Reduce Home Loans home loans

Reduce Home Loans
Reduce Home Loans's overall rating for home loans

(as rated by the Mozo community)

9.5 / 10

based on 4 reviews

Reduce Home Loans is primarily an online lender, which means low overheads and savings for its customers. It specialises in home loans, and has a simple application and approval process designed to have you in your own home as quickly and easily as possible.

Rates and fees verified as correct at 27 April, 2017. Other information correct at the time of writing.

What home loans do Reduce Home Loans offer?

Fixed Rate Home Loans Fixed Rate Home Loans

If the security of a set monthly budget is important to you, then check out the fixed rate home loan offer from Reduce Home Loans. You can borrow up to 96% of the property’s value, starting at $50,000, and to help you pay off your loan quicker, you’ll be able to make up to $20,000 in free extra repayments each year. You’ll also have the option to split your loan between fixed and variable rates for a blend of certainty and flexibility. Just keep in mind, there are upfront legal, application, settlement and valuation fees to consider.

Home loan repayments calculator
years
Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

3.92% p.a.

3.64% p.a.

$0.00

$900


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Variable Rate Home Loans Variable Rate Home Loans

Take a look at a Reduce Home Loans variable rate offer if you’re after flexible money saving features on your mortgage. Like the fixed rate alternative, you can borrow up to 95% of the property’s value, starting from $50,000. In terms of features, you’ll have the ability to make unlimited free extra repayments, a free redraw facility and the use of an offset account. But don’t forget to budget for the upfront application, valuation, legal and settlement fees.

Home loan repayments calculator
years
Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

3.77% p.a.

3.83% p.a.

$0.00

$900

4.02% p.a.

4.08% p.a.

$0.00

$900

3.67% p.a.

3.73% p.a.

$0.00

$900

3.92% p.a.

3.98% p.a.

$0.00

$900

4.02% p.a.

4.08% p.a.

$0.00

$900

4.27% p.a.

4.33% p.a.

$0.00

$900

3.92% p.a.

3.98% p.a.

$0.00

$900

4.17% p.a.

4.23% p.a.

$0.00

$900

3.72% p.a.

3.78% p.a.

$0.00

$900

3.47% p.a.

3.53% p.a.

$0.00

$900

3.72% p.a.

3.78% p.a.

$0.00

$900

3.97% p.a.

4.03% p.a.

$0.00

$900

3.39% p.a.

3.46% p.a.

$0.00

$1,164


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Reduce Home Loans home loan features in a glance

Free extra repaymentsFree extra repayments

Make free additional repayments and pay your mortgage off in no time. Remember that while these extra repayments are unlimited on variable rate options, they’re capped at $20,000 p.a. for fixed rate offers.

Flexible repayment scheduleFlexible repayment schedule

Choose to make your home loan repayments monthly, fortnightly or weekly - whatever suits your budget best.

Split rate optionSplit rate option

Can’t decide between the security of fixed rates and the flexibility of variable? Get the best of both worlds by splitting your Reduce home loan between them.

How are Reduce Home Loans home loans rated?

How do Reduce Home Loans rank in the eyes of its customers? Find out in our customer review section, where everyday Aussies rate their mortgages in areas like trust, convenience and customer service.

Reduce Home Loans home loans

Overall 9.5*

Price

Features

Customer service

Convenience

Trust

4 Reviews

* Overall rating based on reviews in the past 12 months.

Recent Reduce Home Loans home loan reviews Recent Reduce Home Loans home loan reviews

Reduce Home Loans

Reduce Home Loans home loan review

Overall rating   10 / 10

Happy Camper

Refinanced and was a bit sceptical at 1st as it was the first time I had dealt with a non bank, let alone online so I checked them out on various Review sites and to my surprise found the were rates 5 stars by Canstar which my Bank wasn't. I am...

Refinanced and was a bit sceptical at 1st as it was the first time I had dealt with a non bank, let alone online so I checked them out on various Review sites and to my surprise found the were rates 5 stars by Canstar which my Bank wasn't. I am happy to say dealing with Reduce was leagues above my Bank who have known me for over 15 years and they have the lowest 'genuine' rate by a Country mile.

    Price   10 / 10

    Features   8 / 10

    Customer service   7 / 10

    Convenience   8 / 10

    Trust   7 / 10

Less

Pete (NSW), reviewed about 1 year ago

Reduce Home Loans

Reduce Home Loans home loan review

Overall rating   10 / 10

Reduced home loans reduced my rate!

I received a great rate and great service from Reduced HL. Compare if you like, but you won't get service like this from the big banks! I got a great rate on a fixed term & they're only a phone call away if I have any questions. 10/10.

I received a great rate and great service from Reduced HL. Compare if you like, but you won't get service like this from the big banks! I got a great rate on a fixed term & they're only a phone call away if I have any questions. 10/10.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Christopher (NSW), reviewed over 1 year ago

Reduce Home Loans

Reduce Home Loans home loan review

Overall rating   10 / 10

Very helpful and such a great interest rate.

I just got my loan through Reduce and I can say I would happily recommend them to anybody, Rhyse was very knowledgeable and helped guide me through everything. Thank you.

I just got my loan through Reduce and I can say I would happily recommend them to anybody, Rhyse was very knowledgeable and helped guide me through everything. Thank you.

    Price   10 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   8 / 10

Less

Jess (QLD), reviewed over 1 year ago

Reduce Home Loans

Reduce Home Loans home loan review

Overall rating   10 / 10

True to name reducing my rate and the red tape!

Awesome service, great rate, free ATM transactions and no interest Visa even for cash advances had me laughing all the way away from the Bank!

Awesome service, great rate, free ATM transactions and no interest Visa even for cash advances had me laughing all the way away from the Bank!

    Price   10 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Edward (QLD), reviewed almost 2 years ago

Reduce Home Loans

Reduce Home Loans Home Owners Dream Fixed Fee Free 80% (Owner Occupier) home loan review

Overall rating   8 / 10

Best when compared to rest

Good, reliable .

Good, reliable .

    Price   7 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

Pramatha (VIC), reviewed almost 2 years ago

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Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

* The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

What do you need to apply for a Reduce Home Loans home loan? What do you need to apply for a Reduce Home Loans home loan?

You can give Reduce Home Loans a call or fill out the form on its website to enquire about a home loan. When you do, they’ll assess your eligibility and get in touch to talk you through the home loan application. 

To make all that go a little smoother and increase your chances of approval, here are a few things you should have:

  • I.D
  • Proof of income (pay slips or bank statements)
  • A list of your assets and debts
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