Reduce Home Loans Fixed Rate

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $2,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $2,000,000 with an LVR below 90%

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $2,000,000 with an LVR below 90%

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $249,999 with an LVR below 90%

The details shown below are for an owner occupier taking out a principal & interest loan between $250,000 and $2,000,000 with an LVR below 90%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $50,000 $2,000,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

    Loan: $50,000 $2,000,000

  • Owner Occupier (Principal & Interest)

    LVR < 90%

    Loan: $50,000 $2,000,000

  • Owner Occupier (Principal & Interest)

    LVR < 90%

    Loan: $50,000 $249,999

  • Owner Occupier (Principal & Interest)

    LVR < 90%

    Loan: $250,000 $2,000,000

p.a.

n/a

$0.00

Reduce Home Loans Fixed Rate

p.a.

n/a

$0.00

p.a.

n/a

$0.00

Reduce Home Loans Fixed Rate

p.a.

n/a

$0.00

p.a.

n/a

$0.00

Reduce Home Loans Fixed Rate

p.a.

n/a

$0.00

3.69% p.a.

3.71% p.a.

$0.00

Reduce Home Loans Fixed Rate

3.69% p.a.

3.71% p.a.

$0.00

3.69% p.a.

3.69% p.a.

$0.00

Reduce Home Loans Fixed Rate

3.69% p.a.

3.69% p.a.

$0.00

Mozo Review   Reduce Home Loans Fixed Rate Review

Last updated: 20 March 2019.

What's hot:
  • Low 3.59% p.a. fixed rate (3.73% p.a. comparison rate*) for 1 year fixed term

  • Free extra repayments up to $20,000 p.a.

What's not:
  • $440 application fee

Mozo snapshot:

When the word ‘reduce’ is in the title of a home loan lender you know things are headed in the right direction. The Reduce Home Loans Fixed Rate offer has low fixed rates starting from 3.59% p.a. rate (3.73% p.a. comparison rate*) for a 1 year term, plus a free extra repayments facility up to $20,000 p.a. Keep in mind, there are some hefty application, legal and valuation fees to budget for.

Key features:

The Reduce Home Loans Fixed Rate mortgage offer is a great loan to start home owners off on the right foot. There are a few different options, depending on your LVR, loan amount and the fixed term you’re locking in for.

1 year term: Comes with a 3.59% p.a. fixed rate (3.73% p.a. comparison rate*), LVRs up to 90%, and a 3.69% p.a. revert rate after the fixed period. You’ll need to budget for a $440 application fee, plus legal and valuation fees.

2 year term: Also boasts a 3.59% p.a. fixed rate (3.72% p.a. comparison rate*), LVRs up to 90%, and a 3.69% p.a. revert rate after the fixed period. For loans between $50,000 and $2 million, there's no application fee, but you’ll need to budget for settlement, legal and valuation fees.

3 year term: Comes with a 3.69% p.a. fixed rate (3.69% p.a. comparison rate*), LVRs up to 90%, and a 3.69% p.a. revert rate after the fixed period. The best part? There are no fees to worry about.

Pus, when it comes to features, there’s plenty of bells and whistles for first home buyers, including free extra repayments up to $20,000 p.a. and the option to split the loan between fixed and variable rates. There is also an offset account attached to the Reduce Home Loans Fixed Rate account for an extra $10 a month.

The maximum loan term for the Home Loans Fixed Rate is 30 years, plus, you’ll be able to choose either weekly, fortnightly or monthly loan repayments.

Who it's good for:

First home buyers who want to take the pressure off the first couple of years of their home loan repayments by locking in a low fixed rate.

Any catches?

While the features on offer include the option to make up to $20,000 in fee free extra repayments, think carefully about your budget before you do, because there’s no redraw facility. That means you won’t be able to get these extra repayments back if you have a financial emergency down the line.

Details

Rates and fees information correct as at 21 March 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • p.a.

  • p.a.

  • 0 Months

  • none

  • 3.59% (3.73%*)

  • (*)

  • (*)

  • (*)

  • (*)

  • (*)

  • (*)

  • 3.69% p.a.

