A lighthouse beaming light

Why Tic:Toc?

Because home loans don’t need to be a hassle. Save money, time and stress.

The smarter way to do home loans.

Tic:Toc mobile UX screens
Our world-first platform strips time and cost out of the home loan process. Our technology makes decisions about your application as you’re filling out your details online – real-time assessment. This means you can have a fully approved home loan on the same day you submit your application.
  1. An hourglass timer

    01.

    Win back time

    Get full approval online, in minutes.

    We’ve automated the process to assess and verify your application as you fill in your details, which means your home loan documents could be sent straight to your inbox on the same day you submit your application. No hunting for financial statements, and no waiting for banks or brokers to get back to you.
  2. A stack of coins

    02.

    Pocket the savings

    Tech efficiencies = cost efficiencies.

    Being 100% online means we offer very low interest rate, and don't charge application, valuation or settlement fees. You can save around $1,500 in upfront costs, not to mention huge savings over the life of your loan. Find out how much you can save by side-stepping your broker or bank.
  3. A calendar

    03.

    Be in control

    Home loans delivered simply.

    Home loans don’t need to be so confusing. What’s up with all the jargon and disclaimers if there’s a way to explain it simply? We have streamlined the process and give it to you straight – no fancy home loan packages and reams of fine print. And while you can get through our entire online process without speaking to anyone at all, we have Australian based experts available, when you want it.
  4. A chess piece

    04.

    Get full approval

    We don’t do estimates or pre-approval.

    It’s standard practice for home buyers to get ‘pre-approval’ from their bank before they make an offer on a home. We think it should be called fake-approval, because you’re actually a long way away from being properly approved. Full approval depends on what the lender values the property at (and plenty of more forms). With Tic:Toc, because we assess you and your property as you’re filling in your details, you’ll only ever get fully approved. So you know exactly how much you can borrow for a specific property.
  5. A pie chart

    05.

    No paper work

    Share your info digitally to save time and improve accuracy.

    By linking your bank accounts, we can verify your income and expenses in a matter of minutes. No paper necessary. Plus, it’s actually a more responsible way to lend money, because we get a more precise indication of how you can meet your loan repayments.
  6. Security shield badge

    06.

    Secure process

    Get bank level security, then some.

    Tic:Toc is a more secure and rigorous way to lend money. As well as complying with all the responsible lending rules from the ACCC, our platform doesn’t allow us to ‘over lend’ (something the banks have been exposed for doing via the Royal Banking Commission). Plus, our virtual documents are stored securely in our data centres, and your banking details are obliterated from the system. Smart, and secure.

How much money can Tic:Toc technology save you?

We believe our customers have the right to know exactly how much it costs to deliver their home loan. Not numbers hidden behind asterisks or fine print to make you feel like it’s too complex to understand.

Because while you don’t pay a fee to see your broker, they’re getting paid by someone... Your lender. Plus, there are other costs involved in delivering your home loan, such as upfront and ongoing commissions, and the paper shuffling. These costs are recovered through the interest rate you pay, as well as additional fees and charges incurred at the start and throughout the life of your loan.

Here are the true costs. And how much you can save by embracing technology to do home loans, smarter.

What my loan costs my funder

Broker Tic:Toc
Assessment & processing $4,000 $100
Origination commission $2,450 $2,800
Trailing commission $2,100 $2,100
Total costs $8,550 $5,000

These costs are based on the Australian average loan size of $350,000 for a live-in principal and interest loan with a 4.0% interest rate, over a 4 year term.

These are approximate figures, based on industry intel because “information on the relative costs of different distribution channels is not readily available”. Though we know “distributing through mortgage brokers… has a higher transaction cost” while the “the cost of processing the loan… is likely to be similar between the [broker and direct to lender] distribution channels”. (Deloitte Access Economics, The Value of Mortgage Broking July 2018, p30).

Looking overseas, there is more transparency, with the total cost for “home loan production expenses” sitting around $US 8887, as reported in June 2017 in the Mortgage Bankers Association’s performance report.