Reduce Home Loans Rate Slasher

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $249,999 with an LVR below 70%

The details shown below are for an owner occupier taking out a principal & interest loan between $250,000 and $1,000,000 with an LVR below 70%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 70%

    Loan: $50,000 $249,999

  • Owner Occupier (Principal & Interest)

    LVR < 70%

    Loan: $250,000 $1,000,000

3.44% p.a.

3.48% p.a.

$0.00

Reduce Home Loans Rate Slasher

3.44% p.a.

3.48% p.a.

$0.00

3.44% p.a.

3.44% p.a.

$0.00

Reduce Home Loans Rate Slasher

3.44% p.a.

3.44% p.a.

$0.00

Mozo Review   Reduce Home Loans Rate Slasher Review

Last updated: 6 March 2019.

What's hot:
  • 3.44% variable rate (3.48% comparison rate*)

  • No ongoing fees

  • Comes with offset account

What's not:
  • $250 valuation fee

Mozo snapshot:

The Reduce Home Loans Rate Slasher does as its name suggests, offering rock-bottom rates. In fact, its 3.44% variable rate (3.48% comparison rate*) puts it among some of the best value home loans in our database. And when it comes to features, the Rate Slasher ticks a number of boxes, so if you’re after a quality home loan with an offset account, redraw facility and more, you know where to look.

Key features:

The Reduce Home Loans Rate Slasher is sure to turn a few heads. Not only is it very feature-heavy, it comes with a 3.44% variable rate (3.48% comparison rate), which is one of the more impressive rates we’ve come across recently.

You can opt to make repayments weekly, fortnightly or monthly, and extra repayments can be made without incurring any fees. And if you’re worried about finding yourself short on cash in the future, there’s a redraw facility to give you peace of mind. It also comes with an offset account, which should help savvy borrowers save on interest.

Given all it has to offer, you’d think the Rate Slasher would be loaded with fees, but they’re actually quite minimal. All you’ll have to worry about are a few one-off charges, namely legal, valuation, and settlement fees.

It does bear mentioning that the maximum LVR for this one is 70%, so you’ll have to have 30% of what the property’s worth saved up for the deposit.

Who it's good for:

The Reduce Home Loans Rate Slasher will be a breath of fresh air for anyone who’s been scouring the market in search of a low-rate home loan that offers plenty of features to boot.

Any catches?

Buyers will have to be wary of the $220 legal fee, $250 valuation fee, and $150 settlement fee. But even with these added to the overall cost, the Rate Slasher still offers excellent value.

Details

Rates and fees information correct as at 23 April 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
  • 3.44% p.a.

  • n/a

  • 0 Months

  • none

  • 3.48% 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

  • $249,999

  • none

  • 70.00%

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 23 April 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
  • 3.44% p.a.

  • n/a

  • 0 Months

  • none

  • 3.44% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $0.00

  • $0.00

Other financial bits
  • $250,000

  • $1,000,000

  • none

  • 70.00%

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

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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.