Great interest rates
We went to Reduce Home Loans because they offered the best interest rates in town and they delivered on this. Settlement occurred on time and we got the keys to our new place as planned, so smiles all around.
Good rates if you have your paperworks sorted
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.
A hassle but worth it in the end.
They required A LOT more information from me than my previous bank and it was a couple of months of emails back and forth almost daily but it was worth it for the money I'm now saving. The same loan is now costing me $150 a fortnight less so I definitely feel it will be worth my trouble over the life of the loan :)
Also they sent me a kit to grow your own chives as a welcome present so that was a cute touch.
Reduce Home Loans - Good experience, easy to deal with and best interest rate available.
Reduce Home Loans - Good experience, easy to deal with and best interest rate available. Good service from Bryce Stimpson.
Offered different interest rate and loan type options, and discussed with us which would suit best, the forms were not too hard to fill out, instructions were clear and the final setup and settlement went well.
Excellent interest rate
I am really happy about the interest rate . There is no hidden fees . If they do the process bit speed , I would rate definitely 5 star . I already recommended to my friends
Thanks Reduce Loans
We had a very helpful staff member (Reese) during the loan application process. He answered all our questions and was easy to get in touch with. He helped us our with application and doubled checked all our documents were correct before we submitted the final application. The pre-settlement team communicated with our settlement agent regarding any issues and the post-settlement team (Cat) were great at explaining each step to commence mortgage payments. Thanks.
Excellent service from the Reduce Home Loans team
Nick was great to deal with, took care of everything for me, Barely had to lift a finger.
Great rates are also.
Very satisfied customer, thank you Nick and Marvin for all your help!
Great rates and great customer service
A great company to set up a mortgage with. The process went very smoothly and our sales rep was always available on the phone (Rhyse Taylor in Brisbane) to answer any questions we had)
We were worried about going with a 'non big 4 lender' bit so far so good and the interest rate is much better than any of the established banks were offering
Good staff helpful
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.
Over all very happy with Reduce. Great rates and customer support!
Over all very happy with Reduce. Great service and relatively easy change over procedure. The internet banking interface could do with some modifications though. Also an app would be great too.
Best Interest Rate
Best rate in the market after RBA cut, have received first rate cut and pending for the second rate cut, call centre is helpful and provide quite response to the question.
My partner and I went through Reduce Home Loans for our first purchase. Being our first home, we had a lot of queries. Leon Clark was incredibly helpful and patient with us. Highly recommend him + his team!
Excellent rates, and easy to deal with
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.
Great rates, very contactable customer service
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.
Lowest cost, least hassle
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.
Reduce helped us to get a great rate on a home loan, and settle in a very short time frame
Reduce helped us to get a great rate on a home loan, and settle in a very short time frame. Thanks for your help. The online loan management web app is good also.
Better than the big 5 banks
Just better service seen and better rates
I went to the banks out of interest and they were just a waste of my time. Even when they tried to match they couldn't
Will give them 5 stars as soon as they pass on the rate cut...
Awesome experience from the get go.no frills but exactly what you need from a lender. Was the best rate around when we signed up and still is now 6 months later as far as I can tell.
Good so far
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
I am quiet satisfied with services so far, but recommend an mobile app for monitoring our account rather than only via URL., This way it at least gives customers flexibility of checking their account
Low interest, top service
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.
Efficient and swift
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.
Great rate. No hassle setup.
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.
Great rate with full offset and good service.
Customer service was good, a little complicated and disorganised at times.
No unexpected setup costs, great rate. Exit fees are a little high, though, which is only a problem if you’re leaving and give them the rate (and 10% offset) that’s unlikely.
The loan application and approval process could have been smoother, but worth working through for the rate, though!
Best in the business. Should have switched years ago!!
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+++
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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