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Tic: Toc P&I Live-in Home Loan Variable 3.27% (3.28% CR) (Optional Offset $10/M) + $1000 Cashback (UPDATED)

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Tic: Toc P&I Live-in Home Loan Variable 3.27% (3.28% CR) (Optional Offset $10/M) + $1000 Cashback (UPDATED)
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OldBugger on 08/05/2019 - 22:38 tictochomeloans.com (1053 clicks)
Last edited 14/06/2019 - 14:47 by 1 other user

Update: Variable rate now dropped 0.2% to 3.27% (new and existing)

$1000 cashback offer.
$1000 cash to customers when they settle any Tic:Toc home loan (regardless of whether it's variable, fixed, live-in, investment). $1000 cash available per loan and is payable to the customer within 45 days of settlement.

Loan Features

Max LVR: 80%.
Min/Max Loan: $50k/$2mill.
Repayment type and frequency: Monthly, weekly or fortnightly payments and unlimited additional repayments.
Free redraws.
Offset account: Optional 100% offset account for $10 month.
No Upfront or Ongoing Fees: aside from a fee for the optional offset account, the loan has no application fees, ongoing fees or settlement fees. Tic:Toc will also provide a free valuation.
Discharge fee: $325
Application. The entire Tic:Toc application process is online.

Tic:Toc is backed by the Adelaide and Bendigo Bank.

Financial Home Loan Loan Refinance

Related Stores

tictochomeloans.com
tictochomeloans.com

closed Comments

  • airball on 08/05/2019 - 22:58
    +3

    Anyone have any experience with these guys? Have their variable rates stayed in line with market rate increases/decreases?

  • MuddyClear on 08/05/2019 - 23:15

    I will use this to negotiate a better deal with my big 4 bank

    • xdivino on 08/05/2019 - 23:19

      Glhf

    • OldBugger on 08/05/2019 - 23:21
      +1

      Good luck. I failed trying with NAB this week.

      • Makaveli99 on 09/05/2019 - 01:01

        Yea same few months ago. Stuff NAB

        • movieman on 20/05/2019 - 19:38

          Also failed with Suncorp…

  • leeroys_dad on 09/05/2019 - 03:48

    Any ideas on how many splits are possible?

  • glengood on 09/05/2019 - 07:21

    Hit or miss?

  • Trojan on 09/05/2019 - 09:22

    Loan has to be approved by 31 May to receive the $1000. This sounds a bit risky as the lender could easily delay approval till 1 June

    • OldBugger on 09/05/2019 - 09:38

      True. Although it was extended from end of April to end of May, and they state it should take a week max (plus a couple of days of your application goes to a credit assessor) which seems a bit short, I'd definitely agree there is a risk.

    • kingyone on 12/05/2019 - 12:03

      Just been through the process. Loan approval took a week. As long as you you provide all details in a timely fashion, It is achievable.
      Also, it is approval of the loan, not settlement and no requirement to actually go with them

  • GoldenDragon888 on 09/05/2019 - 12:19

    It’s a great rate for a home loan with offset.

    Unfortunately the need for a split loan is why I am still with CBA 3.92%

    • MuddyClear on 14/05/2019 - 22:37

      How big is your loan with cba?

      • GoldenDragon888 on 15/05/2019 - 14:13

        Under 300k. I needed a split for tax reasons. They allow small splits like 40k and under.

  • movieman on 09/05/2019 - 12:49

    How strict is Investment loan Vs home loan?

    Do they mail all documents?

    • kingyone on 12/05/2019 - 12:04

      Everything is online.
      You access your documents through their portal and have to print the documents and express post back back - this was only the painful/non online part

  • thydzik on 14/05/2019 - 12:42
    +1

    managed to sign my sister up and got approved pretty quickly.

    • OldBugger on 14/05/2019 - 13:50

      Thanks for the feedback

  • MuddyClear on 17/05/2019 - 09:57

    Does this work for refinancing an existing loan with a different bank?

    • OldBugger on 17/05/2019 - 09:59

      Yes. Refinance or new loans

  • Seedy seed on 20/05/2019 - 19:45

    With tictoc for last 11 months, after 3-4 months rate went up, they then offered me to swap to 3 years fixed at a lower rate then the new rate id been put on.

    Adelaid bank will be who you deal with and they have been great so far.

  • Lugo on 25/05/2019 - 11:26

    Look like the $1000 Cashback has been pulled from there website.

    • OldBugger on 25/05/2019 - 12:19

      They said this is because new applicants may not likely have their application approved in time. Still valid till the 31st though.

  • OldBugger on 03/06/2019 - 10:45

    Offer now extended to mid June

  • glengood on 05/06/2019 - 11:36
    +2

    Hoping they will pass on the rate cut, but no word so far

    • OldBugger on 05/06/2019 - 14:19

      I've got mine approved (cashback locked in) but just sitting on it for now to see if anything else comes along.

      • kingyone on 05/06/2019 - 15:11

        What rate have you got mate?

        • OldBugger on 05/06/2019 - 15:17

          3.47%. Is yours all setup up now? Wondering, do you access your online bank directly through Adelaide Bank? Did you get an offset with a eftpos card?

          • kingyone on 05/06/2019 - 15:33

            @OldBugger: I've been hanging on to see if they drop since the RBA drop so not settled yet and seeing what happens. Some seemly better deals now but this aint bad.
            I was told online banking and details will be with Adelaide/Bendigo.
            I didn't take an offset.

