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Reduce Home Loans

Reduce Home Loans (page 3 of 17)

4.2 from 991 reviews · View Statistics
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Reviews

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Chaminda T.
Chaminda T.Greater Melbourne (Outer), VIC

Australia's best mortgage rate

published

Best rate in the market ....Highly recommend their service. Easy to deal with and the best part is the instant saving on your bank account. About time we see lending rates closer to the cash rate.

Katre B.
Katre B.South East Queensland, QLD
  • 2 reviews
  • 1 like

Wonderful

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Reduced Home Loans have been absolutely wonderful.
We have been with big banks for way too many years and I am so glad we finally did this move. Changing the loan over was a breeze compared to what we have had to deal in the past. Do yourself a favour and move over to Reduced Home Loans and use your money for something else than paying higher rates elsewhere.

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rajesh pundir pundir
rajesh pundir pundirSouth East Queensland, QLD

Cheapest and best

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The whole process of transition to reduce home loan was handled efficiently by Gary from reduce home loan and efficiently to. Worked out quite well. All the information provided was correct and in timely manner. Thanks

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Amy B.
Amy B.Perth, WA
  • 2 reviews
  • 2 likes

Go with RHL

published

Jacqueline from reduce home loans has been amazing through the process of buying our home in Jan 2021. Always following up and explaining every process along the way promptly. This is the second time we have purchased with RHL and the service and interest rates are 5 star. Would definitely recommend to anyone looking at purchasing a house to give RHL a go.

Exceptional service and products

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I had a very positive experience with Reduce Home Loans and I am glad I made the switch. At the start I was sceptical being an online bank but realistically after thinking about it I hardly have to call up to enquire about my home loan. I got a fantastic rate and have no hesitation with moving othrr products over should they be available in the near future. Lisa did an amazing job and kept me up to date every step of the way. Thank you Reduce Home Loans for the exceptional service and most of all saving me money which helps me pay off my home loan sooner. I am a very happy customer.

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AmaZing rates!

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We had a great experience refinancing with reduce. The process was easy and relatively quick and the rate can not be beaten!! Customers service was also great, got back to me with all my questions very very quickly.

Excellent rates, great service

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Excellent rates attracted me to Reduce loans for a refinance activity.
Whole process was straight forwards with the only delay being my time to complete the forms. Good feedback and communication throughout.
Highly recommended

Smooth process from start to finish

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Started the process in late 2020 to refinance to a better rate. Company reps very responsive despite it being a very busy time. Very smooth process with clear instructions along the way. Costs were detailed up front and there was nothing unexpected. Disappointed in the convenience of redraw being web-only - no app. But otherwise very happy with the process and the final rate!

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Scott
ScottGreater Melbourne (Metropolitan), VIC

Great rate.

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Reduce home loans offer a fantastic home loan rate which is far better than any of the big 4 can offer. The process of getting all your documentation can be a bit tedious but the reward of a great rate at the end of it is worth it. Customer service was always able to get through to them really quickly when needed. Would recommend Reduce.

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Melanie
MelanieSouth East Queensland, QLD

Made the refinancing process seamless !!!

published

Great customer service. Prompt responses to our questions. No unexpected costs. The rate we received is fantastic. Very helpful when it came to changing the date on which our monthly payment is made.

Excellent service

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Reduce home loans provided excellent service and were very helpful with any questions I had. They provided the best rates and features that I could find any where in the internet. They had excellent communication and will definitely be recommending to friends and family

Sam R
Sam RSydney, NSW
  • 4 reviews
  • 1 like

Love the best rate in all over Australia

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Process was well explained and easy to follow. Rhyse guided us all the way through, he was just an email away, attended to our inquiries almost immediately . I wouldn’t hesitate a single moment to recommend Reduced Homeloan to my family and friends.

Julianok
JulianokGreater Melbourne (Metropolitan), VIC

Good service with a great rate

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Good experience with Dane rate is great but the only con was it took to long to process the application and we had to submit payslips 3 x times along with other info due to this, very frustrating.
Mezy account setup was not explained to us, the wife and I have sperate accounts and can not pay/transfer money without the other authorizing it first, what an inconvenience to us for paying bills etc and was told this is the only option that you have! Due to this we will be finding another bank that makes it easier for us to do our everyday banking while controlling the mortgage also and they have no app in this day and age why?!

Easy transaction

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Friendly staff that are more than happy to help any way they can.
It was an easy change over and a very competitive rate.
reduce took care of everything.
We would highly recommend reduce home loans

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Harpoon H.
Harpoon H.Greater Melbourne (Inner), VIC

Competitive rates secure web site

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Pro : Good competitive rates . Origin funder loan with 4k cashback ( Higher rates with Bendigo). Secure banking site with 2 step authentication ( powered by ANZ). Free redraw . Con: Settlement took 5 months from initial approval due to complexity and miscommunication with funder Origin. Origin only allows max daily withdrawal of 5k electronically or up to 10k with a written request from either redraw or offset accounts.

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Simple refinancing and a very competitive rate

published

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

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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.

Good rates and Jacqueline was excellent

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Good rates and Jacqueline was excellent. The approval process took a while but once it was approved we are very happy with the interest rate and post approval support experience.

Paul Carron
Paul CarronGreater Melbourne (Metropolitan), VIC
  • 4 reviews

One of the best for rates and cashback and excellent customer service

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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.

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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 ;)

Great knowledge and service

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My broker was David Easey and he explained the process very clearly and took his time to discuss the pros and cons of different loan types. He was prompt in replying to any of my queries over the phone or email. I'm glad that I went through reduce home loans for my mortgage. I was also assisted by Kurt Trendle and Jet Curtis who were also very knowledgeable and provided great customer service.

Paul S
Paul SSouth East Queensland, QLD
  • Verified

My cheap rate just got cheaper

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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!

Great product, great rate, great service!

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Great product, great rate, great service! I spoke to numerous providers and Reduce offered the best product and were engaged and proactive in finding the best possible solution. Would use again!

  • Verified

A streamlined process with great communication

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Jess
Jess Sydney Surrounds, NSW
  • Verified

A painful process made easy

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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

Page 3 of 17

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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