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Reduce Home Loans

Reduce Home Loans (page 2 of 9)

4.2 from 991 reviews · View Statistics
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Reviews

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Home loan rate excellent and great customer service

published

We settled a loan recently with the reduce home loan team and the experience was overall very good. Customer service was prompt in responding to queries and very helpful. With an excellent rate for the loan to top it off. Thanks again to the home loan team

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forRefinancing
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Brendan
Brendan Sydney, NSW

Great Loan and Best Rate!

published

Recently settled on a loan with Noel. Was a fairly easy process and with relatively short time frame was able to get loan and approved in time! Thanks Noel for your efforts and sorting out bits and pieces when you were on leave!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateFebruary 2020
Loan used forInvestment Property
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Other Home Loans

 
 

0.0
(1,234)
Ruben
RubenVictoria
  • 2 reviews

Reduce home loan...thumbs up

published

Great home loan packages(s) available here. Customer service was great indeed. Their dedicated team members were there to help me throughout the whole process.Very prompt in attending to all queries/issues.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised Review No
Loan Start DateJanuary 2021
Loan used forRefinancing
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LC Lu
LC LuSouth East Queensland, QLD

Good choice for refinance

published

We recently settled on Rate Cutter Home Loan. Customer service was professional and responsive. Nick Freney the personal finance manager and his team monitored our refinance application to ensure smooth transaction. Highly recommend product and service!

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

Other Home Loans

 
 

0.0
(1,234)
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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The reviewer stated that an incentive was offered for this review

Home Loans

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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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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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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

Other Home Loans

 
 

0.0
(1,234)
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 Loans

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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

Great product, great rate, great service!

published

Great product, great rate, great service! I spoke to numerous providers and Reduce offered the best product and were engaged and proactive in finding the best possible solution. Would use again!

Transparency
Customer Service
Application Process
Timeliness
Incentivised Review No
Loan TypeVariable Rate
Loan Start DateOctober 2020
Loan used forInvestment Property

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 Review No
Loan TypeFixed Rate
Loan used forInvestment Property
  • 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

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

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

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 Review No
Loan TypeFixed Rate
Loan Start DateSeptember 2020
Loan used forInvestment Property
Page 2 of 9

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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