Get the Finder app 🥳

Track your credit score

Free

Reduce Rate Lovers Special Variable Home Loan

Last updated:  

A low-rate variable home loan that doesn't skimp on features.

The Reduce Rate Lovers Special Variable Home Loan features a low variable rate usually associated with no-frills home loans. But this owner-occupier home loan comes with features often only found in products with higher interest rates.

We’re committed to our readers and editorial independence. We don’t compare all products in the market and may receive compensation when we refer you to our partners, but this does not influence our opinions or reviews. Learn more about Finder.

Expert review

Adam Smith

Review by


Adam Smith was the home loans editor at Finder.

Expert review

The Reduce Rate Lovers Special Variable Home Loan is available to owner-occupiers and is suited to individuals, companies and trusts.

About this loan

What are the features and benefits of the Reduce Rate Lovers Special Variable Home Loan?

  • Loan amount and purpose. The Reduce Rate Lovers Special Variable Home Loan is only available to owner-occupiers. It has a minimum loan amount of $50,000.
  • Loan-to-value ratio. The Reduce Rate Lovers Special Variable Home Loan has a maximum loan-to-value ratio (LVR) of 80%, so you'll need to have at least a 20% deposit.
  • Flexible repayments. You can elect to make your repayments weekly, monthly or fortnightly, and you can make as many additional repayments as you like without penalty.
  • Free redraw facility. If you need to access the additional funds that you've paid towards your home loan, you can do so using the loan's redraw account. There is no minimum amount for redraws made via Internet banking.

What fees and charges come with this loan?

  • Application fee: $0. This one-off fee covers the cost of processing your home loan application.
  • Settlement fee: $150. This fee covers the administrative costs of processing the funding for your home loan.
  • Legal fee: At cost disbursements payable plus disbursements. This fee covers the legal costs associated with settling your home loan.

How to apply

If you're interested in the Reduce Rate Lovers Special Variable Home Loan you can click the link below. You'll be asked to fill in a few details and you'll be contacted by a Reduce Home Loans team member who will help walk you through the application process.

Home Loan Offers

Important Information*
Logo for Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)
Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)

Up to $3,000 refinance cashback. A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.

Logo for St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)
St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)

Up to $4,000 refinance cashback. A competitive variable rate loan from St.George. Refinancers borrowing $250,000 or more can get $4,000 cashback (Other terms, conditions and exclusions apply).

Logo for Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I
Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I

A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan.

Logo for UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate
UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate

Take advantage of a low-fee mortgage with a special interest rate of just 2.49% p.a. and a 2.49% p.a. comparison rate.

Ask an expert

To ask a question simply log in via your email or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

2 Comments

  1. Default Gravatar
    VickiM
    November 15, 2018

    do you do loans for larger rural residential properties. eg 240 acres? thanks

    • Avatarfinder Customer Care
      John
      November 15, 2018

      Hi VickiM,

      Thank you for reaching out to finder.

      If you are checking if Reduce rate Lovers provides loans for larger residential areas, you may need to contact them directly for it. Alternatively, if you are looking into checking out vacant land home loans, you may click on this link. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Enquire now” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have. Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. Hope this helps!

      Cheers,
      Reggie

Go to site