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2.19% p.a. Variable P&I Investment Home Loan (2.20% p.a. CR) (90% LVR, $10/M Offset @ 2.34% p.a. CR) @ Tic:Toc Home Loans

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2.19% p.a. Variable P&I Investment Home Loan (2.20% p.a. CR) (90% LVR, $10/M Offset @ 2.34% p.a. CR) @ Tic:Toc Home Loans
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MarketingLtictochomeloans on 11/05/2021 - 10:58 tictoc.com.au (268 clicks)
Last edited 11/05/2021 - 14:33 by 1 other user

Tic:Toc have lowered home loan rates for new customers across a number of products, including their Variable P&I Investment home loan. Get Australia's lowest fee-free Investment P&I rate.

Loan features

  • Maximum 90% LVR
  • No upfront or ongoing fees
  • Unlimited additional repayments
  • Free online redraw
  • Optional offset available for $10/month
  • Up to 30 years loan term
  • Fully online application
  • Bank-backed and funded by Bendigo and Adelaide Bank
Eligibility
  • Must be buying or refinancing an established property (not off-the-plan or under construction)
  • Property must be located in a capital city or major regional centre
  • Minimum 10% deposit or equity, plus savings to cover government/third party fees such as stamp duty. Lenders' Mortgage Insurance (LMI) payable with less than 20% deposit
  • Loan amount between $50k and $2m
  • Employed — either PAYG, or self-employed for at least 2 years
  • ID — passport, driver's licence, or Medicare card
  • Open to Australian citizens or permanent residents who live in Australia
Other home loans

Looking for our Live-in home loan? Tic:Toc have lowered rates for a number of products, including our Variable P&I Live-in home loan, which has a new eye-watering rate of 2.04%p.a. Variable P&I Live-in Home Loan (2.05%p.a. CR). View all of our home loans.

Offset account

Get an offset account with your home loan for $10/month. When you choose an offset account for our Variable P&I Investment Home Loan, the comparison rate will be 2.34%p.a.

Our 100% offset accounts are optional and available with all of our home loans (even fixed rate home loans). They fall under the ADI licence of Bendigo and Adelaide Bank and are covered by the Financial Claims Scheme. You can find more detail here.

Legal things about our rates

They're current as of 11 May 2021; available to all home loans approved on or after this date, and they can change. Our comparison rates are calculated for a $150,000 loan over 25 years. They factor in our fees associated with applying for the loan; our ongoing fees and our fees associated with leaving the loan. Our fixed loans roll to a variable principal and interest rate at the end of the fixed term. If the interest only period is not specified, the comparison rate is calculated on a one year period.

WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Tic:Toc Home Loans. Australian credit licence 496431. ABN 41 605 696 544.

Financial Home Loan Investment Loan Loan

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closed Comments

  • vash5 on 11/05/2021 - 11:05
    +1

    Hey OP what's the average approval time from lodging an application? Also, same question for pre-approval.

    • Marketingtictochomeloans @ Tic:Toc Home Loans on 11/05/2021 - 11:49

      Hey Vash. Generally we’re pretty quick, but the time it takes us to get to your application can change depending on how many applications we’re currently receiving and the complexity of your application. Right now, it's taking our credit assessors about one business day to begin their assessment. However, with our new lower rates, we expect this timeframe to increase.

      Once we pick up your application for assessment, we start working towards approval. Things will move really fast here. If you’re ready and can respond quickly to requests from our Credit Assessors, you and your application will be fully assessed in no time.

      You can read a little more about what to expect here.

      As for pre-approval, we offer conditional approval (subject to property). This means you can submit your application without a specific address (just a suburb instead), and we can give you conditional approval for 60 days. Once you've found the property you want to purchase, just provide us with the address and we'll run our final check on the property to give you full approval (if everything else checks out of course).

      You can read more about our conditional approval here.

      Hope this helps. Please let me know if you have any other questions :) ~ Bailey

      • Bob81 on 11/05/2021 - 13:51
        +3

        Wow! That was a really long way not to answer the question. Please give AVERAGE time.

  • FrugalFrella on 11/05/2021 - 11:07

    Am I being silly or is the new rate 2.04/2.05CR rather than 2.19 that's in your title? https://tictoc.com.au/home-loans

    I've been on 2.19 with you guys for a few months now so if 2.04 is the new rate I need to get in touch and get that lowered.

