Reduce Rate Buster High Lend Home Loan

The Reduce Rate Buster High Lend Home Loan has a competitive interest rate and lets you borrow up to 90%. You can also add a 100% offset account for a small fee.

If you're looking to buy a home to live in and want a flexible, competitive variable rate mortgage then check out the Rate Buster High Lend from Reduce Home Loans. With this loan you can borrow up to of the property's price. But if you have a 20% deposit you can get a lower rate and avoid any lenders mortgage insurance charge.

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Review by


Richard Whitten is a senior writer at Finder, and has been covering home loans and the property market in Australia for the last 4 years. He has written for Yahoo Finance, Money Magazine and Homely, as well as multiple banks and lenders. Richard has a Certificate IV in Finance and Mortgage Broking, a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communication. He enjoys helping people understand the ins and outs of mortgages so they can make smarter property decisions. Richard trained as a high school teacher but found it easier to manage personal finances than a classroom full of kids. Before joining Finder, he edited textbooks and taught English in South Korea.

Expert review

This loan has principal and interest repayments and allows for unlimited extra repayments, plus a redraw facility so you can spend any extra repayments you've made if needed.

The Rate Buster High Lend also has an optional offset account (a very useful feature) but you will need to pay a $10 monthly fee to open one.

About this loan

What are the features and benefits of the Reduce Rate Buster High Lend Home Loan?

  • Loan amount. This loan lets you borrow up to $3,500,000. You can borrow much more than this but your loan-to-value ratio will drop, meaning you will need a 30-40% deposit if borrowing millions.
  • Loan purpose. This loan is an owner-occupier mortgage, so it's just for home buyers.
  • Extra repayments. Extra repayments are allowed without penalty.
  • Redraw. If you make extra repayments on this loan you're able to redraw them to spend when needed. There is no minimum redraw amount.
  • Split facility. This loan has a split facility, allowing you to split the mortgage into fixed and variable portions.

What fees and charges come with this loan?

The Reduce Rate Buster High Lend Home Loan doesn't have any fees from the lender itself. You may have to pay third party valuation and legal fees but Reduce will cover these up to a certain limit:

  • Legal fee: . This covers the lender's legal costs when settling the loan.
  • Valuation fee: . This covers the cost of having your property valued.
  • Offset account fee (optional): $10 a month. You only have to pay this if you open an offset account.

If your loan amount is under $200,000 you will have to pay valuation and legal fees estimated at around $250 and $297 respectively.


How to apply

To apply for this mortgage or to get more information, click the green button and leave your details with Reduce Home Loans. A Reduce Home Loans mortgage specialist will get in touch and you can start your application.

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