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Reduce Home Loans

Reduce Home Loans (page 3 of 10)

4.2 from 991 reviews · View Statistics
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Reviews

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Todd
ToddMetropolitan Adelaide, SA
  • 2 reviews

Straight Forward and Great outcome

published

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.

Igor V.
Igor V.Sydney Surrounds, NSW
  • 2 reviews

Best rates, lots of options, personalised offerings

published

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

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Julian
JulianSouth East Queensland, QLD

Low rate home loan, friendly service!!

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I was referred to reduce home loans by a friend who also had a very positive experience because my fixed term with another bank was nearing its end and they were not going to offer me anything close to what reduce home loans could. So after a little research I gave them a call! The application process was simple, and there was a broker There to explain everything and help me fill in those tricky and daunting Forms!

I would HIGHLY recommend reduce home loans to all my friends and family!

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Rich
RichMelbourne
  • 2 reviews

Great rate!

published

Customer experience was great and helpful. The lending process was effective and worked with me throughout the process to get the loan complete as quickly as possible. I am satisfied and would recommend this product to friends and family.

Glen Edwards
Glen EdwardsMetropolitan Adelaide, SA

Fantastic rates

published

Jacqueline and Joel were very helpful with the whole process.
A little more work involved because of dealing online, no branch available.
Well worth it with the money you save.
Took about 8 weeks all up.

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Easy Transition!

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Customer service was spot on, My broker Dane helped me through every step of refinancing and made it very easy. Reduce have very competitive rates and I don’t know why i didn’t do it earlier

Great Home Loan Company

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Great service, and professional staff. My Broker Jacqueline was fantastic and she went above and beyond to assist me with refinancing my home load. The support staff were also outstanding and took the time to explain each step. Would definitely recommend this Company.

Anand
AnandSydney, NSW

Great home-loan rate with great service

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The teams are very professional in their approach and patiently assisted with the paper work, clarifying and explaining the process. They are very approachable and provided timely response to my queries, helped me to make informed decision, though there were delay on my end.

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Yusuf
YusufMelbourne
  • 5 reviews
  • 3 likes

Great rates and friendly, helpful staff

published

It was a pleasure to deal with the team. Despite having all my paperwork in order there was issues with a credit reporting agency providing incorrect information about myself. The team were able to work through it and look at the paperwork showing that the agency was demonstrably incorrect and able to work through this. Several months later the agency is still yet to correct their records and I have initiated a complaint against them with the regulatory body. Meanwhile my loan with Reduce is ticking along nicely.

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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

Scott C.
Scott C.
  • 2 reviews

Best rates on the market

published

Pleasant staff to deal with, made the whole process easy. For us it took almost 3 months to settle, 2 months to be approved by Reduce, and 1 month for our outgoing bank. 100% happy with the service and the new rate we are on.

Anand
AnandSydney
  • 2 reviews

Reliable and Good Service

published

Jacqueline and the team have been very diligent and transparent in providing the details and clarifying my question. Greatly appreciate and thanks the team for their support and patience in finalizing the loan settlement.

Mark R
Mark RSydney, NSW

Punctual and persistant

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I give the team top marks. My application came with quite a few difficulties and they supported me all the way. They never gave up o me. Once the loan was formally approved and all the requirements were met the loan settled very quickly.

Stuart
StuartPerth, WA

Best variable rate on the market

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The application was very comprehensive and took about 2 months.
During which the reserve bank reduced interest rates and this was applied to our application in full.
We now have a low upfront cost, no annual fee loan with one of the lowest variable rates on the market.

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0.0
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Cheapest rate around!

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If you want to pay as less as possible, they were the cheapest rates when I did my research.
All online so pretty straight forward. Once you get the documentation in order etc it is downhill from there.

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Refinance and new loan.

published

Rhyse did a really good job of assisting me through the application process
I had direct communication with him and he always came back to me.
I’m very happy to recommend using reduce Homeloans.

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.

Emma Cornwall
Emma CornwallConder 2906, ACT

Amazing home loan we’ve never looked back

published

We switched to reduce home loans and we’ve honestly never looked back. They have been so supportive through the process of switching loans. And the money we are saving from their fantastic rate has been a life changer for our little family. We are just so glad we found them.highly recommend to anyone looking for a new home loan or looking to switch home loans to a better rate and better experience .

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.

Great customer service but a long process

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The customer service shown by Rhyse was great. Supported my wife and I through the whole process well and was a pleasure to deal with. However the actual process of application took a long time with being asked for documents on multiple occasions. However would recommend.

Great customer service

published

I was very happy with the contact and very responsive replies from Rhyse at Reduce Home Loans. The process was quite long and a lot of documentation required to be provided (different to the big 4 banks) so just be aware of this when starting the process. Rhyse was always willing to assist with my questions. The low interest rate can't be beaten, and I did a lot of checking prior to going through with Reduce Home Loans to refinance. Some of the costs were a little hidden, which I think is something that can be improved to assist when you are making a decision to refinance in the first instance. Overall I would highly recommend.

Robert
RobertPerth
  • 2 reviews
  • 11 likes

Fantastic rate worth a bit of effort

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This is hands down one of, if not the best home loans available. Drop the big banks and deal with a non bank lender. Our specialist was Dane Binckes and was always happily available any time of the day to assist with our queries. The application process is not super straightforward but Dane was available to assist where required. It is worth it as I believe we have the BEST rate in Australia that will pay back again and again and again.

Bahman
BahmanGreater Melbourne (Metropolitan), VIC
  • 2 reviews
  • 2 likes

Greate rate and helpful staff

published

We recently refinanced our home loan with Reduced Home Loan and are extremely happy with them. The staff were friendly and helpful throughout the process. The only thing that was a little bit annoying was the number of documents that they required. However, I would assume that is because of their low rate loan and the banks which work with them are a little bit cautious about choosing customers.

StaceJ
StaceJSouth East Queensland, QLD
  • 4 reviews
  • 1 like

Best Interest Rate

published

It was an easy application process and there were no extra costs. This was the lowest interest rate we could find, so far no problems with Internet banking, their customer service respond quickly to queries.

Tim
TimGreater Melbourne (Metropolitan), VIC

Best variable interest rate

published

Easy application process, great customer support and the best variable interest rate in the market. Communication and feedback during the application was prompt and helpful, and absolutely no issues with the product provided.

Page 3 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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