Since the RBA cut interest rates to a record low 0.75% this afternoon, Reduce Loans have slashed their variable home loan rate by 0.2% making it a very attractive 2.79% Comparison Rate.
Loan: RATE LOVERS
Max LVR: 90% - add 0.22% LMI or 80%.
Min Loan: $50,000
Max Loan: $850,000: 70.01% - 80% LVR. $1,500,000: <70% LVR.
Offset account: Optional offset account for $10 month.
No Upfront or Ongoing Fees: The loan has no application fees, annual, monthly fees or settlement fees.
Third Party Valuation Fee: No fee up to $250 (Loan amounts under $200,000 incur a valuation fee at cost, estimate $250)
Third Party Legal Fees: No fee up to $297 (Loans amounts under $200,000 incur legal fees at cost, estimate $297)
Discharge Fee: $895
Would like to know if anyone amongst the community have had any experience with these guys.