Really smooth process, helpful and good rate.
Good customer service, easy to get a hold of, responsive and professional.
Explained everything very clearly, provided advice where appropriate.
Overall very satisfied with the service that I received, would recommend to others!
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.
So smooth, so helpful
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.
Ridiculous system with NO pre-approval!!!
No pre-approval system doesn’t mean the company offer helpful home loan process. We applied online and our application was rejected without any specific reasons. I called the customer service the next day and was explained that we couldn’t get the loan amount we wanted. When asked how much we could borrow based on our incomes, they couldn’t give us the answer. The reason was “Tictoc doesn’t give Pre-approval”, so they can’t give you any figure until you signed the purchase contract. WHAT A RIDICULOUS SYSTEM??!!
How about we’ve signed the contr...
Simple and easy
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
Excellent service and great product. So far.
Have only just signed up, and been approved. So far, the experience has been excellent. I spoke to multiple people, mostly on the web chat, but some phone calls at the later stages. In every case, the person I spoke to was friendly, knowledgeable, and managed to answer my questions quickly and can clearly. Quite a pleasant surprise :)
No common sense. Backwards thinking
My husband and I applied for a loan with this bunch of incompetence and they told us we can’t “afford” the loan even though we have been currently been paying more for the last 3-4 years on our mortgage at a higher rate/repayment and have also managed to save over $150k on top of all our bills. To get approved we also finalised our A rated car loan and credit card which we didn’t owe mulch on and we still “failed” servicing. I think the key ingredient they lack is a bit of common sense. Don’t waste your time. This is a backwards thinking lende...r that can not put 2 and 2 together. On top of it all, it took 4 weeks for them to say no even though our credit score are 800, our combined income is nearly $200k p/annum and we have never missed a payment on any bills in our lives.
Very Slow. Very Incompetent. False Advertising
If you are hoping to Use Tic: Toc and you have just signed a purchase contract, GO ELSEWHERE.
I had this misfortune of dealing with Stephen Cooper, who lacks the ability to perform basics math. For a company that claims to use the latest technology, the process was so slow and arduous. In the process I closed my A rated NAB credit card account which I owed $0 on, I finalized my car loan which was also an A rated account as I didn't owe much money on, I provided statements showing perfect current mortgage repayments at a higher amount than what...the new loan was going to be and Stephen told me that my "living expenses" are $7000 p/month before taking in to account any other fixed liabilities, which is physically impossible. I also have over $150k in savings (not sure how I can save money if my "living expenses" are more than what I earn. I work in finance myself and Stephen seems to lack competence to add 2 and 2 together and realise that he was doubling down on my minimum credit card payments and "living expenses". I asked if I could please speak to a manager and he told me no, and that there was no one there higher than him I could speak to. Don't waste your time with these idiots. Its actually embarrassing that I have put myself in such a good financial position and then be told no 4 weeks later.
Horrible experience. No phone communication to explain and instant decline
Horrible experience. Applied online and was stated that a home loan expert needed to look into it. I tried calling for a few days to see what they needed. Then got an email stating it was declined.
I was told we didn't meet the serviceability.. However my wife has just taken 12 months off work (unpaid) and we have coped just fine without any credit cards, personal loans or drawing down on our savings.
My wife is now back to work permanent part time and her earnings are double the proposed repayment, so didn't make any sense at all. Was treat...ed like an idiot when I phoned for an explanation, but didn't get one that made any sense. Horrible experience!! They might have a good product but they aren't practical whatsoever, and communication very poor!! Don't waste your time if you are in a rush
Don’t waste your time
Tic:Toc don’t have the systems, staff and processes to deal with the simplistic of financial information, they use manual spreadsheets and don’t seem to understand what they are looking for or what information is needed. Wasted hours and hours of our time but too complicated ! One bank account and 2 credit cards . I managed to get unconditional pre approval from Westpac and comm bank in less time whilst Tic Tic wanted me to explain every discretionary transaction on my December credit card statement why I am not sure, basically got nowhere. I gave up
Easy process online
The initial process of the home loan application was easy and all online via email. Our credit assessor Ryan Darling was excellent and extremely helpful. He replied to our emails the same day and that was much quicker than the banks we have dealt with in the past.
We have not completed settlement yet, but we are hopeful that it will be just as smooth. We will provide a review of that process later.
Fantastic, friendly and simple!
The process from beginning to end has been easy, communication was fantastic. Really cannot fault any aspect, highly recommended to anyone who is seeking great rates accompanied with great service.
December 16th 2019 Update: Easy and fast! Thanks Tic Toc and Ryan!
Tic Toc were fantastic from the first to last step of our home loan application.
The process was simple and fast -something some might not expect from an online lender, so it was great to see that myth busted.
Our loan assessor Ryan was very helpful, kept us informed the whole way and was easy to contact via either email or phone at any time.
On top of that our interest rate has dropped twice so can't complain about that either!
Fairly easy and helpful
The consultant Aaron was very prompt and thorough. And patient! There are some unexpected costs for disposal which I was not told upon my initial phone enquiries but the costs are clearly outlined in the paperwork which is easy to follow. I like being able to use the automated system.
very very appriciate for Mr.Ryan Darling
How was your customer service experience with this company?
Did you experience any unexpected extra costs or other issues while on this loan?
How satisfied are you with the rate you received for this loan?
> very Good
The reviewer stated that an incentive was offered for this review
Easy application process, great rate!
We've just settled on a new property and had a very good experience with Tictoc. They were very helpful all through the application process, responding quickly to any concerns. Also the rate was much better than the banks were offering. Highly recommend.
Amazing support and advice
We called Ryan on a Saturday, we had an auction that day and he went above and beyond to get the approval across the line. He has been supportive and answered all my questions - and there were a few and each time he followed up with an email and a call. His level of customer service is exactly what you need when you are in throws of battling it out at auction! Any stress I had about the loan and the process he just made it extremly easy to understand. I would certainly recommend Ryan!
December 5th 2019 Update: A top notch customer service expe...rience It's exhausting when trying to find a home, many weekends are spent trawling the auctions and opens and it's emotional and stressful. Add to that the requirement to find a bank/business to loan you money, the stress levels go through the roof, but finding TicToc changed that for my partner and I. We had the pleasure in dealing with Ryan, he made the process easy and because of his personable approach the whole experience was so much less stressful and I was extremely nervous about our purchase but he answered all my questions, I didn't have to wait for days on end for answers, he came back to me straight away - every single time. The level of customer service hands down has been the best I have ever experienced and I can't thank Ryan and his team enough for their support. It has been a pleasure dealing with Ryan and all I can say is you'll be lucky to have him in your corner ! Thank you Ryan and the team at Tic Toc :)
Great service and great rates
Ryan from TicToc has been great to deal with. His responses have been quick and accurate and he was always very professional and knew exactly what to ask for regarding our financial position. I highly recommend Ryan and TicToc for great rates.
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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