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Reduce Home Loans

Reduce Home Loans (page 2 of 4)

4.2 from 991 reviews · View Statistics
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Reviews

4.2
112 reviews
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Ashleigh
AshleighSouth East Queensland, QLD

Made our first home easy and stress free!

published

We used reduce home loans for our first home. The process was super easy, stress free and professional. We were also given extensive information that made the whole process simple and straightforward. Reece was really attentive at answering questions and his years of experience and knowledge raised points we hadn’t yet considered.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised Review No
Loan TypeVariable Rate
Loan used forFirst Home
Petr V.
Petr V.South East Queensland, QLD

Good rates but you might need to wait :)

published

Good points:
The brokers are polite, provide detailed information and easy to reach.
The rates are good.
Negative points:
The process takes around 50% longer than in other banks.
Valuation team requires some babysitting.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised Review No
Loan TypeVariable Rate
Loan used forFirst Home

Other Home Loans

 
 

0.0
(1,234)
Navil
Navil
  • 4 reviews
  • 1 like

Good service, fast, responsive, knowledgable

published

David was helpful and easy to deal with, responsive and answered questions promptly.
I had a few challenges with meeting the approval criteria, and David helped me identify the simplest and easiest way to meet those requirements, ultimately allowing me to settle without having to endure any extra costs or delays.
Thank you.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateSeptember 2020
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

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Great home loan rates & no fees

published

We looked into numerous lenders & found Reduce had a great rate & no fees. We switched to Reduce & made significant savings each fortnight that is now going directly toward reducing our debt faster. Lisa helped us through the process which made it easy to switch.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateJune 2020
Loan used forFirst Home

Good rates, professional and easy to setup.

published

Broker answered all our questions and was very responsive. Easy to setup and good mortgage rate for first home owner-occupier. All associated costs were listed in the brochures and website.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateMay 2020
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

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Carla
Carla
  • 2 reviews
  • 2 likes
  • Verified

Chasing simplicity and a refined home loan? Reduce Home Loans is where you need to start.

published

The call centre was amazing, so quick to respond to my queries and if they didn't know the answer they contacted me and emailed me with the answer. Lindsay managed my case and saw the whole process through from end to end, she always provided an answer within the timeframe that she quoted. In the end I came out with a no fuss-low rate loan, no bank non-sense just a good honest product. No one needs the fluff that banks carry on with, if you're chasing simplicity and a refined home loan - Reduce Home Loans is where you need to start.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateJune 2020
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

Newton K.
Newton K.Sydney, NSW

Best packaged fixed home loan on the market

published

I engaged Reduce home loans because they had the best fixed package home loan for my requirements. I chose the 3 year fixed home loan 2.19%. 100% offset and up to $20k additional repayments per annum.
What more could you want during the Covid-19 economy?

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateJuly 2020
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

Kristy
KristyPerth, WA

Reduce Home Loan was pretty good under the current conditions of covid19.

published

Reduce Home Loan was pretty good themselves with the covid19 changes and updates. Being a first home buyer it was a very stressful, not too great communication between all parties and not very organised process. My settlement date was moved twice and lucky settled on the third attempt. The actual loan it's self they offer is a good deal compared to the big four banks but the main banks deal with the first home buyers grant and Reduce Home Loans do not.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeFixed Rate
Loan Start DateJune 2020
Loan used forFirst 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)

Best customer service

published
Customer Service
Application Process
Timeliness
Incentivised Review No
Loan TypeFixed Rate
Loan Start DateJune 2020
Loan used forSecond Home
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Travis
TravisGreater Melbourne (Metropolitan), VIC
  • Verified

Great service and updates

published

Great rate home loan. I was talked through the process. All my questions answered and things explained. David was excellent, kept me updated and told me what needed to be done to get my loan approved. Recommend highly

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateApril 2020
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

Sam B
Sam BSydney, NSW

Helpful Staff - (Lisa and Lindsey)

published

Lisa Whitla was very nice to deal with and helped me with the process. It was my first time getting a loan and there were a heap of documents to sort through and it was quite overwhelming. She was very patient with me and helped me get through the initial set of documents.

Lindsey from the settlements team also helped me with understanding some of the terms and paperwork.

