Your next home
Owner Occupied variable rates from
5.89%p.a. Variable
5.91%p.a. Comparison*
Borrow up to 80% LVR*
- $0 monthly or annual fees!
- Borrow up to $3,500,000
- No ongoing fees!
5.89%p.a. Variable
5.91%p.a. Comparison*
So you’ve already got a property to your name and you’re seeking a loan for your next home. You’re in luck! We’ve got the perfect home loan solution for your next property purchase.
Whether your next home is a downsize, upsize, or you’re moving across Australia, we’ve got great rate home loans for you. We certainly walk the talk, with our loans awarded 5 Stars by Canstar, and Money magazine’s Best of the Best 6 years running.
Want an offset account? How about Loan splits between fixed and variable rates? Our Finance Managers will be happy to help and are fully qualified to give home loan advice. Drop us a line at 1300 REDUCE (733 823).
If you are seeking your next home, we’ve got the best home loan, with great interest rates, for you.
Whether you are upsizing, downsizing or moving cross country, or even looking for a second home Reduce Loans has an amazing deal for you.
Your first decision is which home loan to choose. How do you know which one is right for you?
We are here to guide you through the mortgage maze. Before you take the first step towards owning your next home, here are some of the common terms you should recognise and understand:
Your lender will want to understand the purpose of the loan:
You intend to live in the home. Generally seen by the lender as lower risk. Owner occupiers tend to ensure they can repay the mortgage on their home, plus they make sure the dwelling is well-maintained.
Property investors can be put into the higher risk category, particularly if they plan to rent the property and use the rental income to repay all or some of the loan. Periods when the property is vacant may cause them financial difficulties.
Our hot Rate Slasher Variable is now available for up to 90% LVR, with $0 upfront fees!
With flexible repayment options and optional 100% offset account, you can customise your loan to how you want.
Repayments for a Principal and Interest loan include a reduction in the capital value. When the term of the loan is complete, the property will be paid for.
An interest-only loan means lower repayments but depends on the property maintaining, or increasing, in value to pay off the outstanding loan capital.
An offset account is separate from your mortgage account. Your wages are paid into the offset account and, when regular bills have been paid, the remaining balance is offset against your outstanding mortgage.
You will only pay interest on the revised balance, so using your offset account wisely can mean you repay less interest throughout the term of your home loan.
At Reduce Loans, our variable rate alt-doc home loans permit you to make additional payments. This has the dual benefits of reducing the outstanding balance, so you will pay less interest, plus the balance of all your additional repayments is available to you, via the ‘redraw’ facility, below.
You can make additional payments at any time but there could be restrictions on the total additional payments within each year.
A redraw facility against your mortgage account records the value of additional payments you have made. You are able to access and withdraw these funds.
You will find this convenient if you need money for emergencies such as medical bills, home repairs or any other unexpected expenses.
You should be able to redraw up to the value of all Additional payments you have made. Note that redraw facilities are likely to restrict the maximum amount you can redraw each time.
All mortgage lenders apply a loan-to-value ratio (LVR) against their accounts. The LVR determines the percentage of the purchase price of the property to be financed by your lender and the value of the deposit you will need to provide.
LVRs determine the type of loan as well as interest rates and the value of the deposit required.
You may be able to arrange a higher loan-to-value ratio for your mortgage. You should expect a higher interest rate if you have a high LVR. A low LVR may mean you will be required to provide a higher deposit for the loan but you can borrow more.
Settlement fees, sometimes called early-exit fees, are applied if you pay off the entire outstanding loan before the end of the agreed term. They compensate your lender for losses due to early termination of the loan.
Having a preapproved mortgage is essential if you intend to enter a bid for a property via an auction, giving you the confidence the funds are available to cover your bid.
At Reduce Loans, we are proud to provide competitive home loan rates while delivering a first-class service to you. We work online for convenience and cost-effectiveness and our range of home loans has won multiple awards.
