Great rates & customer service, just need time to process the loan
Dane was great and helped us find the products we needed and kept us up to date. The rates are great. Reduce just need to work on their processing time to make sure the loans go through before settlement date. We were able to work around this. Thanks Dane.
Professional and thorough
Our broker Nick complete a complicated re-finance and new purchase for us, helping us secure our ‘forever’ home. Was professional, thorough and knowledgeable throughout, and when we got a bit worried the deal might not happen, he kept us informed and calm.
Perfect service every time !
Using them for last 5 years.. got multiple refinances and home loans done... always fast turnaround and no issues... fees are lowest and rates are unbeatable!! Would highly recommend to anyone.
Cheapest rates our of any lender. They even gave me the cheapest rate when I didn’t completely qualify. Very responsive customer service and always able and willing to answer my questions.
I sensed something was not quite right when they charged my card before authorisation was provided. Luckily I was running two applications in parallel because it turned out what the loan officer was saying and what they could do were two different things - don’t waste your time or money. Scammed me of nearly $500.
AVOID at all costs - Pre-Approval doesn't mean anything either - Constant stress and lost dream home
Would strongly encourage anyone to look elsewhere. Despite having pre approval months prior. When contract was signed for a house and subject to finance, reduce home loans kept requesting documents to be sent in which had already provided not only since pre-approval but again after contract was signed. I responded to all requests straight away. It appeared they were very disorganised organisation. They then left it up to the FINAL DAY of finance date to deny the application! This will likely result in the seller moving and the whole contract F...ALLING APART. I do not mind the fact that finance was denied, as I could have placed this elsewhere, but their service was diabolical and leaves me in a terrible position. Had they told me at any time in the last 2 months that there would be an issue, since having the same documentation they relied upon, then I would not be in this predicament. It appears internally the actually sign off is by some "credit manager" whom you will never talk too, and they leave this to the last day to obtain their approval internally. Don't bother with pre-approval as it is not worth the piece of paper it is written on and you will be sweating on their decision until actually finance date. Avoid at all costs and don't be fooled with their rates, comes at a price.
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Happy with service
Great rate and timely in settlement. Happy with service.
Love the new digital way of completing application and identification check, make the whole process quicker and easier.
Highly recommended for the low rate and digital process.
I would like to thank Nick Freney for assisting me to negotiate a better deal with my bank. I sent him an email and he was very efficient, he spent approximately 45 minutes on the phone to find the best options according to my needs, objectives, and financial situations. He is easily contactable, friendly with a warm attitude. He negotiated the best deal very quickly, and I must admit that I am extremely happy with the outcomes, no doubt, he has been exceptional. I would highly recommend his services to anyone. Thank you Nick!!!
Great rate and customer service
Excellent customer service, Reduce Home Loans team provided the best mortgage rate in the market. I was paying 4.32% with Macquarie bank and now I am paying only 2.49% with them. Thank you Guys!
Communication was good
- Our representative was available when needed with flexible times to suit my working hours
- The interest rate did increase from the original rate provided on two occasions throughout our application process in .1% increments, with a total .2% increase from original rate provided, which wasn't ideal
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Best rates, very helpful and great support and service
Cheapest rates around and loan was with Adelaide / Bendigo bank which gave me some comfort.
Lisa Whitla was great and very helpful throughout the whole process, especially given the tougher lending conditions and turn around times with COVID.
Would respond promptly and help explain each step of the process and any alternatives available. Highly recommended and referred a friend to her who had their loan approved and settled easily as well.
Excellent Service & Great Rate
We refinanced with Reduce home loans and got a fantastic fixed rate deal. We were assisted by Jacqueline who was amazing throughout the entire process and always kept us updated on the progress and was happy to discuss any questions or queries we had. We ended up getting a low property valuation however Jacqueline helped us challenge it and we got it revised up. The home loan application and approval took a few short weeks, we were then handed over to mortgage ezy & galilee solicitors for settlement. Not very impressed by Galilee (didn't take the time to explain anything and the communication was very poor), but highly recommend Reduce Home Loans
Exemplary Service Throughout
We were managed by Lisa Whitla from the outset and throughout the process for our investment properties. Lisa was exceptional with her service, follow-ups and assistance for any question. Even the questions we wanted clarification from the credit team, Lisa would mediate this in a very timely manner. Pre-approvals and formal approval periods are a matter of urgency and transparency is very important also (which is a rare commodity), Lisa also viewed these matters the same.
I would recommend Reduce for not only the Great rates for investment properties but also the service given, this makes it a smooth, stress free process (as much as possible) from what we have endured with other providers.
Highly recommend Lisa and the Reduce team.
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Very happy customer
Reduce Homeloans was recommended to me by a work colleague. I compared interest rates with my bank and theirs. After discovering that I was paying a much higher rate I went back to my bank and asked for a better rate. After being a customer for over 20 years they still could not match the rate Reduce Homeloans was offering me.
I decided to make the switch from one of the big 4 banks and the process could not have been easier.
I was guided throughout the whole process and was continually kept informed of how the application was going.
The only thing I regret is that I didn’t make the switch to them earlier. I highly recommend everyone talk to Reduced Homeloans if you are looking for a new home loan or wanting to switch lenders.
Very happy customer from 3 years!
Started with fresh loan with lowest rate and again dealt with my finance manager Noel for refinance at lowest rate in the market. Flawless experience, great support, great online platform, peace of mind.
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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