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
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
|
|
Owner Occupier | Principal & Interest | < 80% | $50,000 | $850,000 |
|
|
Owner Occupier | Interest Only | < 80% | $50,000 | $850,000 |
-
Owner Occupier (Principal & Interest)
LVR < 80%
Loan: $50,000 $850,000
-
Owner Occupier (Interest Only)
LVR < 80%
Loan: $50,000 $850,000
2.69% p.a.variable for 60 months and then 2.59% p.a.
2.71% p.a.
$0.00
Reduce Home Loans Low Rider
2.69% p.a.variable for 60 months and then 2.59% p.a.
2.71% p.a.
$0.00
Reduce Home Loans Low Rider
2.69% p.a.variable for 60 months and then 2.59% p.a.
2.71% p.a.
$0.00
3.19% p.a.variable for 60 months and then 3.09% p.a.
3.20% p.a.
$0.00
Reduce Home Loans Low Rider
3.19% p.a.variable for 60 months and then 3.09% p.a.
3.20% p.a.
$0.00
Reduce Home Loans Low Rider
3.19% p.a.variable for 60 months and then 3.09% p.a.
3.20% p.a.
$0.00
Mozo Review Reduce Home Loans Low Rider Review
Last updated: 1 October 2019.
What's hot:
Low 2.69% p.a. variable interest rate for first 5 years (2.71% 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 2.69% p.a. (2.71% 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 2.69% p.a. (2.71% 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 2.59% (2.71% 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 7 December 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
-
2.59% p.a.
-
2.69% p.a.
-
60 Months
-
Variable
-
2.71% 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
Details
Rates and fees information correct as at 7 December 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
-
3.09% p.a.
-
3.19% p.a.
-
60 Months
-
Variable
-
3.20% 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
Customer Reviews
How are Reduce Home Loans home loans rated by the Mozo community?
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2.86% p.a.
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3.90% p.a.
$500
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2.86% p.a.
$785
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2.99% p.a.
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3.23% p.a.
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2.99% p.a.
fixed 3 years
3.27% p.a.
$520
Promoted
Queensland Country Credit Union
RateSaver (Fixed)
3.49% p.a.
fixed 3 years
3.90% p.a.
$500
Promoted
Well Home Loans
Well Balanced Fixed
2.74% p.a.
fixed 3 years
2.84% p.a.
$785
Promoted
IMB Bank
Fixed Home Loan
2.84% p.a.
fixed 3 years
3.44% p.a.
$799
Promoted
Newcastle Permanent
Fixed Rate Home Loan (Premium Plus Package)
2.89% p.a.
fixed 3 years
3.96% p.a.
$0
