Reduce Home Loans Rate Lovers Variable Home Loan

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $749,999 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $750,000 and $1,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $749,999 with an LVR below 90%

The details shown below are for an owner occupier taking out a principal & interest loan between $750,000 and $1,000,000 with an LVR below 90%

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $749,999 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $750,000 and $1,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $749,999 with an LVR below 90%

The details shown below are for an owner occupier taking out a principal & interest loan between $750,000 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: $50,000 $749,999

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $750,000 $1,000,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

    Loan: $50,000 $749,999

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

    Loan: $750,000 $1,000,000

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $50,000 $749,999

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $750,000 $1,000,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

    Loan: $50,000 $749,999

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

    Loan: $750,000 $1,000,000

3.47% p.a.

3.51% p.a.

$0.00

Reduce Home Loans Rate Lovers Variable Home Loan

3.47% p.a.

3.51% p.a.

$0.00

3.72% p.a.

3.76% p.a.

$0.00

Reduce Home Loans Rate Lovers Variable Home Loan

3.72% p.a.

3.76% p.a.

$0.00

3.77% p.a.

3.81% p.a.

$0.00

Reduce Home Loans Rate Lovers Variable Home Loan

3.77% p.a.

3.81% p.a.

$0.00

4.02% p.a.

4.06% p.a.

$0.00

Reduce Home Loans Rate Lovers Variable Home Loan

4.02% p.a.

4.06% p.a.

$0.00

3.52% p.a.

3.56% p.a.

$0.00

Reduce Home Loans Rate Lovers Variable Home Loan

3.52% p.a.

3.56% p.a.

$0.00

3.77% p.a.

3.81% p.a.

$0.00

Reduce Home Loans Rate Lovers Variable Home Loan

3.77% p.a.

3.81% p.a.

$0.00

3.82% p.a.

3.86% p.a.

$0.00

Reduce Home Loans Rate Lovers Variable Home Loan

3.82% p.a.

3.86% p.a.

$0.00

4.07% p.a.

4.11% p.a.

$0.00

Reduce Home Loans Rate Lovers Variable Home Loan

4.07% p.a.

4.11% p.a.

$0.00

Mozo Review   Reduce Home Loans Rate Lovers Variable Home Loan Review

Last updated: 21 March 2019.

What's hot:
  • Triple winner in 2019 Mozo Experts Choice Awards

  • No ongoing monthly service fee

  • Unlimited free extra repayments

  • Competitive 3.47% p.a. variable interest rate (3.51% p.a. comparison rate*)

What's not:
  • $150 settlement fee

Mozo snapshot:

Eying off your dream home? Well, with Reduce Home Loans Rate Lovers Variable Home Loan’s super low variable rates for owner-occupiers starting at 3.47% p.a. (3.51% p.a. comparison rate*), unlimited free extra repayments and free redraw facility, the only thing missing are the house keys!

If you need to be swayed even more, the Rate Lovers Variable Home Loan also took out three 2019 Mozo Experts Choice Awards in the First Home Buyer Loan, Low Cost Home Loan and Split Home Loan categories.

Key features:

The Reduce Home Loans Rate Lovers Variable Home Loan offers a super competitive variable rate for owner-occupiers starting at 3.47% p.a. variable interest rate (3.51% p.a. comparison rate*), available for loans between $50,000 and $2,000,000, allowing you to borrow up to 80% of the property’s price. Loans are also available for investors and with an LVR up to 90% - just keep in mind, your loan to value ratio and the type of borrower you are will determine the rate you’ll be charged.

The Reduce Home Loans Rate Lovers Variable Home Loan has a lot of flexible features to bring to the table, such as an offset account, free extra repayments and the benefit of a free redraw facility, giving you the freedom to pay your loan off quickly and save on interest. Plus, you can choose between weekly, fortnightly and monthly repayment options. This loan also comes with the option of a split account.

Although there are no ongoing monthly service fees, watch out for other fees, such as a $150 settlement fee and estimated $275 legal fee and $250 valuation fee. If you agree to pay an extra 0.07% interest rate premium, these fees will be waived, just consider whether or not that will be a good deal for you in the long-run.

Who it's good for:

The Reduce Home Loans Rate Lovers Variable Home Loan is an excellent choice for just about any Aussie looking to buy a new home, especially those who have a 20% deposit saved up.

Any catches?

The Reduce Home Loans Rate Lovers Variable Home Loan does not offer a repayment holiday option, so if this is a feature that you’re after, there are plenty of other home loans that offer this.

Details

Rates and fees information correct as at 25 May 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
  • 3.47% p.a.

  • n/a

  • 0 Months

  • none

  • 3.51% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $275.00

  • $250.00

  • $150.00

  • none

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $749,999

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • no

  • 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 25 May 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
  • 3.72% p.a.

  • n/a

  • 0 Months

  • none

  • 3.76% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $275.00

  • $250.00

  • $150.00

  • none

  • $0.00

  • $0.00

Other financial bits
  • $750,000

  • $1,000,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • no

  • 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 25 May 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
  • 3.77% p.a.

  • n/a

  • 0 Months

  • none

  • 3.81% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $275.00

  • $250.00

  • $150.00

  • none

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $749,999

  • 80.00%

  • 90.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • no

  • 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 25 May 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
  • 4.02% p.a.