            • OldBugger on 05/06/2019 - 16:05

              @kingyone: Athena is a good deal but no cashback so even with the lower rate it would take me a few years to break even. I think this will be hard to beat given the cashback, offset and low rate which is still below other lenders who have recently dropped their rates. We'll see though.

              • kingyone on 05/06/2019 - 16:50

                @OldBugger: very true, the cashback helps with the transfer fees and is decent

                Athena give no cashback and you have to pay more fees but i looking at the deals from
                reduceloans 3.19% no cashback
                homestar finance 3.29 with 700 cashback
                Mortgage house 3.29 with some cashback dep on situation with current lender

                interested to see if Adelaide/Bendigo drop and subsequently the deal with TicToc will be sweeter

                • OldBugger on 05/06/2019 - 17:16
                  +1

                  @kingyone: I think the biggest potential plus of TicToc is the link with Bendigo/Adelaide Bank. The offset account can be accessed by the eftpos card at any Bendigo, Suncorp and Adelaide bank for free. I'm not 100% sure if I can walk into my local Bendigo and access my account from there, say to grab a bank cheque. However by the looks of the product guide, I can.

                  Athena on the other hand is backed by the Macquarie Bank, Hostplus, Square Peg, AirTree and Apex which doesn't help me in my area. But they do have good fees by the look of it and no discharge fee which is a first and makes refinancing out easy.

                  • kingyone on 05/06/2019 - 21:24

                    @OldBugger: yeah, it is defo a plus!

                    I'm not getting the offset, i dont intend to turn the property into an investment and i've got a SunCorp Options account to use for the payments as well as another account for bank cheques etc.

                    Athena are definitely shaking it up with their offering, not having to wait to see if they pass on the rate cut is a big deal!
                    The fees aren't bad but the others pay the valuation, settlement for you… with the cashback, it's a good deal

                • makeahit on 06/06/2019 - 22:53
                  +1

                  @kingyone: Athena - 3.34%, no cashback, no application/settlement fees, no discharge fee
                  ReduceLoans - 3.19%, no cashback, no application/settlement fees, $895 discharge fee
                  Homestar - 3.29%, $700 cashback, there are application/settlement fees, $500+ discharge fee

                  I think Homestar $700 cashback will just cover the upfront fees. I think discharge fees should be into your consideration.

                  • kingyone on 06/06/2019 - 23:14

                    @makeahit: Wow - those discharge fees are criminal! I was trying to find them but it couldn't find easily when i looked initially.

                    I definitely consider at discharge fees - these are awful, thanks for sharing!

                    Seems Athena have changed their fees - there was a valuation fee when they first came out plus other 3rd party fees - i went through the application process with them and had this included as part of the initial docs.

                  • Skurfer on 08/06/2019 - 10:22
                    +1

                    @makeahit: Tic Toc has a $325 discharge fee on their loans. I could not find it anywhere on the website and had to contact them to get it. They still could not provide me any documentation to list their fees and charges other than what was on the website. A little concerning to me.

                    But I am still considering them seeing as it is a $395 discharge from my current loan and a $325 discharge from Tic Toc if I want to move again so with the $1000 cash back I would still be in front. Might have missed the boat to get the application approved before the cut off date for the cashback. Might have to wait to see if it is extended again.

                    EDIT: Just seen on the website the cashback has been extended now with a cut off of 30th June

                    • kingyone on 09/06/2019 - 15:39

                      @Skurfer: For reference - I've paid zero fees to get to approval stage and then the valuation and id checks were no cost either.
                      They provided all upfront info for fees in the doco which were listed as 3rd party fees which includes government and the PEXA fee for settlement - that was all.

                      I have the same thing in mind - move from current lender, get a better deal and see how the cash rate goes. With the 1K this would cover the government fees and discharge fee and some if i want to move again. If i do, hopefully, the next company has a cashback offer also.

                      • OldBugger on 11/06/2019 - 20:52

                        @kingyone: Any movement, king? I can't see anyone doing a similar cashback and I need to make a move by the end of the month

                        • kingyone on 12/06/2019 - 09:34

                          @OldBugger: Hoping for an update soon in relation to the Bendgio drop.
                          If you are not due to settle by the end of the month, you would probably get the new rate (if there is one).

                          Can see anyone else offering the cashback to cover the fees and a decent rate. Had a quick look at Hero broker as they offer .20% back per month. They also had some deal of 2K back with NAB but the rate wasn't that good

    • glengood on 12/06/2019 - 18:21
      +2

      Just received the email from them confirming 0.20% of the cut - effective 28th June

      • kingyone on 12/06/2019 - 20:41

        awesome! Are you a current customer?

        • glengood on 12/06/2019 - 22:02
          +1

          Approved but was holding off on lodging the paperwork to see the cut was passed :)

  • padman on 13/06/2019 - 15:40

    Wow why is live in interest only so much higher than investment interest only - 5.22% vs 3.99%

    • kadaj on 13/06/2019 - 22:42

      yea i was baffled too wtf.

      edit: oh wait IO is always higher than P&I, but the difference is just crazy! 180 basis points.

      Investment IO is very attractive option tho

  • thydzik on 18/06/2019 - 16:40
    +1

    my sisters loan settled few days ago and confirmed rate was reduced to 3.27%

    looks like the cash back was paid on settlement.

  • alishaikh on 25/06/2019 - 10:28

    Does TIC TOC offer house and land separate contracts? for buying land and building on it?

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