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Reduce Home Loans

Reduce Home Loans

4.2 from 1,013 reviews · View Statistics
Listing monitored by Reduce Home Loans

Reviews

4.1
54 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

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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The reviewer stated that an incentive was offered for this review

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

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
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Evie
EvieSouth East Queensland, QLD
  • 3 reviews

Good!

published

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!

Transparency
5/5
Customer Service
5/5
Application Process
2/5
Timeliness
3/5
Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Alkesh Patel
Alkesh PatelPerth, WA
  • 3 reviews
  • Verified

Real deal....gr8 BIG 4 killer.

published

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.

Transparency
5/5
Customer Service
4/5
Application Process
5/5
Timeliness
5/5
Online Tools
4/5
Loan TypeVariable Rate
Loan Start DateDecember 2019
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

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Michael
MichaelGreater Melbourne (Outer), VIC

Great rate - long process

published

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.

Transparency
4/5
Customer Service
4/5
Application Process
4/5
Timeliness
1/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forRenovation

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Ron F
Ron FGreater Melbourne (Metropolitan), VIC

Well worth the effort

published

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!

Transparency
4/5
Customer Service
4/5
Application Process
4/5
Timeliness
3/5
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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0.0
(1,234)

Highly Recommend

published

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

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forInvestment Property
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Awesome Rate and friendly Service!

published

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!

Transparency
5/5
Customer Service
5/5
Application Process
4/5
Timeliness
4/5
Online Tools
5/5
Loan TypeVariable Rate
Loan used forInvestment Property
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Kevin
KevinGreater Melbourne (Inner), VIC

Quick and easy

published

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.

Transparency
5/5
Customer Service
5/5
Application Process
4/5
Timeliness
4/5
Online Tools
4/5
Loan TypeVariable Rate
Loan Start DateJune 2019
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Other Home Loans

 
 

0.0
(1,234)
Joe
JoeGreater Melbourne (Metropolitan), VIC

Reduce Home Loans

published

The customer service was thorough although the process could have been carried out a little more speedily. When it came to the crunch, Reduce Home Loans delivered. Good interest rate but slow to pass on the cut from the Reserve Bank.

Application Process
4/5
Timeliness
4/5
Online Tools
4/5
Loan TypeVariable Rate
Loan Start DateJuly 2019
Loan used forHome Construction
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The reviewer stated that an incentive was offered for this review

Home Loans

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Rajiv Karnik
Rajiv KarnikSydney, NSW

Best interest rate for investment property loan

published

Customer experience was good, however there is room for improvement. Particularly in the vetting of documents that are initially submitted, as later on the Settlements team / lawyers ask for more documents.

Transparency
4/5
Customer Service
5/5
Application Process
4/5
Timeliness
5/5
Online Tools
3/5
Loan TypeVariable Rate
Loan Start DateJuly 2019
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

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Cheap rates!

published

Not bad service for an online lending agency, a lot of documents were required and a long process but hey it’s cheap and that’s what counts when it’s all set up.

Transparency
4/5
Customer Service
4/5
Application Process
4/5
Timeliness
4/5
Online Tools
4/5
Loan TypeVariable Rate
Loan Start DateMarch 2019
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Very Competitive

published

Great prompt service, email responded to quickly not only for this loan but also other inquiries. Exceptional value for money, the best I could find. Best of all no hassles.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
4/5
Online Tools
2/5
Loan TypeVariable Rate
Loan Start DateJanuary 2018
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

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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