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Reduce Home Loans

Reduce Home Loans (page 3 of 3)

4.2 from 977 reviews · View Statistics



43 reviews
PingGippsland, VIC
  • 2 reviews
  • Verified

Great service again


I took out my investment loan from Reduce Home Loan the second time in April 2019. I have my loan pre-approved in October 2018. However, I was unable to find a suitable house until February 2019. Then I resent some updated documents as per request and got another pre-approval within a few days. Unfortunately, I had to withdraw my purchase due to unsatisfactory house inspection report. Then I found another property in March and needed a fast settlement. Reduce has managed to settle my loan within 3 weeks which I was so impressed with their service.

best rates on the market


I currently have two investment home loans with them one of them for 2 years. So far the rates are very competitive to the market and what my product offers. Good customer service. Broker that handled my loan was very helpful. Though their online portal still needs some improvement. Very happy overall.

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Great interest rates


Reduce home loans have very competitive interest rates compared to the market. I’ve been with several different banks for my interest only investment loan and reduce home loans have some of the best rates on offer

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LanaPayneGreater Melbourne (Metropolitan), VIC

Reduce home loan


Been with reduce for over a year haven’t had any problems, the mezy online portal is easy to use and rate is competitive. Would recommend to anyone looking for a good rate.

Easy to deal with


Don’t be put off by all the names i.e. Reduce/ Mortgage Ezy/ Columbus, the product is a good no-fuss loan at a cheap rate. The web site is accessible and reliable.

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Nathan S.
Nathan S.14 Nov 2019
FilomenaSydney, NSW

Great service and rates


Immediate response from
Customer service. Easy access to phone calls and emails . Person looking after me would always follow up on what was needed. Even though there was a Time difference between Brisbane and Sydney - it all worked out well

Great product, easy process


Easy product with great rates, fees and service. I have several mortgages and will be looking to refinance with them in the near future. Highly recommend if you looking for a home loan.

Page 3 of 3
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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?

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?


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.


I was told exit fees were made illegal from 2011?


Most big banks average $300!
My mortgage will be discharged in 3 weeks. Yey.


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

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!

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