Simple refinancing and a very competitive rate
The end to end refinancing process was as simple as it gets in the world or mortgages. Gary and his team were quick to action things on their side and get back to me, friendly and streamlined the process.
Refinancing made easy
Gary and his team were very accommodating throughout the process and always kept us up to date. The rate we received was great and was reduced during our application.
During Covid time the online process was very suitable and worked well.
One of the best for rates and cashback and excellent customer service
I worked with Nick Freney on refinancing my home loan away from a big 4 bank, and got a way better rate plus cash back.
Nick was excellent and helped us to work through some difficulties that we faced in terms of being able to get the required loan amount.
I highly recommend getting away from a big 4 bank and highly recommend Reduce Home Loans and Nick to do it with!
Home loan refinance process and settlement.
The refinance process and settlement was seamless and simple.
Good rates and no unnecessary headache was caused. Will review the service later.
A mobile app for loans would be useful. Reach out if you need help developing one ;)
My cheap rate just got cheaper
I had a great experience in refinancing with Reduce. I would like to thank the whole team who seem to bend over backwards to help me plus it was a fantastic surprise to receive the full RBA rate cut considering my last bank didn’t give me anything and the major banks also didn’t pass on anything. Best decision we made, I don’t know why I didn’t do it sooner we’re now saving $360 a month. I’ve already recommended Reduce to friends and would recommend Reduce to anyone!
A streamlined process with great communication
We first came to learn about Reduce Home Loans through a friend who had read about their impressive and competitive interest rates.
Nick Freney reached out quickly after we enquired.
We were refinancing two loans and borrowed extra for renovations.
We found Nick to be informative, efficient and had a great level of communication. We never had to wait very long for a response or phone call. He was always available when needed.
We had a few issues arise however it was always handled with efficiently by Nick and caused us little stress.
A painful process made easy
Nick Freney worked with me on refinancing 2 of my loans
And not did he just get me the best rates possible he also made the process less painful with quick correspondence and step by step updates during the process
That being said they do need to create a banking app
Everything progressed smoothly. Was kept well informed of progress. Everything that was promised was delivered. They're even passing on the full rate reduction just announced by the RBA. Website is a little clunky but it's not too much of an issue.
Click and Done
First of all I would like to thanks Bryce. As soon as I showed my interest to switch my loan, he was there to support meat every stage. It was a quick process and everything was settled in a month. The online process is so cool you just need to provide your documents and it keeps you moving towards your approval. The support team is awesome. It was a great experience and I got my best rate.
They have much lower rates compared to the mainstream banks. I am saving hundreds of dollars on interest per month after refinancing with Reduce Home Loans. Refinancing has definitely paid off.
Communication was good
- Our representative was available when needed with flexible times to suit my working hours
- The interest rate did increase from the original rate provided on two occasions throughout our application process in .1% increments, with a total .2% increase from original rate provided, which wasn't ideal
Perfectly suited to us
The staff were prompt in their responses and factual. We received a great rate with flexibility to pay the loan off early. The system is easy to use. Our only issue - was with the nitpicking repetitive detail of information required throughout the approval process. Once it was approved all went well and we are happy with the resulting service.
Great communication and follow up but turn around time was slow from lender. Due to this documentation became outdated and requested multiple times. Great product and fantastic rate. Overall very satisfied with Reduce Home loans.
Straight Forward and Great outcome
Refinancing with Reduce was a positive experience. The application process takes some time as it is very comprehensive but the outcome warrants the effort. I reduced my rate to the lowest on the market.
Best rates, lots of options, personalised offerings
We had a great broker helping us (Rhyse Taylor), he first listened to what we were after and our current situation before offering us various products that met our requirements. We were guided through the process to make our own decision. The fees were as explained to us, so there were not bad surprises. I would recommend Reduce Loans and Rhyse to anyone who is looking to get the best home loan deal for their specific circumstances
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!
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