The purpose of this paper is twofold: On the one hand, after a thorough review of the matter free case, we supplement the derivations in our companion paper on 'loop quantum gravity without the Hamiltonian constraint' with calculational details and extend the results to standard model matter, a cosmological constant, and non-compact spatial slices. On the other hand, we provide a discussion on the role of observables, focussed on the situation of a symmetry exchange, which is key to our derivation. Furthermore, we comment on the relation of our model to reduced phase space quantisations based on deparametrisation.