    • CachePC on 11/05/2021 - 11:09
      +1

      This one is investment loans

    • Marketingtictochomeloans @ Tic:Toc Home Loans on 11/05/2021 - 11:11

      Hi Gamblors, that's correct. Our new Variable P&I Live-in is 2.04%p.a. with a 2.05%p.a. comparison rate. The rate advertised above (2.19%p.a., 2.20%p.a. CR) is for our Variable P&I Investment home loan.

      Hope that helps. :) ~ Bailey

      • FrugalFrella on 11/05/2021 - 11:13

        Cool thanks :)

        Just shot through an email to get my variable rate adjusted down for my Live-in loan.

        • eowyn on 11/05/2021 - 19:01
          +1

          I hope they're reducing rates for existing loans too

  • Homr on 11/05/2021 - 11:19

    Can I use my 50k super withdrawal on top of this?

    • Marketingtictochomeloans @ Tic:Toc Home Loans on 11/05/2021 - 12:35

      Hey Homr, thanks for your question. I just want to clarify — are you looking to use a 50k super withdrawal as part of your deposit? Unfortunately, we can only accept super funds as part of our validation when they are withdrawn as part of the First Home Super Saver scheme.

      I hope this helps. Please let me know if I can answer any other questions :) ~ Bailey

        • Marketingtictochomeloans @ Tic:Toc Home Loans on 11/05/2021 - 12:57
          +1

          Ah, thanks. Since it's an extension of the First Home Super Saver scheme, funds withdrawn as part of that scheme should be eligible to use as part of our validation. To confirm, I would recommend checking with us directly closer to the government's implementation date and once more details of the extension have been announced. You can chat with our Home Loan Experts on 1300 842 405, or through our Livechat. Thanks ~ Bailey

          • Homr on 11/05/2021 - 13:35

            @tictochomeloans: Thanks Bailey. Perfect opportunity to purchase a property with the current government incentives. $20k super withdrawal from last year and now $50k this year, that's $70k deposit right there. Alot of people takes years to save $70k for a property and now you can get it in under 1 year without much effort.

            • Matt P on 11/05/2021 - 20:47

              @Homr: Well.. you need to have 70k in your super. For someone on ~50k a year that would take a while…

              • Homr on 11/05/2021 - 21:09

                @Matt P: I took 20k out last year, I still have around 50k left so it will work out perfect for me.

  • thibaut on 11/05/2021 - 11:20

    Hello OP, thanks for posting.
    Will this new rate be passed on to existing customers?

    • Marketingtictochomeloans @ Tic:Toc Home Loans on 11/05/2021 - 11:52

      Hi thibaut, thanks for your question.

      This rate is for new customers only. Our customers will have different rates depending on when they joined us. Because of the way our funding works with Bendigo and Adelaide Bank, we can't always offer the latest rate to both new and existing customers. But we don't do introductory rates, so our customers won’t get a rate hike just for the fun of it either. Because of our technology efficiencies, all of our rates are highly competitive. We keep a history of all our variable rates and their movements within the graph in our 'How banks and lenders set their interest rates' article.

      Please let me know if you had any other questions. :) ~ Bailey

  • playmaker on 11/05/2021 - 11:36
    +1

    Current customer - be careful of expect long waits, no response until 4+ weeks despite multiple calls, emails and commitments from credit team. I went to another lender as it was too much hassle for little saving.

    • pennypacker on 11/05/2021 - 12:32

      That wasn't my experience. Our mortgage was approved in a matter of days and well before the solicitor was ready.

  • RubenM on 11/05/2021 - 11:44

    What's your maximum DTI?

    • Marketingtictochomeloans @ Tic:Toc Home Loans on 11/05/2021 - 14:15

      Hi Spludgey — we're sorry, but we can't disclose our Debt-to-Income ratio requirements publicly :( It's part of our credit policy, which we keep confidential to prevent fraud.

      If you're not sure about whether to apply, you can chat with our Home Loan Experts on 1300 842 405, or through our Livechat. Please keep in mind we can't provide financial advice, but we can talk through the application process and try to answer any questions you have. ~ Bailey

      • RubenM on 11/05/2021 - 22:29

        That's a very strange thing to keep secret!
        So I don't know if my loan will be approved when I apply and my loan might be rejected, making it harder to get subsequent loans.
        As someone with a DTI of 7.3, I'll give it a miss, thanks.

