I didn't think it could be this easy!
Straight forward customer service from the get-go with a 'how do I help the customer' approach. Very rare compared to my existing banker, who's now only interested I'm discharging the mortgage.
I applied to refinance my mortgage for the lower interest rate and bank account guarantee. The application took a little while due to the way my finances are structured but the credit assessor I dealt with was very helpful during the process.
Very nice to deal with
The customer service I received was very polite, friendly and professional. The loan rate is also very good value and the process has been quite simple and easy to complete
Excellent Service, amazing rates!!
The Tic Toc home loans team has been an absolute pleasure to deal with. The online application process was very user friendly and I loved the use of casual humour throughout the process! Every time I rang the team with a question, the team members were super friendly and very happy to answer any questions. The credit assessor, Stephen Cooper, was very knowledgeable, friendly and extremely efficient with the application. He communicated with me regularly regarding any additional requests for information and worked on approving the loan very quickly! I am so impressed and looking forward to leaving one of the Big 4 banks to deal with the friendly and efficient Tic Toc team - highly recommend!!
Fast service and easy to deal with!
Quick helpful service, that was personalized to our circumstances. Tina was very quick to respond to emails and prompt in her actions. Highly recommended loan supplier who deliver what they promise!!
Good rate, but deceptive marketing team. reasonable application process
After being with Commonwealth bank for over 30 years, I decided it was time to change as they were unable to offer reasonable home loan rates. The application process was reasonably simple, but it did take quite a long time to complete, as TicToc are understandably very busy processing applications due to the low rate they offer. I did find some of the paperwork confusing, but I called for assistance and they were able to help over the phone. I hate dealing with these kinds of applications, but overall well worthwhile as it is saving me over $1...000 per year compared to my previous loan. Just an update- Since I specifically asked whether the rate was truly variable I am very disappointed. I confirmed that my rate was not just an introductory offer, and would lower or increase inline with tictoc’s advertised rates. I feel cheated that now I have found out the truth- that I am locked in to a higher rate than currently on offer. No doubt the rate will increase far quicker than it will reduce. A low rate, but just another deceptive marketing team. Very disappointed.
- Verified customer
Smooth and easy process
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.
Risky option that could end up costing you more
I don’t normally leave reviews but feel compelled to inform potential new customers about Tic Toc Home Loans.
The application process was fast and easy as stated. The ‘robot’ couldn’t approve my loan, and it took about 10 days for someone to contact me requesting further information (due to Covid, and I was only refinancing so wasn’t too concerned). After that my house was valued and the loan approved in a week. Loan docs and ID check were easy.
And then nothing.....5 weeks passed. I contacted the conveyancer (as instructed) for an update, n...o reply. I tried again to which they replied “your loan is on hold” contact Tic Toc. The issue was that my house has two titles. The second title makes up a small part of my backyard and is a 999 year lease. I understand that this is not usual but a conveyancer/bank should understand the legality of the arrangement. Both titles were on my loan docs and viewed by Tic Toc prior to approval. The titles had been accepted by the CBA and NAB (my current lender) without question previously. Just under two months since I had my loan approved and I’m told my loan can’t proceed. Luckily I was only refinancing my loan. Imagine if I needed settlement on a new purchase and was told just prior to settlement that the loan couldn’t proceed. Personally I wouldn’t risk a settlement with tic toc for a cheaper rate - it could end up costing you more. Refinancing, try your luck?
Very easy to refinance
There was one glitch on initial application; reported to customer service and it was fixed the next day. Their AI couldn't auto approve but TICTOC staff did an excellent job in following up/guiding and helped though out the process. Great customer service, great rate.
Helpful, friendly & quick
Friendly customer service that was attentive and friendly. The entire loan application process was quick from application through to approval. The asked for some additional documents, but a reason and rationale was provided for each which were all very reasonable. Great low rate variable loan also.
Great customer service and great rate.
Pretty much joining the echo chamber on this - Tic:Toc have been fantastic for our refinance experience. As recent new home buyers, our first home loan was through one of the Big 4 with a broker because the loans and application process were such a nightmare and shrouded in mystery that we simply couldn't get our heads around. After 6 months of being interest gouged and managing to pay off a chunk to stop our LMI being required, we decided to look at refinancing options and stumbled across Tic:Toc.
