Rating based on 34 reviews

Reduce Loans

  • Home loans up to $150,000
  • Low-interest starting from 2.19%
  • Repayment up to 25 years

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Author Reduce. Screenshot of Reduce website.
[Accessed May 3, 2023]

Reduce Loans - A passion for finance

They are an Australian-owned and operated multi-award-winning loan provider. They are passionate about assisting their customers and they have been since 2010. Not only do they find you the lowest interest rate but also home loans with all the bells and whistles.

They have been awarded the following for their loan range

  • In 2015, 16, 17 and 2018, they were awarded 5 stars from Canstar.
  • 2016, 17 and 2018 brought them Best Cheapest Home Loan Ward by Money Magazine
  • They were awarded Best Investment and Best Owner Occupied Loans by Finer.com.au in 2017
  • And they won Experts Choice awards in 2018 and 2018 by mozo.com.au

Revolutionising the Australian lending industry

Their customers have been very happy because they have saved them time and money by switching to Reduce Home Loans. Their online loan application process has been simplified, so applying for a home loan has just become easier and faster than ever before.

A stress-free home loan application

Applying for a home loan can be very stressful and overwhelming and they understand that that is why Reduce Homes will assign you your own personal finance manager that will be available throughout the process to guide and assist you.

You won’t find anybody that will fight as hard for the lowest rates as Reduce has to offer, they offer absolute commitment, and this shows in their jaw-dropping sure of solutions their rates are incredibly low and they provide loans for investment, construction or residential property, as well as debt consolidation loans. Whether you fit the Banks prescriptive profile or not, they will remain committed to assisting you to achieve your goals

Choose your repayment term

You are able to choose the frequency of repayments by monthly, weekly or every Fortnight. They accept direct debit repayments that are drawn from a nominated account. Your salary or wages can be credited to your account and any additional repayments are allowed and can be deposited at any time without paying a penalty. They also have deposit books available.

Reduce – Home loan

  • Loan Type Home loans
  • Interest Rate 2.193.19% p/a
  • Loan Amount up to $150,000
  • Repayment 5 years to 25 years

Benefits of Reduce

  • Compare home loans and features online
  • Get the best loan rates
  • Reduced fee home loans

Reduce Loans - Their loans have many benefits

Their home loan basic repayment calculator helps you to estimate your repayments that are based on the home loan amount, interest rate entered and the term, their calculator will also assist you in deciding how much you are able to afford, you can also give your personal manager a call who can assist and guide you.

In a nutshell

  • Self-Employed - Reduce Loans have a range of products that are designed for the self-employed although this is subject to their lending criteria.
  • Additional fees - Expenditures differ depending on the mortgage you choose. In addition to your application, settlement fees and valuation you will need to make provision for other fees such as solicitor and stamp duties. You are able to use the stamp duty calculator provided by Reduce in order to find out the cost of stamp duty fees payable in your State or Territory.
  • Approval Period – Your Home Loan Manager will be able to provide you with conditional approval within 48 hours. The quicker you provide the required documentation to support your application the quicker your approval will be. Be advised that the common causes that delay your approval are generally the simplest like – missed signature and unclear identification etc.
  • Pre-Approval – Their pre-approval is only valid for 3 months from the date of issue.
  • Stamp duty – Please be advised that stamp duty on your new property will depend on a number of factors that included if you are a first-time home buyer, which state you purchase in and if you are going to live on the property or if you will be renting it out.
  • Repayments – This will depend on the amount of the loan if you are paying principal and interest of interest only. They offer their customers the opportunity to make additional repayments, but the terms and conditions could vary depending on the loan you choose, you are however able to speak to your Personal finance manager regarding full details.
  • Equity – You may use the equity in your present property to assist you in purchasing an investment property, even if you do have a mortgage on the property. In all probability, you will have enough equity to purchase an investment property.
  • Lender’s Mortgage Insurance – This insurance protects the lender and not the borrower. The lender’s Mortgage Insurance is a once-off fee that would typically apply for a loan where the customer borrows more than 80 % of the purchase price. Depending on the amount you borrow normally between 80 and 95 % and let’s say the loan amount is $450 000 LMI can start from $6 000 and range up to 5 % of the loan price.
  • Redraw Facility – They offer a redraw facility that acts as an emergency loan but notes that fees may apply depending on your individual product.

Customer Reviews & Testimonials

Good service with fair fees and a decent interest rate.

Monica B
— Brisbane —

Reduce Loans has been a huge help in our journey to buy a home and we cannot thank you enough for the continued support.

Alex C
— Hobart —

Very good interest rate offered along with flexible repayment terms on our home loan.

David C
— Gold Coast —

Owning a home has been on my financial bucket list for as long as I can recall, now thanks to Reduce Loans I am able to make that a reality.

Shayla S
— Newcastle —

Reduce Contact

Physical Address

Postal Address

  • PO Box 6990 GCMC 9726, Australia

Opening Hours

  • Monday 09:00 – 21:00
  • Tuesday 09:00 – 21:00
  • Wednesday 09:00 – 21:00
  • Thursday 09:00 – 21:00
  • Friday 09:00 – 21:00
  • Saturday – Closed
  • Sunday – Closed