Tic:Toc Home Loans

Read on to compare some of Tic:Toc’s key home loan interest rates and the key features they have.

tictoc-home-loan-logo

About Tic:Toc Home Loans

Launched in July 2017 and backed by Bendigo and Adelaide Bank, Tic:Toc prides itself on transforming the home loan process. Its core technology allows a home loan application to be assessed in real-time when a customer is filling out their details online, taking as little as 22 minutes. The online lender’s mission is to simplify the process and provide borrowers with what it calls an “instant home loan” experience.

Compare TicToc home loans

Lender
Advertised rate Comparison rate Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval
FixedMore details

Live-in Fixed Loan (Principal and Interest) 1 Year

VariableMore details

Live-in Variable Loan (Principal and Interest)

VariableMore details

Live-in Variable Loan (Principal and Interest) (With Offset)

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *Comparison rate is based on a loan of $150,000 over a term of 25 years. Please note the comparison rate only applies to the examples given Rates correct as of October 17, 2021. View disclaimer.

Considering other lenders? Compare home loans with these low-rate offers for owner occupiers:

Lender
Advertised rate Comparison rate Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval
VariableMore details
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
FixedMore details
NO UPFRONT OR ONGOING FEES

Basic Home Loan Fixed (Principal and Interest) (LVR < 70%) 3 Years

NO UPFRONT OR ONGOING FEES
VariableMore details
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. Rates correct as of October 17, 2021. View disclaimer.

What mortgage does Tic:Toc offer?

Tic:Toc offers a range of home loan products for both owner-occupiers and property investors, with either variable or fixed rates that range from one to five-year fixed. Interest-only home loans are also available. See a full list of mortgages on Tic:Toc’s website here.

If you’re a first home buyer or struggling to save a 20% deposit for your home, the fintech also offers low deposit options with a loan-to-value ratio (LVR) as high as 90%.

Tic:Toc home loan features

Tic:Toc home loans offer a range of features such as:

  • Instant assessment: The home loan application assessment and outcome are 100% online and can be done instantly.
  • Fee-free loans: Tic:Toc home loans don’t come with any type of upfront or ongoing fees.
  • Offset account: Customers can add on an offset account to a home loan for $10 per month.
  • Additional repayments: Free unlimited additional repayments are allowed.
  • Redraw facility: Tic:Toc offers free unlimited redraw on any additional repayments.

How to apply for a Tic:Toc mortgage

Eligibility criteria

To be eligible for a home loan from Tic:Toc, you need to:

  • Borrow between $50,000 and $2,000,000
  • Buy or refinance an established home that’s worth at least $150,000. Lands or off-the-plan purchases aren’t eligible.
  • Buy within a capital city or major regional centre
  • Have a minimum of 10% deposit or equity for an owner-occupied home loan, or 15% deposit or equity for an investment or interest-only home loan
  • Be an Australian citizen or permanent resident and live in Australia
  • Supply a form of ID for each applicant

TicToc has a six-step “instant application” process that can be executed online as follows:

  1. Tic:Toc runs a digital property valuation to assess the loan amount you can borrow
  2. Tic:Toc then provides a couple of options suitable for you and your circumstances
  3. The customer provides a form of ID
  4. The customer provides estimates of income and expenses
  5. The customer receives the outcome in just a few minutes
  6. Upon approval, loan docs will be sent out to the customer, which usually take 30 minutes to two days

Documents needed

To ensure that your home loan application is completed within the promised 22-minute timeframe, be sure to have the following documents handy:

  • The address of the property you’re purchasing and its estimated value
  • How much you would like to borrow for your home loan
  • Your household income before tax
  • Your estimated household expenses (e.g. groceries, utility bills, childcare)
  • The latest three months of your transactional statements