Reduce Home Loans Low Rider

This product is available in different versions. Pick the right version for you here.

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $850,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a interest only loan between $50,000 and $850,000 with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $50,000 $850,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $50,000 $850,000

2.89% p.a.variable for 60 months and then 2.79% p.a.

2.91% p.a.

$0.00

Reduce Home Loans Low Rider

2.89% p.a.variable for 60 months and then 2.79% p.a.

2.91% p.a.

$0.00

3.39% p.a.variable for 60 months and then 3.29% p.a.

3.40% p.a.

$0.00

Reduce Home Loans Low Rider

3.39% p.a.variable for 60 months and then 3.29% p.a.

3.40% p.a.

$0.00

Mozo Review   Reduce Home Loans Low Rider Review

Last updated: 5 August 2019.

What's hot:
  • Low 2.89% p.a. variable interest rate for first 5 years (2.89% p.a. comparison rate*)

  • Loyalty bonus after 5 years

  • No ongoing account fees

What's not:
  • $440 application fee

Mozo snapshot:

If you’re about to buy a new home, you’re in luck! With super low variable rates starting at 2.89% p.a. (2.89% p.a. comparison rate*), the Reduce Home Loans Low Rider Home Loan officially takes the cake for the lowest rate in our Mozo database (at time of writing)!

Key features:

Officially the lowest rates in our Mozo database (at time of writing), the Reduce Home Loans Low Rider Home Loan offers super competitive variable rates from 2.89% p.a. (2.89% p.a. comparison rate*) for owner-occupiers on loans between $50,000 and $2,000,000, with a 80% maximum LVR. Plus, after 5 years, you'll score a loyalty bonus taking the rate down to 2.81% (2.89% comparison rate*).

On top of having some of the lowest rates around, the Reduce Home Loans Low Rider Home Loan goes the extra mile with tonnes of fab features, like, weekly, fortnightly and monthly repayment options, fee-free extra repayments and a super handy redraw facility for you to dip into should you ever need some extra cash.

But the fun doesn’t stop there! The Reduce Home Loans Low Rider Home Loan even comes with an optional split account so you can split between variable and fixed rates, and an optional offset account.

One thing you'll need to keep in mind with the Reduce Home Loans Low Rider Home Loan are the fees. While there is no service or discharge fee, you will pay a $440 application fee, a $330 legal fee, a $250 valuation fee and a $150 settlement fee. 

Who it's good for:

Jam-packed with incredible features, the Reduce Home Loans Low Rider Home Loan is a great home loan option for Aussies looking to buy a new house, particularly those with enough cash saved up to cover the 80% deposit.

Any catches?

If you decide to go with the Reduce Home Loans Low Rider Home Loan, just make sure you’ve got a 80% deposit saved up and have enough money set aside enough to cover the range of fees. 

Details

Rates and fees information correct as at 21 August 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
  • 2.79% p.a.

  • 2.89% p.a.

  • 60 Months

  • Variable

  • 2.91% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $440.00

  • $330.00

  • $250.00

  • $150.00

  • n/a

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $850,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • yes - with 0.05% interest rate loading

  • none

  • Waive $697 of fees with a 0.10% interest rate loading

  • 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.

Details

Rates and fees information correct as at 21 August 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
  • 3.29% p.a.

  • 3.39% p.a.

  • 60 Months

  • Variable

  • 3.40% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $440.00

  • $330.00

  • $250.00

  • $150.00

  • n/a

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $850,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • yes - with 0.05% interest rate loading

  • none

  • Waive $697 of fees with a 0.10% interest rate loading

  • 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

Promoted

loans.com.au

loans.com.au

Smart Home Loan

3.03% p.a. variable

3.05% p.a.

$520

Promoted

UBank

UBank

UHomeLoan - Discount Offer

3.09% p.a. variable

3.09% p.a.

$0

Promoted

Athena

Athena

Variable Home Loan

3.09% p.a. variable

3.05% p.a.

$0

Promoted

ME

ME

Flexible Home Loan (Member Package)

3.39% p.a. variable

3.83% p.a.

$200

Promoted

Suncorp

Suncorp

Back to Basics

3.29% p.a. variable

3.30% p.a.

$0

Promoted

Homestar

Homestar

Star Essentials Home Loan

2.99% p.a. variable

3.02% p.a.

$596

Promoted

HSBC

HSBC

Home Value Loan

3.27% p.a. variable

3.28% p.a.

$150

Promoted

ANZ

ANZ

Simplicity PLUS

3.38% p.a. variable

3.42% p.a.

$0

Promoted

loans.com.au

loans.com.au

Smart Home Loan

3.03% p.a.

3.05% p.a.

$520

Promoted

UBank

UBank

UHomeLoan - Discount Offer

3.09% p.a.

3.09% p.a.

$0

Promoted

ME

ME

Flexible Home Loan (Member Package)

3.39% p.a.

3.83% p.a.

$200

Promoted

Well Home Loans

Well Home Loans

Well Balanced

2.97% p.a.

2.99% p.a.

$785

Promoted

Homestar

Homestar

Star Essentials Home Loan

2.99% p.a.

3.02% p.a.

$596

Promoted

Athena

Athena

Variable Home Loan

3.09% p.a.

3.05% p.a.

$0

Promoted

Bank of Queensland

Bank of Queensland

2 Year Intro Rate Variable Home Loan

3.39% p.a.variable for 24 months and then 3.86% p.a.

3.91% p.a.

$150

Promoted

HSBC

HSBC

Home Value Loan

3.27% p.a.

3.28% p.a.

$150

Promoted

Bank of Queensland

Bank of Queensland

Fixed Rate

2.99% p.a.
fixed 3 years

4.09% p.a.

$450

Promoted

UBank

UBank

UHomeLoan (Fixed)

2.99% p.a.
fixed 3 years

3.45% p.a.

$395

Promoted

ME

ME

Flexible Home Loan (Fixed, Member Package)

3.18% p.a.
fixed 3 years

3.87% p.a.

$200

Promoted

IMB Bank

IMB Bank

Fixed Home Loan

2.99% p.a.
fixed 3 years

3.51% p.a.

$799

Promoted

Well Home Loans

Well Home Loans

Well Balanced Fixed

2.99% p.a.
fixed 3 years

3.11% p.a.

$785

Promoted

loans.com.au

loans.com.au

Fixed Home Loan

3.19% p.a.
fixed 3 years

3.43% p.a.

$520

Promoted

Newcastle Permanent

Newcastle Permanent

Fixed Rate Home Loan (Premium Plus Package)

3.24% p.a.
fixed 3 years

4.15% p.a.

$0

Promoted

Tic:Toc

Tic:Toc

Fixed Home Loan

n/a

n/a

$0

*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.