Good out come all parties need patients in the refinancing process over all we were satisfied clients.
Reduce Home Loans live up to their Name
Working with Gary & Andrew & Jet in there in there parts of our loan process by being team players well done guys see yous in the future for further service
Great rate & customer service
Great rate, one of the best in the market. Good customer service from Lisa was a bonus. This is the second time I’ve gotten a mortgage with Reduce and it’s been a pleasant experience again.
Low interest rate good service
Good customer service and plenty of opportunities to ask questions and clarify my queries. Easy process to follow and best rate I could find. I'm glad I changed from one of the big four banks.
Competitive rate and good customer service, though eventually contracts out a different company which is less ideal
Cheapest/most competitive rate I could find in the current market, and they have generally shorter timeframes for approvals than the big banks. My contact at Reduce Home Loans (Nick Freney) was friendly, responsive and helpful, and made me feel genuinely valued.
Only issue was that, after the loan is approved, Reduce contracts out a separate company called MortgageEzy, who uses Gailee Solicitors for conveyancing. My solicitor had difficulty working with Gailee Solicitors to get our property settlement over the line, finding them to be poor c...ommunicators and disorganised. For example, Galilee asked for an urgent payment from me on our settlement day, without first checking with my solicitor (who had already arrangement payment of the requested fee) - while my settlement still occured that afternoon, and Galilee did ultimately provide me with a refund, this caused much stress for my solicitor. Customer service at MortageEzy has also been relatively poor to date - I have found they have not answered my questions adequately (though to be fair it is still early days into my loan, and my helpful contact at Reduce has offered to help chase things up). Overall, my experience with Reduce themselves has been postive. I would have appreciated more transparency from them about their relationship with MortgageEzy, since I didn't expect to eventually be dealing with a different company.
Great rate. What more do you need?
Pretty happy with my refinance. Originally had a pretty good rate but after switching I'm now getting 1.89% with only minimal fees incurred. One downside is the $500 fee that I'll have to pay to exit the mortgage which of course they didn't tell me about until way into the application process. Redraws are however easy as is their website. Very basic, but that's a good thing as far as I'm concerned.
low loan rate with cashback program
With the help of loan manager from reduce the process from loan preparation, approval and settlement went smoothly. The only minus point is the email communication when extra documents required were not clearly presented to us e.g including the uncommon abbreviation. Thankfully the loan manager helped us to resolve this issue otherwise it would result in delaying the loan settlement.
The best interest rate on the market
Customer service was polite and professional.
All fees were transparent and communicated to me before. Do not overpaid for banks, go for the lowest rate which you can get. Cheers
Their team was extremely helpful through the whole process and we’re always available to answer questions and updates. Great interest rates and flexible with all the loan setup. Would recommend
Cheapest rates our of any lender. They even gave me the cheapest rate when I didn’t completely qualify. Very responsive customer service and always able and willing to answer my questions.
Great communication, great low rate
One of the lower rates I found on the market. Bryce was brilliant at working around my busy schedule and kept in regular contact. Happily answered all my questions and made sure everything ran smoothly.
Good interest rate. Process was efficient up to the Settlement Agent which needed some management. Offering and features were better than expected for the entity. All good in the end.
Very helpful staff and low rates
This is our second loan though reduce. Just like last time the service was personal and helpful.
They gave us a number of great products to choose from.
The approval process was quick and easy, even in a time when the banks are all very busy.
Dane was so good, my loan process was so quick and easy. Dane was very helpful, got a very good response. I had some issue with settlement, other than that it is good.
Smooth process from start to finish
Started the process in late 2020 to refinance to a better rate. Company reps very responsive despite it being a very busy time. Very smooth process with clear instructions along the way. Costs were detailed up front and there was nothing unexpected. Disappointed in the convenience of redraw being web-only - no app. But otherwise very happy with the process and the final rate!
Reduce home loans offer a fantastic home loan rate which is far better than any of the big 4 can offer. The process of getting all your documentation can be a bit tedious but the reward of a great rate at the end of it is worth it. Customer service was always able to get through to them really quickly when needed. Would recommend Reduce.
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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