“If a customer decides they would prefer to talk to a broker, or if they don’t fit the criteria of an Aussie Edge loan, the customer’s application data can be seamlessly transferred to one of our brokers to pick up their application where they left off and help them get a home loan via another product. “What makes us unique is we can provide a smooth transition for those consumers who investigate or start their application online, only to realise they need the level of support a broker can offer, Symond added. Often in these cases, borrowers’ circumstances require more detailed assessment and guidance. The Aussie head cited research that shows that most of these customers who start an online application fail to complete their home loan process online as they require more assistance. Symond noted that the self-directed home loan market is worth nearly $80 billion annually, with 16 per cent of today’s home loan consumers researching online and then go directly to a lender, whilst a further 6 per cent research online and then stay online throughout the process. This kind of time-saving can translate to days of a credit assessor’s time, and weeks for a customer waiting on their approval.”Ĭommenting on the launch, Bendigo and Adelaide Bank said, “This agreement further builds on our longstanding relationship with Aussie.” “For those customers who find along the way they need the guidance of a broker, Aussie can offer that - giving customers the best of both worlds.”įounder and chief executive of Tic:Toc, Anthony Baum added.“Tic:Toc’s world-first technology creates significant efficiencies in the home loan process, with the ability to fully automate a home loan experience from the start of an online application to contract generation. “Borrowers can save a significant amount of time as they can apply online, even on their mobile device and get fast approval. While most consumers will continue to use a broker, there is a growing cohort of consumers who want to be self-directed in finding their home loan online.”Ĭommenting on the tie-up with the mortgage fintech, he said the digital lending product had been designed to offer a simple and convenient way to get finance approved. Tic:Toc Home Loans is a home loan application platform where users can request home and refinancing loans in Australia. The mortgage broker said the first product under the Aussie online platform, Aussie Edge is funded by Bendigo and Adelaide Bank which has a 29 per cent stake in the fintech which targets digitally savvy purchasers, refinancers, owner-occupiers and investors with a fixed-rate, variable-rate, and an optional offset account.īorrowers can now choose to seek guidance from an Aussie broker, who can access a range of home loan products from over 20 lenders in the market, including Aussie-branded home loans, or they can choose to self-serve with Aussie Online.Īussie chief executive, James Symond said, “Aussie is continuing to adapt to the ever-changing mortgage market. And even if your rates are a fraction higher than the new headline rate, you will still be saving thousands compared to the average loan.Aussie has launched its first online direct-to-customer digital lending product in partnership with fintech Tic:Tok. The good news is, all of our rates are seriously good because of our tech-driven proposition. When there’s an RBA cash rate cut and our funder’s costs ease, they may be able to pass on the cut which means all our customers will receive the same discount off their rate – new and existing. And some existing customers will be better off. At some point, our funder may actually increase the price they’ve agreed with us, which means the rates offered to new customers will go up.
It means our funder has been able to give us a better price at that specific time. We've been transparent about what offers we've been able to secure, and display them all here: and provide an in-depth explanation about how rates work, here: Having a lower rate for new customers doesn’t mean we’re making more money off our loyal customers to pay for the discount – because we don’t believe in that. As you've correctly observed, we've been able to negotiate rates for our new customers who came after you, and that rate may sit a couple of basis points below yours. The platform is credit policy agnostic, and can be configured to your funder’s requirements. Since 2017, Tic:Toc have worked with our funder, Adelaide and Bendigo Bank, to secure different prices and offers which we've passed on to our customers. Launch your digital home loan brand without the need for an in-house credit team.
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