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Reduce Home Loans

Reduce Home Loans

4.2 from 991 reviews · View Statistics
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Reviews

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Angie Y.
Angie Y.Metropolitan Adelaide, SA

Would definitely recommend!

published

My husband and I recently refinanced with Reduce Home Loans and it was a fantastic process end to end! Bryce was extremely responsive, helped us every step of the way and made what can sometimes be a bit of a stressful time completely smooth sailing. The turnaround was also really quick! Would definitely recommend.

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Abhinav
AbhinavGreater Melbourne (Metropolitan), VIC

Perfect service every time !

published

Using them for last 5 years.. got multiple refinances and home loans done... always fast turnaround and no issues... fees are lowest and rates are unbeatable!! Would highly recommend to anyone.

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Travis Clydesdale
Travis ClydesdaleSouth West, WA

Great service & fast turnaround

published

We were operating on a very tight timeline but were extremely fortunate to receive amazing support from Ethan from start to finish. All communications were very responsive, clear and professional at every step of the process. Apart from the best in market interest rates, the quality of service has been first rate.

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Great rates and knowledgeable broker

published

I commend Nick as a broker. He was able to explain to me the entire loan process and best way forward given I was refinancing a loan and buying an investment property. His knowledge and expertise was great. This was also tied in with competitive market rates.

The application process is much simpler than it was 5 or so years ago (where it was paper based). It is all completed on an online portal where you can also keep a track on the progress. Was sweating on settlement day. There were minor issues with communication between mortgage solicitor and the discharge bank but Nick along with his colleague were very quick to get on top of it to ensure settlement proceeded smoothly.

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Perfect Service

published

Professional and perfect service, friendly staff, very quick process. Very low interest rate. Very good job. Good responsive. Good quality. Nice people. Paperless process. They are doing really great job

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Mario T.
Mario T.Sydney, NSW
  • Verified

Great customer serice

published

Very competitive rate.The mortgage broker Dane was very helpful, responsive and made the whole process very easy. The initial contact was through Zoom which assured me it was a fair dinkum company.

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Heather G.
Heather G.Sydney Surrounds, NSW

Excellent Rate Excellent Customer Service

published

Really happy with the ease of the application process and the great rapport built up with Jacqueline who stayed in touch throughout. Great rate. Couldn’t be happier. Thank you Reduce

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Low interest rates with high service

published

Very smooth application process with excellent service. Most importantly, the very low interest rates. Excellent experience.

Bryce was very helpful and ensured it went smoothly. Didn't have to go anywhere physically, all online or on the phone, which is great.

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Perfect customer service and competitive rates!

published

Extremely happy with our customer service and home loan with Reduce. Extremely competitive rate and nothing but the best customer service from start to finish. Highly recommend reduce home loans!

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Jimmy
JimmySouth East Queensland, QLD
  • 17 reviews
  • 6 likes
  • Verified

Great value and easy to use website

published

I refinanced to reduce homeloan from my previous lender. Much better interest rate and great functional website.

Personally really like the ability to pay BPAY directly from the loan account. Makes scheduling bill payments really easy, and means I can keep interest payments down by having my salary going into the loan.

Suggestion for website future development would be the inclusion of two factor authentication for payments to new bank accounts.

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Shan
ShanVictoria
  • 2 reviews
  • 2 likes

Might take a bit of time to assess and gather/ complete the paperwork but was pretty straight forward and easy.

published

If you have equity in your home loan then I would certainly recommend. The process is pretty straight forward and it was a pleasure working with Gary. My rate was competitive to begin with and managed to secure an even better rate which was great.

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Hayles
Hayles
  • 2 reviews

Best interest rates around!

published

We recently refinanced our loans with Reduce Home Loans. Our current bank couldn’t come close to matching their rates. No ongoing fees, no establishment fees. There is an exit fee however, so I recommend you ask upfront what that will be (different packages have differing fees). Easy redraw process, good online platform. Our interest rates are now 1.99% for our home loan and 2.29% for our investment loan (both P&I variable). We are happy we made the switch, even if the loan application process can be quite lengthy.

Loan TypeVariable Rate
Loan used forRefinancing
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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.

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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.

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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.

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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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