6.3 / 10

based on 3 Tic:Toc reviews as rated by Mozo community

Tic:Toc home loans

Launched in 2017 and backed by the well-known Bendigo and Adelaide Banks, fintech lender Tic:Toc offers innovative home loans for owner occupiers and investors - including the 22 minute online home loan application.

Tic:Toc was recognised in 2020 with the major title of Mozo Online Home Lender of the Year, and it took out a number of other Mozo  Expert Choice Awards for its great value home loan products including for best: Fixed Rate Home Loan, Investor Fixed Home Loan, Low Cost Home Loan, First Home Buyer Loan, Investor Home Loan and Offset Home Loan.

What home loans do Tic:Toc offer?

Rates and fees verified as correct at 19 April, 2021. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

Are you after a mortgage with the security of fixed loan repayments that offers a competitive rate and flexible account features? Then Tic:Toc's Fixed Home Loan is well worth considering. Unlike many fixed rate home loans, borrowers will be able to make additional repayments (free up to $20,000 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. The offer is available to both owner occupiers and investors on loans above $50,000, but plug your numbers into the calculator below for a better picture of what your monthly repayments could look like:

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments  

2.72% p.a.

2.66% p.a.

$0.00

$0

1.99% p.a.

2.15% p.a.

$0.00

$0

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2.59% p.a.

2.63% p.a.

$0.00

$0

2.25% p.a.

2.55% p.a.

$0.00

$0

Variable Rate Home Loans

If flexibility is a must for you when it comes to choosing a home loan, Tic:Toc’s Variable Home Loan won’t disappoint. Not only does Tic:Toc's variable rate home loan offer competitively low interest rates compared to the major banks, both owner occupier and investor 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:

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments

4.62% p.a.

3.13% p.a.

$0.00

$0

2.19% p.a.

2.20% p.a.

$0.00

$0

2.63% p.a.

2.64% p.a.

$0.00

$0

2.33% p.a.

2.34% p.a.

$0.00

$0

Tic:Toc home loan features in a glance

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Low rates

Nabbing a mortgage with a low interest rate will be at the top of the list for many borrowers, which is why Tic:Toc's fixed and variable rate offers may be worth a look because they offer some of the most competitive rates around.

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$0 application fees

One of the benefits of opting for an online lender 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.

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Fast 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.

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Additional repayments and redraw facilities

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. Unexpected bills and expenses can crop up now and then though, so borrowers may also be pleased to know that they'll have access to any extra repayments they've made via an online redraw facility.

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Optional offset account

All Tic:Toc home loans give borrowers the option to pay $10 per month for an offset account, which could prove a handy feature to help mortgage holders minimise the interest they pay over time.

How are Tic:Toc home loans rated?

Mozo users have rated Tic:Toc home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

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Tic:Toc home loans
Overall
6.3/10
Price
Features
Customer service
Convenience
Trust

3 Reviews

Recent Tic:Toc home loan reviews

Tic:Toc Home Loan review
Overall 1/10
Total lack of transparency

Great rate pulled me in. Then I find application is for full credit approval (not just pre-approval like other lenders). But it says I'll find out straight away so I apply. Then it says my file is too complicated so I have to wait for someone to get back to me. Then I wait about a month and receive an email saying my application hasn't been successful. No call to explain or discuss, just a rejection email. Then I call back and speak to credit assessor Ryan who tells me they don't consider loans if the debt to income ratio is above six. If I would have known that at the start I would never have applied. Don't bother unless your situation is super vanilla and straight forward. Total lack of transparency about serviceability requirements and wait times. I had to wait a whole month and now have the credit application on my file.

Read full review

Great rate pulled me in. Then I find application is for full credit approval (not just pre-approval like other lenders). But it says I'll find out straight away so I apply. Then it says my file is too complicated so I have to wait for someone to get back to me. Then I wait about a month and receive an email saying my application hasn't been successful. No call to explain or discuss, just a rejection email. Then I call back and speak to credit assessor Ryan who tells me they don't consider loans if the debt to income ratio is above six. If I would have known that at the start I would never have applied. Don't bother unless your situation is super vanilla and straight forward. Total lack of transparency about serviceability requirements and wait times. I had to wait a whole month and now have the credit application on my file.

Price
10/10
Features
7/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Rebecca, Victoria, reviewed 2 months ago
Tic:Toc Variable Home Loan review
Overall 9/10
Competitive, but limitations as an online lender

The services, processes and the rate is pretty competitive. However, as an online lender, they don't support government support funds such as first home buyers benefits sort of things. You have to deal with it by yourself and they did not seem very knowledgeable about that, especially local state government supports. If you are good at that, tic toc is good.

Read full review

The services, processes and the rate is pretty competitive. However, as an online lender, they don't support government support funds such as first home buyers benefits sort of things. You have to deal with it by yourself and they did not seem very knowledgeable about that, especially local state government supports. If you are good at that, tic toc is good.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
8/10
Trust
9/10
Less
Yunsik, Western Australia, reviewed 10 months ago
Tic:Toc Variable Home Loan review
Overall 9/10
Unbeatable rates with great service.

Tic:Toc offers unbeatable rates with great service.

Read full review

Tic:Toc offers unbeatable rates with great service.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Janet, New South Wales, reviewed over 1 year ago

What do you need to apply for a Tic:Toc home loan?

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:

  • At least one form of ID such as your driver’s licence, passport or Medicare card
  • Evidence that you receive regular income (or have a big pile of savings), which may require you to supply Tic:Toc with your banking login details
  • Proof that you have a 10% home loan deposit

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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