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Reduce Home Loans

Reduce Home Loans (page 4 of 58)

4.2 from 977 reviews · View Statistics

Reviews

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Chaminda T.
Chaminda T.Greater Melbourne (Outer), VIC

Australia's best mortgage rate

published

Best rate in the market ....Highly recommend their service. Easy to deal with and the best part is the instant saving on your bank account. About time we see lending rates closer to the cash rate.

Katre B.
Katre B.South East Queensland, QLD
  • 2 reviews
  • 1 like

Wonderful

published

Reduced Home Loans have been absolutely wonderful.
We have been with big banks for way too many years and I am so glad we finally did this move. Changing the loan over was a breeze compared to what we have had to deal in the past. Do yourself a favour and move over to Reduced Home Loans and use your money for something else than paying higher rates elsewhere.

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rajesh pundir pundir
rajesh pundir pundirSouth East Queensland, QLD

Cheapest and best

published

The whole process of transition to reduce home loan was handled efficiently by Gary from reduce home loan and efficiently to. Worked out quite well. All the information provided was correct and in timely manner. Thanks

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Amy B.
Amy B.Perth, WA
  • 2 reviews
  • 2 likes

Go with RHL

published

Jacqueline from reduce home loans has been amazing through the process of buying our home in Jan 2021. Always following up and explaining every process along the way promptly. This is the second time we have purchased with RHL and the service and interest rates are 5 star. Would definitely recommend to anyone looking at purchasing a house to give RHL a go.

Exceptional service and products

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I had a very positive experience with Reduce Home Loans and I am glad I made the switch. At the start I was sceptical being an online bank but realistically after thinking about it I hardly have to call up to enquire about my home loan. I got a fantastic rate and have no hesitation with moving othrr products over should they be available in the near future. Lisa did an amazing job and kept me up to date every step of the way. Thank you Reduce Home Loans for the exceptional service and most of all saving me money which helps me pay off my home loan sooner. I am a very happy customer.

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AmaZing rates!

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We had a great experience refinancing with reduce. The process was easy and relatively quick and the rate can not be beaten!! Customers service was also great, got back to me with all my questions very very quickly.

Excellent rates, great service

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Excellent rates attracted me to Reduce loans for a refinance activity.
Whole process was straight forwards with the only delay being my time to complete the forms. Good feedback and communication throughout.
Highly recommended

Smooth process from start to finish

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Started the process in late 2020 to refinance to a better rate. Company reps very responsive despite it being a very busy time. Very smooth process with clear instructions along the way. Costs were detailed up front and there was nothing unexpected. Disappointed in the convenience of redraw being web-only - no app. But otherwise very happy with the process and the final rate!

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Scott
ScottGreater Melbourne (Metropolitan), VIC

Great rate.

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Reduce home loans offer a fantastic home loan rate which is far better than any of the big 4 can offer. The process of getting all your documentation can be a bit tedious but the reward of a great rate at the end of it is worth it. Customer service was always able to get through to them really quickly when needed. Would recommend Reduce.

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Melanie
MelanieSouth East Queensland, QLD

Made the refinancing process seamless !!!

published

Great customer service. Prompt responses to our questions. No unexpected costs. The rate we received is fantastic. Very helpful when it came to changing the date on which our monthly payment is made.

Excellent service

published

Reduce home loans provided excellent service and were very helpful with any questions I had. They provided the best rates and features that I could find any where in the internet. They had excellent communication and will definitely be recommending to friends and family

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.

Philip H.
Philip H.Perth, WA

Good rates

published

Good customer service Good experience with Interest rates and low fees. While the rate is great but the only con was it took to long to process the application taking three months

Julianok
JulianokGreater Melbourne (Metropolitan), VIC

Good service with a great rate

published

Good experience with Dane rate is great but the only con was it took to long to process the application and we had to submit payslips 3 x times along with other info due to this, very frustrating.
Mezy account setup was not explained to us, the wife and I have sperate accounts and can not pay/transfer money without the other authorizing it first, what an inconvenience to us for paying bills etc and was told this is the only option that you have! Due to this we will be finding another bank that makes it easier for us to do our everyday banking while controlling the mortgage also and they have no app in this day and age why?!

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Easy transaction

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Friendly staff that are more than happy to help any way they can.
It was an easy change over and a very competitive rate.
reduce took care of everything.
We would highly recommend reduce home loans

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Page 4 of 58
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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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