My friends went with ANZ and they are 40 days into their settlement now asking for extension after extension.we hope we don't suddenly have issues. The most stressful part of buying our first home has to be waiting for the bank since even the fastest turnaround ones seem to take forever with valuation. Seller accepted our first offer, which was great. We looked at about a dozen places and everything was either too expensive or would require too much work to fix up.
TICTOC HOME LOAN FREE
Got a lovely 3bed 2bath 1garage 220sq metre free standing villa for 470k. We moved from Canberra to the south coast so we didn't have pay a ridiculous price for a 3 bedroom house. Going to be great to be back in our own place. Got all the inspections being done next week and should have everything 100% ready including the bank by Friday next week. Not sure if you go direct but we are just waiting for the valuation atm, applied last Wednesday, got approval on Friday pending valuation.ĪNZ and Westpac were both giving our broker 20+ business days ETAs.Įither us or the sellers can still back out (doubtful as they cancelled all inspections and open house and said we could have as much time as we need for finance) but we want to still ram through the transaction asap (with all necessary checks done though). St George is approving (subject to valuation) within 2-3 days atm, with a broker. I received excellent support from them.Įdit: I was pretty nervous about going with them but ultimately my decision came down to 2 factors: 1) The actual loan and accounts are all with Adelaide bank, TicToc is just a mortgage manager and 2) Their rates were the best I could find while still staying with a bank lender My guess is since it was an account question I probably spoke to the bank customer support rather than TicToc customer support (I didn't ask). Recently I had a security scare so I had to call them up to discuss securing my account further. That didn't require any back and forth either, I just sent them one email and they made the change within a week. There was an interest rate reduction some time after I settled which they passed on to me after I emailed them about it. I moved up the settlement date and they were cool with that too. My conveyancer had no issues with them either. All my interactions were over email (some over live chat). Baum.īendigo and Adelaide Bank backs Tic:Toc underwriting the loans and supporting the development and launch of the business.īendigo and Adelaide Bank’s Managing Director, Mike Hirst said the Bank is pleased to support Tic:Toc to launch this unique approach to home finance.I purchased and settled with TicToc late last year and it was perfectly smooth.
“We have a team of experts available across extended business hours, to offer human and nonintrusive assistance when a customer decides they want it,” said Mr. Though automation has reduced approval times to 22 minutes, Tic:Toc have ensured they do not compromise customer service by combining the digital application with human interaction. “Tic:Toc customers can also test us out to see whether our loans are right for them, before they need to provide personal details,” said Mr. “Other ‘online’ home loan providers digitise only part of the process, so while their application may begin online, it ends in the exact same way every other traditional home loan process does. “We believe customers deserve a faster, easier and more transparent way to get a home loan and Tic:Toc can deliver on this promise. How will the tighter underwriting standards play out. The on-demand economy has shifted customer expectations when it comes to personal finance, but home loans have been left behind. I discuss the evolution of the mortgage industry with Anthony Baum, CEO of Tic:Toc Home Loans.
“Australia has one of the highest take up rates of online banking in the world. Tic:Toc founder and CEO, Anthony Baum, said the industry was ripe for innovation. This allows Tic:Toc to radically improve turnaround times from the typical 22 days to just 22 minutes, as well as pass on the cost savings of digitisation to the customer via competitive interest rates and no application, settlement or valuation fees.īy delivering the first genuinely online and fully automated home loan, Tic:Toc hopes to redefine the way customers secure home finance, and disrupt the home finance landscape on a world stage. Tic:Toc, an Australian online lending platform, uses a digital decisioning system to assess and approve a customers’ online application in real-time, without the need for a human credit assessor.
TICTOC HOME LOAN FULL
Australian fintech Tic:Toc, today announced the launch of its world first online instant home loan platform, offering eligible customers full home loan approval in just 22 minutes.