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Tic:Toc Home Loans
Robert Hamilton Greater Melbourne (Metropolitan), VIC
High tech home loan.
Pretty good process. Smart use of technology.
Happy with procedures.
Sometimes phone call was hard to hear due to bandwidth problems at Tic Toc end.
Good rate, would have liked to split loan.
1 comment
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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.
1 comment
Bailey U.Tic:Toc
Hi Simon, thanks for taking the time to provide your feedback. We're glad to hear Rachel was able to make your home loan experience so seamless! We'll share your kind words with her and the team. Plea... Read more
se let us know should you have any questions, and congratulations on your first home! Welcome to Tic:Toc. ~ BaileySimilar opinion? Write a review on ProductReview.com.au!
joeSouthwest, VIC
- 4 reviews
- 4 likes
Well well,
good loan company i only issue i have with them is that they use the old school eftpos card for the offset account which you cant pay for anythin over the phone with it, use the paywave/paypass function to protect yourself from coronavirus that might be lurking on the eftpos machine... if they changed the card issue they have , i would give them 5 stars. until then... they get 4 stars.
1 comment
Bailey U.Tic:Toc
Hi Joe, thanks for taking the time to provide your feedback. We completely agree that the current debit card we're issuing leaves a lot to be desired in terms of functionality. We're actively working ... Read more
with our funder to explore additional features we can add to the card, such as PayWave and online debit abilities. Please reach out should you have any other questions about your home loan, and thanks again for your feedback. ~ BaileySimilar opinion? Write a review on ProductReview.com.au!
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TroySouth East Queensland, QLD
- 5 reviews
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...Read more
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.1 comment
Bailey U.Tic:Toc
Hi Troy, thanks for taking the time to provide your feedback. We're glad to hear it was all smooth sailing - that is, right up until the family tax benefit issue. Unfortunately, we need to take income... Read more
streams into account differently, depending on their type, for a range of reasons in accordance with our credit policy. We're sorry we weren't able to communicate this to you earlier in the application, and hope we haven't caused too much inconvenience. If you have any questions around reapplying in the future, please let us know by reaching out to us on 1300 842 405 or through our webchat. Thanks again for your feedback! ~ BaileySimilar opinion? Write a review on ProductReview.com.au!
camila c.Sydney, NSW
- 2 reviews
Great credit assessor experience!
Ryan has provided me an excellent service! He was very thorough and straight forward with the sets of questions he asked so it wasn’t hard to provide him the information he needed in order to assess my financial capacity. The only downside that I’ve probably encountered is the manual handling of loan documents it still needs to be posted to their Legal entity. I hope this will be digitalised soon especially now that we are facing an unprecedented situation now where less contact is necessary.
1 comment
Bailey U.Tic:Toc
Hi Camila, we're so glad to hear about your great experience with Ryan! We absolutely agree about the hard copy loan documents. Unfortunately, legislation currently requires a 'wet signature' in a cou... Read more
ple of states for home loan documents to become legally binding. We have seen good progress in the legislation around the digitisation of home loan contracts, and are working to make this part of the process fully digital too. Appreciate this feedback!! Thanks again for your feedback, and welcome to Tic:Toc! ~ BaileySimilar opinion? Write a review on ProductReview.com.au!
Ben
- 3 reviews
- 4 likes
Customer service A+
Good product, but Ryan was excellent to deal with throughout the application process. His communication and prompt action was great once I made it to the head of the long queue. Customer service is 2nd to none. I havn't experienced a quailty customer service rep like this for 10 or 15 years. There are some unexpected costs that you are presented with at the time of acceptance, so don't be to suprised.
1 comment
Bailey U.Tic:Toc
Hi Ben, thanks for your feedback. We're glad to hear you had such excellent service from Ryan - we'll pass on your kind words to him and our team.
We don't charge any lender fees, so we hope the onl... Read more
y fees you came across were government or third party charges. You can see a full breakdown of refinancing costs here: https://www.tictochomeloans.com/home-loan-guide/what-it-costs-to-refinance-your-home-loan/Similar opinion? Write a review on ProductReview.com.au!
AndrewSouth East Queensland, QLD
Basic - cheap as chips loans.
We settled on 2 mortgages with Tic Toc last month (1 X owner occupied and 1 X investment property).
