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Reduce Home Loans

Reduce Home Loans (page 3 of 4)

4.2 from 991 reviews · View Statistics
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Reviews

4.1
114 reviews
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Excellent deal - making it possible to own our own home!

published

We are very happy with our awesome deal, low interest rates and the extra effort made to meet our short settlement time. The only reason this is not a 5 star review is while the people and broker are lovely people to talk too we found our broker quite hard to contact at necessary times. This meant our settlement was 3 days late. Thankfully all worked out ok and we are happy with our overall experience so far.

Lauren L.
Lauren L.Greater Melbourne (Outer), VIC

Great help for a first home buyer!

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Excellent

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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.

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Dave
DaveSouth East Queensland, QLD

Lowest interest rate available

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Reduce offer the best rate around without compromising on customer service. They keep in regular contact with you and help you through every step of the way. The fees are a little pricey but this is more than offset by the amazing rate so if you are looking for a mortgage of over 10 years...look no further.

Justin H.
Justin H.Illawarra, NSW

Home loan - low-cost but high quality service

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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!

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Great Interest Rates!

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Great interest rates and surprisingly easy to deal with. Would choose over a big bank any day. No hidden fees and staff were all friendly. I thought having a cheaper interest rate would mean more hassle but that wasn't the case.

Great service and rates

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The staff was great taking me start to end getting a good loan but also supporting me throughout the whole process. Tight settlement times were always a worry for me but we made it in time too. Highly recommended.

Rachel K.
Rachel K.South East Queensland, QLD

A hassle but worth it in the end.

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They required A LOT more information from me than my previous bank and it was a couple of months of emails back and forth almost daily but it was worth it for the money I'm now saving. The same loan is now costing me $150 a fortnight less so I definitely feel it will be worth my trouble over the life of the loan :)
Also they sent me a kit to grow your own chives as a welcome present so that was a cute touch.

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Abhinav B.
Abhinav B.Greater Melbourne (Metropolitan), VIC
  • Verified

Great rates and service on home loans

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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

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  • Verified

Reduce Home Loans - Good experience, easy to deal with and best interest rate available.

published

Reduce Home Loans - Good experience, easy to deal with and best interest rate available. Good service from Bryce Stimpson.
Offered different interest rate and loan type options, and discussed with us which would suit best, the forms were not too hard to fill out, instructions were clear and the final setup and settlement went well.

Highly Recommend

published

Reduce Home Loans have been so easy to deal with and their follow up has been wonderful. Highly recommend them. Very competitive interest rates and great customer service from Bryce

Sheeba
SheebaCentral West, NSW

Excellent interest rate

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I am really happy about the interest rate . There is no hidden fees . If they do the process bit speed , I would rate definitely 5 star . I already recommended to my friends

Anne
AnnePerth, WA

Thanks Reduce Loans

published

We had a very helpful staff member (Reese) during the loan application process. He answered all our questions and was easy to get in touch with. He helped us our with application and doubled checked all our documents were correct before we submitted the final application. The pre-settlement team communicated with our settlement agent regarding any issues and the post-settlement team (Cat) were great at explaining each step to commence mortgage payments. Thanks.

Awesome Rate and friendly Service!

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If your looking for a great rate, you cannot go past Reduce Home Loans. No nasty fees either. Their customer service was good and friendly. Only downside, I had to chase them up a few times, but they always got back to me eventually.
The rate was awesome and they also offered no application fee on the loan saving me hundreds!
Very satisfied customer, thank you Reduce Home loans!

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Excellent service from the Reduce Home Loans team

published

Nick was great to deal with, took care of everything for me, Barely had to lift a finger.
Great rates are also.
Very satisfied customer, thank you Nick and Marvin for all your help!

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Kevin
KevinGreater Melbourne (Inner), VIC

Quick and easy

published

Excellent service, professional staff, help was always available for any queries.
No hidden costs and refund of valuation
Very competitive rates
I would definitely recommend this company as this is the second time I have used them and both times went very smoothly.

David M.
David M.Western Australia

Great rates and great customer service

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A great company to set up a mortgage with. The process went very smoothly and our sales rep was always available on the phone (Rhyse Taylor in Brisbane) to answer any questions we had)

We were worried about going with a 'non big 4 lender' bit so far so good and the interest rate is much better than any of the established banks were offering

Thanks

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.

Rajiv Karnik
Rajiv KarnikSydney, NSW

Best interest rate for investment property loan

published

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 rates

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Reduce had the best rate we could find after a lot of research, responses were a little slow at times but got there in the end and happy we went with reduce home loans.

Nathan C.
Nathan C.Hobart, TAS

Over all very happy with Reduce. Great rates and customer support!

published

Over all very happy with Reduce. Great service and relatively easy change over procedure. The internet banking interface could do with some modifications though. Also an app would be great too.

Michael
MichaelSouth East Queensland, QLD
  • 2 reviews
  • 3 likes

Best Interest Rate

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Best rate in the market after RBA cut, have received first rate cut and pending for the second rate cut, call centre is helpful and provide quite response to the question.

Fantastic Service!!!

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My partner and I went through Reduce Home Loans for our first purchase. Being our first home, we had a lot of queries. Leon Clark was incredibly helpful and patient with us. Highly recommend him + his team!

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.

RKS
RKSSydney, NSW

Great Rates and service

published

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.

Page 3 of 4

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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