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Reduce Home Loans Low Rider

Advertiser disclosure

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $1,000,000 with an LVR below 70%

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $1,000,000 with an LVR below 60%

The details shown below are for an owner occupier taking out a principal & interest loan between $1,000,001 and $2,000,000 with an LVR below 70%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR 60%-70%

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

  • Owner Occupier (Principal & Interest)

    LVR < 60%

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

  • Owner Occupier (Principal & Interest)

    LVR < 70%

    Loan: $1,000,001 $2,000,000

Rate
2.19% p.a.
Comparison Rate
2.28% p.a.
Service fee
$0.00
Upfront fee
$1,020
Rate
1.99% p.a.
Comparison Rate
2.08% p.a.
Service fee
$0.00
Upfront fee
$1,020
Rate
2.49% p.a.
Comparison Rate
2.55% p.a.
Service fee
$0.00
Upfront fee
$1,020

Mozo editorial review Reduce Home Loans Low Rider - last updated: 28 July 2021

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What's hot
  • Low 1.99% variable interest rate (2.08% p.a. comparison rate*)
  • No upfront or ongoing account fees
  • Cashback offer from $2,000 (conditions apply)
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. (2.08% 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). On top of this, Reduce Home Loans is currently offering between $2,000 and $4,000 cashback, depending on your loan amount.

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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. (2.08% p.a. comparison rate*) for owner-occupiers on loans between $250,000 and $1,000,000, with a 60% maximum LVR, or 2.19% p.a. (2.28% p.a. comparison rate*) for loans up to 70% LVR. For loans over $1,000,000 and up to $2,000,000 the interest rate will be 0.30% higher and range from 2.49% p.a. (2.49% p.a. 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. What's more, there's no upfront or service fees driving up the overall cost of this loan.

Lastly, Reduce Home Loans is currently offering $2,000 cashback for loans between $250,000 and $1 million and $4,000 cashback for loans between $1 million and $2 million. To be eligible for this you will have to apply for a loan by 31 August 2021 and be funded by 30 September 2021. This is only available for loans over $250,000 and the LVR must be no more than 90%.

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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 30% minimum deposit.

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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 70% LVR.

Details

Rates and fees information correct as at 24 September 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

2.19% p.a.

n/a

n/a

n/a

2.28% 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

$0.00

n/a

$0.00

$0.00

Other financial bits

$50,000

$1,000,000

60.00%

70.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

no

yes - fees apply

$0.00

yes

yes - with 0.05% interest rate loading

Application and legal fees charged at settlement. Valuation fee charged at conditional

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 24 September 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

2.08% 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

$0.00

n/a

$0.00

$0.00

Other financial bits

$50,000

$1,000,000

none

60.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

no

yes - fees apply

$0.00

yes

yes - with 0.05% interest rate loading

Application and legal fees charged at settlement. Valuation fee charged at conditional

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 24 September 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

2.49% p.a.

n/a

n/a

n/a

2.55% 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

$0.00

n/a

$0.00

$0.00

Other financial bits

$1,000,001

$2,000,000

none

70.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

no

yes - fees apply

$0.00

yes

yes - with 0.05% interest rate loading

Application and legal fees charged at settlement. Valuation fee charged at conditional

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.

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Latest review of Reduce Home Loans Low Rider Home Loan

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.