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Tic:Toc Home Loans

Tic:Toc Home Loans

4.1 from 252 reviews · View Statistics

Reviews

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Joy

JoyMelbourne

  • 5 reviews
  • 4 likes

Did not pass on the RBA rate cut.

published

Two continuous RBA rate cuts was not passed on to the existing customers. When contacted I was told that their funder decided not to pass on the recent RBA cut. This was the reply for the previous rate cut as well.

Very disappointing for otherwise a great home loan experts. I am planning to move on to other lenders where they offer 0.65% lower than I have now with TicToc.

Customer Service
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forFirst Home
See all answers
2 comments
Tic:Toc
Bailey U.Tic:Toc
Joy
Joy
Dereck

DereckPerth, WA

  • 17 reviews
  • 4 likes
  • Verified customer

Just another bunch of check box ticker's

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan used forFirst Home
See all answers
Matt

MattGreater Melbourne (Metropolitan), VIC

  • 4 reviews
  • 3 likes

Existing customers on much larger rate

published

I've had a home loan with Tic Toc for less than 2 years now and my variable rate is over 0.5% higher than the current variable rate advertised. The 0.15% rate cut in November was not passed onto existing customers, and less than two weeks later some of their variable loans were reduced by 0.37% for new customers. The initial application process itself is fine, the customer service is generally good, but there is no mobile application and you continually have to call them up, argue and threaten to leave to try and get a rate reductions that they don't pass on.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forInvestment Property
See all answers
2 comments
Tic:Toc
Bailey U.Tic:Toc
Matt
Matt
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Andrew

AndrewSydney, NSW

  • Verified customer

Great value loan, approval process smooth

published

Great low rate and offset account features.
We had a pre-approval from our regular bank but then switched after signing the contract.
Easy process, took 11 days from start to approval.
Will update this review once settled.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateNovember 2020
Loan used forFirst Home
See all answers
1 comment
Tic:Toc
Bailey U.Tic:Toc
Rob

RobHobart, TAS

Fast turnaround and excellent service

published

A big thanks to Aaron who was able to get my loan approved in just a couple of days with a tight timeframe to work to due to a fast expiring finance clause. Been waiting for 2 weeks for another lender just to give me an answer, so their ability to turn this around so quickly might have just saved my bacon!

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeFixed Rate
See all answers
1 comment
Tic:Toc
Bailey U.Tic:Toc

Inefficient service, had to go elsewhere

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forFirst Home
See all answers
1 comment
Tic:Toc
Bailey U.Tic:Toc

Simple, easy and quick!

published

A massive thank you to Rachel and the TicToc team. Very quick at responding to questions and getting the ball rolling with my first home loan. The rate was low and had all the things I needed- offset account and can withdraw. All online and it was made super easy. Thanks!

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
See all answers
1 comment
Tic:Toc
Bailey U.Tic:Toc

Outstanding Service

published

We were allocated a credit assessor (Aaron) who was excellent. He responded to emails quickly and gave outstanding 'old style' customer service. I would recommend the process to anyone wishing to obtain cheap finance.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeFixed Rate
Loan Start DateOctober 2020
Loan used forSecond Home
See all answers
1 comment
Tic:Toc
Bailey U.Tic:Toc
Brett

BrettQueensland

Fantastic Service and communication

published

Dealing with TicToc team has been a breeze.
They have communicated to me the status throughout (which keeps the mind at ease) and have been responsive to questions and requests. So far so good !

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
See all answers
1 comment
Tic:Toc
Bailey U.Tic:Toc
Home Loans

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RedDog

RedDogSydney, NSW

The team at Tictoc were great to deal with, BUT...

published

The team were responsive via email and chat to assist in filling out home loan paperwork.
Costs were as quoted - no surprises. No issues, with the service or the team. Great product. Update Nov 2020- Their Variable rate loan doesn't follow RBA Rate cuts. Not really variable Rate..! TicToc's repsonse is that only new customers get the RBA rate. Beware if your a new customer as Tictoc / Adelaide/Bendigo bank havent been passing on rate cuts - which is very disappointing that due they arent willing to help their customers kick start the economy during the pandemic..

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateMarch 2020
Loan used forFirst Home
See all answers
3 comments
Tic:Toc
Bailey U.Tic:Toc
RedDog
RedDog

Hi Bailey, I have revised my review due to recent stance on not passing on RBA rate cuts.

Tic:Toc
Bailey U.Tic:Toc
Pedram A.

