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...

My loan application took weeks. Once pre-approval was provided, I thought things would be OK, unfortunately pre-approval was just the beginning of a very tedious and stressful experience. On more than 3 occasions my "pre-approved" loan was questioned and re-examined by the finance provider with me having to provide multiple supporting documents and explanations. This would have been fine if that was what I was expecting, but unfortunately, it seems that my broker did not understand what was required by the finance provider. Furthermore, it was ...

Great rate for refinancing. Found service a little more complicated than dealing with bank direct. Could be improved by having one consultant providing clear information and returning calls in a more timely manner. Service during settlement was great.

The interest rate is great, one of the best in the market.
The refinancing process took a very long time.
The online banking portal feels outdated and is not user friendly.

My fiance and I sought pre-approval through Reduce Home Loans which seemed relatively easy (although we did have to chase for a couple weeks...) then once our offer had been accepted on our first home it went down hill from there. We had a 30 day settlement timeline and notified RHL the same day with no indication of any issues. Two weeks in, we followed up (and this took three calls and two emails) to find out where we were at in the process and how much longer approval would take to be told we should consider looking for a different provider....

Reduce do have very low rates, but I'd advise any new customers to be aware of the slow application time, and once settlement occurs, to check their transactions very carefully and persist if you think you're missing any funds. My home loan took 3 months to settle, from the beginning of the application process to the actual settlement date, and required a large number of documents to be sent continuously through that entire time period. Then, when the loan finally did settle, I was missing almost $600 from my final balance. Reduce continually d...

good interest rate with offset, nil other application fee. Valuation fee is $250 but will refund to you later, but but $900 discharge fee just too high. Online application so you have to do all the documents yourself. Otherwise its good

The interest rate is very competitive. Their customer's response is very fast. However, the process took longer than what I expected, and we had to delay our settlement 1 days. Before the settlement, the rate reduced to 2.99%. We were told that the new rate will be passed to us by 15th of Aug but up to today date (08 Sept) we still haven't got the new rate. We contacted the customer care numerous of times and the response we got is they are working on it and the lender haven't approve and they have escalated the queries. It has been almost 2 months of following up and nothing has been resolved yet. Overall, the rate is good but if you have any issue and need support, it's not going to be straight forward.

Great rates. It took a very long time to get there but the application is almost complete. Recommended if you want a very low rate and are prepared/able to wait through a long application process.

I went with reduce because of it's low rate which was at the time, the lowest in the market. At the seventh month of having the loan they increased my interest rate separately to the RBA by 0.15%. Even though they were still selling their loans at the same rate I got initially. When I queried it I was fobbed off with the 'line' your loan was funded from a different line of credit and that now costs more but the new loans don't. They then reduced it by 0.05 as my loan was more expensive than UBank and I complained so it was now equitable with UB...

I signed for a loan with a repayment of $605 per fortnight. When I got the paperwork back after settlement the repayment was $651. I was advised the Funder uses different Calculators to the ones on the Reduce Loans site. Completely misleading. If I could afford to get out, I would.

Very misleading, false and unprofessional company!!!!! They advertise great rates with nil fees but deliver higher rates with fees galore.

Let me start by saying they do offer great rates if you are after a simple loan. As far as the positive points go, that's about it.

My circumstances may be different to most as I was trying to refinance three separate loans (ie 3 properties) to the one lender to simplify my finances. This was explained to Reduce from the first time I contacted them. I was told I would receive the great advertised rate...

Rate is lower than you will get mostly anywhere else. The process to get the loan, however, was not straightforward. Significant amount of complicated, hard copy paperwork, then a lot of subsequent to and fro with their solicitor (including physically driving to their office twice to submit paperwork) to get my loan documentation correct (there were errors), meaning that I had to get a settlement date extension.

Can’t really complain now that I have the loan, although the online portal is not as user-friendly as the big banks (e.g. you actually have to call them if you want to reset your password).

If your primary driver is a low interest rate and you don’t mind the hassle involved in the above, go for it.

Took out an owner occupied loan, which took far too long to get finalised, then we were advised of loan being approved, which was just before settlement date. Turns out they processed it as an investor loan, charged a much higher rate and due to lateness of loan, we went through with, in order to settle property. To add further insult, they advise by letter less than a week prior to an announced rate change. You guessed it, a rate increase. To summarise, we took a loan at 3.55%, which ended up actually being 3.77%, now it has increased to 4.02%...

First off although they offer a great rate their service was anything but that. No one actually told me when settlement was, my old mortgage just disappeared from my account. I still haven't received a list of the disbursements. They sent the pin no for the account but no card for 3 weeks!! They don't do fortnightly repayments like they do on their calculators on their sites, which was very frustrating and misleading. They chased us for the loan but when it was done very slack and no attention to detail. Pitty, it's a great product run by not so great individuals.

I was happy when I first signed up to Reduce Home Loans but soon realised that once the RBA starting cutting interest rates that existing customers are discriminated against as opposed to "new" customers. So far Reduce Home Loans have passed on pretty much all the RBA rate cuts to new customers but as an existing customer I have only received partial cuts each time. As of today (15/10/2019) its been 2 weeks since the RBA cut rates by another 0.25%. This was passed on to new customers within minutes however I have received no responses to my ema...

rates low.
refinance process one of the most disorganised and complicated events i have had the displeasure to be part of. Still not complete 2 months later. Hope to close out soon to move on.

Most competitive rates going, customer service was reasonably good. Attention to details could have been a tad better and dealing with many people rather then one focal point throughout the whole process would have made it much easier. Also the valuation fee in WA was much higher then quoted.

Reduce Home Loans was easy to deal with setting up the home loan. The application was slightly confusing and lengthy but was assisted with the loan specialist at the time. The website to manage the home loan is not user friendly and is down many times when I try to access my online account. They dont have an app for that either. This needs to be fixed.

The rates are great BUT COMES WITH A CATCH... they have increased my rates drastically after about 18 months with them and reduce Home Loans still advertise the lower market rates on their web...

After doing some online research I decided to approach Reduce Home Loans. After completing the online questioner I was contacted via the phone and was assigned a mortgage officer who emailed me the information about the interest rates, product specs and etc. Since then I have called the mortgage broker twice and emailed him as well asking for a call back as I had a few more questions. Still haven't been contacted by anyone (Maybe due to Xmas period and they are short staffed)?
I would hate to want to deal with them when there is a real problem...