Changes designed to make loan process seamless
Digital home loan provider Tiimely Home, formerly known as Tic:Toc, has launched an in-house broker service to further streamline the home loan process.
In partnership with broker aggregator, Australian Finance Group (AFG), Tiimely has combined its digital home loan technology in consultation with Tiimely Home’s in-house broker team, to give borrowers more choice and convenience.
A single online application can now access Tiimely’s Own home loan, which is not available via any other broker or lender, or source other loan options from more than 30 lenders.
Tiimely chief operating and finance officer Richard O’Callaghan (pictured above left) said, “advocating for better customer experiences and outcomes is in our DNA”.
“We firmly believe the interest of consumers and competition is the same; to provide greater choice, convenience and control,” O’Callaghan said. “That’s why we’re now utilising our Tiimely platform technology so Tiimely Home customers can have a more transparent and seamless experience, no matter who the loan provider is.”
Tiimely Home’s digitally focused brokers partner with AFG
O’Callaghan said his company’s relationship with AFG enables Tiimely Home to partner with the broader industry to offer a broader product set to its customers.
“This equates to thousands of additional home loan options for would-be borrowers who may not be eligible for a Tiimely Home Own Loan.”
AFG CEO David Bailey (pictured above right), said his company was very pleased to be part of the new offering.
“With access to a broad panel of lenders, market-leading technology and their own product suite, Tiimely brokers will ensure their customers are at the forefront of everything they do,” Bailey said.
Tic:Toc now known as Tiimely Own
For customers who already have a Tic:Toc Home Loan, the home loan is now called Tiimely Own.
The loans are still backed by Bendigo and Adelaide Bank and Tiimely’s home loan experts are the same locally based team as before the name change.
To celebrate the launch, Tiimely Home is offering Tiimely Own home loans at 5.69% or 5.70% CR (variable, owner occupied and P&I), with access to Tiimely Turnaround™, meaning customers can get home loan approval more than two times faster than the industry average.
Tiimely customers expect cutting-edge digital technology
According to O’Callaghan, the rebranding signals the evolution of the business from a digital lender into a platform-technology company.
“As the number of partners who now use our platform continues to grow, the change was inevitable,” O’Callaghan said. “In saying that, of course our name change to Tiimely also negates the unavoidable and confusing associations from sharing a name with a certain social media app.”
O’Callaghan said Tiimely provided the first digital home loan offering in Australia in 2017.
“The fast, convenient, and digital end-to-end application process effectively revolutionised the home loan experience and challenged the incumbent lenders.
“But time doesn’t stand still, and neither do we. And after six years, we remain committed to driving innovation and the pursuit of seamless. For us that’s delivering seamless lending experiences for our customers.”
Embrace digital lending or get left behind, says Tiimely
O’Callaghan said customers had well and truly embraced digital lending and lenders had to digitise their offerings or risk being left behind.
“Digital native customers want cheaper, more convenient home loan products at their fingertips.
“More importantly, they want a quick decision on their lending application and if they don’t get one, they’ll find it elsewhere.
“This has culminated into diminishing loyalty to incumbent lenders, the rise of the non-bank providers, and greater choice for consumers.”
At the end of last year, IAG, Bendigo and Adelaide Bank were among the companies which reaffirmed their confidence in Tic:Toc with further funding of its series D funding.
Shareholder IAG Firemark Ventures led the funding round and allowed Tic:Toc to secure a further $24 million, taking its series D funding to $54 million in total.
Do borrowers expect cutting edge digital technology to be part of the loan process? Share your thoughts below.
