Compare Tiimely Home's Home Loans & Interest Rates
Tiimely Home aims to simplify the mortgage process with digital home loan applications, competitive rates and fast approvals.
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- Tiimely Home low-fee home loan offerings support owner occupier and investor borrowing.
- It offers basic home loans and mortgages with offset accounts on variable or fixed rates.
- It's known for its fast digital application and assessment process.
- Tiimely Home is backed by Bendigo and Adelaide Bank.
Launched in 2017, Tiimely Home (formerly Tic:Toc Home Loans) is a digital non-bank lender backed by Bendigo and Adelaide Bank.
The company rebranded from Tic:Toc to Tiimely in November 2023 to reflect its expansion from lending into providing technology solutions to financial institutions.
How Tiimely harnesses technology
Tiimely Home is known for its proprietary digital lending application platform, which combines its core technology 'to make the process faster' with its team of human experts 'to make your experience better'. This allows a home loan application to be assessed in real-time when a customer is filling out their details online.
Its automated assessment system is designed to provide borrowers with what it calls an 'instant home loan' experience. Tiimely claims its fastest home loan contract was delivered in 58 minutes, while its digital application can be completed in as little as 15 minutes in some cases.
It licenses its online platform to major financial institutions, including some of Australia's largest banks and ASX-listed companies.
What home loans does Tiimely Home offer?
Tiimely Home's mortgage offerings are relatively simple. It offers a streamlined range under its Tiimely Own brand, consisting of a basic home loan and an offset home loan.
Both products are available with variable or fixed (1-5 years) interest rates, and support owner occupier and investor borrowing.
Tiimely Basic Home Loan
Tiimely's no-frills home loan designed for borrowers looking for a straightforward mortgage, with basic features and minimal fees. Key features include:
- Variable and fixed rate options
- $0 application fee
- $0 monthly or annual fee
- Redraw facility
- Unlimited extra repayments for variable loans
- $20,000 extra repayments a year for fixed loans
- Tiimely Home App
Tiimely Offset Home Loan
This product includes all the core features of the Basic Home Loan with added offset functionality. Key features include:
- 100% offset account
- Link up to six offset accounts
- $15 monthly fee for the offset
- Variable and fixed rate options
- Redraw facility
- Unlimited extra repayments for variable loans
- $20,000 extra repayments a year for fixed loans
- Tiimely Home App
Other lending options
In addition to its home loans, Tiimely also offers a mortgage broker service for those looking for:
Compare Tiimely home loan interest rates
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Extra Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
6.04% p.a. | 6.05% p.a. | $3,011 | Principal & Interest | Variable | $0 | $0 | 80% | |||||||||||||
6.04% p.a. | 6.21% p.a. | $3,011 | Principal & Interest | Variable | $0 | $0 | 70% | |||||||||||||
6.34% p.a. | 6.35% p.a. | $3,108 | Principal & Interest | Variable | $0 | $0 | 70% | |||||||||||||
6.39% p.a. | 6.14% p.a. | $3,124 | Principal & Interest | Fixed | $0 | $0 | 70% | |||||||||||||
6.19% p.a. | 6.23% p.a. | $3,059 | Principal & Interest | Variable | $0 | $530 | 90% |
| Promoted | Disclosure | ||||||||||
6.44% p.a. | 6.12% p.a. | $3,141 | Principal & Interest | Fixed | $0 | $0 | 70% | |||||||||||||
6.59% p.a. | 6.39% p.a. | $3,190 | Principal & Interest | Fixed | $0 | $0 | 70% |
Tiimely home loan features
Instant online assessment
Rather than relying entirely on manual credit assessment, Tiimely Home's digital application platform analyses much of the borrower's financial information as they're completing their application.
This signature feature enables the lender to reduce turnaround times. In fact, Tiimely says its online application can take as little as 15 minutes to complete, with a record loan contract delivery time of 58 minutes. Note that this can vary depending on individual circumstances.
In-depth pre-approvals
While others may only consider a potential borrower's top line finances when assessing them for pre-approval, Tiimely Home goes deeper, examining broader financial information earlier in the process to potentially reduce the risk of being denied unconditional approval down the track.
Redraw facility and offset account
Tiimely Home customers have access to a redraw facility at no charge. Transactions conducted online are free.
The lender offers a 100% offset account through its Tiimely Offset Home Loan, with a $15 monthly fee. It's available on both variable and fixed home loans.
Additional repayments
Tiimely Home customers with variable rate loans can make unlimited additional repayments, helping reduce their principal faster and potentially save interest over the life of the loan.
Fixed home loan customers, on the other hand, are allowed up to $20,000 additional repayments a year.
Mortgage broker service
In addition to its own loans under the Tiimely Own brand, Tiimely operates a broking arm with a panel of more than 30 lenders that include the big four and other major banks.
This gives customers the option of using Tiimely's technology and advisers to access other lenders' loan products with features more suitable to their needs and financial situation, e.g. split loan facilities, guarantor loans, land and construction loans.
Tiimely Home home loan fees
There are typically a range of costs involved when you take out a home loan. These can include application fees, valuation fees, establishment fees and discharge fees.
Tiimely Home doesn't charge fees* for the following:
- Application fee – $0
- Annual fee – $0
- Offset account fee – $0
- Online redraw – $0
- Valuation fee – $0
A monthly fee of $15 applies on offset products, while exit/discharge cost is $350.
*Correct at the time of writing and may be subject to change.
Pros of Tiimely Home home loans
- Fast digital application and assessment
- Low-fee structure
- Extra repayments
- Free redraw
- Offset account
- Mortgage broker service
Cons of Tiimely Home home loans
- Smaller product range than major banks
- Branch access unavailable
- Offset loan attracts a monthly fee
- Property and borrower restrictions
Tiimely Home home loan eligibility requirements
If you fit the following brief, you may be able to access Tiimely Home's Tiimely Own home loans.
Property type
Eligible:
- Established property over 40 square meters
- Some units and apartments (subject to additional criteria)
Not eligible:
- Off the plan properties
- Properties under construction
Location
- Capital city or major regional centre
Deposit requirements
- At least a 10% deposit or equivalent equity
- At least a 25% deposit for loans over $2 million
Loan amount
- Borrow from $150,000 up to $7.5 million (for loans above $2 million, cash out or equity releases not available)
Employment
- Currently employed through PAYG (at least 6 months) or self-employment (at least 12 months)
Residency
- An Australian citizen or a permanent resident living in Australia
How to apply for a Tiimely Home home loan
If you meet the eligibility requirements and additional requirements (where applicable), go to Tiimely's website and begin your application.
Documents needed
- Valid ID (e.g. driver's licence, Australian passport, Medicare card)
- Income and employment details (e.g. most recent payslips or tax returns)
- Details of savings and assets (e.g. bank statements)
- Details of other loans and liabilities
- Address of the property or postcode if still looking
Once the application is submitted, Tiimely says it will begin assessment within one business day. A credit check will be run to assess each application. This will be recorded on your credit file.
Savings.com.au's two cents
If you're the kind of borrower who values the convenience of a technology-driven product or service, Tiimely Home home loans may appeal to you.
Its proprietary technology enables it to conduct fast online application processes, with quick turnaround times, which, of course, still depends on individual circumstances.
Another plus point is that its home loan products come with essential features without the hefty cost of multiple ongoing and upfront fees. Note that some charges may still apply.
Overall, Tiimely may suit borrowers who are comfortable dealing with a digital lender. That said, if you prefer in-person transactions, having a branch network, and more home loan options, you may find other lenders much more suitable to your needs.