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Tic:Toc Home Loans

Tic:Toc Home Loans

4.1 from 268 reviews · View Statistics

Reviews

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Poor customer service and you unable to talk to a manager for further assistance. Disappointing!

published

Customer service was poor and that has certainly created a negative impression.
No timeline or feedback provided on application process. I had to call for an update and still unhelpful.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
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1 comment
Tic:Toc
Bailey U.Tic:Toc
BAC

BACSydney

  • 3 reviews
  • 3 likes

Do not waste your time

published

Recommended by a friend, tried to refinance my existing home lone with tic toc which was an absolute mistake.
It’s been 5 weeks since I applied awaiting for a simple yes or no answer.

Rude and unprofessional with no costumer service skills

Avoid it

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
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1 comment
Tic:Toc
Bailey U.Tic:Toc
Jake

JakePERTH

  • 3 reviews
  • 1 like

Turnaround time ridiculous

published

Just completed an online application (where it actually states 'final decision process'). On completion, it said I have to call them. I placed the call and they said someone will call me back with turnaround time 22 business days!!!!!! Then settelment takes up to 6 weeks. So from application almost 3 months. How does this place get a good review???

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
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1 comment
Tic:Toc
Bailey U.Tic:Toc
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Amlan Rudra

Amlan RudraSouth East Queensland, QLD

Very bad

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
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1 comment
Tic:Toc
Caitlyn S.Tic:Toc
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
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2 comments
Tic:Toc
Bailey U.Tic:Toc
Matt
Matt

Inefficient service, had to go elsewhere

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forFirst Home
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1 comment
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
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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
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4 comments
Tic:Toc
Bailey U.Tic:Toc
Mando
Mando
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
Home Loans

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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
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1 comment
Tic:Toc
Bailey U.Tic:Toc
A Roy

A RoySydney

  • 5 reviews
  • 11 likes
  • Verified customer

"All that glitters is not gold"

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan used forFirst Home
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2 comments
Tic:Toc
Bailey U.Tic:Toc
A Roy
A Roy

Thank you Bailey. Tictoc is probably "best" if someone has more than 20% deposit, in my view. I know you are very busy. I do not want to waste any more of your time. Please help others. G'd day.

Jazam

JazamVictoria

  • 2 reviews
  • 3 likes

Horrendous application time and a monkey to assess the loan

published

I am finance manager at a car dealership and have been in the industry for 4 years and i would not recommend tic toc to my worst enemy . I had to follow up everytime i needed and update , loan was not approved and i still dont know the exact reason. got pre approval with other bank .im not sure if tic tok doesnt have the best results for commision based income or its the worst bank ever. They advertise cheap rates so i applied and all i now have is an inqury on my credit file.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateJuly 2020
Loan used forFirst Home
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1 comment
Tic:Toc
Bailey U.Tic:Toc
jrob

jrobGreater Melbourne (Inner), VIC

Risky option that could end up costing you more

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forRefinancing
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1 comment
Tic:Toc
Bailey U.Tic:Toc
Kailash C

Kailash CSydney Surrounds, NSW

  • Verified customer

Avoid like the 2019 COVID plague

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeFixed Rate
Loan used forFirst Home
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1 comment
Tic:Toc
Bailey U.Tic:Toc

Do not believe any of the fake good reviews

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeFixed Rate
Loan used forRefinancing
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1 comment
Tic:Toc
Bailey U.Tic:Toc
Home Loans

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NOT looking after existing customers

published

I am an existing home loan (variable rate) customer with Tic:Toc. After seeing a lower rate advertised on the website last month, I enquired why my variable interest rate has not been reduced. I did not hear for 2 weeks and had to call to follow up my enquiry, only to be told that the advertised rate is only for new customers. Hence as an existing customer who is already with Tic:Toc I am unable to get the same lower rate. This is very disappointing and I will be looking to refinance out. Potential applicants please be wary of the "variable" rate that is not quite as variable as you might think.

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

Waste of my time to apply for investment loan.

published

Applied online, submitted documents and required human intervention. Due to a back log, it took a few more business days to clear. Got approved, organised Zip ID only to find out loan is now knock back to due "substantial benefit" which I never heard off. Wish they do preliminary checks first, now I copped a credit check on my record, wasted time while I could have gone to a mortgage broker.

Incentivised ReviewNo
1 comment
Tic:Toc
Bailey U.Tic:Toc
Saskia Lacey

Saskia LaceySouth East Queensland, QLD

  • 2 reviews

No common sense. Backwards thinking

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan used forSecond Home
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2 comments
Tic:Toc
Bailey U.Tic:Toc
Saskia Lacey
Saskia Lacey

It seems one thing you do not use when assessing applications in common sense.

Dustin H.

Dustin H.South East Queensland, QLD

Very Slow. Very Incompetent. False Advertising

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan used forSecond Home
See all answers
2 comments
Tic:Toc
Bailey U.Tic:Toc
Dustin H.
Dustin H.
Martin

MartinGreater Melbourne (Inner), VIC

Tictoc refinance, very picky

published

Looked at tictoc for refinancing. Went through online questions without a hassle.

Received a declined response from a human checker. Basically they were questioning where my savings went. Also said we had too many overdrawn fees on cc and a everyday account (even though they were small amounts and paid a day after going over). Overall it seems they are very picky.

I guess ill stay with a big bank who can handle our finances.

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

Hi Martin, thanks for your feedback. We're sorry to hear about your experience. We're not quite sure what has happened and would like to look into it for you. Please get in touch with us on 1300 842 405, or through our webchat. Thanks ~ Bailey

Page 1 of 3
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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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