Not bad service for an online lending agency, a lot of documents were required and a long process but hey it’s cheap and that’s what counts when it’s all set up.
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.
Easy set and access.
Excellent before and after service. No unexpected costs and very fast and easy set up of loan. Extremely easy to access redraw and receive money within 24 hours. Very satisfied with the loan.
Great prompt service, email responded to quickly not only for this loan but also other inquiries. Exceptional value for money, the best I could find. Best of all no hassles.
Great service again
I took out my investment loan from Reduce Home Loan the second time in April 2019. I have my loan pre-approved in October 2018. However, I was unable to find a suitable house until February 2019. Then I resent some updated documents as per request and got another pre-approval within a few days. Unfortunately, I had to withdraw my purchase due to unsatisfactory house inspection report. Then I found another property in March and needed a fast settlement. Reduce has managed to settle my loan within 3 weeks which I was so impressed with their service.
best rates on the market
I currently have two investment home loans with them one of them for 2 years. So far the rates are very competitive to the market and what my product offers. Good customer service. Broker that handled my loan was very helpful. Though their online portal still needs some improvement. Very happy overall.
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
Great interest rates
Reduce home loans have very competitive interest rates compared to the market. I’ve been with several different banks for my interest only investment loan and reduce home loans have some of the best rates on offer
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!
Reduce home loan
Been with reduce for over a year haven’t had any problems, the mezy online portal is easy to use and rate is competitive. Would recommend to anyone looking for a good rate.
Decent service given the low rate
Reduce's rate was far better than we could find anywhere else. Our representative David worked very hard to get it all done, and it did get done in the end.
It wasn't always a straightforward process though. We had quite a few delays, including multiple occasions when we were asked for documents that we'd already sent before. We also had to pay penalty interest when their solicitors held up settlement because they had a policy that they needed three business days to schedule settlement.
But overall, I would recommend them and I'm sure they'll...save us thousands over the life of the loan. Just be aware that things might take a bit longer than with a regular bank, and you won't be able to see anyone in person. You can still talk over the phone though, and David kept in regular contact throughout the process. We also just settled today, so we can't rate the ongoing service nor can we comment on others' reviews that their interest rates went up shortly after joining.
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.
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.
Easy to deal with
Don’t be put off by all the names i.e. Reduce/ Mortgage Ezy/ Columbus, the product is a good no-fuss loan at a cheap rate. The web site is accessible and reliable.
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.
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.
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.
Great service and rates
Immediate response from
Customer service. Easy access to phone calls and emails . Person looking after me would always follow up on what was needed. Even though there was a Time difference between Brisbane and Sydney - it all worked out well
Great product, easy process
Easy product with great rates, fees and service. I have several mortgages and will be looking to refinance with them in the near future. Highly recommend if you looking for a home loan.
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.
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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