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Reduce Home Loans

Reduce Home Loans

4.2 from 952 reviews · View Statistics

Reviews

4.2

42 reviews
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Brendan

Brendan Sydney, NSW

Great Loan and Best Rate!

published

Recently settled on a loan with Noel. Was a fairly easy process and with relatively short time frame was able to get loan and approved in time! Thanks Noel for your efforts and sorting out bits and pieces when you were on leave!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateFebruary 2020
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

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Great product, great rate, great service!

published

Great product, great rate, great service! I spoke to numerous providers and Reduce offered the best product and were engaged and proactive in finding the best possible solution. Would use again!

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateOctober 2020
Loan used forInvestment Property
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Great experience!!

published

I would like to thank Nick Freney for assisting me to negotiate a better deal with my bank. I sent him an email and he was very efficient, he spent approximately 45 minutes on the phone to find the best options according to my needs, objectives, and financial situations. He is easily contactable, friendly with a warm attitude. He negotiated the best deal very quickly, and I must admit that I am extremely happy with the outcomes, no doubt, he has been exceptional. I would highly recommend his services to anyone. Thank you Nick!!!

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeFixed Rate
Loan used forInvestment Property
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Edson S.

Edson S.Perth, WA

  • 2 reviews

Great rate and customer service

published

Excellent customer service, Reduce Home Loans team provided the best mortgage rate in the market. I was paying 4.32% with Macquarie bank and now I am paying only 2.49% with them. Thank you Guys!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeFixed Rate
Loan Start DateSeptember 2020
Loan used forInvestment Property
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SUSANNE

SUSANNESouthwest, VIC

  • Verified customer

Low rate and well managed process

published

Fantastic low interest rate on investment property 2.79% makes it an option you have to consider.
Well managed by the account manager and I was regularly kept up to date. I'm finding it s very hard to be critical as the communication was excellent and my request to change from 45 days to 30 days settlement was accommodated.
Would 100% recommend and I would definitely use again.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateNovember 2020
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

Bao

BaoSydney, NSW

Best rates, very helpful and great support and service

published

Cheapest rates around and loan was with Adelaide / Bendigo bank which gave me some comfort.

Lisa Whitla was great and very helpful throughout the whole process, especially given the tougher lending conditions and turn around times with COVID.

Would respond promptly and help explain each step of the process and any alternatives available. Highly recommended and referred a friend to her who had their loan approved and settled easily as well.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeFixed Rate
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

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Real reviews

Real reviewsSouth East Queensland, QLD

  • 4 reviews
  • 3 likes
  • Verified customer

Exemplary Service Throughout

published

We were managed by Lisa Whitla from the outset and throughout the process for our investment properties. Lisa was exceptional with her service, follow-ups and assistance for any question. Even the questions we wanted clarification from the credit team, Lisa would mediate this in a very timely manner. Pre-approvals and formal approval periods are a matter of urgency and transparency is very important also (which is a rare commodity), Lisa also viewed these matters the same.

I would recommend Reduce for not only the Great rates for investment properties but also the service given, this makes it a smooth, stress free process (as much as possible) from what we have endured with other providers.

Highly recommend Lisa and the Reduce team.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeFixed Rate
Loan Start DateAugust 2020
Loan used forInvestment Property
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Richie W.

Richie W.

  • 4 reviews
  • 2 likes
  • Verified customer

Such a delay in getting the loan

published

Took 5 weeks to hear requesting for another 3 weeks when they promised me can get it done in 4 weeks initially. Requesting sign a disclaimer letter of not responsible for delay interest, but never thought about your work in delaying the loan will cost big money to the borrower.

Be sure to have 3 months settlement time before considering this company. Good interest rate, but with a price to pay. Do your own maths if it worths it.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forInvestment Property
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Bazza

Bazza

  • 2 reviews

Great Customer service from Dane & the team. Our loan has settled and with the rate received we are saving $3,000 pa

published

Great customer service.
Costs as expected. Followed Barefoot Investor and went for a vanilla loan with the ability to add or withdraw cash as required.
Very competitive rate from a non-bank lender with no hidden admin charges/fees or annual package costs. Why would anyone go the one of the big four Banks.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateMay 2020
Loan used forInvestment Property
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Brad G.

Brad G.Southwest, VIC

Best decision I made in a long time!

published

Nick was fantastic from the start. He took time understand my complicated situation and tailored an approach that allowed me to protect my home, free up some cash while saving a heap on mortgage repayments through a market leading rate.

He worked hard behind the scenes to meet tight finance deadlines, escalating where needed, following up and keeping me informed along the way.
I would definitely recommend after my experience and would give 6 stars if I could!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forInvestment Property
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Jojo Mundackal

Jojo MundackalSydney, NSW

Great service provided

published

Very good service provided to complement excellent home loan rate. All costs were already mentioned upfront and there were no unexpected costs. I am very satified with the rate received.

Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

Great rates for investment loan

published

Very happy with Reduce Home Loans. The investment loan rates are amongst the best in the market. Excellent customer service and had a smooth settlement. Will be using Reduce Home Loans again. Thank you!!!

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

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  • Verified customer

Excellent

published

Nick Freney at reduce home loans is the BEST.
We had a very complex situation for our investment loan and he got it all sorted with endless positivity. We won’t be going to anyone else for all future investments.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateJanuary 2020
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

Justin H.

Justin H.Illawarra, NSW

Home loan - low-cost but high quality service

published

Thanks to our broker Leon and Reduce Home Loans for all your help with getting our investment loan expedited with maximum care and minimum fuss over a busy end of year period. Your personal service has been the best advertisement for choosing a non-bank lender. Low-cost and high quality is a rare to find in anything, let alone in an $800,000 home loan!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateJanuary 2020
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

Ryan B.

Ryan B.Sydney, NSW

Keep away from this mob!

published

Terrible customer service. Very hard to get any information from anyone. A good rate quickly drifted to a terrible rate and was made virtually impossible to change. Refinancing with another organisation will be the best $875 I have ever spent. (Despite being told initially there would be no discharge fees). This mob will cost you $$$ in the end.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!
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SKD

SKDGreater Melbourne (Outer), VIC

  • 2 reviews
  • 4 likes

Nightmare - worst experience so far

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeSplit
Loan Start DateSeptember 2019
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!
Abhinav B.

Abhinav B.Greater Melbourne (Metropolitan), VIC

  • Verified customer

Great rates and service on home loans

published

Have been with them for over 3 years - always provide best rates, are knowledgeable and prompt in their response. They take the time to review, listen and understand the situation and respond promptly

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!
Very unhappy

Very unhappyCentral Queensland, QLD

  • 2 reviews
  • 1 like

Reduce Home Loans - 5 STARS

published

It was great to be able to assess whether or not we were eligible for a loan online, without having anyone calling us to hassle us. The application process was all online and therefore painless, the rates are excellent. The loan is basic, with an offset account attached to a debit card, so we're not having to put up with all the 'bells and whistles' that we're not interested in. The most competitive rates in the market, they have a very efficient and simple offset facility.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!
Professional Partners

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James S.

James S.

  • 2 reviews

Fantastic service

published

Great company, dedicated people, simplified the lending process, some of the best rates currently available, with minimal setup setup and ongoing fees, pleasure to deal with, would highly recommend if you are in the market for a new home loan.

Transparency
Customer Service
Timeliness
Loan TypeVariable Rate
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Darren

DarrenNorth-West & West coast, TAS

I went with another lender

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!
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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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