I know it was a testing time with COV-ID but all the staff i talked with were very patient and nice.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateApril 2020
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

Good rate but took a lot of work

published

David was very helpful and attentive throughout the entire process, however there was a lot of difficulty getting the loan approved on time which resulted in the settlement being pushed back a couple of weeks, but I still ended up with an exceptional homeloan rate by the end of it

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

Harry M
Harry MSydney, NSW
  • 2 reviews
  • 1 like

Great customer service but disappointed with change in lenders resulting in increased interest rate

published

Reduce were really easy to deal with, transparent and super responsive. The rate got increased as the lender changed its rating of apartment to high risk. The rate at the end was OK and still competitive but not as great as we expected. We will try again with Reduce for our next home.

Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateApril 2020
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

Luke Banham
Luke BanhamWestern Australia

RHL provided a great service while purchasing a new home in 2019 and re-financing in March 2020

published

Reduce Homeloans provided a great service while purchasing a new home in March 2019 then re-consolidating debt March 2020 while also getting one of the lowest interest rates around. Much better than the big 4 banks. Have recommended RHL to many work colleagues and friends since. Thanks Reduce Homeloans.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateMarch 2019
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

Other Home Loans

 
 

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(1,234)
Heimana
HeimanaSouth East Queensland, QLD
  • 4 reviews

Outstanding service and excellent support

published

I have been dealing with Dane, one of the finance manager from day 1 when I first called up to understand the process and timeframe so I can confidently secure our property when making an offer. The team at Reduced has been wonderful, offering me continuous follow ups and support with the administrative paperwork. Joel from the back office has been extremely helpful and prompt given our tight deadlines to meet Finance and B&P conditions. Without any doubts in my mind, I can strongly recommend Reduce Home Loans as your lender they have the most competitive rate currently, they know what they are doing and they value you as a customer which is the biggest difference if you compare it to other lenders including the big banks.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

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Very Helpful to this First Home Buyer

published

Dealing with Leon was such a pleasure. I'm a 25 year old first home buyer and I wasn't too understanding of the world of property purchasing. It's good to know that I'm getting one of the lowest interest rates in the country. I was a bit nervous throughout the whole property purchase dealing with the sales agent, solicitors and contracts; but Leon was very responsive in getting back to me and very helpful with all my questions.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

Grant B.
Grant B.South East Queensland, QLD

Good home loan

published

All round a good experience switching to Reduce just the time it took to get the loan in place was the only negative , but the low rate makes it worthwhile.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

Mark C.
Mark C.South East Queensland, QLD

Very low rates

published

I found the customer service very responsive whenever I rang with questions. There were no hidden costs and I could not find a better rate on the market and I looked very hard.

Transparency
Customer Service
Application Process
Timeliness
Incentivised Review No
Loan TypeVariable Rate
Loan used forFirst Home

Excellent

published

Great experience with reduced home loans. Best rate on the market and the process to get my loan approved was a breeze. Would recommend to anyone who's looking for a home loan.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateJanuary 2020
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

Nick
NickWimmera, VIC

Excellent interest rates

published

The service from the broker was punctual and communication was constant throughout the process. The interest rate offered is market leading and the products available are tailored to your needs. I would recommend Reduce Home Loans and go through the process again.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

scubaannie
scubaannie
  • 2 reviews
  • 5 likes

Best interest rates

published

Reduce have the lowest interest rates and it was a quick process to get approved! Good communication. It was very smooth process. Would do it again if I had to!

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

andrew.westaway
andrew.westawayGreater Melbourne (Inner), VIC

Great service and extremely cheap rate

published

The home loan rate provided was very attractive and is initially why I went with Reduced Home Loans.
I had a short settlement date and was worried it may not be met however the team at Reduced Home Loans was able to complete the application and have contracts ready for my review and signing within 4 weeks.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateFebruary 2020
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

Tomek
TomekGreater Melbourne (Metropolitan), VIC
  • 2 reviews
  • Verified

Best rates and great product!

published

Great rates, great protal and product. Takes a bit of time to set-up but completely worth it in the end with the cheapest rate on the market! They told me they are working to improve on that so definitely the place to go for a loan.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateFebruary 2020
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

Prasangi
PrasangiPerth, WA

Was an easy process! Guaranteed lowest interest rates!!

published

Lowest Interest rate and We save up to $400 monthly:) great customer service and so easy to approach them. Very transparent and no hidden charges. Highly recommended to anyone looking for new housing loan or switching loans:)

Transparency
Customer Service
Application Process
Timeliness
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

Very happy with the intrest rate

published

Reduce home loans offered me a great interest and comparison rates for buying my house.
Their team is professional and helpful.
The process took more time and complexity than I expected, but the low interest rate compensated the pain of the process.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forFirst Home
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Page 2 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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