Find out more:
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(29) For the Rate Cutter Variable where the borrower pays $1170 upfront fees then a corresponding loyalty discount of 0.10% p.a. off the Rate Cutter Variable (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(27) For the Investor Rate Slasher Cash Back Variable where the borrower pays $0 upfront fees then a corresponding loyalty discount of 0.06% p.a. off the Investor Rate Slasher Cash Back Variable (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(26) For the Low Rider Cash Back Variable where the borrower pays $0 upfront fees then a corresponding loyalty discount of 0.06% p.a. off the Low Rider Cash Back Variable (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(25) For the Economizer Cash Back Variable where the borrower pays an upfront fee of $697 then a corresponding loyalty discount of 0.08% p.a. off the Economizer Cash Back Variable (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(24) For the Super Saver Cash Back Variable where the borrower pays an upfront fee of $697 then a corresponding loyalty discount of 0.10% p.a. off the Super Saver Cash Back Variable (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(23) For the Super Saver Variable where the borrower pays an upfront fee of $1170 then a corresponding loyalty discount of 0.15% p.a. off the Super Saver Variable (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(22) For the Economizer Variable where the borrower pays an upfront fee of $1,170 then a corresponding loyalty discount of 0.11% p.a. off the Economizer Variable (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(21) For the Investor Cash Back Hero Variable where the borrower pays an upfront fee of $697 then a corresponding loyalty discount of 0.08% p.a. off the Cash Back Hero Variable (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(18) For the Home Owners Dream 1 year fixed where the borrower pays an upfront fee of $697 then a corresponding loyalty discount of 0.20% p.a. off the Home Owners Dream reverted variable rate (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(20) For the Cash Back Hero Variable where the borrower pays an upfront fee of $697 then a corresponding loyalty discount of 0.08% p.a. off the Cash Back Hero Variable (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(14) For the Investor Rate Slasher where the borrower pays an upfront fee of $1,170 then a corresponding loyalty discount of 0.09% p.a. off the Investor Rate Slasher rate (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(12) For the Investor Rate Lovers Interest Only where the borrower pays an upfront fee of $697 then a corresponding loyalty discount of 0.07% p.a. off the Investor Rate Lovers Interest Only rate (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(11) For the Wealth Maximizer 3 year fixed Principal & Interest where the borrower pays an upfront fee of $697 then a corresponding loyalty discount of 0.20% p.a. off the Wealth Maximizer reverted variable rate (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(10) For the Wealth Maximizer 2 year fixed where the borrower pays an upfront fee of $697 then a corresponding loyalty discount of 0.20% p.a. off the Wealth Maximizer reverted variable rate (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(9) For the Home Owners Dream 3 year fixed where the borrower pays an upfront fee of $697 then a corresponding loyalty discount of 0.20% p.a. off the Home Owners Dream reverted variable rate (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(8) For the Home Owners Dream 2 year fixed where the borrower pays an upfront fee of $697 then a corresponding loyalty discount of 0.20% p.a. off the Home Owners Dream reverted variable rate (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(7) For the Investor Rate Slasher where the borrower pays an upfront fee of $1,170 then a corresponding loyalty discount of 0.09% p.a. off the Investor Rate Slasher rate (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(6) For the Investor Rate Buster Variable where the borrower pays an upfront fee of $697 then a corresponding loyalty discount of 0.08% p.a. off the Investor Rate Buster Variable rate (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(5) For the Rate Buster Variable where the borrower pays an upfront fee of $150 then a corresponding loyalty discount of 0.05% p.a. off the Rate Buster Variable rate (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(4)For the Rate Slasher Variable where the borrower pays an upfront fee of $1,170 then a corresponding loyalty discount of 0.08% p.a. off the Rate Slasher Variable rate (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(3) For the Investor Rate Lovers Variable where the borrower pays $0 upfront fees then a corresponding loyalty discount of 0.06% p.a. off the Investor Rate Lovers Variable rate (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(2)For the Rate Lovers Variable where the borrower pays $0 upfront fees then a corresponding loyalty discount of 0.06% p.a. off the Rate Lovers Variable rate (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(1) For the Low Rider Variable where the borrower pays $0 upfront fees then a corresponding loyalty discount of 0.06% p.a. off the Low Rider Variable rate (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(28) For the Rate Crusher 1 Year Fixed where the borrower pays an upfront fee of $697 then a corresponding loyalty discount of 0.05% p.a. off the Rate Crusher reverted variable rate (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.
(19) For the 1 Year Fixed Wealth Maximizer where the borrower pays an upfront fee of $697 then a corresponding loyalty discount of 0.20% p.a. off the 1 Year Fixed Wealth Maximizer reverted variable rate (at that time) will automatically apply after the 5th anniversary of the loan. These fees and loyalty discount are factored into the comparison rate. The loan setup fees are not refundable.