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Reduce Home Loans

Reduce Home Loans

4.2 from 1,013 reviews · View Statistics
Listing monitored by Reduce Home Loans

Reviews

Previous
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Great homeloan

published

Was an easy process to get this mortgage everyone at Reduce were very helpful and worked hard to get things in place even with a reduced timeline.
The website is basic but has all the function you need
The rate is unbeatable and will save me $1000's :-)

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

Daz
DazSydney Surrounds, NSW
  • 4 reviews
  • 1 like

Great value home loan

published

From pre approval right through to the settlement Jackie from Reduce home loans keeped us update during every step. We did have some issues due to current lockdown in NSW but would still highly recommend them for a loan.

Customer Service
4/5
Application Process
4/5
Timeliness
3/5
Loan TypeVariable Rate
Loan Start DateAugust 2021
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

Other Home Loans

 
 

0.0
(1,234)

Refinancing

published

Most competitive home loan comparison rate I could find at the time of refinancing. People need to start looking into online lenders as they offer far superior options to the major banks.

Application Process
3/5
Loan TypeVariable Rate
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The reviewer stated that an incentive was offered for this review

Maria D.
Maria D.Sydney, NSW
  • 2 reviews
  • 3 likes

Best interest rate for our needs and easy to deal with

published

Dane at Reduce was fabulous to deal with. He was fast to respond to our requests and worked hard to obtain the best rate. We have used Reduce previously and didn’t hesitate to return for a second loan a few years later. I have so far referred them to a few mates.

Customer Service
5/5
Application Process
3/5
Timeliness
5/5
Online Tools
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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leelo
leeloNorth Queensland, QLD
  • 12 reviews
  • 13 likes

Great rates & customer service, just need time to process the loan

published

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.

Transparency
5/5
Customer Service
5/5
Loan TypeFixed Rate
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I found the staff friendly and accommodating, with nothing being to much to ask.

published

I found the staff friendly and accommodating, with nothing being to much to ask.

I received VIP treatment from them. Nick, who was the Reduce broker I first made contact with, gave me his mobile number and was always super-quick to respond, whether I texted, called of emailed. Nick immediately escalated and got things resolved right away. The rate they got me for my home loan was also head and shoulders better than the rest.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Loan TypeVariable Rate
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Christian Lim
Christian LimGreater Melbourne (Metropolitan), VIC

Best Interest Rate I could find together with an offset account. Excellent service. No ongoing fees.

published

Reduce Home Loans have been great from the beginning. Nick our lending manager was excellent. I was able to get the best interest rate that I could find including an offset account.
The paper work took a bit of time to get through but it's paid off since I've settled my loan. I've been able to call for help whenever I needed it. There were a few steps to get through but I won't need to go through this refinance process for a while now that I have a very low rate and no ongoing fees and an offset account. If you want the lowest rate in the market with or without an offset account give these guys a call and then see how they compare to other banks. You may end up going with these guys just like I did.
Christian

Transparency
5/5
Customer Service
5/5
Application Process
4/5
Timeliness
4/5
Online Tools
4/5
Loan TypeVariable Rate
Loan Start DateAugust 2021
Loan used forRefinancing
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The reviewer stated that an incentive was offered for this review

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Rob B.
Rob B.South East Queensland, QLD

They have unbeatable home loan products

published

They have great home loans, I would have given them 5 stars if they were a bit quicker, but now that we've refinanced through them we're very happy. So I still gave them 5 stars despite the timeleness as I would highly recommend.

Transparency
4/5
Customer Service
4/5
Application Process
5/5
Timeliness
3/5
Loan TypeVariable Rate
Loan Start DateMarch 2021
Loan used forRefinancing
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The reviewer stated that an incentive was offered for this review

Other Home Loans

 
 

0.0
(1,234)
Brett Goldspink
Brett GoldspinkIllawarra, NSW

Great rates and very helpful !

published

David and the reduce home loans team helped us get a great rate and easy loan set up.
We highly recommend Reduce Home Loans to anyone thinking of refinancing or setting up a new loan

Transparency
5/5
Customer Service
5/5
Application Process
4/5
Timeliness
4/5
Loan TypeVariable Rate
Loan used forRefinancing
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Terry
TerryIllawarra, NSW

REDUCE HOME LOANS ARE NO 1

published

My wife and i are extreemly satisfied with all aspects of service with Reduce Home Loans.
They listen, are readily contactable and you speak to a real person.
Would have no issues in recommending them for any persons home loan requirements.
And their home loan rates are great 100% mortgage offset account and easy refinancing.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Loan TypeVariable Rate
Loan Start DateJanuary 2020
Loan used forRefinancing
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Kean Smith
Kean SmithHunter Region, NSW

Great Rate, No Fuss, Would Recommend

published

Was looking for a low rate, no fee home loan, looked around for quite a while before choosing to refinance with Reduce. So glad we did, Bryce was awesome to deal with and we got our low rate, no fuss home loan. Would recommend !!

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Online Tools
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan used forRefinancing

Other Home Loans

 
 

0.0
(1,234)
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

Home Loans

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A painless and good value experience

published

A very good rate and the people I've dealt with made it an easy process. They don't have an App which is the reason I haven't given them 5 stars.

Transparency
5/5
Customer Service
5/5
Application Process
5/5
Timeliness
5/5
Loan TypeVariable Rate
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Patrick S.
Patrick S.Greater Melbourne (Inner), VIC

Great experience!

published

I found the customer service to be really good. Any questions were answered promptly and the loan officers were experienced and helpful. The whole approval process took a few months, but I think that’s the same everywhere. The interest rate is very competitive across the market.

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

Janelle P.
Janelle P.South West, WA

Not your typical online lender

published

I had approached a couple of online lenders to get a better rate than my bank was offering, but they all fell through because of conditions and hoops. My loan wasn’t standard and Reduce stuck with me on it and we worked through issues until we got a result. It took time and effort, but I re-settled at a competitive low rate so now my extra payments are going to me and to the bank! So Reduce lived up to its name …

Transparency
5/5
Customer Service
4/5
Application Process
4/5
Timeliness
3/5
Online Tools
5/5
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateAugust 2021
Loan used forRefinancing
Page 1 of 10

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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