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Reduce Home Loans

Reduce Home Loans

4.2 from 1,012 reviews · View Statistics
Listing monitored by Reduce Home Loans

Reviews

4.2
70 reviews
Previous
Next

Great homeloan

published

Was an easy process to get this mortgage everyone at Reduce were very helpful and worked hard to get things in place even with a reduced timeline.
The website is basic but has all the function you need
The rate is unbeatable and will save me $1000's :-)

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Loan TypeVariable Rate
Loan Start DateAugust 2021
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

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.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
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

Other Home Loans

 
 

0.0
(1,234)
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
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateMay 2021
Loan used forFirst Home
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
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forFirst Home
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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.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateMarch 2021
Loan used forFirst Home

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
5/5
Customer Service
5/5
Application Process
4/5
Timeliness
5/5
Online Tools
4/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateMarch 2021
Loan used forFirst 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
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
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

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Glenn
GlennGreater Melbourne (Outer), VIC

Great communication, great low rate

published

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.

Transparency
4/5
Customer Service
4/5
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

Other Home Loans

 
 

0.0
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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
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
4/5
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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Great value, professional service.

published

We took out a construction loan with Reduce home loans to build a new home for our family. We found Gary to be friendly, professional and very responsive. Great value service

Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateJanuary 2021
Loan used forHome Construction
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Reduce Home Loans - Excellent Experience

published

We used Reduce Home Loans to fund construction of our forever home and had the pleasure of working with Lisa as our Finance Manager. Our experience was very smooth and Lisa went above and beyond to have everything in place and all the information we needed. To the extent that Lisa was updating our documentation late afternoon on Christmas Eve and New Years Eve, which was greatly appreciated. We recommend engaging Reduce Home Loans to discuss your financing needs.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
4/5
Loan TypeVariable Rate
Loan Start DateFebruary 2021
Loan used forHome Construction
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Other Home Loans

 
 

0.0
(1,234)
Cherie S.
Cherie S.South East Queensland, QLD

an easy loan process

published

We had an easy loan process and appreciated the quick responses and follow up with loan documents and our many questions! There are lots of documents required initially but the process after that was fast.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Loan TypeVariable Rate
Loan used forHome Construction
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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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
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Loan TypeVariable Rate
Loan Start DateDecember 2020
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

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Gary
Gary
  • 2 reviews

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
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateDecember 2020
Loan used forFirst Home
Adam M.
Adam M.Sydney, NSW

Good rate and responsive service

published

Excellent customer service, best rate available and very responsive. Made a complex process simple to navigate. Offered some good ideas that allowed us to structure our loans in a cost effective way. Highly recommended.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateOctober 2020
Loan used forFirst Home
Page 1 of 3

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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