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
Quick and professional application process
We submitted the application on 23/12, approved on 4/1/21! Stephen Cooper assessed our application on 24/12. All questions were thoroughly answered. Very positive and relaxing experience which made the process a bit less stressful for us.
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!!
Fast turnaround and excellent service
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!
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.
Poor support from Adelaide and Bendigo Bank
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.
Good service and explained in simple terms
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.
- Verified customer
Avoid like the 2019 COVID plague
Applied for an owner occupier joint loan because of the good advertised rate and hassle free process.
Application process was easy, but unfortunately that was the only decent thing about the whole process. It was a nightmare after that. I couldn't edit the form, and then they were too backed up due to COVID-19 and couldn't call me for weeks.
Suddenly one day they decide to wake up and do a credit check for an application I made mistakes on and couldn't edit. They also forced me to name a property that I was interested in and then told me the...y're rejecting the loan because of the one of the following reasons: - Your property not meeting our lending requirements (e.g. your property size is too small) - Your ability to meet your home loan repayments - Your credit history, which we obtained from Equifax and Illion. If the property was too small for them, why the hell couldn't they have told me that before I copped a credit check? Also who applies for a pre-approval before knowing which property they want to buy? Moronic.
I had been recommended TicToc Home Loans through a friend who was really happy with their service. I contacted them when I wanted to refinance and they did not let me down. The whole experience was easy and quick. My contact was Ryan who was professional, patient and extremely helpful throughout the process. 100% Recommendation from me !
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.
- Verified customer
Great rates but average application process
Customer service was great but felt let down by their application/approval process. Had to manually submit over 10 different documents despite their claims of "saving time" and "automated approvals".
The point that frustrated us the most was being asked repeatedly to submit my wife's credit card statement when she was locked out of her internet banking and neither could we request a password reset as the bank's offshore team in Manila was closed due to COVID restrictions.
You do have to wonder why we had to answer approximately 10 different queries when our LVR was close to 30% with a combined household income of $200k+.
- 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!
The customer service, promptness and attention to detail is amazing with Tic:Toc. We spoke to Ryan throughout the process and he was extremely helpful throughout the process even understanding complexities with our international transfers. He guided us with exact information through the process and was really prompt in ensuring we had all updates on where our application was. Highly recommend!
Good home loan, but not for everyone
I was looking to refinance my home loan for a better fixed rate as my bank wouldn't negotiate a better deal for me. Tictoc online application was easy to fill in and easy to navigate around. The information that they needed was easy to obtain and the outcome of my loan approval was given to me within a very short period of time. Unfortunately I was not able to refinance with them due to Tictoc not accepting my family tax benefit as 100% to be included in my income due to the age of my children which was unfortunate because they offer such a gre...at rate and no ongoing fees ect ect. It wasn't their fault, just company policy and in no way a bad reflection upon the company. Many banks and loans don't accept the full family assistance amounts to be included in your loan applications these days. But just so you know that if you are planning to apply with them and use your family tax benefit as a part of your income, then you may come across the same problem.
Fantastic experience from Start to finish
Ryan and the team were fabulous from start to finish. I was able to escalate for faster processing since I had an imminent settlement date. They had the 100% cash offset account and had fabulous rates for investment interest only loans. I was not auto approved but Ryan reached out and we corresponded via email for further detail then I was approved. The hand over to Adelaide Banks conveyancing team LeadPoint was great and its hard to believe each contact was in a different state but it was all seamless and you could always reach a human during ...business hours if needed. Settlement went fine and everything was in plain language. If I needed clarification I just picked up the phone. The only clunky part is that Adelaide Banks online banking is accessed via TicToc and theres no app. We shall see if the monthly sweep goes through okay as its almost a month since settlement.
Excellent service and communication
We are re-financing two investment loans, and our existing loan structure and investment properties are complex. Ryan had his hands full in assisting us, but he did a great job in communicating with us regarding any issues and guiding us through the whole process. As we have already provided all the documentation required for our first loan application, all we had to do for the second was to complete the application online. Loan applications made simple!
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.
The approval process with Tic-Toc was straight forward and pain free. Our assessor (Ryan) was a pleasure to deal with and would recommend other people looking for a low rate and great service consider Tic-Toc.
- Verified customer
Don’t waste your time. Go elsewhere
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.
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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