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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

4.1
114 reviews
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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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0.0
(1,234)
Real reviews
Real reviewsSouth East Queensland, QLD
  • 4 reviews
  • 3 likes
  • Verified

Exemplary Service Throughout

published

We were managed by Lisa Whitla from the outset and throughout the process for our investment properties. Lisa was exceptional with her service, follow-ups and assistance for any question. Even the questions we wanted clarification from the credit team, Lisa would mediate this in a very timely manner. Pre-approvals and formal approval periods are a matter of urgency and transparency is very important also (which is a rare commodity), Lisa also viewed these matters the same.

I would recommend Reduce for not only the Great rates for investment properties but also the service given, this makes it a smooth, stress free process (as much as possible) from what we have endured with other providers.

Highly recommend Lisa and the Reduce team.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised Review No
Loan TypeFixed Rate
Loan Start DateAugust 2020
Loan used forInvestment Property
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Reduced interest rate

published

It take long time to get processed, lot of details submitted, at the middle we thought to stop the paper work. but once all paper work done, we can say interest rate is low compared to others and no other hidden fees

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

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Bazza
Bazza
  • 2 reviews

Great Customer service from Dane & the team. Our loan has settled and with the rate received we are saving $3,000 pa

published

Great customer service.
Costs as expected. Followed Barefoot Investor and went for a vanilla loan with the ability to add or withdraw cash as required.
Very competitive rate from a non-bank lender with no hidden admin charges/fees or annual package costs. Why would anyone go the one of the big four Banks.

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

Great personalised help all the way

published

Customer service by Lisa was excellent. She was always ready to help, keep us up to date, patiently explain everything and said we could keep in touch. Great interest rate. Very satisfied.

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

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0.0
(1,234)

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
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

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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

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
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Brad G.
Brad G.Southwest, VIC

Best decision I made in a long time!

published

Nick was fantastic from the start. He took time understand my complicated situation and tailored an approach that allowed me to protect my home, free up some cash while saving a heap on mortgage repayments through a market leading rate.

He worked hard behind the scenes to meet tight finance deadlines, escalating where needed, following up and keeping me informed along the way.
I would definitely recommend after my experience and would give 6 stars if I could!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forInvestment Property
Jojo Mundackal
Jojo MundackalSydney, NSW

Great service provided

published

Very good service provided to complement excellent home loan rate. All costs were already mentioned upfront and there were no unexpected costs. I am very satified with the rate received.

Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

Evie
EvieSouth East Queensland, QLD
  • 3 reviews

Good!

published

Saved heaps! Great customer service, lovely people and quick phone pickup! Only downside is the loan docs are more painful than from my bigger bank. But well worth the pain!

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateMarch 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

Other Home Loans

 
 

0.0
(1,234)
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
Home Loans

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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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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

Alkesh Patel
Alkesh PatelPerth, WA
  • 3 reviews
  • Verified

Real deal....gr8 BIG 4 killer.

published

Gr8 dealing with Reduced homeloans when was going through difficult time for land settlements matters, but they speed up process to next level and finish it.Prompt responses all the time.

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

Great rates for investment loan

published

Very happy with Reduce Home Loans. The investment loan rates are amongst the best in the market. Excellent customer service and had a smooth settlement. Will be using Reduce Home Loans again. Thank you!!!

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

Ron F
Ron FGreater Melbourne (Metropolitan), VIC

Well worth the effort

published

A very helpful and attentive experience - at times a bit of a slow process but well worth it due to the low interest rate:) I'm glad I stumbled across Reduce Home Loans!

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forInvestment Property
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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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