The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $1,500,000 with an LVR below 75%

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $1,500,000 with an LVR below 75%

The details shown below are for an owner occupier taking out a interest only loan between $50,000 and $1,500,000 with an LVR below 75%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 75%

    Loan: $50,000 $1,500,000

  • Owner Occupier (Principal & Interest)

    LVR < 75%

    Loan: $50,000 $1,500,000

  • Owner Occupier (Interest Only)

    LVR < 75%

    Loan: $50,000 $1,500,000

Rate
1.99% p.a.
Comparison Rate
1.99% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
2.29% p.a.
Comparison Rate
2.29% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
2.29% p.a.
Comparison Rate
2.29% p.a.
Service fee
$0.00
Upfront fee
$0

Mozo editorial review Reduce Home Loans Low Rider

Last updated: 10 November 2020.

binocular icon
What's hot
  • Low 1.99% variable interest rate (2.06% p.a. comparison rate*)
  • No upfront or ongoing account fees
  • Double 2020 Mozo Experts Choice Award winner
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 1.99% p.a. (2.06% p.a. comparison rate*), the Reduce Home Loans Low Rider Home Loan takes the cake as one of the lowest rates in our database (at time of writing). Better yet, it took out two 2020 Mozo Experts Choice Awards in the Best Low Cost Home Loan and Best Offset Home Loan categories.

key icon
Key features

Sitting on the lower end of the interest rates spectrum in the Mozo database, the Reduce Home Loans Low Rider Home Loan offers super competitive variable rates from 1.99% p.a. (2.06% p.a. comparison rate*) for owner-occupiers on loans between $50,000 and $1,000,000, with a 75% maximum LVR.

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. What's more, there's no upfront or service fees driving up the overall cost of this loan.

snapshot
Who is it good for

Jam-packed with incredible features, the Reduce Home Loans Low Rider Home Loan is a great option for Aussies looking to buy a new house, particularly those with enough cash saved up to cover the 25% minimum deposit.

question icon
Any catches

If you decide to go with the Reduce Home Loans Low Rider Home Loan, just make sure you’ve got enough deposit saved up to meet the maximum 75% LVR.

Details

Rates and fees information correct as at 28 January 2021. 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
  • 1.99% p.a.

  • n/a

  • n/a

  • n/a

  • 1.99% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $1,500,000

  • none

  • 75.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • yes - with 0.05% interest rate loading

  • Add 0.30% for loans over $1,000,000

  • 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.

Details

Rates and fees information correct as at 28 January 2021. 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
  • 2.29% p.a.

  • n/a

  • n/a

  • n/a

  • 2.29% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $1,500,000

  • none

  • 75.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • yes - with 0.05% interest rate loading

  • Add 0.30% for loans over $1,000,000

  • none

  • Cash back from $2,000 to $4,000 depending on amount borrowed.

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 28 January 2021. 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
  • 2.29% p.a.

  • n/a

  • n/a

  • n/a

  • 2.29% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $1,500,000

  • none

  • 75.00%

Features
  • Owner Occupier

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • yes - with 0.05% interest rate loading

  • Add 0.30% for loans over $1,000,000

  • 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
8.0/10
Price
9.3/10
Features
7.3/10
Customer service
7.7/10
Convenience
8.5/10
Trust
6.9/10

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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.