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Tic:Toc Home Loans

Tic:Toc Home Loans

4.1 from 268 reviews · View Statistics

Reviews

3.3

13 reviews
3
(0)
2
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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
2 comments
Tic:Toc
Bailey U.Tic:Toc
Matt
Matt
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
3 comments
Tic:Toc
Bailey U.Tic:Toc
Pedram A.
Pedram A.
Tic:Toc
Bailey U.Tic:Toc

Not treating the existing customers fairly

published

They will lock you in and then dont reduce interest rate. Mine is now 3.41% while the others lenders keep on dropping their rate. For new customers they are offering 3.15% (before today RBA cuts) for the same type of loan and when I talked to them they refuse to match my rate with new customers i.e. existing customers are treated unfairly. Now considering switching to Athena even if it cost me a bit upfront.

Transparency
Customer Service
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateAugust 2019
Loan used forInvestment Property
1 comment
Tic:Toc
Bailey U.Tic:Toc
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Excellent service throughout the application process

published

Ryan was excellent throughout the application process. Very responsive and at all times, helpful and polite. If you are thinking of switching your home loan to Tic:Toc I highly recommend it.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forInvestment Property
1 comment
Tic:Toc
Bailey U.Tic:Toc

Hi Edward, thanks for your review and for the kind words about Ryan. We'll pass your comments on to him and the team. Thanks for your recommendation, and welcome to Tic:Toc! ~ Bailey

Fantastic experience from Start to finish

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeFixed Rate
Loan Start DateNovember 2019
Loan used forInvestment Property
1 comment
Tic:Toc
Bailey U.Tic:Toc
Jojo

JojoGreater Melbourne (Outer), VIC

quick responsive service and a super competitive rate

published

My loan was approved in under two weeks, and I am now getting the most competitive interest rate on the market. Ryan, my credit assessor, was thorough and very easy to deal with.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateOctober 2019
Loan used forInvestment Property
Marko S.

Marko S.Greater Melbourne (Metropolitan), VIC

Great rates, fast and easy applications

published

The numbers stack up. I am paying a lower interest rate % with variable IO via TicToc compared to a P&I with a big four. It was a painless application process, due to the great customer service from Ryan and Shalini. I feel very comfortable in proceeding with a banking relationship with TicToc.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forInvestment Property
1 comment
Tic:Toc
Bailey U.Tic:Toc
Boris Grujic

Boris GrujicGreater Melbourne (Outer), VIC

  • Verified customer

Don’t waste your time. Go elsewhere

published

Absolutely clueless, my investment property rental return ALONE covers my current repayments by over 50%; on top of this my full time income covers it almost 5 times over and yet they deny my application to refinance due to “not meeting servicing requirements”

They wasted 2 weeks of my time, I highly recommend you don’t waste yours.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeFixed Rate
Loan used forInvestment Property
1 comment
Tic:Toc
Bailey U.Tic:Toc

Frustrating home loan process

published
Application Process
Timeliness
Incentivised ReviewNo
Loan used forInvestment Property
1 comment
Tic:Toc
Bailey U.Tic:Toc
Home Loans

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Philip E.

Philip E.Central, SA

Pain free refinancing well almost

published

Overall the customer experience was very good. Ryan Darling was our loans consultant and found him proactive in responding to queries . I look forward to tictoc passing on recent rate cut in full

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forInvestment Property
1 comment
Tic:Toc
Bailey U.Tic:Toc

Hi Philip, thanks for your positive feedback. We're glad our champion credit assessor Ryan was able to help you refinance. Please get in touch if you need anything further, and welcome to Tic:Toc! ~Bailey

Helena

HelenaMetropolitan Adelaide, SA

  • 2 reviews

Professional & effcient

published

Feel so lucky getting through this sophisticated process with David's help. We have got a little bit glitch during our application, he responded to our question promptly and support us solved it effectively. His service really reflects his efficiency and professionalism.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forInvestment Property
1 comment
Tic:Toc
Bailey U.Tic:Toc

Best rate! Excellent service!

published

I worked with Ryan to get my investor mortgage approved and am really happy with the personal care and quick responses I received. Ryan clearly walked me through every step and felt really well taken care of. No hidden fees and would recommend it in a heartbeat.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateMarch 2019
Loan used forInvestment Property
1 comment
Tic:Toc
Bailey U.Tic:Toc

Hi Nina, thanks for taking the time to leave such great feedback. We're so glad you had a great experience with Ryan and the team! Should you need anything further, please give us a bell - welcome to Tic:Toc. ~ Bailey

clemmo

clemmoSouth East Queensland, QLD

Easy Online Process, Great Service, Best Interest Rates!

published

I had to re-finance my existing investment home loan as my current lender kept bumping up their interest rates. I found Tic Toc interest rates to be the lowest. The application was almost all done online which was amazing. There were just a few final steps that needed to be done with a person, so Aaron was very helpful to help me through this via phone and email. Keep up the good work and low interest rates Tic Toc!

Online Tools
Incentivised ReviewNo
Loan TypeSplit
Loan used forInvestment Property
1 comment
Tic:Toc
Charles M.Tic:Toc

Hi Clemmo, thanks for the great review. So glad we could make your investment refinance as simple as possible. Let us know if there is anything else we can help you with. ~ Chas

See all Tic:Toc Home Loans reviews

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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