2.04% p.a. Variable P&I Live-in Home Loan (2.05% p.a. CR) (90% LVR, $10/M Offset @ 2.19% p.a. CR) @ Tic:Toc Home Loans

MarketingPtictochomeloans on 12/05/2021 - 11:10 tictoc.com.au (214 clicks)
Last edited 12/05/2021 - 12:10

Tic:Toc have lowered home loan rates for new customers across a number of products, including their Variable P&I Live-in home loan. Get Australia's leading fee-free Variable P&I Live-in rate for 90% LVR home loans.

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 Fixed home loans? Our Fixed 2 Year P&I Live-in home loan has an interest rate of 1.89% p.a (2.03%p.a. CR). We also offer investment and interest-only home loans. View all of our home loans here.

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 2.19%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. They also come with a nifty VISA debit card 💳 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 Loan

26 Jun 2021

Related Stores

Tic:Toc Home Loans

closed Comments

ibelievesyd on 12/05/2021 - 11:20

Would be more interesting if no LMI :)
- Marketingtictochomeloans @ Tic:Toc Home Loans on 12/05/2021 - 11:30
  
  We wish! :) Unfortunately, we have to charge LMI for loans above 80% LVR.
  
  LMI can still be a great option to consider, especially when you only have a 10% deposit/equity saved. And it's not just for first home buyers, either. ~ Bailey
FrugalFrella on 12/05/2021 - 11:25

+1

If you're curious and have an existing Offset account with an EFTPOS card - the Visa Debit card isn't available to you yet.
Called Adelaide bank and said I'm not able to be upgraded yet and it's for new customers only which does suck :(

They said it's "in the works" to have this added for existing customers but who knows how long that will be.

Other than that though, Tic:Toc has been solid!
- Marketingtictochomeloans @ Tic:Toc Home Loans on 12/05/2021 - 11:32
  
  Thanks for bearing with us Gamblors! We know how eager everyone has been to give the standard EFTPOS card the flick, so we're rolling the VISA debit cards out as soon as we can. For right now, only new customers are being issued with the new cards.
  
  As you said, we're working with our funder, Bendigo and Adelaide Bank (who issue the cards), to sort the logistics of keeping the old cards valid and working for existing cardholders while the new cards are in the post, among a couple of other kinks we want to iron out.
  
  We're hoping to have them available for our existing customers soon, and we'll contact everyone with more detail when they're ready to roll out.
  
  Please let me know if you have any other questions ~ Bailey
iomega on 12/05/2021 - 11:34

I submitted my application Monday night and it's currently undergoing a human review. Got any idea how long it will take?
- Marketingtictochomeloans @ Tic:Toc Home Loans on 12/05/2021 - 11:39
  
  If it's been picked up by a Credit Assessor, it shouldn't take too long at all. It's hard to give a timeframe without knowing the specifics of your application though. If you'd like, I can try to find out the current status — just shoot me a PM with your reference number. :) Cheers ~ Bailey
  - iomega on 12/05/2021 - 11:47
    
    I'm not too fussed at the moment as I'm also talking with some other banks, but I'll send you one if it comes to it. thanks
- Mortgagetightass on 12/05/2021 - 11:53
  
  Same here, Awaiting human reply, whats a rough turn around time?
  
  Thanks :)
  - Marketingtictochomeloans @ Tic:Toc Home Loans on 12/05/2021 - 12:00
    
    +1
    
    Shouldn't be too long — as of today, it's taking us about one/two business days for a Credit Assessor to pick up an application for assessment.
    
    Once picked up, the time to approval can vary depending on what additional info we might need and how quickly you can provide it, among a few other factors. You can read more about how long approvals can take here. Cheers :) ~ Bailey
    - Mortgagetightass on 12/05/2021 - 12:06
      
      Thanks for the reply mate :)
- FrugalFrella on 12/05/2021 - 12:21
  
  +2
  
  I emailed in to [email protected] yesterday and had mine dropped from 2.19% to 2.04% just 15 minutes ago
  - - FrugalFrella on 12/05/2021 - 16:20
      
      Around last August. I think my starting rate was 2.34%, and I got it dropped to 2.19% a few months ago when the rates dropped, and now to their latest of 2.04%.
      - FrugalFrella on 13/05/2021 - 08:54
        
        @lastonau: Damn! Maybe it's related to loan size? I've got a pretty small loan at <300k so maybe they take that into consideration
        
        Kingfabay on 21/05/2021 - 06:39
        
        @FrugalFrella: My rates also dropped to 2.04% after emailing them.
- Marketingtictochomeloans @ Tic:Toc Home Loans on 12/05/2021 - 12:25
  
  -1
  
  Yeah, sorry lastonau :( Unfortunately this offer 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 still 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. Cheers ~ Bailey
  - Global Nomad on 17/05/2021 - 14:18
    
    That's simply ridiculous.
    
    For a fixed rate loan or short term introductory offer yes but not for a variable rate loan.
    All customers should be on the same standard headline variable rate. That's why you get a variable rate loan so it can follow interest rates down or conversely up, if that should happen.
    
    Sounds like you're forcing existing customers into a de'facto fixed rate scenario, but only if interest drop and that lacks all credibility. Might be one for the ACCC.
onetwothreefour on 12/05/2021 - 11:49

Been with tictoc for a while and no complaints, maybe a little slow at passing on rate cuts when on variable. Unfortunately, I fixed last year at 2.22%, maybe should have waited longer.
- Marketingtictochomeloans @ Tic:Toc Home Loans on 12/05/2021 - 12:14
  
  -1
  
  Glad to hear you've been enjoying us @onetwothreefour . Unlucky about the fix — who could have known rates would keep going down. Still not a terrible rate though! ~ Bailey
shadow131 on 12/05/2021 - 12:04

Hi - Can i ask how the roll to rate works for fixed?

"2.04%roll-to-rate after 2 years"

What if variable has gone up after 2 years? How does this work?
- Marketingtictochomeloans @ Tic:Toc Home Loans on 12/05/2021 - 12:18
  
  Hey shadow — great question. The roll-to rate is written into the contract, so won't vary (up OR down) for the duration of the fixed period. However, after it rolls to a variable rate it will, of course, be able to vary. Cheers ~ Bailey
shadow131 on 12/05/2021 - 12:09

Not to say this bank is bad or anything - As with all banks, there is always rate creep.
Great thing about tic toc is they are transparent about it.

https://tictoc.com.au/home-loan-guide/how-banks-and-lenders-…
- Marketingtictochomeloans @ Tic:Toc Home Loans on 12/05/2021 - 14:06
  
  -1
  
  That's correct — we don't pretend to be able to give everyone the exact same rate. It just wouldn't be feasible for us to continue as a business with a model like that. But what we can do differently is be upfront about it, and let existing customers know where they stand. We also don't believe in creeping existing customer rates up in order to pay for lower new customer offers.
  
  We want to empower people to make smart choices for themselves. And that includes empowering them to refinance when their rate isn't as competitive as it could be, regardless of lender. It's why we feel it's important to give this insight into our rate movements. Thanks for linking the rate graph. Cheers ~ Bailey
Toph Beifong on 14/05/2021 - 23:03

How long do you have to be in the same job to qualify for a loan? 3 months? 6 months?

This was posted 3 years 7 months 11 days ago, and might be an out-dated deal.