Reduce Home Loans Rate Buster High Lend Variable

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 $200,000 and $3,500,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $200,000 and $3,500,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $200,000 and $1,000,000 with an LVR below 90%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $200,000 $3,500,000

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $200,000 $3,500,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

    Loan: $200,000 $1,000,000

2.77% p.a.

2.78% p.a.

$0.00

Reduce Home Loans Rate Buster High Lend Variable

2.77% p.a.

2.78% p.a.

$0.00

2.77% p.a.

2.90% p.a.

$10.00 monthly

Reduce Home Loans Rate Buster High Lend Variable

2.77% p.a.

2.90% p.a.

$10.00 monthly

2.99% p.a.

2.99% p.a.

$0.00

Reduce Home Loans Rate Buster High Lend Variable

2.99% p.a.

2.99% p.a.

$0.00

Mozo Review   Reduce Home Loans Rate Buster High Lend Variable Review

Last updated: 24 October 2019.

What's hot:
  • Variable rates from 2.77% p.a. (2.78% p.a. comparison rate*)

  • Free offset account

  • Double 2019 Mozo Experts Choice Award winner

What's not:
  • Legal and valuation fees on loans under $200,000

Mozo snapshot:

Reduce Home Loans understands that when it comes to your mortgage, simplicity is key. That’s why its Rate Buster High Lend Variable gives you exactly what you want from a home loan - a free offset account, the ability to make extra repayments, and a redraw facility - and still manages to keep rates and fees low.

Plus it's a multiple award winner - taking out two 2019 Mozo Experts Choice Awards for best Low Cost Home Loan and Offset Home Loan.

Key features:

Owner occupiers looking to take out a loan of up to $199,999 with an LVR below 80% will receive an excellent 2.77% p.a. (2.78% p.a. comparison rate*).

When it comes to fees, there are a few one-off charges you’ll have to budget for, namely the $275 legal fee and $250 valuation fee.

If you’ve got your sights set on a larger property, you’ll be happy to know the same great deal applies. Borrow between $200,000 and $2,000,000 for a property with an LVR of less than 80% and you’ll receive the same low variable rate, minus the legal and valuation fees.

This loan is also available with a smaller deposit, between 10% and 20%, but keep in mind the interest rate on offer isn't quite as sharp.

No matter the size of the loan, you’ll get access to plenty of handy features. At the top of the list is the free offset account, which will help the savvy borrower save on interest. You’ll also be able to get on top of your home loan by making free extra repayments, and if your circumstances change and you need to retrieve those funds you can easily do so with the free redraw facility.

Reduce Home loans also gives its customers the option to split their home loans between fixed and variable rates, as well as pick between weekly, fortnightly and monthly repayments.

Who it's good for:

With its low rates and numerous features, the Rate Buster High Lend Variable would be great option for most buyers, whether they’ve already got a foot on the property ladder or are just taking their first steps. The combo that lets you take full advantage this loan’s best features is an LVR below 80% and a loan of at least $200,000.

Any catches?

If you’re only looking to borrow up to $199,999, you’ll have to keep in mind that there are a few extra charges in the form of a $275 legal fee and a $250 valuation fee. You can choose to waive these fees for an extra 0.10% but you’d have to be borrowing a very small amount for this offer to be worthwhile.

Details

Rates and fees information correct as at 13 November 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
  • 2.77% p.a.

  • n/a

  • n/a

  • Variable

  • 2.78% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • n/a

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $0.00

Other financial bits
  • $200,000

  • $3,500,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • yes - optional $10/month

  • none

  • 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 13 November 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
  • 2.77% p.a.

  • n/a

  • n/a

  • Variable

  • 2.90% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • n/a

  • $0.00

  • $0.00

  • n/a

  • $10.00 monthly

  • $0.00

Other financial bits
  • $200,000

  • $3,500,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • yes - optional $10/month

  • none

  • 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 13 November 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
  • 2.99% p.a.

  • n/a

  • n/a

  • Variable

  • 2.99% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • n/a

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $0.00

Other financial bits
  • $200,000

  • $1,000,000

  • 80.00%

  • 90.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • yes - optional $10/month

  • none

  • 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

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2.78% p.a.

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2.78% p.a.

$0

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3.23% p.a.

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2.77% p.a. variable

2.78% p.a.

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Suncorp

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3.03% p.a. variable

3.04% p.a.

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3.24% p.a. variable

3.28% p.a.

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2.84% p.a.

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2.77% p.a.

2.78% p.a.

$0

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3.25% p.a.

$835

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2.85% p.a.

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3.19% p.a.

$395

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2.99% p.a.
fixed 3 years

3.27% p.a.

$520

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2.89% p.a.
fixed 3 years

3.70% p.a.

$0

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2.98% p.a.
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$0

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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.