Leading low-rate lender, Reduce Home Loans, is the winner of five awards for various home loans from comparison website RateCity.com.au.
Times have been tough for Australian households, as the impacts of Covid-19 are no-doubt still being felt by many mortgage holders. Because of this, Reduce Home Loans is proud to be in the top 10 per cent of home loan providers for the following categories in the 2021 RateCity Gold Awards.
Reduce Home Loans has long been committed to offering the most competitive home loan deals for Aussie customers, consistently breaking records for low home loan rates. These five wins are a strong reflection of the high quality loan products Reduce Home Loans offers to customers, while keeping costs and repayments relatively affordable.
Whether you’re considering refinancing your home loan in 2021, or are a current Reduce Home Loans customer curious if your mortgage is a winner, here are the awarded loan products.
Winning RateCity Gold Award categories:
It’s no secret homeowners are currently experiencing the lowest home loan rate environment on record. For owner-occupiers paying principal and interest, Reduce Home Loans offers a competitive 3-year fixed interest rate of 1.99 per cent (2.61 comparison rate), for borrowers looking to lock in a competitive rate under 2 per cent.
It’s not just owner-occupiers who’ve been offered a competitive 3-year fixed home loan (paying principal and interest) by Reduce Home Loans. Investors are able to consider applying for the RateCity Gold Award-winning Fixed Rate Wealth Maximizer home loan.
A winner in the Best Home Loan category, the Super Saver Variable home loan from Reduce Home Loans not only offers borrowers a rate under 2 per cent, but the added ability to save big over the life of their loan. Thanks to a full electronic redraw facility, and the ability to make extra repayments, home loan customers can grow their savings while chipping away at their mortgage balance.
Another win for investors, Reduce Home Loans’ Rate Slasher Variable has won in the Best Investor Home Loan category in the RateCity Gold Awards. With a variable rate of 2.39 per cent (2.44 comparison rate), the Rate Slasher Variable also offers a 100 per cent offset account to keep ongoing repayments cheap.
A frequent record-breaking home loan, Reduce Home Loans has been awarded a RateCity Gold Award for its Rate Cutter Home Loan. Variable rate owner-occupier refinancers can enjoy one of the lowest home loan rates on the market, currently sitting at 1.77 per cent (1.83 comparison rate).
Savings by switching to award-winning home loans
It’s not just the low fees and helpful features that make Reduce’s home loans frequent award-winners. By consistently offering lower-than-average home loan rates, customers are better able to keep their biggest ongoing expense low and aim to pay off their balance without going into mortgage stress.
Here’s how some of its home loan interest rates stack up against the market.
Owner-occupier fixed home loans
| Loan | Interest rate | Monthly repayments |
| Home Owners Dream 3-year Fixed Loan | 1.99% | $1,693 |
| RBA average outstanding owner-occupier fixed rate (less than or equal to 3 years) | 2.86% | $1,868 |
Owner-occupier variable home loans
| Loan | Interest rate | Monthly repayments
|
| Super Saver Variable Loan | 1.99% | $1,693 |
| Rate Cutter Home Loan | 1.77% | $1,651 |
| RBA average outstanding owner-occupier variable rate | 3.17% | $1,932 |
Investor fixed home loans
| Loan | Interest rate | Monthly repayments |
| Fixed Rate Wealth Maximiser | 2.37% | $1,768 |
| RBA average outstanding investor fixed rate (less than or equal to 3 years) | 3.24% | $1,947 |
Investor variable home loans
| Loan | Interest rate | Monthly repayments
|
| Rate Slasher Variable Investment Loan | 2.79% | $1,693 |
| RBA average outstanding investor variable rate | 3.53% | $2,009 |
Source – RBA Lending Rates November 2020.
Note – Repayments based on hypothetical $400,000, 25-year home loan. Figures do not factor in fees or ongoing costs. Data accurate as of 22/01/2021.