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 $2,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $200,000 and $2,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $200,000 and $2,000,000 with an LVR below 90%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $200,000 $2,000,000

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $200,000 $2,000,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

    Loan: $200,000 $2,000,000

2.97% p.a.

2.97% p.a.

$0.00

Reduce Home Loans Rate Buster High Lend Variable

2.97% p.a.

2.97% p.a.

$0.00

2.97% p.a.

3.10% p.a.

$10.00 monthly

Reduce Home Loans Rate Buster High Lend Variable

2.97% p.a.

3.10% p.a.

$10.00 monthly

3.07% p.a.

3.07% p.a.

$0.00

Reduce Home Loans Rate Buster High Lend Variable

3.07% p.a.

3.07% p.a.

$0.00

Mozo Review   Reduce Home Loans Rate Buster High Lend Variable Review

Last updated: 14 August 2019.

What's hot:
  • Variable rates from 2.97% p.a. (2.97% 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 2.97% p.a. (2.97% p.a. comparison rate*). Plus, after 5 years, you can score a loyalty bonus that brings your rate down to just 2.93% (2.97% 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 15 September 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
  • 2.97% p.a.

  • n/a

  • n/a

  • Variable

  • 2.97% 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

  • $2,000,000

  • 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 15 September 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
  • 2.97% p.a.

  • n/a

  • n/a

  • Variable

  • 3.10% 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

  • $2,000,000

  • 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 15 September 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
  • 3.07% p.a.

  • n/a

  • n/a

  • Variable

  • 3.07% 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

  • $2,000,000

  • 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

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)

3.34% p.a. variable

3.78% p.a.

$200

Promoted

ANZ

ANZ

Simplicity PLUS

3.38% p.a. variable

3.42% p.a.

$0

Promoted

Newcastle Permanent

Newcastle Permanent

Real Deal Home Loan

3.32% p.a. variable

3.36% p.a.

$0

Promoted

Bank of Queensland

Bank of Queensland

Fixed Rate

2.99% p.a.
fixed 3 years

3.79% p.a.

$450

Promoted

Homestar

Homestar

Star Essentials Home Loan

2.99% p.a. variable

3.02% p.a.

$596

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

Athena

Athena

Variable Home Loan

3.09% p.a.

3.05% p.a.

$0

Promoted

ANZ

ANZ

Simplicity PLUS

3.38% p.a.

3.42% p.a.

$0

Promoted

ME

ME

Flexible Home Loan (Member Package)

3.34% p.a.

3.78% p.a.

$200

Promoted

Homestar

Homestar

Star Essentials Home Loan

2.99% p.a.

3.02% p.a.

$596

Promoted

HSBC

HSBC

Home Value Loan

3.27% p.a.

3.28% p.a.

$150

Promoted

Suncorp

Suncorp

Back to Basics

3.29% p.a.

3.30% p.a.

$0

Promoted

UBank

UBank

UHomeLoan (Fixed)

2.99% p.a.
fixed 3 years

3.45% p.a.

$395

Promoted

IMB Bank

IMB Bank

Fixed Home Loan

2.99% p.a.
fixed 3 years

3.51% p.a.

$799

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

UBank

UBank

UHomeLoan (1 Year Fixed)

n/a

n/a

$395

Promoted

Mortgage House

Mortgage House

Fix and Save

n/a

n/a

$840

Promoted

loans.com.au

loans.com.au

Smart Loan Fixed (Package)

3.19% p.a.
fixed 3 years

3.63% p.a.

$520

Promoted

IMB Bank

IMB Bank

Fixed Home Loan

2.99% p.a.
fixed 3 years

3.51% p.a.

$799

*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.