  • n/a

  • 0 Months

  • none

  • 4.06% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $275.00

  • $250.00

  • $150.00

  • none

  • $0.00

  • $0.00

Other financial bits
  • $750,000

  • $1,000,000

  • 80.00%

  • 90.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • no

  • 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 25 May 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
  • 3.52% p.a.

  • n/a

  • 0 Months

  • none

  • 3.56% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $275.00

  • $250.00

  • $150.00

  • none

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $749,999

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • yes

  • 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 25 May 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
  • 3.77% p.a.

  • n/a

  • 0 Months

  • none

  • 3.81% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $275.00

  • $250.00

  • $150.00

  • none

  • $0.00

  • $0.00

Other financial bits
  • $750,000

  • $1,000,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • yes

  • 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 25 May 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
  • 3.82% p.a.

  • n/a

  • 0 Months

  • none

  • 3.86% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $275.00

  • $250.00

  • $150.00

  • none

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $749,999

  • 80.00%

  • 90.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • yes

  • 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 25 May 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
  • 4.07% p.a.

  • n/a

  • 0 Months

  • none

  • 4.11% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $275.00

  • $250.00

  • $150.00

  • none

  • $0.00

  • $0.00

Other financial bits
  • $750,000

  • $1,000,000

  • 80.00%

  • 90.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • yes

  • 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

Reduce Home Loans

Reduce Home Loans

Fixed Rate

p.a.

n/a

$0.00

Promoted

Reduce Home Loans

Reduce Home Loans

Investor Rate Lovers Variable

3.74% p.a.

3.79% p.a.

$0.00

Promoted

Reduce Home Loans

Reduce Home Loans

Rate Slasher

3.44% p.a.

3.48% p.a.

$0.00

Promoted

Reduce Home Loans

Reduce Home Loans

Fixed Rate Wealth Maximizer

p.a.

n/a

$0.00

Promoted

loans.com.au

loans.com.au

Smart Home Loan

3.48% p.a. variable

3.50% p.a.

$520

Promoted

UBank

UBank

UHomeLoan - Discount Offer

3.59% p.a. variable

3.59% p.a.

$0

Promoted

Athena

Athena

Variable Home Loan

3.59% p.a. variable

3.55% p.a.

$0

Promoted

Virgin Money

Virgin Money

Reward Me Variable Rate Home Loan

3.69% p.a. variable

3.83% p.a.

$150

Promoted

Tic:Toc

Tic:Toc

Variable Home Loan

3.47% p.a. variable

3.48% p.a.

$0

Promoted

RACQ Bank

RACQ Bank

Mortgage Saver Special

3.69% p.a. variable

3.69% p.a.

$0

Promoted

Newcastle Permanent

Newcastle Permanent

Variable Home Loan (Premium Plus Package)

3.89% p.a. variable

4.29% p.a.

$0

Promoted

Homestar

Homestar

Star Essentials Home Loan

3.49% p.a. variable

3.49% p.a.

$0

Promoted

UBank

UBank

UHomeLoan - Discount Offer

3.59% p.a.

3.59% p.a.

$0

Promoted

loans.com.au

loans.com.au

Smart Home Loan

3.48% p.a.

3.50% p.a.

$520

Promoted

Athena

Athena

Variable Home Loan

3.59% p.a.

3.55% p.a.

$0

Promoted

Homestar

Homestar

Star Essentials Home Loan

3.49% p.a.

3.49% p.a.

$0

Promoted

RACQ Bank

RACQ Bank

Mortgage Saver Special

3.69% p.a.

3.69% p.a.

$0

Promoted

MOVE Bank

MOVE Bank

Straightforward Home Loan

3.59% p.a.

3.62% p.a.

$450

Promoted

Virgin Money

Virgin Money

Reward Me Variable Rate Home Loan

3.69% p.a.

3.83% p.a.

$150

Promoted

Mortgage House

Mortgage House

Red Home Loan - Early Bird Special

3.29% p.a.

3.36% p.a.

$940

Promoted

UBank

UBank

UHomeLoan (Fixed)

3.74% p.a.
fixed 3 years

4.01% p.a.

$395

Promoted

loans.com.au

loans.com.au

Fixed Home Loan

3.48% p.a.
fixed 3 years

3.85% p.a.

$520

Promoted

Virgin Money

Virgin Money

Reward Me Fixed Rate Home Loan - First Home Buyer Special

n/a

n/a

$0

Promoted

NAB

NAB

Tailored Home Loan (Fixed, Choice Package)

3.79% p.a.
fixed 3 years

4.89% p.a.

$0

Promoted

Macquarie

Macquarie

Basic Home Loan (Fixed)

3.59% p.a.
fixed 3 years

3.67% p.a.

$0

Promoted

Tic:Toc

Tic:Toc

Fixed Home Loan

n/a

n/a

$0

Promoted

QBANK

QBANK

Fixed Rate

3.62% p.a.
fixed 3 years

4.33% p.a.

$195

Promoted

Bankwest

Bankwest

Complete Fixed Home Loan (Package)

n/a

n/a

$250

Promoted

Mortgage House

Mortgage House

Red Home Loan - Early Bird Special

3.29% p.a.

3.36% p.a.

$0.00

Promoted

Reduce Home Loans

Reduce Home Loans

Rate Slasher

3.44% p.a.

3.44% p.a.

$0.00

*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.