Great rates, very contactable customer service
The interest rates are very competitive. Fees are all clearly stated in product brochures. Mortgage process is also complicated but it helps that the people at Reduce Home Loans respond quickly and are easy to contact.
Great interest rate
I received prompt, fast and Great customer service. I was contacting them through email the entire time due to work commitments. The interest rate which Reduce home loans provide is amazing.
Lowest cost, least hassle
Awesome help from Reduce Home Loans when we needed a trusted advisor when buying a new home and selling our existing property and needing to juggle existing mortgage and new mortgage. Got it all done with lowest cost and least hassle.
Reduce helped us to get a great rate on a home loan, and settle in a very short time frame
Reduce helped us to get a great rate on a home loan, and settle in a very short time frame. Thanks for your help. The online loan management web app is good also.
Better than the big 5 banks
Just better service seen and better rates
I went to the banks out of interest and they were just a waste of my time. Even when they tried to match they couldn't
Will give them 5 stars as soon as they pass on the rate cut...
Awesome experience from the get go.no frills but exactly what you need from a lender. Was the best rate around when we signed up and still is now 6 months later as far as I can tell.
Good so far
The application process was easy and approval received within 7 days. However this was before the banking enquiry. I found the staff very good though difficult to contact after approval
I am quiet satisfied with services so far, but recommend an mobile app for monitoring our account rather than only via URL., This way it at least gives customers flexibility of checking their account
Low interest, top service
Very happy with the low interest rate. I’ve been with Reduce over a year and the rate hasn’t budged a bit. Withdrawal options are more flexible than my old bank. Application and future settlement fees are transparent and I’ve recouped them both already within a year due to the low rate.
Efficient and swift
It was a flawless experience for me with great rates. There was no surprise as far as costs were concerned, i was charged what i was told. I am pretty satisfied with their service.
Great rate. No hassle setup.
Customer service was great. I spoke to Rhyse and we moved quickly getting all the documents together. Was very happy with him.
Rate is great.
I would recommend their services to my friends.
Great rate with full offset and good service.
Customer service was good, a little complicated and disorganised at times.
No unexpected setup costs, great rate. Exit fees are a little high, though, which is only a problem if you’re leaving and give them the rate (and 10% offset) that’s unlikely.
The loan application and approval process could have been smoother, but worth working through for the rate, though!
Best in the business. Should have switched years ago!!
Super easy to deal with, Super service, Super great rates. Thanks Reduce for reducing my payments !! I would happily recommend Reduce to anyone chasing a great home loan rate. AAA+++
One of the best home loan rates in the market
Even I could not meet in person each of the managers who handled my case, I received constant support and communication to submit all the required documentation on time. At the end, the final product received was simple and easy to operate.
Decent service given the low rate
Reduce's rate was far better than we could find anywhere else. Our representative David worked very hard to get it all done, and it did get done in the end.
It wasn't always a straightforward process though. We had quite a few delays, including multiple occasions when we were asked for documents that we'd already sent before. We also had to pay penalty interest when their solicitors held up settlement because they had a policy that they needed three business days to schedule settlement.
But overall, I would recommend them and I'm sure they'll...save us thousands over the life of the loan. Just be aware that things might take a bit longer than with a regular bank, and you won't be able to see anyone in person. You can still talk over the phone though, and David kept in regular contact throughout the process. We also just settled today, so we can't rate the ongoing service nor can we comment on others' reviews that their interest rates went up shortly after joining.
Good low cost product
Good customer service, good communication and responsive to phone calls etc. There were no unexpected costs. They were thorough with paper work and ensuring affordability. Happy with a low interest rate.
Loving everything about the switch to Reduce Home Loans
Couldn’t be happier after moving our home loan to Reduce Home Loans. Have saved a fortune compared to what we were paying before. Customer service was fantastic, it was like having a personal loans manager at call every step of the way.
Fantastic loans with all the features you need with great rates. Very helpful staff with document turnaround. This is my third loan with Reduce and would definitely recommend them as a lender.
Very helpful staff. I found a very good solution to my request. Happy outcome.
Customer service was very good. I found a very competitive solution to my enquiry. Interestingly enough, it is still one of the best in the market after a year and a half. I would recommend.
Reduce home loan. Really helpful, professional and great rate. Extremely happy
Really helpful, professional and great rate. Extremely happy!
I am planning on another loan with them and have also referred them to a few friends. I dealt with David and he was honest, available to help in an instant, and really knowledgeable.
Initially some issues, but my customer service went above and beyond
I refinanced from a big bank, and it did take a while longer than expected due to a few hiccups with the documentation. However, my customer service representative David was most willing to go above and beyond to push things through and reassure me everything was moving. Thanks Reduce.
Zero haggling required
Best rate in australia, zero ongoing weekly fees.
Application process was straight forward.
This loan is the best of the best for owner-occupiers, no frills, same payment every week.
Feels good to know you are getting the best rate in australia whenever current affair shows the Top5 list, reduce is always there.
I would choose Reduce Home Loans.
I was previously with one of the big five banks paying way too much interest. Then I found out about Reduce Homw Loans. Cheap rates. Simple application process. I’d recommend others considering a home loan to speak to Reduce Home Loans.
Really happy customer
Great low fees, good features and low interest rates and good service also! Really happy with the deal! All the rates were as advertised and the application process wasn't difficult.
We found reduce offered us more competitive rates and fees than our mortgage broker could. We have been happy with the competitive rate. Customer service via phone is excellent but not as good via email. In saying that would definitely recommend them as once you do the math you end up saving thousands over the lifetime of the loan.
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!
Get an answer from our members and Reduce Home Loans representatives
Other Home Loans
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.