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Reduce Home Loans

Reduce Home Loans

4.2 from 950 reviews · View Statistics

Reviews

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Great experience!!

published

I would like to thank Nick Freney for assisting me to negotiate a better deal with my bank. I sent him an email and he was very efficient, he spent approximately 45 minutes on the phone to find the best options according to my needs, objectives, and financial situations. He is easily contactable, friendly with a warm attitude. He negotiated the best deal very quickly, and I must admit that I am extremely happy with the outcomes, no doubt, he has been exceptional. I would highly recommend his services to anyone. Thank you Nick!!!

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeFixed Rate
Loan used forInvestment Property
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Edson S.

Edson S.Perth, WA

  • 2 reviews

Great rate and customer service

published

Excellent customer service, Reduce Home Loans team provided the best mortgage rate in the market. I was paying 4.32% with Macquarie bank and now I am paying only 2.49% with them. Thank you Guys!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeFixed Rate
Loan Start DateSeptember 2020
Loan used forInvestment Property
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Bao

BaoSydney, NSW

Best rates, very helpful and great support and service

published

Cheapest rates around and loan was with Adelaide / Bendigo bank which gave me some comfort.

Lisa Whitla was great and very helpful throughout the whole process, especially given the tougher lending conditions and turn around times with COVID.

Would respond promptly and help explain each step of the process and any alternatives available. Highly recommended and referred a friend to her who had their loan approved and settled easily as well.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeFixed Rate
Loan used forInvestment Property
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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
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Real reviews

Real reviewsSouth East Queensland, QLD

  • 4 reviews
  • 3 likes
  • Verified customer

Exemplary Service Throughout

published

We were managed by Lisa Whitla from the outset and throughout the process for our investment properties. Lisa was exceptional with her service, follow-ups and assistance for any question. Even the questions we wanted clarification from the credit team, Lisa would mediate this in a very timely manner. Pre-approvals and formal approval periods are a matter of urgency and transparency is very important also (which is a rare commodity), Lisa also viewed these matters the same.

I would recommend Reduce for not only the Great rates for investment properties but also the service given, this makes it a smooth, stress free process (as much as possible) from what we have endured with other providers.

Highly recommend Lisa and the Reduce team.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeFixed Rate
Loan Start DateAugust 2020
Loan used forInvestment Property
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Chris

ChrisLaunceston, TAS

Very happy customer

published

Reduce Homeloans was recommended to me by a work colleague. I compared interest rates with my bank and theirs. After discovering that I was paying a much higher rate I went back to my bank and asked for a better rate. After being a customer for over 20 years they still could not match the rate Reduce Homeloans was offering me.
I decided to make the switch from one of the big 4 banks and the process could not have been easier.
I was guided throughout the whole process and was continually kept informed of how the application was going.
The only thing I regret is that I didn’t make the switch to them earlier. I highly recommend everyone talk to Reduced Homeloans if you are looking for a new home loan or wanting to switch lenders.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeFixed Rate
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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
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Great rates

published

Got a wonderful fixed rate. Happy with the service provided to settlement and with the online banking system. Switched lenders to Reduce to save money. Have achieved that. Thanks Reduce.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
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The reviewer stated that an incentive was offered for this review

Minh Tran

Minh TranGreater Melbourne (Outer), VIC

  • 4 reviews
  • 1 like

Home loan with a good rate and with great flexibility, great customer service

published

RHL offers a great rate and flexibility with 100% offsets for both fixed and variable rate loans which is exactly what I am after. Customer service has been great. All communications via email and phone was prompt. Always returning my missed calls. The settlement process has completed smoothly, though it took longer than I initially expected. The total process was 6 weeks in total. My only recommendation would be that RHL should consider implementing an online system as a single point to track the entire application process from start to settlement.

Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeSplit
Loan used forRefinancing
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Lowest rate in the market and fantastic customer service!

published

Nick Freney was brilliant to deal with and always made me feel like a highly valued customer, responding to my questions in a timely manner and demonstrating a great deal of empathy and patience. This was the best rate/product in the market and I was blown away by the amazing service - thanks Nick!

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateApril 2020
Loan used forRefinancing
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Friendly helpful staff.

published

Great rates making it an easy decision to change. Happy to recommend to anyone reading. Process was not difficult, a little time consuming, but no different to any other financing.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateFebruary 2020
Loan used forRefinancing
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The reviewer stated that an incentive was offered for this review

Mohamed

MohamedVictoria

A Fantastic broker efficient, reliable extremely professional and very experienced. Honest all the way

published

Very honest and experienced . Very professional and knows his products really well. Very helpful and precise . Recommended to others who said the same. The best broker in 21 yrs. Excellent customerservice

Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeSplit
Loan Start DateFebruary 2020
Loan used forRefinancing
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Brooke

Brooke

  • 2 reviews

Great customer service and an unbeatable rate.

published

I had a very positive experience with Reduce Home Loans. Gary was very prompt and explained everything very clearly. Nothing was too much trouble. The rate was the best I found. Highly recommend.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateJanuary 2020
Loan used forRefinancing
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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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Sandy G.

Sandy G.Sydney, NSW

stunning customer service online.

published

my experience with customer service was great.
No i did not receive any extra cost or other issues with this loan.
I am extremely satisfied and content with the interest rate for my loan.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeSplit
Loan Start DateSeptember 2019
Loan used forRefinancing
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The reviewer stated that an incentive was offered for this review

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Great to deal with

published

Simpl and easy to deal with, customer service better than the banks and far better rates! Would highly recommend looking at alternate options such as these non bank lenders, we’ll worth checking

Transparency
Customer Service
Application Process
Timeliness
Loan TypeSplit
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Sonika

SonikaFar North Queensland, QLD

Awesome!

published

Great interest rate and low fees!! Highly recommend this institution to anyone. My previous rate with a different bank was over 6%. Now it's only 3.39%. Saving so much $$$. Best move I've ever made.

Customer Service
Application Process
Loan TypeFixed Rate
Loan used forRefinancing
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The reviewer stated that an incentive was offered for this review

K Lacey

K LaceySydney, NSW

  • 3 reviews
  • 1 like

The team from Reduce were very helpful in making sure everything went to plan.

published

Applying for a mortgage can be a bit of an ordeal, but the team at Reduce made sure I had all my ducks in a row before sending on to the lenders.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeFixed Rate
Loan Start DateAugust 2018
Loan used forRefinancing
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Professional Partners

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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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