Great value home loan
From pre approval right through to the settlement Jackie from Reduce home loans keeped us update during every step. We did have some issues due to current lockdown in NSW but would still highly recommend them for a loan.
Worst experience ever.. Do not go with them!
From the get go it was slow and very laid back process from this organisation. No one cares about your finances, deadlines, or any other commitments that you made by purchasing a property. Paid twice
For the valuation of 2 properties and I was asked to pay again.
No follow ups! No customer service and no intervention of management to expedite the process.
No advise on what rates you’re getting, what offers you’re getting and you can’t even see anything online or any application process updates.
Please please stay away!!! Unless you have 2 months to 3 months to wait for the loan to get approved.
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
Reduced interest rate
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
Such a delay in getting the loan
Took 5 weeks to hear requesting for another 3 weeks when they promised me can get it done in 4 weeks initially. Requesting sign a disclaimer letter of not responsible for delay interest, but never thought about your work in delaying the loan will cost big money to the borrower.
Be sure to have 3 months settlement time before considering this company. Good interest rate, but with a price to pay. Do your own maths if it worths it.
Great personalised help all the way
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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Saved heaps! Great customer service, lovely people and quick phone pickup! Only downside is the loan docs are more painful than from my bigger bank. But well worth the pain!
Real deal....gr8 BIG 4 killer.
Gr8 dealing with Reduced homeloans when was going through difficult time for land settlements matters, but they speed up process to next level and finish it.Prompt responses all the time.
Great rate - long process
Great rate and good communication throughout the application/approval process. Took a really long time from first contact to settlement (3 months) but now that it is done I am happy we made the move.
Well worth the effort
A very helpful and attentive experience - at times a bit of a slow process but well worth it due to the low interest rate:) I'm glad I stumbled across Reduce Home Loans!
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Keep away from this mob!
Terrible customer service. Very hard to get any information from anyone. A good rate quickly drifted to a terrible rate and was made virtually impossible to change. Refinancing with another organisation will be the best $875 I have ever spent. (Despite being told initially there would be no discharge fees). This mob will cost you $$$ in the end.
Nightmare - worst experience so far
Thoroughly unprofessional and unscrupulous bunch of mobs. Finally received loan approval today after countless follow ups and resending documentation multiple times over the lengthy processing period of over 3 months. Alas, the approval is full of errors completely ignoring our finance requirements and the required loan structure which we advised in our loan application and subsequently on multiple occasions. In the meantime, we have been paying interests on our titled land awaiting construction which is pending finance. What a nightmare! So so...rry I approached RHL. ** Update 22/11/2019: The saga still continues not knowing when it'll end. Feels like we're stuck, helpless - going 2 steps forward and then 3 steps back. Finally, received loan contract about 2 months ago, again with several errors needing corrections, reissues and then more corrections, reissues ... 3rd round so far and still awaiting. Such a pain, not to mention about the financial losses due to these delays. Nobody seems to care! :( ** Update 30/05/2020: Finally our loans settled back in December 2019, however, not without surprises. No one bothered confirming the settlement date, we only found out from our outgoing lender. They completed the settlement without confirming the settlement figures/disbursement advise prior to the settlement. We subsequently found various anomalies including unauthorised transfer of fund between investment/construction and owner-occupier loans. Nightmare continues. Just shocking !!!
Reduce Home Loans have been so easy to deal with and their follow up has been wonderful. Highly recommend them. Very competitive interest rates and great customer service from Bryce
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Awesome Rate and friendly Service!
If your looking for a great rate, you cannot go past Reduce Home Loans. No nasty fees either. Their customer service was good and friendly. Only downside, I had to chase them up a few times, but they always got back to me eventually.
The rate was awesome and they also offered no application fee on the loan saving me hundreds!
Very satisfied customer, thank you Reduce Home loans!
Quick and easy
Excellent service, professional staff, help was always available for any queries.
No hidden costs and refund of valuation
Very competitive rates
I would definitely recommend this company as this is the second time I have used them and both times went very smoothly.
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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