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Reduce Home Loans

Reduce Home Loans (page 2 of 8)

4.2 from 991 reviews · View Statistics
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Reviews

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Kevin
Kevin
  • 2 reviews
  • 1 like

Best interest rate

published

We managed to secure an unbeatable interest rate for our home loan with Reduce Home Loans and we are very happy with this. Overall we are very satisfied with the value and responsiveness of them, specifically with the allocated finance manager to our case. He managed our relatively complicated application very efficient and quickly and was able to respond our queries over the sms or email almost immediately. Perhaps for home loans, the low interest rate is the most important factor and for this reason I rate Reduce Home Loans the best in the market for the time being.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateFebruary 2021
Loan used forRefinancing
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GWM
GWMPerth, WA
  • Verified

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
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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.

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

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 Review No
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
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The reviewer stated that an incentive was offered for this review

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

Love the best rate in all over Australia

published

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.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateDecember 2020
Loan used forFirst Home
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The reviewer stated that an incentive was offered for this review

Other Home Loans

 
 

0.0
(1,234)

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 Review No
Loan TypeVariable Rate
Loan Start DateJanuary 2021
Loan used forRefinancing
Home Loans

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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
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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
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The reviewer stated that an incentive was offered for this review

Great knowledge and service

published

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.

Transparency
Customer Service
Application Process
Timeliness
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateDecember 2020
Loan used forFirst Home
Paul S
Paul SSouth East Queensland, QLD
  • Verified

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 Review No
Loan TypeVariable Rate
Loan used forRefinancing
  • Verified

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
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The reviewer stated that an incentive was offered for this review

Other Home Loans

 
 

0.0
(1,234)
Jess
Jess Sydney Surrounds, NSW
  • Verified

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
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The reviewer stated that an incentive was offered for this review

Home Loans

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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
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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
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The reviewer stated that an incentive was offered for this review

Adam M.
Adam M.Sydney, NSW

Good rate and responsive service

published

Excellent customer service, best rate available and very responsive. Made a complex process simple to navigate. Offered some good ideas that allowed us to structure our loans in a cost effective way. Highly recommended.

Transparency
Customer Service
Application Process
Timeliness
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateOctober 2020
Loan used forFirst Home
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
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The reviewer stated that an incentive was offered for this review

Ashleigh
AshleighSouth East Queensland, QLD

Made our first home easy and stress free!

published

We used reduce home loans for our first home. The process was super easy, stress free and professional. We were also given extensive information that made the whole process simple and straightforward. Reece was really attentive at answering questions and his years of experience and knowledge raised points we hadn’t yet considered.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised Review No
Loan TypeVariable Rate
Loan used forFirst Home
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 Review No
Loan TypeVariable Rate
Loan Start DateAugust 2020
Loan used forRefinancing

Great home loan rates & no fees

published

We looked into numerous lenders & found Reduce had a great rate & no fees. We switched to Reduce & made significant savings each fortnight that is now going directly toward reducing our debt faster. Lisa helped us through the process which made it easy to switch.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateJune 2020
Loan used forFirst Home
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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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
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The reviewer stated that an incentive was offered for this review

Amol
AmolSydney Surrounds, NSW
  • 4 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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Page 2 of 8

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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