Reduce Home Loans Home Loans

Reduce Home Loans is 100 per cent dedicated to home loans, offering no other financial services. It’s also primarily online, and this simple business model helps Reduce Home Loans keep running costs down and deliver low interest rates.

This Australian owned and operated lender only opened in 2010, so it’s a relative newcomer. However, Reduce Home Loans has won many business awards since, including Money Magazine’s cheapest non-bank home loan in 2016, 2017 and 2018.

Reduce Home Loans home loans

Rate Lovers 100% Offset Variable Home Loan (Amounts < $750k, LVR < 80%)
Advertised rate
3.44%
Variable
Upfront fee
$1060.00
Comparison rate*
3.44%
Ongoing fee
$0
Compare
Rate Buster High Lend 100% Offset Variable Home Loan (Amounts < $750k, LVR < 80%)
Advertised rate
3.49%
Variable
Upfront fee
$620.00
Comparison rate*
3.49%
Ongoing fee
$0
Compare
Home Owners Dream Fixed 1 Year (LVR < 80%)
Advertised rate
3.59%
Fixed - 1 year
Upfront fee
$470.00
Comparison rate*
3.62%
Ongoing fee
$0
Compare
Rate Buster Escape (LVR < 80%)Cashback$1000 Cash Back for loans $750,000 and above
Advertised rate
3.59%
Variable
Upfront fee
$470.00
Comparison rate*
3.63%
Ongoing fee
$0
Compare
Home Owners Dream Fixed 2 Years (LVR < 80%)
Advertised rate
3.69%
Fixed - 2 years
Upfront fee
$470.00
Comparison rate*
3.63%
Ongoing fee
$0
Compare
Home Owners Dream Fixed 3 Years (LVR < 80%)
Advertised rate
3.79%
Fixed - 3 years
Upfront fee
$470.00
Comparison rate*
3.66%
Ongoing fee
$0
Compare
Rate Lovers 100% Offset Variable Home Loan (Amounts < $750k, LVR 80%-90%)
Advertised rate
3.69%
Variable
Upfront fee
$1060.00
Comparison rate*
3.69%
Ongoing fee
$0
Compare
Rate Buster High Lend 100% Offset Variable Home Loan (Amounts < $750k, LVR 80%-90%)
Advertised rate
3.74%
Variable
Upfront fee
$620.00
Comparison rate*
3.74%
Ongoing fee
$0
Compare
Home Owners Dream Fixed 1 Year (LVR 80%-90%)
Advertised rate
3.84%
Fixed - 1 year
Upfront fee
$470.00
Comparison rate*
3.87%
Ongoing fee
$0
Compare
Rate Buster Escape (LVR 80%-90%)Cashback$1000 Cash Back for loans $750,000 and above
Advertised rate
3.84%
Variable
Upfront fee
$470.00
Comparison rate*
3.88%
Ongoing fee
$0
Compare
Home Owners Dream Fixed 2 Years (LVR 80%-90%)
Advertised rate
3.94%
Fixed - 2 years
Upfront fee
$470.00
Comparison rate*
3.88%
Ongoing fee
$0
Compare
Rate Buster High Lend 100% Offset Variable Investment Loan (Principal and Interest)CashbackReceive $750 cash back on loans between $250,000 and $749,999 and $1500 cash back on loans over $750,000
Advertised rate
3.89%
Variable
Upfront fee
$470.00
Comparison rate*
3.89%
Ongoing fee
$0
Compare
Home Owners Dream Fixed 3 Years (LVR 80%-90%)
Advertised rate
4.04%
Fixed - 3 years
Upfront fee
$470.00
Comparison rate*
3.91%
Ongoing fee
$0
Compare
Wealth Maximizer Fixed (Principal and Interest) 1 Year
Advertised rate
3.89%
Fixed - 1 year
Upfront fee
$470.00
Comparison rate*
3.92%
Ongoing fee
$0
Compare
Wealth Maximizer Fixed (Principal and Interest) 2 Years
Advertised rate
3.99%
Fixed - 2 years
Upfront fee
$470.00
Comparison rate*
3.93%
Ongoing fee
$0
Compare
Wealth Maximizer Fixed (Principal and Interest) 3 Years
Advertised rate
4.09%
Fixed - 3 years
Upfront fee
$470.00
Comparison rate*
3.96%
Ongoing fee
$0
Compare
Cash Back Rate Buster High Lend 100% Offset Variable Investment Loan (Principal & Interest) (LVR < 80%)CashbackReceive $750 cash back on loans between $250,000 and $749,999 and $1500 cash back on loans over $750,000
Advertised rate
3.99%
Variable
Upfront fee
$470.00
Comparison rate*
3.99%
Ongoing fee
$0
Compare
Investor Rate Buster 100% Offset Variable (Principal and Interest) (Amounts < $750k, LVR < 80%)
Advertised rate
4.14%
Variable
Upfront fee
$620.00
Comparison rate*
4.14%
Ongoing fee
$0
Compare
Pros:
  • Low interest rates.
  • Flexible loan options.
  • Loans are suitable to borrowers with smaller deposits.
  • Some loans have low fees.
Cons:
  • No branch access.
  • Loans have application fees.
Reduce Home Loans customer service:

As Reduce Home Loans is an online-only lender, customers won’t have access to bricks and mortar branches. Customers can contact Reduce Home Loans by calling the customer contact centre, emailing the bank directly or by filling out an online enquiry form. Home loan applicants will be assigned a personal finance manager who will guide them through the process all the way to settlement. Customers are also able to chat with a support representative through the Reduce Home Loans website.

  • Customer service (phone, email)
  • Live Chat
  • Mobile banking staff

How to Apply

Borrowers wanting to apply for a Reduce Home Loan can either complete a loan enquiry form online or call customer support for assistance with the application. Before applying for a Reduce Home Loans home loan, think about what you can afford to borrow and what other costs you need to consider. To apply for a Reduce home loan, you will need to supply the following information:

  • Personal identification material.
  • Proof of income and employment.
  • Information regarding your current debts, liabilities and assets.
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