![]() Helping to bring this innovative approach to home lending to market aligns with our mission to help Australians own their own home,” he said. “Our bank is known for our partnering mindset, which gives our customers choice and makes them successful. Mike Hirst, the bank’s managing director, said the bank believes it is important for customers to have choice when it comes to their interactions with a financial institution, and as such Tic Toc offers “an appealing alternative” for eligible customers. Tic Toc’s loans, aimed at borrowers with a deposit of at least 20 percent, are underwritten by Bendigo and Adelaide Bank. “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,” he said. With this, too, Tic Toc stated it is able to pass on cost savings to the customer, as it has no application, settlement, or valuation fees.īaum said that the rise of the on-demand economy has shifted consumer expectations around personal finance, however he believes the home loan space has been left behind. This decision-making system incorporates, among other things, a property valuation, ID check, credit check, and validation of the applicant’s financials. The startup, founded by former Bendigo and Adelaide Bank executive Anthony Baum, stated it is able to approve a loan in just 22 minutes thanks to a ‘digital decisioning system’ that can approve a customer’s online application almost in real time, with no need for input or assessment from a human. As the nation’s obsession with property grows, so too does the number of online services connecting prospective buyers to home loans, with Tic Toc the latest to launch in the space.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |