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Reduce Home Loans

Reduce Home Loans

4.2 from 1,007 reviews · View Statistics
Listing monitored by Reduce Home Loans

Reviews

4.3
87 reviews
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Brooke & Brian E.
Brooke & Brian E.South East Queensland, QLD
  • 2 reviews
  • 1 like

Professional and thorough

published

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.

Transparency
5/5
Application Process
4/5
Timeliness
4/5
Online Tools
4/5
Loan TypeFixed Rate
Loan Start DateSeptember 2021
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

Abhinav
AbhinavGreater Melbourne (Metropolitan), VIC

Perfect service every time !

published

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.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
4/5
Loan TypeFixed Rate
Loan Start DateApril 2021
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

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0.0
(1,234)
Travis Clydesdale
Travis ClydesdaleSouth West, WA

Great service & fast turnaround

published

We were operating on a very tight timeline but were extremely fortunate to receive amazing support from Ethan from start to finish. All communications were very responsive, clear and professional at every step of the process. Apart from the best in market interest rates, the quality of service has been first rate.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Loan TypeVariable Rate
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

Great rates and knowledgeable broker

published

I commend Nick as a broker. He was able to explain to me the entire loan process and best way forward given I was refinancing a loan and buying an investment property. His knowledge and expertise was great. This was also tied in with competitive market rates.

The application process is much simpler than it was 5 or so years ago (where it was paper based). It is all completed on an online portal where you can also keep a track on the progress. Was sweating on settlement day. There were minor issues with communication between mortgage solicitor and the discharge bank but Nick along with his colleague were very quick to get on top of it to ensure settlement proceeded smoothly.

Transparency
4/5
Customer Service
4/5
Application Process
5/5
Timeliness
5/5
Online Tools
4/5
Loan TypeVariable Rate
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

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Perfect customer service and competitive rates!

published

Extremely happy with our customer service and home loan with Reduce. Extremely competitive rate and nothing but the best customer service from start to finish. Highly recommend reduce home loans!

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Loan TypeVariable Rate
Loan Start DateJune 2021
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

The rate is absolutely incredible!

published

The rate is incredible. The customer service was polite and professional. There were no unexpected costs, everything went ahead as expected. We are going to refinance our investment property with them!

Transparency
4/5
Customer Service
4/5
Application Process
4/5
Timeliness
3/5
Loan TypeVariable Rate
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

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Jasmine S.
Jasmine S.Greater Melbourne (Metropolitan), VIC
  • 5 reviews
  • 1 like

Home loan pre-approval

published

Recently obtained a pre-approval with Reduce. Leon was a pleasure to deal with and was very efficient, helpful and responsive. With such a great interest rate, I would definitely recommend Reduce to my friends and family

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forSecond Home

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Betty
BettyGreater Melbourne (Metropolitan), VIC

Great service

published

Great service ans information provided in a timely manner during the process. We got good communication about how the application was progressing and had no issues to obtain the loan

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Loan TypeVariable Rate
Loan Start DateFebruary 2021
Loan used forSecond Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

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Brendan
Brendan Sydney, NSW

Great Loan and Best Rate!

published

Recently settled on a loan with Noel. Was a fairly easy process and with relatively short time frame was able to get loan and approved in time! Thanks Noel for your efforts and sorting out bits and pieces when you were on leave!

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Loan TypeVariable Rate
Loan Start DateFebruary 2020
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

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Craig Murphy
Craig MurphyGreater Melbourne (Metropolitan), VIC

Great rates, quick and easy process

published

Reduce offered exactly what we were after - a highly competitive (if not the best available) rate and a simple, no frills loan product. Bryce was extremely helpful explaining our options and prompt to reply to any questions we had. The fee structure was straightforward, and the entirely online process easy to navigate.

Transparency
5/5
Customer Service
5/5
Application Process
4/5
Timeliness
5/5
Online Tools
4/5
Loan TypeVariable Rate
Loan Start DateJanuary 2021
Loan used forSecond Home
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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.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Loan TypeVariable Rate
Loan Start DateJanuary 2021
Loan used forSecond Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Other Home Loans

 
 

0.0
(1,234)

Cheapest Variable Rate Available

published

Reduce Homes Loans and Noel Cosca and the team very great. Process was easy and settlement occurred on time. Highly recommended and have no problems in referring anyone who wants a cheap interest rate and an easy process to achieve this objective.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Incentivised Review No
Loan Start DateJanuary 2021
Loan used forSecond Home
Home Loans

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Rowena
Rowena Greater Melbourne (Metropolitan), VIC
  • 2 reviews
  • Verified

Happy with service

published

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.

Transparency
4/5
Customer Service
4/5
Application Process
3/5
Timeliness
4/5
Online Tools
4/5
Loan TypeFixed Rate
Loan used forSecond Home
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

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Great product, great rate, great service!

published

Great product, great rate, great service! I spoke to numerous providers and Reduce offered the best product and were engaged and proactive in finding the best possible solution. Would use again!

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateOctober 2020
Loan used forInvestment Property

Great experience!!

published

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!!!

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Incentivised Review No
Loan TypeFixed Rate
Loan used forInvestment Property
Page 1 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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