We were previously with one of the big 4 and just got sick of paying high interest rates and package fees and getting bad service in return. Tic Toc offers basic low risk loans at highly competitive rates. If you are self employed, don't have adequate equity in your property or your financial situation is not clear cut then Tic Toc will probably knock you back - that's just their business model.
The whole application process was quite smooth - ...Read more
its not same day approval but that's fine - i am more concerned about saving money. One property required an onsite property valuation and the other i believe they did a drive by valuation. The settlement process also went fairly smoothly. The interest rates dropped after we had been approved but before we settled, Tic Toc automatically passed along the full advertised rate to us on settlement - which was pleasing (2.84% OO & 3.2% INV) Their internet banking is about 20 year behind the big 4, but it does everything i need it to do and i would rather not pay thousands of dollars more in interest each year to get flashier internet banking. All in all a good experience and well worth making the switch to save thousands a year.1 comment
Bailey U.Tic:Toc
Hi Andrew, thanks so much for your detailed feedback! We're glad to read you were able to get a lower rate and save on your repayments. We'll take your comments about internet banking onboard - we're ... Read more
always looking for ways to improve our functionalities. Please reach out should you need anything, and welcome to Tic:Toc! ~ BaileySimilar opinion? Write a review on ProductReview.com.au!
JanePerth, WA
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.
1 comment
Bailey U.Tic:Toc
Hi Jane, thanks for taking the time to give your feedback. We're sorry we didn't get to tell you about our $325 discharge fee - but we're glad to hear it was outlined clearly in your loan docs. We'll ... Read more
pass on your kind words to Aaron and our team. Please let us know if you have any queries - we're available 7 days on 1300 842 405 and on webchat. Thanks again, and welcome to Tic:Toc! ~ BaileySimilar opinion? Write a review on ProductReview.com.au!
Satisfied customer
Very happy with the process. There were small hiccups as somehow my assessor could not locate the linked account and that delayed a process a bit. Overall I am happy with the services provided highly recommended!
1 comment
Bailey U.Tic:Toc
Hi Balaram, thanks for taking the time to provide your feedback and recommendation! We're glad to hear our Credit Assessor was able to sort out the issue with your linked account and hope everything else went as planned. Welcome to Tic:Toc! ~ Bailey
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Ryan was very easy to deal with
Ryan was approachable, very responsive, easy to deal with and went the extra mile to get us approved as soon as possible. It was a pleasure to deal with him.
1 comment
Bailey U.Tic:Toc
Thanks for your feedback Nat. Great to hear Ryan was able to get you approved ASAP - we'll pass along your kind words to him and the team. Please let us know if you have any questions, and welcome to Tic:Toc! ~ Bailey
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LMYMELBOURNE
- 4 reviews
- 2 likes
Positive Overall
Overall, my feedback is that they've done well with the home loan.
The positives: They provide competitive rates and have remained fair to their existing customers with each rate change. They have a good loan application process set up, and they keep you updated until settlement. Their marketing and media teams do a good job with customer communication. The availability of someone to support you through chat on their website is fantastic. The reps from Adelaide Bank I've dealt with since settlement were great. I don't feel I've given up much i...Read more
n terms of customer support and features to get a cheaper rate with this lender and its partner bank. The negatives: I'm not very impressed by the customer service from TicToc. As another reviewer mentioned on TrustPilot, they don't seem very keen for your business. I found the credit assessor's tone a little condescending to begin with. The same with their call centre staff, impatient and rude. The announcements on rate drops following RBA's announcements do come a little late compared to other lenders. Their fund provider (Adelaide Bank) doesn't support PayID, so you don't get the instant funds transfer feature that most other large banks have. The loan documentation is a lot to get through on your own, and it isn't very clear who provides some of the documents required at settlement. All in all, it's been positive. The main negative area was their customer service. Dealing directly with Adelaide Bank's reps is so much better. Tic:toc rep sounded young, impatient and know it all, whereas Adelaide Bank is more traditional, patient and helpful.2 comments
Bailey U.Tic:Toc
Hi LMY, we really appreciate your feedback – we’ve passed your comments onto our customer team and will take it on board.
We're so glad to hear you're enjoying our great rates, the ease of our appli... Read more
cation process, and the communication our marketing team provides (we're blushing).Thank you Bailey. You're a shining example of excellent customer service. Perhaps everyone else can learn something from you. =) Cheers.
