??!
1 photo
Reduce Home Loans

Reduce Home Loans (page 2 of 2)

4.2 from 950 reviews · View Statistics

Reviews

4.2

42 reviews
Previous
Next
Filomena

FilomenaSydney, NSW

Great service and rates

published

Immediate response from
Customer service. Easy access to phone calls and emails . Person looking after me would always follow up on what was needed. Even though there was a Time difference between Brisbane and Sydney - it all worked out well

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateMay 2017
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Professional Partners

Looking for Home Loans?

Read the reviews for Professional Partners

170 reviews
Ad

Great product, easy process

published

Easy product with great rates, fees and service. I have several mortgages and will be looking to refinance with them in the near future. Highly recommend if you looking for a home loan.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forInvestment Property
Similar opinion? Write a review on ProductReview.com.au!
Page 2 of 2
See all Reduce Home Loans reviews

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.

See all Reduce Home Loans questions

Get an answer from our members and Reduce Home Loans representatives

ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.