With less than a week turnaround, Tic:Toc ap...proved us. Ryan from the Credit team was there to help with any questions we had, arranged a house valuation at short notice and request, and helped make the process a breeze. We can't believe the contrast in service and experience between companies with such a short time period, let alone getting back $250 a month on our mortgage and better financial literacy on our loan than we had before.
Do not believe any of the fake good reviews
Went to their website and talked to one of the sales staff on chat who said no problem on refinancing an existing mortgage to unlock additional equity with LVR below 50%. Submitted an application which was a nice and easy process. And unfortunately, that is the only good thing. Then the nightmare starts, got a call from a guy called Aaron asking for pretty much every single piece of information including one off transactions that are 6 months ago which I had difficulties remembering. Then he told me, sorry, we can't do equity unlock for investm...ent, we can't do equity unlock for renovation and we can't do equity unlock for kids education. For investment, you need to provide your current share portfolio in your name, as we cant give you the money for investment if you do not currently have a share portfolio. For renovation, you will need to provide a detailed quote, without a detailed quote, you can't unlock the equity and it better not change any structure of the house as we can't do it. For kids education, we can only give you 50k instead of 100k. Why was I not told by the sales staff? Why the message from sales and credit are conflicting? On the other hand, I feel that I was being interrogated by the tictoc staff like a criminal. Both me and my wife have perfect payment history, great bureau scores and have never missed a single payment in our entire life. If you are refinancing for an equity unlock or top up, I recommend you go elsewhere as the process here is quite difficult.
Great refinancing experience with Tic: Toc
I am very happy to put some feedback to my refinancing experience with Tic:Toc, as I actually checked this website and see a lot of good words about them, which help me decide to go ahead with them. The actual experience is indeed very pleasant and they are super efficient. I am not a stranger to online lenders and recently had refinanced my another loan with a popular online lender, which took me about 2 months to settle, and I thought that was "quick". However for the refinancing with Tic: Toc, it literally took just one whole week to get my ...loan approved. Its self services online application is quite user friendly and very smart to round up the required information in the background, thus save us from uploading paper documents. Also special thanks to our Credit Assessor Stephen C. who is super considerate and professional, guiding us through a seemingly complex situation as we also like to top up fr this refinance. All is all it is a highly recommended product with great rate / feature and most of all a very professional / friendly team to look after applicants. The only regret is we did not find them earlier enough so we could get a even cheaper rate. Thanks guys.
Wow! So quick and easy
We applied online and it took 10 minutes on my mobile to do. Then we got an email saying we need this and that which we scanned and uploaded. Then we were approved. Great service. Ryan from Tic:Toc was very helpful in guiding us through our applications. Very happy as our new home loan rate with Tic:Toc is 2% lower than our old rate saving us >$500 month!
Easiest Mortgage refinance ever
Great initial online experience, followed by a series of clear requests on email for supporting detail. Worked with Ryan who was professional, clear and very prompt in responding. The process was straightforward and simple. We were able to breakdown the questions and documents and work through it very easily.
I am so happy that I transferred my loans to Tic Toc. We are saving a significant amount every month. Customer service is great. I compare it with Aldi, simple, good quality and cost effective. :)
Very easy application process.
Easy application process, and consultant was very approachable, and thorough with his follow up. Highly recommend TicToc for their application process. Online process made this an easy and simple method.
- Verified customer
The best home loan application experience!
This has been the best home loan application experience I've ever had.
TicToc's web application user experience was exceptional.
The virtual valuation of our properties and the ability to link all our current bank/credit account to the application saves enormous amounts of time reducing the number of documents you need to collate.
Our application due to complexity with our living arrangements couldn't be approved on the spot with TicToc's AI reviewer. But working with Ryan from TicToc was incredibly easy, his emails we thorough and easy to follow and he was happy to jump on a call to discuss any of the finer details. Thanks for your help!
I will definitely use TicToc again the next time I need a home loan.
Great customer service! Fast and efficient process!
The customer service at TicToc was superb, all the representatives I've dealt with from the very start (i.e. online chat) to finish (i.e. credit assessor) were all very polite and helpful, and explained the process very well. The application process was very easy and straightforward. I was also very pleased that some of the fees that are normally charged to the applicants by other banks (e.g. valuation of property) were absorbed by TicToc on top of the very competitive rates they provide. Our credit assessor, Ryan Darling, was very fast and efficient in dealing with my application and was very helpful with all my queries. All in all, very happy with TicToc's service! Thank you for a great experience!
Questions & Answers
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.
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
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.
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
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?
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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