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Reduce Home Loans

Reduce Home Loans

4.2 from 949 reviews · View Statistics

Reviews

4.4

43 reviews
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Next

Great value, professional service.

published

We took out a construction loan with Reduce home loans to build a new home for our family. We found Gary to be friendly, professional and very responsive. Great value service

Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateJanuary 2021
Loan used forHome Construction
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Reduce Home Loans - Excellent Experience

published

We used Reduce Home Loans to fund construction of our forever home and had the pleasure of working with Lisa as our Finance Manager. Our experience was very smooth and Lisa went above and beyond to have everything in place and all the information we needed. To the extent that Lisa was updating our documentation late afternoon on Christmas Eve and New Years Eve, which was greatly appreciated. We recommend engaging Reduce Home Loans to discuss your financing needs.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateFebruary 2021
Loan used forHome Construction
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Cherie S.

Cherie S.South East Queensland, QLD

an easy loan process

published

We had an easy loan process and appreciated the quick responses and follow up with loan documents and our many questions! There are lots of documents required initially but the process after that was fast.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forHome Construction
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Craig Murphy

Craig MurphyGreater Melbourne (Metropolitan), VIC

Great rates, quick and easy process

published

Reduce offered exactly what we were after - a highly competitive (if not the best available) rate and a simple, no frills loan product. Bryce was extremely helpful explaining our options and prompt to reply to any questions we had. The fee structure was straightforward, and the entirely online process easy to navigate.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateJanuary 2021
Loan used forSecond Home
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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.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateJanuary 2021
Loan used forSecond Home
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Cheapest Variable Rate Available

published

Reduce Homes Loans and Noel Cosca and the team very great. Process was easy and settlement occurred on time. Highly recommended and have no problems in referring anyone who wants a cheap interest rate and an easy process to achieve this objective.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan Start DateJanuary 2021
Loan used forSecond Home
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excellent service

published

This was our second application with Reduce Home Loans, again great rate and supportive customer services. A big thank you to Dane, the Personal Finance Manager for my case and to the Settlement Department team.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forHome Construction
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The reviewer stated that an incentive was offered for this review

Navil

Navil

  • 3 reviews
  • 1 like

Good service, fast, responsive, knowledgable

published

David was helpful and easy to deal with, responsive and answered questions promptly.
I had a few challenges with meeting the approval criteria, and David helped me identify the simplest and easiest way to meet those requirements, ultimately allowing me to settle without having to endure any extra costs or delays.
Thank you.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateSeptember 2020
Loan used forSecond Home
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Carla

Carla

  • 2 reviews
  • 2 likes
  • Verified customer

Chasing simplicity and a refined home loan? Reduce Home Loans is where you need to start.

published

The call centre was amazing, so quick to respond to my queries and if they didn't know the answer they contacted me and emailed me with the answer. Lindsay managed my case and saw the whole process through from end to end, she always provided an answer within the timeframe that she quoted. In the end I came out with a no fuss-low rate loan, no bank non-sense just a good honest product. No one needs the fluff that banks carry on with, if you're chasing simplicity and a refined home loan - Reduce Home Loans is where you need to start.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateJune 2020
Loan used forSecond Home
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Travis

TravisGreater Melbourne (Metropolitan), VIC

  • Verified customer

Great service and updates

published

Great rate home loan. I was talked through the process. All my questions answered and things explained. David was excellent, kept me updated and told me what needed to be done to get my loan approved. Recommend highly

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateApril 2020
Loan used forSecond Home
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Luke Banham

Luke BanhamWestern Australia

RHL provided a great service while purchasing a new home in 2019 and re-financing in March 2020

published

Reduce Homeloans provided a great service while purchasing a new home in March 2019 then re-consolidating debt March 2020 while also getting one of the lowest interest rates around. Much better than the big 4 banks. Have recommended RHL to many work colleagues and friends since. Thanks Reduce Homeloans.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateMarch 2019
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

kathryn

kathrynPerth, WA

great rate easy process

published

company offered a great home loan rate, easy to use and apply for. We end up saving heaps each month on our home loan which is great for us. Happy customer

Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateJanuary 2020
Loan used forSecond Home
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Phil Hall

Phil HallSouth East Queensland, QLD

Great product. Most competitive in the market. Flexible options

published

Great customer service, providing flexible options to consider.
No unexpected or hidden costs. Cost structure well explained and refund provided as promised
Very satisfied with the product. Very competitive home loan rate.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateOctober 2019
Loan used forSecond Home
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Very helpful and professional

published

I have had a good experience with Reduce Home Loans, I am happy with their rates when compared to other lenders out there. Everything i was told came to be and the customer service was excellent. I would recommend them to anyone looking to obtain finance. Give them a call..!

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateOctober 2019
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

Leo

LeoGreater Melbourne (Metropolitan), VIC

  • 2 reviews
  • 1 like

Good rates if you have your paperworks sorted

published

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.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateSeptember 2019
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

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Lowest cost, least hassle

published

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.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateMarch 2019
Loan used forSecond Home
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Marcus

MarcusCentral Highlands and Goldfields, VIC

Low interest, top service

published

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.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateJanuary 2018
Loan used forSecond Home
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Efficient and swift

published

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.

Transparency
Customer Service
Loan TypeVariable Rate
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

Great rate. No hassle setup.

published

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.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forSecond Home
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The reviewer stated that an incentive was offered for this review

John Sheehan

John SheehanWide Bay-Burnett, QLD

  • 8 reviews
  • 3 likes

Best in the business. Should have switched years ago!!

published

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+++

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forSecond Home
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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.

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