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Reduce Home Loans

Reduce Home Loans (page 3 of 3)

4.2 from 991 reviews · View Statistics
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65 reviews
Sarah Mac
Sarah MacSydney Surrounds, NSW

Good low cost product


Good customer service, good communication and responsive to phone calls etc. There were no unexpected costs. They were thorough with paper work and ensuring affordability. Happy with a low interest rate.

JohnnySouth East Queensland, QLD

Loving everything about the switch to Reduce Home Loans


Couldn’t be happier after moving our home loan to Reduce Home Loans. Have saved a fortune compared to what we were paying before. Customer service was fantastic, it was like having a personal loans manager at call every step of the way.

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Peter A
Peter ASouth East Queensland, QLD

Very helpful staff. I found a very good solution to my request. Happy outcome.


Customer service was very good. I found a very competitive solution to my enquiry. Interestingly enough, it is still one of the best in the market after a year and a half. I would recommend.

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Reduce home loan. Really helpful, professional and great rate. Extremely happy


Really helpful, professional and great rate. Extremely happy!
I am planning on another loan with them and have also referred them to a few friends. I dealt with David and he was honest, available to help in an instant, and really knowledgeable.

Mike B
Mike BMetropolitan Adelaide, SA

Zero haggling required


Best rate in australia, zero ongoing weekly fees.
Application process was straight forward.
This loan is the best of the best for owner-occupiers, no frills, same payment every week.
Feels good to know you are getting the best rate in australia whenever current affair shows the Top5 list, reduce is always there.

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Nathan S.
Nathan S.14 Nov 2019

I would choose Reduce Home Loans.


I was previously with one of the big five banks paying way too much interest. Then I found out about Reduce Homw Loans. Cheap rates. Simple application process. I’d recommend others considering a home loan to speak to Reduce Home Loans.

Page 3 of 3

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?

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?


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.


I was told exit fees were made illegal from 2011?


Most big banks average $300!
My mortgage will be discharged in 3 weeks. Yey.


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

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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