to save money. Have achieved that. Thanks Reduce.
Great people, slow process
The team at Reduce have been good to talk to and did their best to pick the right loan for us. However the process has been extremely protracted, even allowing for COVID-19 impacts. We first signed our application on April 24, and as of today (15 weeks later) we have not yet achieved settlement on the loan.
We have had to ask for updates in order to understand where things were up to, with at times a month going by without any news on what was happening. Given the protracted duration, it has been necessary to re-furnish new copies of documents...that were previously supplied (for example a more recent payslip or statement) which has been a source of frustration. Ultimately this new mortgage product will be much better for us, so this process will be worth it, but there has been significant opportunities that were lost to us as we waited (and continue to wait) for the loan to settle.
Changed lenders to 'Reduce Home Loans'
We were very happy to change lenders over to Reduce Home Loans. Nick and his team were very helpful with our queries and always responded in a timely manner. This is the first time that we have done the paperwork ourselves without a Broker (which we were nervous about) but thanks to Reduce Home Loans the transition went smoothly. We are saving a very decent amount $$$ on our repayments thanks to a market leading rate and couldn't be happier!!!
Chasing simplicity and a refined home loan? Reduce Home Loans is where you need to start.
The call centre was amazing, so quick to respond to my queries and if they didn't know the answer they contacted me and emailed me with the answer. Lindsay managed my case and saw the whole process through from end to end, she always provided an answer within the timeframe that she quoted. In the end I came out with a no fuss-low rate loan, no bank non-sense just a good honest product. No one needs the fluff that banks carry on with, if you're chasing simplicity and a refined home loan - Reduce Home Loans is where you need to start.
Jacqueline and Joel were very helpful with the whole process.
A little more work involved because of dealing online, no branch available.
Well worth it with the money you save.
Took about 8 weeks all up.
Customer service was spot on, My broker Dane helped me through every step of refinancing and made it very easy. Reduce have very competitive rates and I don’t know why i didn’t do it earlier
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.
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!
Get an answer from our members and Reduce Home Loans representatives
Other Home Loans
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.