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More than satisfied
Customer experience was more than satisfactory. My assessor had a can do attitude which helped us get to where we needed to be in the shortest time possible. He was acccessible and helpful at all times. The rate is competitive when compared with other lenders, which is what attracted me in the first instance.
1 comment
Bailey U.Tic:Toc
Hi Simon, we're glad to hear you were assessed in record time and were able to get a great new rate! Please reach out if you had any queries, and welcome to Tic:Toc. ~Bailey
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Philip E.Central, SA
Pain free refinancing well almost
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
1 comment
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
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Not perfect or what I expected, but overall a positive experience.
Tic:Toc are new to the market. While they promise a 22 minute* approval, if your details are slightly out of the ordinary expect to be emailing back and forth with follow-up questions until they complete their assessment. Credit to Tyler, his responses were helpful and he looked for the most convenient ways to work through the credit requirements. Another thing a bit out of the ordinary - Tic:Toc has no pre-approval process, which created some nervousness for us as the vendor of our property required us to waive the cooling off period. Everythi...Read more
ng worked out for us and the approval came through, but we might have had to fall back on our pre-approval from another lender if this didn't work out there way we were hoping we would. In summary: happy with how things went, and think that Tyler provided good customer service. I think Tic:Toc needs to carefully monitor customer comments on product features and on-boarding process to ensure they are making things as simple for customers as possible.1 comment
Charles M.Tic:Toc
Thanks for the great feedback, Ben. We are always looking to improve, and this will certainly help us and our continual review and improvement of our processes. Please reach out to us if there is anything else you would like us to follow up. ~ Chas
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clemmoSouth East Queensland, QLD
Easy Online Process, Great Service, Best Interest Rates!
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!
1 comment
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
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- Verified customer
Great Australian company with competitive rates
Aaron was very friendly over the phone and easy to communicate with. I had a few issues logging in to the website but this was due to the type of web browser I was using. Highly recommend.
1 comment
Charles M.Tic:Toc
Hi Sally, thanks for taking the time to review us. Aaron and the rest of the Tic:Toc crew really appreciate your feedback and rating of us. Thanks for letting us know about the web browser issues, we ... Read more
have escalated those to prevent this issue in future. If there is anything further we can help you with; please feel free to reach out to Aaron and the team. Welcome to Tic:Toc. ~ ChasSimilar opinion? Write a review on ProductReview.com.au!
SimonPerth
Fast and efficient
I decided to go with Tic:Toc due to their low rate of 3.58% which was far lower than any of the big banks and lower than most other lenders for the features offered. Having full approval rather than just pre-approval was also a big drawcard.
I wasn’t 100% sold on the whole entering my bank details technology thing so I went with a more traditional pdf upload approach and still had my application approved within a day despite it being on a weekend and between Christmas and new years (admittedly it probably helps that my financial situation i...Read more
s very straightforward - single, no dependents, good savings, no debts etc). Ryan Darling was extremely helpful, efficient and punctual at processing the info I sent and at answering any questions I had and I cannot fault his service. All up a quick and totally painless experience for me and I would definitely recommend Tic:Toc to others based on my experience so far.1 comment
Charles M.Tic:Toc
Hi Simon, welcome to Tic:Toc! We are so glad to hear you had a fantastic experience with us. I will pass on your kind words to Ryan and the team. Should you need anything further, please let us know. ~ Bailey
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Simple
The process was easier and simpler than I expected and everyone had the answers to my questions even when I asked twice and it was the same answer. If I had looked the answer was always in the emails.
1 comment
Charles M.Tic:Toc
Hi Bob,
Thanks for your review. We appreciate you taking the time to rate and comment on our business. We are really happy that our messages were consistent.
If there is anything you need us to help y... Read more
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Questions & Answers
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
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
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
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
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
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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Bailey U.Tic:Toc
Hi Robert, thanks for your feedback. We're glad to hear you liked our digital approach to home loans. Thanks for letting us know about the phone line issue, I will report this with our IT team so they... Read more
can investigate. We'll also take your point about split loans on board — we're always looking for ways to improve our customer experience by offering the right product features. Thanks again for your feedback, and welcome to Tic:Toc! ~ Bailey