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Reduce Home Loans

Reduce Home Loans

4.2 from 929 reviews · View Statistics

Reviews

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GWM

GWMPerth, WA

  • Verified customer

Best rate, good service, no b/s

published

Reduce had the best rate I could find, but they were also easy to deal with and provide me with a no frills no fuss home loan. All I need is a low rate and an easy way to pay it down. Tick tick.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateJanuary 2021
Loan used forRefinancing

The reviewer stated that an incentive was offered for this review

Chaminda

ChamindaGreater 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.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateJanuary 2021
Loan used forRefinancing

The reviewer stated that an incentive was offered for this review

Katre B.

Katre B.South East Queensland, QLD

  • 2 reviews
  • 1 like

Wonderful

published

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.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan used forRefinancing

The reviewer stated that an incentive was offered for this review

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AmaZing rates!

published

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.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateFebruary 2021
Loan used forRefinancing

The reviewer stated that an incentive was offered for this review

Excellent rates, great service

published

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

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateJanuary 2021
Loan used forRefinancing
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.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateNovember 2020
Loan used forRefinancing

The reviewer stated that an incentive was offered for this review

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.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateJanuary 2021
Loan used forRefinancing
Paul Carron

Paul CarronGreater Melbourne (Metropolitan), VIC

  • 4 reviews

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

published

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!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateNovember 2020
Loan used forRefinancing

The reviewer stated that an incentive was offered for this review

Home loan refinance process and settlement.

published

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 ;)

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateNovember 2020
Loan used forRefinancing

The reviewer stated that an incentive was offered for this review

Home Loans

Find out how Reduce Home Loans compares to other Home Loans

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Paul S

Paul SSouth East Queensland, QLD

  • Verified customer

My cheap rate just got cheaper

published

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!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forRefinancing
  • Verified customer

A streamlined process with great communication

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateNovember 2020
Loan used forRefinancing

The reviewer stated that an incentive was offered for this review

Jess

Jess Sydney Surrounds, NSW

  • Verified customer

A painful process made easy

published

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

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forRefinancing

The reviewer stated that an incentive was offered for this review

Prashant

PrashantSydney, NSW

Click and Done

published

First of all I would like to thanks Bryce. As soon as I showed my interest to switch my loan, he was there to support meat every stage. It was a quick process and everything was settled in a month. The online process is so cool you just need to provide your documents and it keeps you moving towards your approval. The support team is awesome. It was a great experience and I got my best rate.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateOctober 2020
Loan used forRefinancing

The reviewer stated that an incentive was offered for this review

Great rates!

published

They have much lower rates compared to the mainstream banks. I am saving hundreds of dollars on interest per month after refinancing with Reduce Home Loans. Refinancing has definitely paid off.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateAugust 2020
Loan used forRefinancing

The reviewer stated that an incentive was offered for this review

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.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateJune 2020
Loan used forRefinancing

The reviewer stated that an incentive was offered for this review

Home Loans

Find out how Reduce Home Loans compares to other Home Loans

Know better, choose better.

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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

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateAugust 2020
Loan used forRefinancing
Dane

DanePerth, WA

  • 2 reviews

Excellent Service & Great Rate

published

We refinanced with Reduce home loans and got a fantastic fixed rate deal. We were assisted by Jacqueline who was amazing throughout the entire process and always kept us updated on the progress and was happy to discuss any questions or queries we had. We ended up getting a low property valuation however Jacqueline helped us challenge it and we got it revised up. The home loan application and approval took a few short weeks, we were then handed over to mortgage ezy & galilee solicitors for settlement. Not very impressed by Galilee (didn't take the time to explain anything and the communication was very poor), but highly recommend Reduce Home Loans

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateJune 2020
Loan used forRefinancing

The reviewer stated that an incentive was offered for this review

Julian

JulianSouth East Queensland, QLD

Low rate home loan, friendly service!!

published

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!

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateJune 2020
Loan used forRefinancing

The reviewer stated that an incentive was offered for this review

Amol

AmolSydney Surrounds, NSW

  • 2 reviews

Very happy customer from 3 years!

published

Started with fresh loan with lowest rate and again dealt with my finance manager Noel for refinance at lowest rate in the market. Flawless experience, great support, great online platform, peace of mind.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeFixed Rate
Loan Start DateNovember 2017
Loan used forRefinancing

The reviewer stated that an incentive was offered for this review

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.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateAugust 2020
Loan used forRefinancing

The reviewer stated that an incentive was offered for this review

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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.

2 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?

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.

2 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.

Get an answer from our members and Reduce Home Loans representatives

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