Find a competitive variable home loan rate? Online lender Tic:Toc will match it

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on June 07, 2022 Fact Checked
Find a competitive variable home loan rate? Online lender Tic:Toc will match it

The new feature will allow digital lender Tic:Toc to match the variable rate for eligible owner occupiers and investors who may find a more competitive rate elsewhere on an identical product.

'Rate Match' from Tic:Toc is available for eligible owner occupiers and investors across variable rate 'Live-in' or 'Investment' home loans financing from June 1. 

The digital lender will match the variable rate across a competitor's variable principal and interest (P&I) home loan products if it is currently on offer and is identical to the material features of the Tic:Toc product.

This means that if the competitor's product for example does not offer an offset account whereas Tic:Toc's product does, Tic:Toc will not consider the products identical and therefore will not match the competitor's rate.

Further, the 'Rate Match' rate will be honoured if the rate appears in the home buyer's loan contract, which must be accepted under the normal terms of the contract.

Tic:Toc's Chief Marketing Officer Laura Osti said the digital lender is confident that the brand has Australia’s lowest cost P&I variable home loan, with no fees, and 90% LVR.

"Having the best rate is just where we start -  you get other benefits like no Tic:Toc fees, great product options including a 100% offset account, super fast turnarounds and personalised Australian-based customer service," Ms Osti said.

It's important to note like all variable rate home loans, Tic:Toc's variable Live-In and Investment home loans are susceptible to interest rate movement following the RBA cash rate decision. 


Compare a range of Tic:Toc's home loans in the table below.

Lender

Variable
More details
NO ONGOING FEESFREE REDRAW FACILITY
  • Rate Match Guarantee. Tic:Toc will match the rate on identical variable P&I home loans. T&C's Apply.
NO ONGOING FEESFREE REDRAW FACILITY

Live-in Variable Loan (Principal and Interest) (LVR < 90%)

  • Rate Match Guarantee. Tic:Toc will match the rate on identical variable P&I home loans. T&C's Apply.
Variable
More details
  • Rate Match Guarantee. Tic:Toc will match the rate on identical variable P&I home loans. T&C's Apply.

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

  • Rate Match Guarantee. Tic:Toc will match the rate on identical variable P&I home loans. T&C's Apply.
Fixed
More details
No ongoing feesFree redraw facility
  • Rate Match Guarantee. Tic:Toc will match the rate on identical variable P&I home loans. T&C's Apply.
No ongoing feesFree redraw facility

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

  • Rate Match Guarantee. Tic:Toc will match the rate on identical variable P&I home loans. T&C's Apply.
Fixed
More details
  • Rate Match Guarantee. Tic:Toc will match the rate on identical variable P&I home loans. T&C's Apply.

Live-in Fixed Loan (Principal and Interest) 2 Years

  • Rate Match Guarantee. Tic:Toc will match the rate on identical variable P&I home loans. T&C's Apply.

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 be 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. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of June 29, 2022. View disclaimer.


Image by Planet Fox via Pixabay

Disclaimers

The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the Savings Media group. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. To read about how Savings Media Group manages potential conflicts of interest, along with how we get paid, please visit the web site links at the bottom of this page.

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Jacob Cocciolone joined the Savings team in 2021 as a Finance Journalist. Driven by a passion for keeping Australians up to date with the latest financial news and trends, his areas of interest include financial technology, investing, property and motoring.

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