Backed by the well-known Bendigo and Adelaide Banks, fintech lender Tic:Toc offers innovative home loan solutions for owner occupiers as well as property investors - including the 22 minute online home loan application.
Tic:Toc was recognised for its great value home loan products in 2019 when it took out the major title of Mozo Online Home Lender of the Year. They were also recognised by the Mozo Expert Choice Award Judges in a number of other categories including for best Fixed Rate Home Loan, Investor Home Loan, Low Cost Home Loan and Offset Home Loan.
Rates and fees verified as correct at 16 July, 2019. Other information correct at the time of writing.
Looking for a mortgage that will give you the security of fixed loan repayments, while at the same time offer a competitive rate and flexible account features? Then a Tic:Toc fixed rate home loan is well worth considering, because you can make additional repayments (up to a set amount during the fixed rate period), dip into them via a redraw facility, opt for an optional offset account as well as choose your repayments schedule. Plug your numbers into the calculator below for a picture of what your monthly repayments could potentially look like:
| Product | Fixed 3 year rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ | |
|---|---|---|---|---|---|---|
|
3.99% p.a. |
3.68% p.a. |
$0.00 |
$0 |
|||
|
3.89% p.a. |
3.65% p.a. |
$0.00 |
$0 |
Go to site |
||
|
4.82% p.a. |
3.78% p.a. |
$0.00 |
$0 |
|||
|
p.a. |
n/a |
$0.00 |
$0 |
Go to site |
||
|
3.84% p.a. |
3.35% p.a. |
$0.00 |
$0 |
If flexibility is a must for you when it comes to choosing a home loan, Tic:Toc’s variable rate mortgage won’t disappoint. Not only does the online-only provider offer competitively low interest rates compared to the major banks, borrowers can enjoy $0 application fees, no monthly fees unless they opt for an offset account, and a free redraw facility to access funds when they’re ahead on mortgage repayments. Need we say more? Run your numbers through Mozo’s calculator for a hypothetical on what you’d be paying every month for a variable rate mortgage with Tic:Toc:
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ | |
|---|---|---|---|---|---|---|
|
3.69% p.a. |
3.70% p.a. |
$0.00 |
$0 |
|||
|
3.56% p.a. |
3.57% p.a. |
$0.00 |
$0 |
Go to site |
||
|
4.92% p.a. |
4.93% p.a. |
$0.00 |
$0 |
|||
|
3.07% p.a. |
3.08% p.a. |
$0.00 |
$0 |
Go to site |
‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.
Yes, but while the fintech provider may not have physical branches that you can walk into like a typical bank, if you need help with your application or have questions you can still reach out via its live chat service or by giving Tic:Toc a ring.
Absolutely. Your data is in safe hands with Tic:Toc, as it has a secure data partnership with Envestnet Yodlee, a global leader in digital financial solutions technology that some of the biggest banks in the US are using too and bank grade security and encryption on its website.
You’ll need to have a 20% deposit saved up or more to be eligible for a Tic:Toc home loan. So if you’re looking for home loan with more flexible deposit requirements, simply shop around at Mozo’s home loan hub.
At the time of writing, Tic:Toc will only approve loan applications for home buying in capital cities and major regional centres.
| Low ratesLow rates | Nabbing a mortgage with a low interest rate is important, so if it’s at the top of the list for you you’ll appreciate the competitive fixed and variable rates Tic:Toc offers. |
| $0 application fees$0 application fees | One of the benefits of opting for an online-only provider such as Tic:Toc, is that you get to skip all the admin fees normally involved with providers who operate in bricks and mortar facilities. |
| Fast approvalFast approval | Tic:Toc offers the world’s first instant home loan, which means that it can approve mortgage applications in as little as 22 minutes. |
| Flexible repaymentsFlexible repayments | Whichever Tic:Toc loan you decide to go with, you’ll have the ability to choose from weekly, fortnightly or monthly repayments. |
| Additional repayments facilityAdditional repayments facility | On a fixed rate loan you can make up to $20,000 worth of extra loan repayments during the fixed rate period, whereas with the variable rate version there is no limit. |
| Free redraw facilityFree redraw facility | Unexpected bills and expenses can crop up now and then, so it’s good to know you’ll have access to any extra repayments you’ve made while paying off your mortgage. |
| Optional offset accountOptional offset account | All Tic:Toc home loans give borrowers the option to pay $10 per month for an offset account, which is a great way to minimise interest charges over time. |
If you’re sold on Tic:Toc home loans, by all means go ahead and apply! Just make sure you have the following details ready to include in your online submission:
Once you’ve uploaded your personal details, Tic:Toc will ask you what you think your monthly expenses are. Then it will do some number crunching behind the scenes and if successful you could become a mortgage holder sooner than you thought possible.
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