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.
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?
Best customer service
Lisa Whitla was extremely supportive throughout our borrowing journey. We have applied for land and constrruction initially and I have asked 100 questions about it. Due to COVID-19 our plans changed due to building and construction taking longer than normal in that period and we switched to another property halfway through and I had another 100 questions about that purchase. I have no words to say Thank you- (1000 times) to Lisa Whitla who was so much suportive, quick responsive and always greeted with me a welcoming tone over the phone. She h...as explained all steps, costs, process and finalisation of our loan application. She was available both over the phone and email. Reduce home loans also offers you much competitive rates as compared to another lenders and provide same quality service. If I will borrow in future, I will use Reduce Home loans and Lisa Whitla as my broker. Your speedy responses & ongoing support with finalising the loan are greatly appreciated.
Great customer service but disappointed with change in lenders resulting in increased interest rate
Reduce were really easy to deal with, transparent and super responsive. The rate got increased as the lender changed its rating of apartment to high risk. The rate at the end was OK and still competitive but not as great as we expected. We will try again with Reduce for our next home.
Good home loan
All round a good experience switching to Reduce just the time it took to get the loan in place was the only negative , but the low rate makes it worthwhile.
Very good service
Take longer time than other banks (5 weeks for us) but worth the time as the interest rate is low. Good service. Get response promptly from the case manager or credit team.
Compare lenders with Lendi
The interest rate was very competitive.
Customer service staff were pretty good but there loan approval took some time and caused a bit of stress which we could have done without.
Lowest interest rate home loan
Our experience with Reduce Loans was great. There was quite a bit of paperwork but I guess you can expect that at any bank. We always had a broker to chat to about our personal finances which helped a lot with the purchase of our second property. There are some fees, but they are transparent about those and with the rates being so low, it was going to be well and truly worth it for us in the long run. Highly recommend!
Great interest rates
We went to Reduce Home Loans because they offered the best interest rates in town and they delivered on this. Settlement occurred on time and we got the keys to our new place as planned, so smiles all around.
Good staff helpful
The staff were very helpful and always got back to you. The process was frustrating at times=having to scan and send documents was painful and then sometimes having to resend again-delays -but when you are taking out the middle man and paying for bare bones I guess you have to expect some hard work on your part. The loan has been very easy since i have had it and very user friendly and 2 interest rate drops make you feel like they are genuinely a great deal to go with.
Compare lenders with Lendi
Excellent rates, and easy to deal with
The team have looked after a number of loans for me. Always easy to deal with, and provide great options for finance at rates well below the advertised rates. The mortgage process requires a bit of paperwork but the interest savings make it worth while.
Great rates, very contactable customer service
The interest rates are very competitive. Fees are all clearly stated in product brochures. Mortgage process is also complicated but it helps that the people at Reduce Home Loans respond quickly and are easy to contact.
Great interest rate
I received prompt, fast and Great customer service. I was contacting them through email the entire time due to work commitments. The interest rate which Reduce home loans provide is amazing.
Compare lenders with Lendi
Good so far
The application process was easy and approval received within 7 days. However this was before the banking enquiry. I found the staff very good though difficult to contact after approval
One of the best home loan rates in the market
Even I could not meet in person each of the managers who handled my case, I received constant support and communication to submit all the required documentation on time. At the end, the final product received was simple and easy to operate.
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!
Get an answer from our members and Reduce Home Loans representatives
Other Home Loans
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.