Reduce Home Loans - 5 STARS
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.
Best interest rate for investment property loan
Customer experience was good, however there is room for improvement. Particularly in the vetting of documents that are initially submitted, as later on the Settlements team / lawyers ask for more documents.
Good staff helpful
The staff were very helpful and always got back to you. The process was frustrating at times=having to scan and send documents was painful and then sometimes having to resend again-delays -but when you are taking out the middle man and paying for bare bones I guess you have to expect some hard work on your part. The loan has been very easy since i have had it and very user friendly and 2 interest rate drops make you feel like they are genuinely a great deal to go with.
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.
Excellent rates, and easy to deal with
The team have looked after a number of loans for me. Always easy to deal with, and provide great options for finance at rates well below the advertised rates. The mortgage process requires a bit of paperwork but the interest savings make it worth while.
Great rates, very contactable customer service
The interest rates are very competitive. Fees are all clearly stated in product brochures. Mortgage process is also complicated but it helps that the people at Reduce Home Loans respond quickly and are easy to contact.
Great Rates and service
The rate savings are well worth the move. There was timely communication and service is friendly.
Highly recommend. They answered all the questions I had and were very patient as well.
Not bad service for an online lending agency, a lot of documents were required and a long process but hey it’s cheap and that’s what counts when it’s all set up.
Great interest rate
I received prompt, fast and Great customer service. I was contacting them through email the entire time due to work commitments. The interest rate which Reduce home loans provide is amazing.
Lowest cost, least hassle
Awesome help from Reduce Home Loans when we needed a trusted advisor when buying a new home and selling our existing property and needing to juggle existing mortgage and new mortgage. Got it all done with lowest cost and least hassle.
Easy set and access.
Excellent before and after service. No unexpected costs and very fast and easy set up of loan. Extremely easy to access redraw and receive money within 24 hours. Very satisfied with the loan.
Great prompt service, email responded to quickly not only for this loan but also other inquiries. Exceptional value for money, the best I could find. Best of all no hassles.
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.
Good so far
The application process was easy and approval received within 7 days. However this was before the banking enquiry. I found the staff very good though difficult to contact after approval
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.
Low interest, top service
Very happy with the low interest rate. I’ve been with Reduce over a year and the rate hasn’t budged a bit. Withdrawal options are more flexible than my old bank. Application and future settlement fees are transparent and I’ve recouped them both already within a year due to the low rate.
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
Efficient and swift
It was a flawless experience for me with great rates. There was no surprise as far as costs were concerned, i was charged what i was told. I am pretty satisfied with their service.
Great rate. No hassle setup.
Customer service was great. I spoke to Rhyse and we moved quickly getting all the documents together. Was very happy with him.
Rate is great.
I would recommend their services to my friends.
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.
Best in the business. Should have switched years ago!!
Super easy to deal with, Super service, Super great rates. Thanks Reduce for reducing my payments !! I would happily recommend Reduce to anyone chasing a great home loan rate. AAA+++
One of the best home loan rates in the market
Even I could not meet in person each of the managers who handled my case, I received constant support and communication to submit all the required documentation on time. At the end, the final product received was simple and easy to operate.
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.
Fantastic loans with all the features you need with great rates. Very helpful staff with document turnaround. This is my third loan with Reduce and would definitely recommend them as a lender.
Initially some issues, but my customer service went above and beyond
I refinanced from a big bank, and it did take a while longer than expected due to a few hiccups with the documentation. However, my customer service representative David was most willing to go above and beyond to push things through and reassure me everything was moving. Thanks Reduce.
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?
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?
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.
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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