Great home loan rates
Reduce Home Loans offered us a market beating rate and the option of an offset account (great if you've got savings with current low returns on savings accounts). The application process is straightforward and completely online. Account managers are responsive when needed (not that we needed much assistance). We had to pay $250 valuation fee, up front which was refunded upon settlement. Online banking is available; there aren't many whistles and bells with the online accounts but that really isn't an issue.
Great Interest rate Reduce Home Loans
The customer service was great, online submitting of documents was easy and overall it was a good experience. I would recommend others look at Reduce as the interest rate is very competitive.
Fantastic, easy to deal with.had a very smooth transaction refinancing my home loan and saving thousands on interest. My interest rate was second to none. No hidden costs everything explained.
The interest rate was really good. It event got reduced with the cash rate cut that happened during the application period. Not the whole .25% but final rate was still very competitive. We had to fill quite a few documents, but it wasn't too hard. Customer support answered all the questions we had. We've got approved in 3 weeks and it took another 8 weeks to settle. I'm not sure is it wast or not, but in the end, for us it was the rate that mattered, not the speed or other fancy features, so we are happy.
Best Rates on the market
Definitely the best rates on the market, and great features too. Four loan splits, allows us to have four offset accounts to save for holidays, school fees etc. Process was a bit slow, but worth waiting for.
Finally a fair deal!
Moved from the big four banks into Adelaide Bank. Great reduction of the interest rates. Our savings are over $6 K a year! Couldn't be any better!! Thanks for your help team!
Yes, they did give me the attractive rate they were advertising
Great interest rates not just in their marketing materials, they actually offer the attractive rates they advertise.
I have two home loans and secure income, but when I approached few other online lenders with cheap rates, they wasted my time and after few weeks came back with a NO (saying you are too risky or exceeding your borrowing capacity.)
Hence, I was skeptical when I applied with Reduce Home Loans. However, within a few days of submitting my application, I got the conditional offer.
The Personal Finance Manager assisting me was ver...y prompt and patient to answer all my question (which I had a lot.) He was assisting me all the way to settlement. I felt the loan process was a bit slow though. However, when I called/emailed and pushed for an update, things moved rather quickly. However, there were no multiple follow-ups I had to do to move it. I felt it was well worth it for the best rate in the market. Hence, be prepared to chase them to move your application to settlement.
We refinanced with RHL and it was a good experience.
At first it was a little daunting (first time refinancing), but Dane was really good at responding to all my questions and responded very quickly every time!
For anyone that's reading, it basically goes in a few steps.
- Apply for product (be prepared for lots of paperwork)
- Conditional Approval (more paperwork)
- Property Evaluation
- Formal Approval (then fill in your discharge paperwork)...
Great service and rate
Process was much faster than our previous experience with an independent mortgage broker. Great low rate and great customer service - always spoke with friendly, helpful staff. Thank you - would recommend.
Great service, fantastic low interest rates. Thank you.
No extra costs, fantastic low interest rates. Good ustomer service. The process was a bit lengthy. Settlement took a bit longer then I expected. All interest cuts were passed on to us.
Unbelievably low rate home loan.
Not sure why you would have your home loan with anyone else when you can get the interest rate with Reduce.
Massive saving over the duration of the loan. Easy to set up although did ask for the same documents a few times due to taking a while and previous versions expiring.
Was nice to have the staff check in once set up to ensure everyone was happy.
Fantastic rate !
A very good and simple loan at a fantastic rate ! There is no red tape or unnecessary fees on you loan like monthly bank keeping fee . The customer service is very good.
Excellent service and great rate
I am very happy with customer service and follow up. I will obviously recommend to my friends for this home loan. i am saving hundreds of dollar each month. Good Customer service 5 *****
- Verified customer
I've had a good experience.
Reduce Home Loans had the cheapest home loan rate I could find, and naturally they can achieve this by making efficiencies in other areas. Though it did take a few months for me to get the paper work right, Lisa Fish and Marvin Mason kept me in the loop the whole way, and they both gave great service. I preferred to persevere with the paper work for the savings benefit of the low interest rate. I can recommend Reduce Home Loans to anyone else who wants the cheapest rate and is prepared to trawl through some paperwork over a couple of months.
Great to find a low rate home loan
Great customer service, application process was easy, was happy with the rate and now after a month it has been reduced even further so even more happy now, would recommend them to anyone looking to reduce their home loan
Great service and an even better rate
We recently refinanced to Reduce Home Loans. Was an easy process with great customer service. To top it off, Reduce just went in to bat for us for an even better reduction that was initially offered by the lender! Well done and thank you.
Long process but worth it.
Rhys and his personal assistant were so helpful throughout my refinancing. I had never been through this process before, so their answers to my many emails and some ph calls were much appreciated. I haven't incurred any extra costs during the process that I wasn't made aware of.
So happy with the rate I now have!
Reduce home loan - very happy
What a great improvement changing from a big bank to a more personalised & so much better rate home loan. The home loan process was all completed via email and was a little lengthy due to the amount of interest in the home loan rates - however every step of the way we were guided & all correspondence was answered quickly & efficiently by our loan representative. In the 6 weeks since our loan settled we have had 2 call from Reduce home loans enquiring about our satisfaction & whether we have any questions. Great service. Thanks.
Prompt and convenient. Great rates and service
Looking to refinance? Reduce made it seamless! Great customer service matched with the best interest rates I could find! Couldn't recommend them more! Great online experience and prompt replies made it so easy to change lenders.
stunning customer service online.
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.
Questions & Answers
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?
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?
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.
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.
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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