Tic:Toc partners with AFG to launch mortgage broking operations
Ahead of a looming refinancing wave amid interest rate hikes, the partnership enables Tic:Toc to offer AFG’s network of more than 3,500 brokers to help them deliver faster mortgages.
The Tic:Toc platform is currently licensed by 17 enterprise partners, including two of Australia’s five largest banks - Bendigo and Adelaide Bank.
If a borrower was to fall outside Tic:Toc’s credit criteria for a branded home loan, they would be offered loans from AFG’s broader product set which includes more than 70 lenders.
By capturing the application data, this could speed up the underwriting process for banks and non-bank lenders as AFG can offer lenders on its panel borrowers who have already been validated.
Essentially, the partnership's main goal is to supercharge home loan processes.
Tic:Toc founder and CEO Anthony Baum said he is thrilled to partner with such a respected and industry experienced company.
“AFG and Tic:Toc are aligned on our commitment to deliver customer-focused, low-friction home loan solutions for Australians and their communities,” Mr Baum said.
“This innovative partnership is an example of the work Tic:Toc is doing to make home loans faster, smarter and simpler for our customers and partners.”
David Bailey, AFG chief executive officer, said both AFG and Tic:Toc are leveraging technology to make the service experience better and faster for all customers.
“We’re very pleased to be partnering with leading digital lender and technology provider Tic:Toc to help deliver a better service to Australian home buyers," Mr Bailey said.
"We bring our best-practice aggregation solution, decades of experience in helping to build extraordinarily successful broker business, and a great range of products to the table, and Tic:Toc brings world-leading technology via their AI-driven lending platform and tech-centered customer focus.
“We think that our partnership with Anthony and his team will not only create an exceptional digital broker experience for Tic:Toc customers but that, collectively, we can work towards transforming the landscape for all AFG brokers.”
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Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5.94% p.a. | 5.98% p.a. | $2,978 | Principal & Interest | Variable | $0 | $530 | 90% |
| Promoted | Disclosure | ||||||||||
5.89% p.a. | 5.80% p.a. | $2,962 | Principal & Interest | Variable | $0 | $0 | 80% |
| Promoted | Disclosure | ||||||||||
5.99% p.a. | 6.02% p.a. | $2,995 | Principal & Interest | Fixed | $0 | $0 | 60% |
| Promoted | Disclosure | ||||||||||
5.93% p.a. | 5.93% p.a. | $2,975 | Principal & Interest | Variable | $0 | $395 | 70% | Disclosure |