Pedram A.Greater Melbourne (Inner), VIC

  • 2 reviews
  • 1 like

Poor support from Adelaide and Bendigo Bank

published

Be careful about this Broker. I'm with them for around two years and received a poor response from Adelaide and Bendigo Bank support team. I have been calling/emailing Adelaide bank for 2 months to convert my loan (not refinancing! just simple convert) If you are from TicToc I assume, you are not their priority.
Adelaide bank even doesn't respond to your email and you can't get anywhere even with calling them.
I want to change my bank but I don't know my homeloan status.
BTW if you search, you will find better interest rate.
be careful, especially if you are an investor.
TicToc needs to get a better customer service from Adelaide and Bendigo bank.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeFixed Rate
Loan used forInvestment Property
See all answers
3 comments
Tic:Toc
Bailey U.Tic:Toc
Pedram A.
Pedram A.
Tic:Toc
Bailey U.Tic:Toc
Mando

MandoChewton

  • 10 reviews
  • 17 likes

Good rate, but deceptive marketing team. reasonable application process

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateSeptember 2020
Loan used forRefinancing
See all answers
4 comments
Tic:Toc
Bailey U.Tic:Toc
Mando
Mando
Tic:Toc
Bailey U.Tic:Toc

So smooth, so helpful

published

Stephen Cooper was the best credit agent I've worked with. Ask for him when applying.
Overall, the process was very easy and rates are great. All my questions were answered quickly with onsite chat or via Stephen.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forSecond Home
See all answers
1 comment
Tic:Toc
Bailey U.Tic:Toc
miumiu

miumiuSydney, NSW

Ridiculous system with NO pre-approval!!!

published
Incentivised ReviewNo
Loan used forSecond Home
1 comment
Tic:Toc
Bailey U.Tic:Toc

Good service and explained in simple terms

published

Rachel was helpful in asking for additional documents that we needed, and all other correspondence has been clear in explaining the terms of the loan and what could be offered.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeFixed Rate
Loan Start DateSeptember 2020
Loan used forFirst Home
See all answers
1 comment
Tic:Toc
Bailey U.Tic:Toc
Home Loans

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Great Application Process

published

I was pleasantly surprised at how stress free the home loan application process has been with Tic:Toc! I was able to enter most of my details digitally which saved a lot of time. Aaron was assigned to review my application and he was fantastic to work with. He was very prompt in phoning/emailing and keeping me updated and answering my questions. Rosne was also super helpful when we spoke many times over the chat. I also like that they show the interest rate existing customers are paying.

From application to approval took less than 3 days!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateSeptember 2020
Loan used forFirst Home
See all answers
1 comment
Tic:Toc
Bailey U.Tic:Toc

Very helpful

published

We bought our first house with a loan by Tic:Toc, Kristina was helpful guiding us through the home loan process and very responsive to our questions. Lots of real-estate agents hadn't heard of Tic:Toc or understood how they work, they almost didn't believe that we had full approval a day after we signed a contract. The rates were also the lowest we could find.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
See all answers
1 comment
Tic:Toc
Bailey U.Tic:Toc
grrahul

grrahulSydney

  • 13 reviews
  • 8 likes
  • Verified customer

Smooth and easy process

published

I've been with Tic: Toc for a little over 9 months now and am very happy. The process was fairly smooth, although it did take a few months since the time I applied for the loan. Recently, I also submitted a request to see if I could get their advertised rate on the website and they moved me down from 2.54% to 2.39% which was a very nice gesture on their part. The only little drawback is that Adelaide Bank, their funder, doesn't have any way to make fast payments using Pay ID so that would be a good thing if they could add that. Additionally, you are also limited to just 1 offset account, it would be nice to have 2 or more offset accounts. But honestly, these are very minor issues.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateJanuary 2020
Loan used forRefinancing
See all answers
1 comment
Tic:Toc
Bailey U.Tic:Toc
Luke W.

Luke W.Hunter Region, NSW

Simple and easy

published

Stephen was very helpful and kept us informed along the way.
All costs were upfront.
Very competitive rate. Stephen worked with us to ensure we had the right product to suit our needs.
Live chat is very convenient

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forSecond Home
See all answers
1 comment
Tic:Toc
Bailey U.Tic:Toc
pch2000

pch2000Sydney, NSW

Terrible product

published

Submitted the details as requested and was declined a home loan without reason. Operator on the phone was rude and unable to help. Submitted the same details to other major banks including CBA and got approved with no questions.