  • Homr on 11/05/2021 - 12:47

    It also says "Please note if you add an offset account, your comparison rate will change" What will the new comparison rate be??

    • pennypacker on 11/05/2021 - 12:50

      2.34% CR with offset?

      • Homr on 11/05/2021 - 12:51
        -1

        wtf wow, big difference

        • AssociatedRaffyboi @ Tic:Toc Home Loans on 15/05/2021 - 22:34

          2.34% with offset, so $10 per month over 25 years on the comparison rate = $3000 for the term of the loan included in the comparison rate.

    • Marketingtictochomeloans @ Tic:Toc Home Loans on 11/05/2021 - 12:52

      Our Variable P&I Investment loan with an offset account is 2.19%p.a. with a 2.34%p.a. comparison rate. You can view all of our rates for all of our products here. Cheers ~ Bailey

      • Bob81 on 11/05/2021 - 13:55
        -1

        Bailey, please update you post to show the correct interest rate of 2.34% + $10 per month for the offset account. Thanks.

        • Marketingtictochomeloans @ Tic:Toc Home Loans on 11/05/2021 - 14:35

          Thanks Bob, I have updated the title and the description to clarify. ~ Bailey

        • AssociatedRaffyboi @ Tic:Toc Home Loans on 15/05/2021 - 22:32

          Incorrect Bob! The 2.34% is the comparison rate with offset included, so it already has the $10 per month over 25 years taken into account!

  • temporiser on 11/05/2021 - 13:05

    What is the rate for interest only?

    • Marketingtictochomeloans @ Tic:Toc Home Loans on 11/05/2021 - 14:41

      Hey temporiser, our Variable 1/2/3/4/5 Years IO loans are all 2.84%p.a. with 2.85%p.a. comparison rates. With an offset account, they all have a comparison rate of 2.97%p.a., and they all roll to a 2.84%p.a. variable rate after the interest-only period. You can see all of our home loan rates side-by-side here.

      Just let me know if you have any questions! Thanks ~ Bailey

  • funky on 11/05/2021 - 15:46
    +3

    Any reason this isn't more popular? 2.04% variable + a $10mo optional offset seems incredibly good.

    • lethological on 11/05/2021 - 22:05

      Keen to know too. Seems to have relatively good reviews on googling. Complaints focus on the approval process and there are a number of restrictions as to what works with their process.

  • Yamato on 11/05/2021 - 20:16

    Why can’t you offer this to off the plan purchases?

    • Marketingtictochomeloans @ Tic:Toc Home Loans on 12/05/2021 - 11:22

      Sorry Yamato, we can't offer home loans for off-the-plan, construction, or land. This is largely because these types of loans fall outside of our current risk appetite. The other reason is because of the additional steps and red-tape that would be required to process these loans — in order for us to offer a fast, streamlined, and automated application process, we've chosen not to tackle these just yet.

      Thanks for raising your interest about off-the-plan loans — we know there are others who would love to see us provide these too, so we'll take this on board. We're always working on new features and products, so anything could happen in the future! ~ Bailey

  • lethological on 11/05/2021 - 22:03

    Does the offset account get a debit card? or is that another fee/not possible?

    • Marketingtictochomeloans @ Tic:Toc Home Loans on 12/05/2021 - 11:07

      Hi lethological. As of last month, all new customers are being issued with VISA Debit Cards 💳 at no additional fee beyond the $10/month for the offset account. They have PayWave and can be used for online purchases.

      For our existing customers with plain ol' EFTPOS cards, we're just sorting through the logistics with our funder, Bendigo and Adelaide Bank, to re-issue fresh cards. We hope to roll these out soon, and will let our existing customers know how it'll work when they're ready to go. ~ Bailey

      • pennypacker on 12/05/2021 - 14:28

        Oh, that's good news! The old offset was a bit too "no frills".

        Does the Visa Debit also have Google Pay?

        • Marketingtictochomeloans @ Tic:Toc Home Loans on 12/05/2021 - 15:24
          +1

          No Google/Apple Pay just yet :( We're pushing pretty hard to make it happen, so stay tuned. ~ Bailey

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