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Reduce Home Loans

Reduce Home Loans

4.2 from 977 reviews · View Statistics

Reviews

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Amos Saraber
Amos SaraberSouth East Queensland, QLD
  • 2 reviews

Excellent service and very low rate.

published

I recently obtained a home loan from Reduce Home Loans for the purchase of a new home. Not only were they able to offer me a super-competitive interest rate, they also provided exceptional customer service. Mr David Easey and his colleagues were very friendly, responsive and professional throughout the process, and I was very impressed by the effort David made to make things happen in time for me. I'd highly recommend Reduce Home Loans to anyone considering a home loan.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateMay 2021
Loan used forFirst Home
Professional Partners

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Luke B
Luke B
  • 2 reviews

Good experience- lowest rate and good communication.

published

Loan was approved in a timely manner with good communication throughout process.
I would recommend them as they are also the lowest rate available.
Everything completed online via email and phone calls.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forFirst Home
Other Home Loans

 
 

0.0
(1,234)
Simon N.
Simon N.Perth, WA

Seamless process

published

Extremely satisfied with my customer service experience. Reduce representative was always there to answer questions as required.

No extra costs or issues with the loan. Very happy with the loan setup costs compared to other lenders.

Very satisfied with the rate I received.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateMarch 2021
Loan used forFirst Home
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Great rate on home loan. Very happy.

published

Great rates, low establishment fees and no on going fees. Very happy with my loan and the service of reduce home loans. Highly recommended if you want to save on your rate. Could process applications a bit faster, however only minor complaint.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateMarch 2021
Loan used forFirst Home

The rate is absolutely incredible!

published

The rate is incredible. The customer service was polite and professional. There were no unexpected costs, everything went ahead as expected. We are going to refinance our investment property with them!

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forSecond Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

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Jasmine S.
Jasmine S.Greater Melbourne (Metropolitan), VIC
  • 4 reviews

Home loan pre-approval

published

Recently obtained a pre-approval with Reduce. Leon was a pleasure to deal with and was very efficient, helpful and responsive. With such a great interest rate, I would definitely recommend Reduce to my friends and family

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forSecond Home
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Glad we made the swap!!!

published

Great rate and it was an easy process to swap from our previous bank. Very knowledgeable staff, who were easy to talk to and happy to answer any questions. Thanks heaps Jess!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan used forFirst Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Betty
BettyGreater Melbourne (Metropolitan), VIC

Great service

published

Great service ans information provided in a timely manner during the process. We got good communication about how the application was progressing and had no issues to obtain the loan

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateFebruary 2021
Loan used forSecond Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Other Home Loans

 
 

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(1,234)
Edan
EdanGreater Melbourne (Inner), VIC

Nothing short of outstanding

published

I was very nicely surprised at the excellent service I received from Reduce Home Loans. From their branding on their web-site I initially perceived them to be a cheap, cut corners, internet brokerage. Truth of it is that I received VIP treatment from them. David, who was the Reduce broker I first made contact with, gave me his mobile number and was always super-quick to respond, whether I texted, called of emailed. He had a solid sense of urgency as things needed to move quickly with the short settlement period. If there were any delays (not due to the fault of Reduce) David immediately escalated and got things resolved right away. The rate they got me for my home loan was also head and shoulders better than the rest.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateApril 2021
Loan used forFirst Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Home Loans

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AVOID at all costs - Pre-Approval doesn't mean anything either - Constant stress and lost dream home

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeFixed Rate
Loan used forSecond Home
Craig Murphy
Craig MurphyGreater Melbourne (Metropolitan), VIC

Great rates, quick and easy process

published

Reduce offered exactly what we were after - a highly competitive (if not the best available) rate and a simple, no frills loan product. Bryce was extremely helpful explaining our options and prompt to reply to any questions we had. The fee structure was straightforward, and the entirely online process easy to navigate.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateJanuary 2021
Loan used forSecond Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Amy B.
Amy B.Perth, WA
  • 2 reviews
  • 2 likes

Go with RHL

published

Jacqueline from reduce home loans has been amazing through the process of buying our home in Jan 2021. Always following up and explaining every process along the way promptly. This is the second time we have purchased with RHL and the service and interest rates are 5 star. Would definitely recommend to anyone looking at purchasing a house to give RHL a go.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateJanuary 2021
Loan used forSecond Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Professional Partners

Looking for Home Loans?

Read the reviews for Professional Partners

175 reviews
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Sam R
Sam RSydney, NSW
  • 4 reviews
  • 1 like

Love the best rate in all over Australia

published

Process was well explained and easy to follow. Rhyse guided us all the way through, he was just an email away, attended to our inquiries almost immediately . I wouldn’t hesitate a single moment to recommend Reduced Homeloan to my family and friends.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateDecember 2020
Loan used forFirst Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Cheapest Variable Rate Available

published

Reduce Homes Loans and Noel Cosca and the team very great. Process was easy and settlement occurred on time. Highly recommended and have no problems in referring anyone who wants a cheap interest rate and an easy process to achieve this objective.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan Start DateJanuary 2021
Loan used forSecond Home
Other Home Loans

 
 

0.0
(1,234)

Great knowledge and service

published

My broker was David Easey and he explained the process very clearly and took his time to discuss the pros and cons of different loan types. He was prompt in replying to any of my queries over the phone or email. I'm glad that I went through reduce home loans for my mortgage. I was also assisted by Kurt Trendle and Jet Curtis who were also very knowledgeable and provided great customer service.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateDecember 2020
Loan used forFirst Home
Home Loans

Find out how Reduce Home Loans compares to other Home Loans

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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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