Tic:Toc Variable Home Loan

3.58% p.a.

3.59% p.a.

$0.00

3.99% p.a.

4.00% p.a.

$0.00

5.10% p.a.

5.11% p.a.

$0.00

4.98% p.a.

4.99% p.a.

$0.00

Tic:Toc Variable Home Loan Review

Rates and fees information correct as at 16 December 2017.

Review published: 13 July 2017

What's hot:

  • 3.58% variable rate (3.59% comparison rate)

  • $0 upfront fees

  • Fast application and approval

What's not:

  • Offset account requires $10 monthly fee

Mozo snapshot:

Offering an alarmingly low variable rate at 3.58% (for owner occupiers) and a mortgage approval process that only takes 22 minutes, the Variable Home Loan by Australia’s newest online lender Tic:Toc stands out in the online lending space for all the right reasons. But that’s not all this mortgage has going for it - there’s an offset account available on an opt-in basis, fee-free redraw facility and flexible repayments.

Key features:

If you’re looking for a low rate mortgage, the Tic:Toc Variable Rate Home Loan is well worth considering with an interest rate of only 3.58% (3.59% comparison rate) for owner occupiers and 3.99% (4.00% comparison rate) for investors. The fintech lender has one of the fastest approval times in the market - it can literally approve your loan in 22 minutes! While you apply 100% online Tic:Toc also has customer support you can talk to over the phone or via an online chat.

The Tic:Toc Variable Rate Home Loan is suitable for those looking to borrow as much as 80% of the property’s value and loan amounts can range from $50,000 to $1,200,000. While there are $0 application fees required, if you choose to have an offset account active, which is a great way to reduce the interest on your home loan, you’ll pay $10 every month.

On the flexibility front, you can choose between weekly, fortnightly or monthly loan repayments, make extra repayments at any time, and if needed, dip into any additional home loan repayments free of charge via a redraw facility. At the end of the loan term, just be aware there is a $325 discharge fee.

Who it's good for:

Homeowners in the market for a low rate home loan that offers a quick application turnaround, while at the same time doesn’t fall short on the perks of an optional offset account and free redraw facility.

Any catches?

The maximum loan to value ratio is 80%, so to be eligible for this mortgage you’ll need at least a 20% deposit saved up.

The Tic:Toc variable loan is only available for established dwellings so if you’re looking to buy off the plan or a block of land you’ll need to apply for a different home loan. To start your search, head over to Mozo’s home loan comparison hub.

The Mozo community has not yet rated Tic:Toc for this home loan.

Currently showing

Rates

  • 3.58% p.a.

  • n/a

  • 0 Months

  • none

  • 3.59% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • none

  • none

  • none

  • none

  • none

  • $0.00

  • $325.00

Other financial bits

  • $50,000

  • $1,200,000

  • none

  • 80.00%

Features

  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • none

  • no

  • yes - optional, $10 per month

  • none

  • none

Rates

  • 3.99% p.a.

  • n/a

  • 0 Months

  • none

  • 4.00% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • none

  • none

  • none

  • none

  • none

  • $0.00

  • $325.00

Other financial bits

  • $50,000

  • $1,200,000

  • none

  • 80.00%

Features

  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • none

  • no

  • yes - optional, $10 per month

  • none

  • none

Rates

  • 5.10% p.a.

  • n/a

  • 0 Months

  • none

  • 5.11% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • none

  • none

  • none

  • none

  • none

  • $0.00

  • $325.00

Other financial bits

  • $50,000

  • $1,200,000

  • none

  • 80.00%

Features

  • Owner Occupier

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • none

  • no

  • yes - optional, $10 per month

  • none

  • none

Rates

  • 4.98% p.a.

  • n/a

  • 0 Months

  • none

  • 4.99% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • none

  • none

  • none

  • none

  • none

  • $0.00

  • $325.00

Other financial bits

  • $50,000

  • $1,200,000

  • none

  • 80.00%

Features

  • Investor

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • none

  • no

  • yes - optional, $10 per month

  • none

  • none

*The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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