Get the Finder app 🥳

Track your credit score

Free

Reduce Rate Slasher Variable Home Loan

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.

The Reduce Rate Slasher Variable mortgage is a very competitive variable rate loan with an optional offset account.

The Rate Slasher Variable Home Loan from Reduce Home Loans is a variable rate loan with principal-and-interest repayments. The loan has some of the most competitive variable rates on the market.

It is available for both investors and owner-occupiers, with options for borrowers with 10% deposits. You can choose to add a 100% offset account for a small monthly fee.

Interest Rate Max Insured LVR Max LVR
Cash Back
2.69% p.a.
Comparison Rate
2.73% p.a.
70% 70%
LVR up to 80% (Investor, P&I)
2.79% p.a.
Comparison Rate
2.86% p.a.
80% 80%
LVR up to 80% (Owner Occupier)
2.39% p.a.
Comparison Rate
2.44% p.a.
80% 80%
LVR up to 90% (Investor, P&I)
2.89% p.a.
Comparison Rate
2.96% p.a.
90% 80%
LVR up to 90% (Owner Occupier)
2.49% p.a.
Comparison Rate
2.51% p.a.
90% 80%
Product NameReduce Rate Slasher Variable Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$50,000
Maximum Loan Amount$3,500,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR90%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Extra RepaymentYes
Repayment TypePrincipal & Interest
Application Fee$0
Lender's Legal FeeAt cost. disbursements payable
Valuation FeeAt cost
Ongoing Fees$0 p.a.
Settlement Fee$0
Discharge Fee$500

Pros

  • Competitive rates
  • Optional offset account
  • Flexible redraw facility

Cons

  • Offset comes with a small fee

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

  • Purpose. This product is available for both home buyers (owner-occupiers) and investors.
  • Deposit size. You can borrow up to 90% of your property's value.
  • Offset account. The loan has a 100% offset account but it's entirely optional, and there's a $10 monthly fee if you choose to use this feature.
  • Helpful features. The loan has a redraw facility with no minimum redraw amount. You can also split the loan into fixed and variable portions.

What fees and charges come with this loan?

The Reduce Rate Slasher Variable Home Loan keeps fees fairly low, although there is an application fee and a few other fees to watch out for.

  • Application fee: $0. You pay this fee when applying for the loan.
  • Legal fee: At cost. disbursements payable. This fee covers the legal costs with processing the loan.
  • Valuation fee: At cost. Third-party valuation fees are not charged by the lender but will apply at cost.
  • Offset fee (optional): $10. This is a monthly fee that only applies if you add an offset account to the loan.

How do I apply for this loan?

To apply for this product or to get more information, click the green button and follow the application process to speak to a Reduce Home Loans mortgage specialist. They'll talk you through eligibility requirements and assist you with the application.

Related Posts

Ask an Expert

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.

Reduce Rate Slasher Variable Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR

    80%

Go to site