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Reduce Home Loans

Reduce Home Loans

4.2 from 1,015 reviews · View Statistics
Listing monitored by Reduce Home Loans

Reviews

4.1
47 reviews
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Daz
DazSydney Surrounds, NSW
  • 4 reviews
  • 1 like

Great value home loan

published

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.

Customer Service
4/5
Application Process
4/5
Timeliness
3/5
Loan TypeVariable Rate
Loan Start DateAugust 2021
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

Brooke & Brian E.
Brooke & Brian E.South East Queensland, QLD
  • 2 reviews
  • 1 like

Professional and thorough

published

Our broker Nick complete a complicated re-finance and new purchase for us, helping us secure our ‘forever’ home. Was professional, thorough and knowledgeable throughout, and when we got a bit worried the deal might not happen, he kept us informed and calm.

Transparency
5/5
Application Process
4/5
Timeliness
4/5
Online Tools
4/5
Loan TypeFixed Rate
Loan Start DateSeptember 2021
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

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0.0
(1,234)

Great rates and knowledgeable broker

published

I commend Nick as a broker. He was able to explain to me the entire loan process and best way forward given I was refinancing a loan and buying an investment property. His knowledge and expertise was great. This was also tied in with competitive market rates.

The application process is much simpler than it was 5 or so years ago (where it was paper based). It is all completed on an online portal where you can also keep a track on the progress. Was sweating on settlement day. There were minor issues with communication between mortgage solicitor and the discharge bank but Nick along with his colleague were very quick to get on top of it to ensure settlement proceeded smoothly.

Transparency
4/5
Customer Service
4/5
Application Process
5/5
Timeliness
5/5
Online Tools
4/5
Loan TypeVariable Rate
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

Brendan
Brendan Sydney, NSW

Great Loan and Best Rate!

published

Recently settled on a loan with Noel. Was a fairly easy process and with relatively short time frame was able to get loan and approved in time! Thanks Noel for your efforts and sorting out bits and pieces when you were on leave!

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Loan TypeVariable Rate
Loan Start DateFebruary 2020
Loan used forInvestment Property
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Great product, great rate, great service!

published

Great product, great rate, great service! I spoke to numerous providers and Reduce offered the best product and were engaged and proactive in finding the best possible solution. Would use again!

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateOctober 2020
Loan used forInvestment Property

Great experience!!

published

I would like to thank Nick Freney for assisting me to negotiate a better deal with my bank. I sent him an email and he was very efficient, he spent approximately 45 minutes on the phone to find the best options according to my needs, objectives, and financial situations. He is easily contactable, friendly with a warm attitude. He negotiated the best deal very quickly, and I must admit that I am extremely happy with the outcomes, no doubt, he has been exceptional. I would highly recommend his services to anyone. Thank you Nick!!!

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Incentivised Review No
Loan TypeFixed Rate
Loan used forInvestment Property
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Edson S.
Edson S.Perth, WA
  • 2 reviews

Great rate and customer service

published

Excellent customer service, Reduce Home Loans team provided the best mortgage rate in the market. I was paying 4.32% with Macquarie bank and now I am paying only 2.49% with them. Thank you Guys!

Transparency
5/5
Customer Service
5/5
Application Process
4/5
Timeliness
4/5
Online Tools
3/5
Incentivised Review No
Loan TypeFixed Rate
Loan Start DateSeptember 2020
Loan used forInvestment Property

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SUSANNE
SUSANNESouthwest, VIC
  • Verified

Low rate and well managed process

published

Fantastic low interest rate on investment property 2.79% makes it an option you have to consider.
Well managed by the account manager and I was regularly kept up to date. I'm finding it s very hard to be critical as the communication was excellent and my request to change from 45 days to 30 days settlement was accommodated.
Would 100% recommend and I would definitely use again.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Loan TypeVariable Rate
Loan Start DateNovember 2020
Loan used forInvestment Property
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0.0
(1,234)
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

Transparency
4/5
Customer Service
5/5
Loan TypeVariable Rate
Loan used forInvestment Property
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Bao
BaoSydney, NSW

Best rates, very helpful and great support and service

published

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.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Loan TypeFixed Rate
Loan used forInvestment Property
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Real reviews
Real reviewsSouth East Queensland, QLD
  • 4 reviews
  • 3 likes
  • Verified

Exemplary Service Throughout

published

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.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Incentivised Review No
Loan TypeFixed Rate
Loan Start DateAugust 2020
Loan used forInvestment Property

Other Home Loans

 
 

0.0
(1,234)

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

Transparency
4/5
Customer Service
4/5
Application Process
3/5
Timeliness
2/5
Loan TypeVariable Rate
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

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Bazza
Bazza
  • 2 reviews

Great Customer service from Dane & the team. Our loan has settled and with the rate received we are saving $3,000 pa

published

Great customer service.
Costs as expected. Followed Barefoot Investor and went for a vanilla loan with the ability to add or withdraw cash as required.
Very competitive rate from a non-bank lender with no hidden admin charges/fees or annual package costs. Why would anyone go the one of the big four Banks.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateMay 2020
Loan used forInvestment Property
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Great personalised help all the way

published

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.

Transparency
4/5
Customer Service
5/5
Application Process
4/5
Timeliness
4/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateApril 2020
Loan used forInvestment Property
Brad G.
Brad G.Southwest, VIC

Best decision I made in a long time!

published

Nick was fantastic from the start. He took time understand my complicated situation and tailored an approach that allowed me to protect my home, free up some cash while saving a heap on mortgage repayments through a market leading rate.

He worked hard behind the scenes to meet tight finance deadlines, escalating where needed, following up and keeping me informed along the way.
I would definitely recommend after my experience and would give 6 stars if I could!

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forInvestment Property
Page 1 of 2

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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