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Reduce Home Loans
Refinancing made easy
Gary and his team were very accommodating throughout the process and always kept us up to date. The rate we received was great and was reduced during our application.
During Covid time the online process was very suitable and worked well.
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Michael H.Greater Melbourne (Inner), VIC
Great customer service and got the rates we wanted
Getting a good and competitive rates was high on our list and we found it with Reduce Home Loans. From the initial application right through to settlement the whole process with smooth and transparent thanks to the help from Jacqueline. We got the loan approval now and couldn't be happier.
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Rowena Greater Melbourne (Metropolitan), VIC
- Verified customer
Happy with service
Great rate and timely in settlement. Happy with service.
Love the new digital way of completing application and identification check, make the whole process quicker and easier.
Highly recommended for the low rate and digital process.
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Good rates and Jacqueline was excellent
Good rates and Jacqueline was excellent. The approval process took a while but once it was approved we are very happy with the interest rate and post approval support experience.
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Very happy.
Everything progressed smoothly. Was kept well informed of progress. Everything that was promised was delivered. They're even passing on the full rate reduction just announced by the RBA. Website is a little clunky but it's not too much of an issue.
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Communication was good
- Our representative was available when needed with flexible times to suit my working hours
- The interest rate did increase from the original rate provided on two occasions throughout our application process in .1% increments, with a total .2% increase from original rate provided, which wasn't ideal
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Monica VAGreater Melbourne (Outer), VIC
Easy & fast
As a FHB I was quite stressed about the loan application process and deadlines. David got my loan pre-approved and final approved within less than one month! He also helped me negotiating a rate and package suited for me. Thank you! I found the process quite simple, easy and smooth. Definitely recommend.
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Perfectly suited to us
The staff were prompt in their responses and factual. We received a great rate with flexibility to pay the loan off early. The system is easy to use. Our only issue - was with the nitpicking repetitive detail of information required throughout the approval process. Once it was approved all went well and we are happy with the resulting service.
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Alex VaisGreater Melbourne (Metropolitan), VIC
Great communication
Great communication and follow up but turn around time was slow from lender. Due to this documentation became outdated and requested multiple times. Great product and fantastic rate. Overall very satisfied with Reduce Home loans.
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SssQueensland
4 stars!
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
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KeithSouth East Queensland, QLD
Provided a real home loan option
Reduce home loans were quick to provide service and keep in contact with us throughout the process. Documents were provided promptly and they were up front with setting our expectations on what we could afford. We received an interest rate that was far better than the our previous provider.
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Great product.
We went with Reduce because they were the most competitive. The application process overall was a little lengthy, but other than that, I could not fault them. The service was very responsive and the product was exactly as stated. Very happy overall.
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JenSouth East Queensland, QLD
Reduce staff are great help
I chose Reduce because their rates were the most competitive, but be prepared to submit a lot more documents than other lenders, and multiple times if the process gets drawn out. Otherwise, the service I received from Jacqueline from Reduce Home Loans was fantastic. She was very helpful, even helping me to change to a lower interest option with a higher LVR midway through the application at my request and gave regular updates on how my application was progressing since my case was unique. All while she was very patient and thorough and answered...Read more
my many questions. However, I would ask the lender (mortgageez) to avoid using Galilee in future as their solicitors, since their communication was poor and unprofessional, if they had spent the time to explain what needed to be done ahead of time it would not have drawn out the time to settle. The settlement day got delayed twice as a result, and the second time was because they miscalculated the shortfall!Similar opinion? Write a review on ProductReview.com.au!
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AmberGreater Melbourne (Inner), VIC
- 2 reviews
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!
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Petr V.South East Queensland, QLD
Good rates but you might need to wait :)
Good points:
The brokers are polite, provide detailed information and easy to reach.
The rates are good.
Negative points:
The process takes around 50% longer than in other banks.
Valuation team requires some babysitting.
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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.
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RichMelbourne
- 2 reviews
Great rate!
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.
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Ian T.Sydney Surrounds, NSW
- 2 reviews
Great service.
I found REDUCE customer service to be prompt and efficient from initial inquiry through to settlement. The lender's mortgage account website is clean and easy to use. I will be recommending Reduce to others.
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Newton K.Sydney, NSW
Best packaged fixed home loan on the market
I engaged Reduce home loans because they had the best fixed package home loan for my requirements. I chose the 3 year fixed home loan 2.19%. 100% offset and up to $20k additional repayments per annum.
What more could you want during the Covid-19 economy?
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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
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Questions & Answers
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 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.
2 answers
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.
I was told exit fees were made illegal from 2011?
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.
1 answer
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.
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