Fees
  • $440.00

  • $370.00

  • $250.00

  • $0.00

  • none

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $2,000,000

  • none

  • 80.00%

Features
  • Fortnightly, Monthly

  • yes - free up to $20,000 p.a

  • no

  • no

  • none

  • yes

  • yes - $10/month

  • none

  • Option to waive fees when an extra 0.10% interest rate premium.

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 21 March 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • p.a.

  • p.a.

  • 0 Months

  • none

  • 3.59% (3.73%*)

  • (*)

  • (*)

  • (*)

  • (*)

  • (*)

  • (*)

  • 3.69% p.a.

Fees
  • $440.00

  • $370.00

  • $250.00

  • $0.00

  • none

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $2,000,000

  • 80.00%

  • 90.00%

Features
  • Fortnightly, Monthly

  • yes - free up to $20,000 p.a

  • no

  • no

  • none

  • yes

  • yes - $10/month

  • none

  • Option to waive fees when an extra 0.10% interest rate premium.

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 21 March 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • p.a.

  • p.a.

  • 0 Months

  • none

  • (*)

  • 3.59% (3.72%*)

  • (*)

  • (*)

  • (*)

  • (*)

  • (*)

  • 3.69% p.a.

Fees
  • $0.00

  • $370.00

  • $250.00

  • $150.00

  • none

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $2,000,000

  • none

  • 90.00%

Features
  • Fortnightly, Monthly

  • yes - free up to $20,000 p.a

  • no

  • no

  • none

  • yes

  • yes - $10/month

  • none

  • Option to waive fees when an extra 0.10% interest rate premium.

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 21 March 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • p.a.

  • p.a.

  • 0 Months

  • none

  • (*)

  • (*)

  • 3.69% (3.71%*)

  • (*)

  • (*)

  • (*)

  • (*)

  • 3.69% p.a.

Fees
  • $0.00

  • $370.00

  • $0.00

  • $0.00

  • none

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $249,999

  • none

  • 90.00%

Features
  • Fortnightly, Monthly

  • yes - free up to $20,000 p.a

  • no

  • no

  • none

  • yes

  • yes - $10/month

  • none

  • Option to waive fees when an extra 0.10% interest rate premium.

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 21 March 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • p.a.

  • p.a.

  • 0 Months

  • none

  • (*)

  • (*)

  • 3.69% (3.69%*)

  • (*)

  • (*)

  • (*)

  • (*)

  • 3.69% p.a.

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $0.00

  • $0.00

Other financial bits
  • $250,000

  • $2,000,000

  • none

  • 90.00%

Features
  • Fortnightly, Monthly

  • yes - free up to $20,000 p.a

  • no

  • no

  • none

  • yes

  • yes - $10/month

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Customer Reviews

How are Reduce Home Loans home loans rated by the Mozo community?

Overall customer rating
9.6/10
Price
9.4/10
Features
8.4/10
Customer service
8.6/10
Convenience
9.0/10
Trust
8.6/10

Latest review of Reduce Home Loans Fixed Rate

  • Overall
    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

    Pramatha | Victoria

    reviewed almost 4 years ago

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3.51% p.a.

$488

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3.97% p.a.

3.99% p.a.

$400

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3.72% p.a.

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3.79% p.a.

3.83% p.a.

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3.83% p.a.

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3.89% p.a.
fixed 3 years

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$520

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Reward Me Fixed Rate Home Loan - First Home Buyer Special

n/a

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$0

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Flexible Home Loan (Fixed)

4.14% p.a.
fixed 3 years

4.87% p.a.

$400

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UBank

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UHomeLoan (Fixed)

3.74% p.a.
fixed 3 years

4.01% p.a.

$395

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Tailored Home Loan (Fixed, Choice Package)

3.89% p.a.
fixed 3 years

4.92% p.a.

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Complete Fixed Home Loan (Package)

3.98% p.a.
fixed 3 years

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$250

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3.83% p.a.
fixed 3 years

3.64% p.a.

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3.79% p.a.
fixed 3 years

4.51% p.a.

$450

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.