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Reduce Home Loans

Reduce Home Loans (page 2 of 2)

4.2 from 959 reviews · View Statistics

Reviews

4.4

37 reviews
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Leo

LeoGreater Melbourne (Metropolitan), VIC

  • 2 reviews
  • 1 like

Good rates if you have your paperworks sorted

published

Reduce has been communicative and clear with what is required, and the rate is fantastic. To minimise the stress, prepare the paperwork/sums of your yearly expenses, income, tax return etc. Don't be shy in ringing them to confirm things either.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateSeptember 2019
Loan used forSecond Home
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Madeleine

MadeleineGreater Melbourne (Metropolitan), VIC

  • 2 reviews

Good staff helpful

published

The staff were very helpful and always got back to you. The process was frustrating at times=having to scan and send documents was painful and then sometimes having to resend again-delays -but when you are taking out the middle man and paying for bare bones I guess you have to expect some hard work on your part. The loan has been very easy since i have had it and very user friendly and 2 interest rate drops make you feel like they are genuinely a great deal to go with.

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

Excellent rates, and easy to deal with

published

The team have looked after a number of loans for me. Always easy to deal with, and provide great options for finance at rates well below the advertised rates. The mortgage process requires a bit of paperwork but the interest savings make it worth while.

Transparency
Customer Service
Application Process
Timeliness
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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Oliver

OliverPerth, WA

  • 2 reviews

Great rates, very contactable customer service

published

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.

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

Great interest rate

published

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.

Incentivised ReviewNo
Loan Start DateMarch 2019
Loan used forSecond Home
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Lowest cost, least hassle

published

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.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateMarch 2019
Loan used forSecond Home
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Matt B.

Matt B.South East Queensland, QLD

Good so far

published

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

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

Marcus

MarcusCentral Highlands and Goldfields, VIC

Low interest, top service

published

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.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateJanuary 2018
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

Efficient and swift

published

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.

Transparency
Customer Service
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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Great rate. No hassle setup.

published

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.

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

John Sheehan

John SheehanWide Bay-Burnett, QLD

  • 8 reviews
  • 3 likes

Best in the business. Should have switched years ago!!

published

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+++

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forSecond Home
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Octavio Martinez Davalos

Octavio Martinez DavalosGreater Melbourne (Metropolitan), VIC

  • Verified

One of the best home loan rates in the market

published

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.

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

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Jamie. S.

Jamie. S.South East Queensland, QLD

Great Value!

published

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.

Transparency
Customer Service
Application Process
Timeliness
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

Mel S

Mel S

  • 9 reviews
  • 4 likes

Initially some issues, but my customer service went above and beyond

published

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.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forSecond Home
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Yarraville Guy

Yarraville GuyGreater Melbourne (Metropolitan), VIC

  • 2 reviews
  • 1 like

Really happy customer

published

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.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateSeptember 2016
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

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Excellent rate

published

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.

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

Page 2 of 2
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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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