I don't think this service is an improvement by any stretch on the current way of doing things.

Website also crashed a few times during the application process which gives me worry about the personal information I've shared.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
See all answers
1 comment
Tic:Toc
Bailey U.Tic:Toc
Page 1 of 13

Questions & Answers

SA-PR

SA-PRasked

I have 2 investment properties in one of the fasted growing Suburbs in Australia, that I wish to refinance.

Aintree 3336 VIC

This area used to be Rockbank 3335, and the local government decided to call it by a new name - Aintree 3336 recently.

Now you lend for 3335 and NOT for 3336 (which essentially is the same area)

Any chance you can ask the relevant people to look into this please.

1 answer
Tic:Toc
Bailey U.Tic:Toc

Hi SA-PR, thanks for your excellent question.

Since 3336 is a newer postcode, I have asked our funder for clarification as to whether 3336 is intentionally excluded from our list of serviceable areas, or if it has been mistakenly excluded. We can't lend to all areas within Australia as some fall outside of our risk appetite. Typically we can only lend to capital cities and major regional centres.

When I receive an update from our funder I will update you ASAP. For the time being, we are unfortunately not in a position to consider this postcode.

I hope this helps answer your question. Thanks ~ Bailey

Vscarf10

Vscarf10asked

Hi Tic Toc
I’m an existing customer and noticed that you are offering an interest rate of 2.33% for variable with offset account, however my existing loan is almost .50% higher. Any reason why you don’t look after your existing customers with same rate?

Given that its a no frills service where I have never needed to contact you and you have never contacted me since the start of my loan, I’m not sure why I should be slugged with a considerable % difference, after all I refinanced to you for this very reason where my previous lender felt that I should be treated less favourably than potential borrowers.

I dont think its good business to treat some customers more favourably than others as someone will always feel that they are being taken advantage of by having to pay more interest than others with no additional benefits for doing so.

1 answer
Tic:Toc
Bailey U.Tic:Toc

Hi Vscarf10, thanks for your question.

Think of it like this – when you get a Tic:Toc loan, we’ve locked in a ‘price’ with our funder (Bendigo and Adelaide Bank) at a point in time, which is reflected in your interest rate.

When we have a new variable rate offer for new customers, it means we’ve been able to lock in a lower price with our funder. It doesn’t change the price we secured for your loan. And not all offers are linked to cash rate movements.

So, having a lower rate for new customers doesn’t mean we’re making more money off our loyal customers to pay for the discount – because we don’t believe in that. It means our funder has been able to give us a better price at that specific time.

At some point, our funder may actually increase the price they’ve agreed with us, which means the rates offered to new customers will go up. And some existing customers will be better off.

When there’s an RBA cash rate cut and our funder’s costs ease, they may be able to pass on the cut which means all our customers will receive the same discount off their rate – new and existing.

The good news is, all of our rates are seriously good because of our tech-driven proposition. And even if your rates are a fraction higher than the new headline rate, you will still be saving thousands compared to the average loan.

I hope this helps. Please let me know if you have any other questions. ~ Bailey

Matt

Mattasked

I’m only interested in refinancing if I have 20% equity or more. I worked out that I roughly have 22% equity in our property, but this is based on recent sales in my area. In the event that your valuation states I don’t have over 20% equity, and I don’t go ahead with the refinance is there any fees or charges for this process? (E.g a fee for the valuation?)

Also do you deal with the whole refinance process or do I also need to speak with my current lender?

1 answer
Tic:Toc
Bailey U.Tic:Toc

Hi Matt, thanks for your question.

We don't charge any fees for applying. You can withdraw your application before it settles and you won't be charged a cent by us.

During settlement, you may be subject to other, third-party costs (like government stamp duty, or our digital conveyancer's fee). You can find a more detailed breakdown here: https://tictoc.com.au/faqs/what-are-the-fees-associated-with-a-tictoc-home-loan

We also deal with the whole refinance process. To discharge from your current home loan, we'll provide you with a discharge form which we submit on your behalf. If you're in a fixed-term contract with your current lender, it may be a good idea to speak with them about any break costs you may be charged by them.

For more information about how we value properties, see here: https://tictoc.com.au/faqs/how-does-tictoc-work-out-the-value-of-my-property

I hope this helps answer your questions. Please let me know if there is anything else I can assist with. :) ~ Bailey

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