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Tic:Toc Home Loans

Tic:Toc Home Loans

4.1 from 268 reviews · View Statistics

Reviews

  • Transparency
    3.2 (6)
  • Customer Service
    3.6 (7)
  • Loan TypeVariable Rate (5)
  • Application Process
    2.2 (6)
  • Timeliness
    2.8 (5)
  • Loan used for
  • Loan Term20 years
  • Online Tools
    1.7 (3)
Previous
Next

Orig rate was good, rate creep, run around= leave

published
Transparency
Customer Service
Application Process
Incentivised ReviewNo
Loan TypeVariable Rate
See all answers
3 comments
Tic:Toc
Bailey U.Tic:Toc
Thanks
Thanks
Tic:Toc
Bailey U.Tic:Toc
Joy

JoyMelbourne

  • 5 reviews
  • 4 likes

Did not pass on the RBA rate cut.

published

Two continuous RBA rate cuts was not passed on to the existing customers. When contacted I was told that their funder decided not to pass on the recent RBA cut. This was the reply for the previous rate cut as well.

Very disappointing for otherwise a great home loan experts. I am planning to move on to other lenders where they offer 0.65% lower than I have now with TicToc.

Customer Service
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forFirst Home
See all answers
2 comments
Tic:Toc
Bailey U.Tic:Toc
Joy
Joy
Dereck

DereckPerth, WA

  • 17 reviews
  • 5 likes
  • Verified customer

Just another bunch of check box ticker's

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan used forFirst Home
See all answers
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Sam

SamPerth, WA

Disappointing

published

We were rejected for our home loan due to the unpublished reason of having more than one dwelling on the title (there is a granny flat as well as established home). Receiving a generic email not detailing specific reasons is very distressing and as others have stated, we would not have applied if this question was a simple one answered at the beginning of our application. We now have to go through an extra process of having this check removed from our record as this may impact future applications. On the plus side, the online chat people are awesome and incredibly helpful and the response time was very good but I would not recommend TicToc if you have anything unusual about your circumstance or property.

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

Less than impressed with automation and property valuation

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
See all answers
1 comment
Tic:Toc
Bailey U.Tic:Toc
Lisa C

Lisa C

  • 5 reviews
  • 2 likes

Not for small business owners

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

A jokeHunter Region, NSW

What a jjoke

published

I had to ring them after waiting 2 weeks. I made $100,000 last year my home is valued at $550,000 tried to borrow $350,000 with a good credit history they said no I do not earn enough what a joke give them a miss

Incentivised ReviewNo
Loan used forRefinancing
1 comment
Tic:Toc
Bailey U.Tic:Toc
Sleaf1

Sleaf1Brisbane

  • 23 reviews
  • 5 likes

Disappointed.

published

Applied online. Had to re-supply same documents again, and explain my spending in great detail in an email. My application was rejected, before they even read my email, without a specific explanation. I then applied through Lendi. New mortgage was not only quickly accepted, but got lower rate. Experience with Lendi totally positive. I think Tic-Toc only lend if you have heaps of money. I could easily manage repayments etc, but rejected without specific explanation.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forRefinancing
See all answers
3 comments
Tic:Toc
Bailey U.Tic:Toc
Sleaf1
Sleaf1
Tic:Toc
Bailey U.Tic:Toc
Dave

DaveCasey 2913, ACT

  • 2 reviews

Disappointed

published

I live in Canberra currently paying off a mortgage on a $800,000 house at 4.62%, P&I, i owe $385,000, about 50% equity. I saw Tic Tocs low rate which my current lender could not match, so i thought why not refinance. I have an A1 credit rating and my wife and i have a combined salary income of $168,000 a year. Sadly i was declined by Tic Toc because they believe i cannot service the loan repayments! I am currently paying $2300/month repayments and with the lower rate it would be about $1850 roughly. I was advised that i spend too much of my discretionary money to fit into their formula.

1 comment
Tic:Toc
Charles M.Tic:Toc
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Patty

PattyNorthern Region, NSW

  • 10 reviews
  • 3 likes

All work and loan denied

published

All work and no loan. Waste of time. Loan declined after hours of making an application (about 2hrs before uploading paperwork so would be more time - not 20 min like stated) No reason given and no opportunity to discuss the issue.

Incentivised ReviewNo
1 comment
Tic:Toc
Charles M.Tic:Toc

Thanks for taking the time to review, Paul2U. We're sorry you haven't had a good experience with Tic:Toc. We're not sure what went wrong, but if you send us a private message with your details, we can look into it for you. ~ Laura

Lan

Lan

  • 3 reviews
  • 3 likes

OMG where do I start

published

They said 20 mins for their application process. It is such a lie. They would take 2 months to process your application which resulted my purchase contract is being cancelled.
Avoid them at any cost.

1 comment
Tic:Toc
Charles M.Tic:Toc

Thanks for taking the time to review, Unhappy customer.
We're not sure what went wrong but would love to understand why and how.
If you could send us a private message with some details, we certainly look into it for you. ~ 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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