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Reduce Home Loans

Reduce Home Loans (page 2 of 3)

4.2 from 959 reviews · View Statistics

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Nick

NickWimmera, VIC

Excellent interest rates

published

The service from the broker was punctual and communication was constant throughout the process. The interest rate offered is market leading and the products available are tailored to your needs. I would recommend Reduce Home Loans and go through the process again.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forFirst Home
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scubaannie

scubaannie

  • 2 reviews
  • 5 likes

Best interest rates

published

Reduce have the lowest interest rates and it was a quick process to get approved! Good communication. It was very smooth process. Would do it again if I had to!

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forFirst Home
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andrew.westaway

andrew.westawayGreater Melbourne (Inner), VIC

Great service and extremely cheap rate

published

The home loan rate provided was very attractive and is initially why I went with Reduced Home Loans.
I had a short settlement date and was worried it may not be met however the team at Reduced Home Loans was able to complete the application and have contracts ready for my review and signing within 4 weeks.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateFebruary 2020
Loan used forFirst Home
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Prasangi

PrasangiPerth, WA

Was an easy process! Guaranteed lowest interest rates!!

published

Lowest Interest rate and We save up to $400 monthly:) great customer service and so easy to approach them. Very transparent and no hidden charges. Highly recommended to anyone looking for new housing loan or switching loans:)

Transparency
Customer Service
Application Process
Timeliness
Loan used forFirst Home
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Great rates for investment loan

published

Very happy with Reduce Home Loans. The investment loan rates are amongst the best in the market. Excellent customer service and had a smooth settlement. Will be using Reduce Home Loans again. Thank you!!!

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forInvestment Property
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  • Verified

Excellent

published

Nick Freney at reduce home loans is the BEST.
We had a very complex situation for our investment loan and he got it all sorted with endless positivity. We won’t be going to anyone else for all future investments.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateJanuary 2020
Loan used forInvestment Property
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Dave

DaveSouth East Queensland, QLD

Lowest interest rate available

published

Reduce offer the best rate around without compromising on customer service. They keep in regular contact with you and help you through every step of the way. The fees are a little pricey but this is more than offset by the amazing rate so if you are looking for a mortgage of over 10 years...look no further.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateJanuary 2020
Loan used forFirst Home
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Justin H.

Justin H.Illawarra, NSW

Home loan - low-cost but high quality service

published

Thanks to our broker Leon and Reduce Home Loans for all your help with getting our investment loan expedited with maximum care and minimum fuss over a busy end of year period. Your personal service has been the best advertisement for choosing a non-bank lender. Low-cost and high quality is a rare to find in anything, let alone in an $800,000 home loan!

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

Great service and rates

published

The staff was great taking me start to end getting a good loan but also supporting me throughout the whole process. Tight settlement times were always a worry for me but we made it in time too. Highly recommended.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateSeptember 2019
Loan used forFirst Home
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Rachel K.

Rachel K.South East Queensland, QLD

A hassle but worth it in the end.

published

They required A LOT more information from me than my previous bank and it was a couple of months of emails back and forth almost daily but it was worth it for the money I'm now saving. The same loan is now costing me $150 a fortnight less so I definitely feel it will be worth my trouble over the life of the loan :)
Also they sent me a kit to grow your own chives as a welcome present so that was a cute touch.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateSeptember 2019
Loan used forFirst Home
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Abhinav B.

Abhinav B.Greater Melbourne (Metropolitan), VIC

  • Verified

Great rates and service on home loans

published

Have been with them for over 3 years - always provide best rates, are knowledgeable and prompt in their response. They take the time to review, listen and understand the situation and respond promptly

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forInvestment Property
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Excellent service from the Reduce Home Loans team

published

Nick was great to deal with, took care of everything for me, Barely had to lift a finger.
Great rates are also.
Very satisfied customer, thank you Nick and Marvin for all your help!

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

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David M.

David M.Western Australia

Great rates and great customer service

published

A great company to set up a mortgage with. The process went very smoothly and our sales rep was always available on the phone (Rhyse Taylor in Brisbane) to answer any questions we had)

We were worried about going with a 'non big 4 lender' bit so far so good and the interest rate is much better than any of the established banks were offering

Thanks

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateAugust 2019
Loan used forFirst Home
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Very unhappy

Very unhappyCentral Queensland, QLD

  • 2 reviews
  • 1 like

Reduce Home Loans - 5 STARS

published

It was great to be able to assess whether or not we were eligible for a loan online, without having anyone calling us to hassle us. The application process was all online and therefore painless, the rates are excellent. The loan is basic, with an offset account attached to a debit card, so we're not having to put up with all the 'bells and whistles' that we're not interested in. The most competitive rates in the market, they have a very efficient and simple offset facility.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forInvestment Property
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Michael

MichaelSouth East Queensland, QLD

  • 2 reviews
  • 3 likes

Best Interest Rate

published

Best rate in the market after RBA cut, have received first rate cut and pending for the second rate cut, call centre is helpful and provide quite response to the question.

Transparency
Customer Service
Application Process
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateJune 2019
Loan used forFirst Home
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Fantastic Service!!!

published

My partner and I went through Reduce Home Loans for our first purchase. Being our first home, we had a lot of queries. Leon Clark was incredibly helpful and patient with us. Highly recommend him + his team!

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

James S.

James S.

  • 2 reviews

Fantastic service

published

Great company, dedicated people, simplified the lending process, some of the best rates currently available, with minimal setup setup and ongoing fees, pleasure to deal with, would highly recommend if you are in the market for a new home loan.

Transparency
Customer Service
Timeliness
Loan TypeVariable Rate
Loan used forInvestment Property
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The reviewer stated that an incentive was offered for this review

RKS

RKSSydney, NSW

Great Rates and service

published

The rate savings are well worth the move. There was timely communication and service is friendly.
Highly recommend. They answered all the questions I had and were very patient as well.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateApril 2019
Loan used forInvestment Property
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Professional Partners

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Sam W.

Sam W.Greater Melbourne (Outer), VIC

Reduce helped us to get a great rate on a home loan, and settle in a very short time frame

published

Reduce helped us to get a great rate on a home loan, and settle in a very short time frame. Thanks for your help. The online loan management web app is good also.

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

Steve C.

Steve C.Greater Melbourne (Outer), VIC

Better than the big 5 banks

published

Just better service seen and better rates
I went to the banks out of interest and they were just a waste of my time. Even when they tried to match they couldn't

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

Page 2 of 3
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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.

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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