Fintech platform and digital lender Tic:Toc is partnering with Australian Financial Group to launch mortgage brokerage operations for borrowers.
In anticipation of an imminent wave of refinancing in a context of rising interest rates, the partnership allows TIC Toc to offer the AFG network of more than 3,500 brokers to help them provide mortgages faster.
The Tic:Toc platform is currently authorized by 17 partner companies, including two of Australia’s five largest banks – Bendigo and Adelaide Bank.
If a borrower did not meet Tic:Toc’s credit criteria for a branded home loan, they would be offered loans from AFG’s broader product set, which includes more than 70 lenders.
By capturing application data, this could speed up the underwriting process for banks and non-bank lenders since AFG can offer lenders on its panel already validated borrowers.
Essentially, the main objective of the partnership is to energize the mortgage loan processes.
Tic:Toc Founder and CEO, Anthony Baum, said he was delighted to partner with such a respected and industry-experienced company.
“AFG and Tic:Toc are aligned with our commitment to providing customer-focused, low-friction home lending solutions for Australians and their communities,” Mr. Baum said.
“This innovative partnership is an example of the work Tic:Toc is doing to make home loans faster, smarter and easier for our customers and partners.”
David Bailey, CEO of AFG, said AFG and Tic:Toc are leveraging technology to improve and accelerate the service experience for all customers.
“We are very pleased to partner with leading digital lender and technology provider Tic:Toc to help provide better service to Australian homebuyers,” Mr Bailey said.
“We bring our solution of aggregating best practices, decades of experience in building an extraordinarily successful brokerage business, and a wide range of products, and Tic:Toc brings cutting-edge technology through its platform of loan and its AI-based technology – customer-centric orientation.
“We believe that our partnership with Anthony and his team will not only create an exceptional digital brokerage experience for Tic:Toc clients, but that collectively we can work to transform the landscape for all AFG brokers.”
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Are you buying a house or looking to refinance? The table below shows home loans with some of the lowest interest rates on the market for homeowners.
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Variable | More details | |||||||||||
| FEATUREDALREADY INCLUDES RBA RATE INCREASE IN JULYUNLIMITED WITHDRAWALS | |||||||||||||
Smart Booster Home Loan Discounted Variable – 2 years (LVR
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Variable | More details | |||||||||||
| FEATUREDREFINANCING ONLY | |||||||||||||
Variable Rate Home Loan – Refinance Only
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Variable | More details | |||||||||||
| FEATUREDAN EASY DIGITAL APPLICATION |
Careful variable real estate loan (capital and interest) (LVR
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Careful variable real estate loan (capital and interest) (LVR
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Variable | More details | |||||||||||
| NO CONTINUING FEES |
Yard PAYG home loan (principal and interest) LVR ≤ 80%
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Yard PAYG home loan (principal and interest) LVR ≤ 80%
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- Already includes July RBA rate increase
- Fast turnaround times, can meet 30 day settlement
- For purchase and refinancing, down payment min 20%
- No ongoing or monthly fees, add 0.10% compensation
Basic criteria: a loan amount of $400,000, variable, fixed, principal and interest (P&I) real estate loans with an LVR (loan-to-value) ratio of at least 80%. However, the “Compare mortgages” table allows calculations to be made on the variables selected and entered by the user. All products will list the LVR with the product and price list which is clearly published on the product supplier’s website. Monthly repayments, once the basic criteria are modified by the user, will be based on the advertised prices of the selected products and determined by the loan amount, repayment type, loan term and LVR as entered by the user. user/you. *The comparison rate is based on a loan of $150,000 over 25 years. Please note: this comparison rate is only true for this example and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different comparison rate. Rates correct as of August 2, 2022. See disclaimer.
Image by Pixabay via Pexels
The whole market has not been taken into account in the selection of the above products. Instead, a reduced portion of the market was considered. Products from some vendors may not be available in all states. To be considered, the product and price must be clearly published on the product supplier’s website. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au and Performance Drive are part of the Savings Media group. In the interest of full disclosure, Savings Media Group is associated with Firstmac Group. To learn how Savings Media Group handles potential conflicts of interest, as well as how we are paid, please visit the website links at the bottom of this page.
