Home loan ready

Your borrowing power is an approximate calculation of your ability to borrow funds. Basically, it’s an indication of how much you can afford to borrow while still being able to meet your other financial obligations. Each lender will calculate it differently, but generally, a borrowing power calculator considers things like your income, current loans and liabilities, credit cards and their limits, plus your living expenses. Using our borrowing power calculator will give you an idea of what you could borrow. Learn more about what goes into calculating your borrowing power.

Tiimely Home have some of the lowest variable and fixed rate home loan rates, and you can see them all here. As verified by our customers, our digital application process enables us to offer some of the best interest rates in the market.

If you’re looking for the lowest home loan interest rate, we recommend viewing all our home loans and weighing up which one is best for you.

Even if a Tiimely Own home loan isn’t for you, it’s still a good idea to know what else to look for beyond an interest rate.

The time it takes us to assess your application can change depending on how many applications we’re currently receiving and the complexity of your application.

If we need a little more information, however it will sometimes cause delays. Opting to validate your financials manually instead of securely linking your accounts slows the process down significantly, and one of our Credit Assessors will need to assist. Submitting an incomplete application or providing inaccurate estimates of your expenses (or any information regarding your income, expenses and debts) also requires manual work from our Credit Assessors, so make sure you’re really ready before you apply.

Due to our competitive rates, we often receive large volumes of applications and it takes us a little longer than usual to assess and approve your application. When this happens, we’ll be sure to let you know as soon as possible. We work hard to keep up with demand and are continually growing our team to ensure we maintain our fast approval times.

If your application is time-sensitive or if there is a deadline you’re trying to meet, please speak with our team to get an understanding of our current approval times. You can chat with us over Connecting... or on 1300 842 405.

Yes, absolutely. It’s the same application for all home loan variations however there are some eligibility requirements you’ll need to prepare:

• provide your registered ABN
• have been self-employed for at least 1 year
• provide your most recent business tax return AND your most recent personal tax return together with the notice of assessment
• be registered for GST If your turnover is more than $75,000p.a.
• have a good credit history
• meet our standard eligibility criteria

Note: Financial validation requirements – Tiimely Own home loans require a years' worth of up-to-date tax returns or business financial statements.

The only difference as a self-employed person compared to a PAYG customer, is that we won’t be able to instantly validate your income by linking your bank accounts.

Instead, you’ll need to upload your business financial statements and tax returns, as well as your personal tax returns and notice of assessment. Then one of our team of Credit Assessors will review them to assess your application. It’s not as fast as our tech, but you’ll still get an answer much faster than your average lender, because they're only checking the parts of your application that our tech couldn't.

Learn more about applying as a self-employed applicant here.

You can easily find out by checking against our eligibility criteria. These consider a range of factors including:

• Property: value, location, and type
• Your contributions (deposit or equity amount)
• Employment: current and previous history, and type
• Identity: forms of government ID, and citizenship

Tiimely Own pre-approval is different to standard ‘pre-approval’. It assesses everything we can without knowing the final property you’ll be purchasing. Learn more about our pre-approval.

For Tiimely Own products
If you're applying for a Tiimely Own home loan, we’ll be verifying your face against your identification documents. It’s a simple process you can do with your phone camera and the usual forms of ID.

A passport (from any country); or an Australian driver’s license are suitable options of original government-issued photo ID documents, however copies are not accepted and this includes certified copies.

For loans with our partner lenders via our in-house broker service

If you’re using our in-house brokers, you’ll need at least 2 forms of government ID:

• Medicare card (must-have); and
• A passport (from any country); or
• Australian driver’s license

If you don’t have access to valid ID documents, please contact us.

Yes, you can apply to refinance multiple properties, however, at this stage we’ll need separate applications for each property.
Tiimely Home is the retail business of a tech company, so we're working on making this experience better.

Firstly, it’s important identify what you need, and then find home loan products that suit your situation. Home loans are categorised as follows:

The two main types of home loans

• Fixed rate – an interest rate that’s locked in for a set period of time
  OR
• Variable rate – an interest rate that fluctuates with the market

The two simple loan uses

• Owner-occupied – for those looking for a property to live in
  OR
• Investment – for those looking to build a property investment portfolio

The two different repayment types

• Principal & interest – where you pay off the loan amount plus interest
  OR
• Interest Only loans - where you only pay the interest

There are some basic things to consider:

Interest rate - try and get the lowest rate you can, as even a small difference can add up to thousands of dollars over the life of the loan.

Loan term – this impacts the size of your repayments and the interest you’ll pay (i.e. shorter term = higher repayments but less interest).

Fixed or variable interest rate – a fixed rate helps you budget because your repayments remain the same, but if interest rates fall, you won't benefit. A variable rate usually offers more loan features, but your repayments will go up if interest rates rise.

Loan features – these include redraw or line of credit facilities and an offset account that lets you use your savings to lower the amount of interest you pay and reduce the overall cost of the loan. Most of these features cost extra, so choose a loan with only the features you’ll use.

Loan fees - these can include application fees, valuation fees, annual fees, and settlement fees.

Our Tiimely Home application is different to traditional processes. It’s not a manual form that you fill out digitally, but a live application that assesses your information and eligibility in real time. And because our application process is online, we’re able to use the efficiency of our process to offer some of the best interest rates in the market.

Plus, we have experienced in-house brokers if a Tiimely Own home loan isn’t suitable for you.

If you still have any questions or need a little more information, you can contact us at Tiimely Home to assess your individual needs.

An offset account is like a savings account that’s linked to your home loan which offsets the balance of your home loan. It offsets the balance of your home loan so you only pay interest on the balance minus the amount in your offset. The larger the balance in your offset account, the less interest you pay on your home loan. This could potentially save you thousands in interest over the life of your loan. We offer 100% offset accounts with all our Tiimely Own home loans, including our fixed rate loans. You can find more information on our offset account here.

Can you withdraw money from an offset account?

An offset account has most of the features of a normal transactional savings account. You can deposit money and withdraw from it any time to pay bills or for day-to-day expenses. However the more you have in your offset, the less interest you’ll pay.

Your money is protected

Your offset account is managed by our funder, Bendigo and Adelaide Bank, an Authorised Deposit-Taking Institution (ADI). This means your offset account is guaranteed under the Australian Government's Financial Claims Scheme (FCS) for up to $250,000.

Tiimely Own offset accounts

Unlike some other lenders, at Tiimely Own we don't build the cost of the offset account into our interest rate. You simply pay $10 per month for the feature.

Our offset accounts include;

• A Tiimely Own VISA Debit card which you can use like any other VISA Debit or EFTPOS card. Any Suncorp or Bendigo ATM usage is free of charge
• A BPAY facility for bill payments and a swipe option for retail transactions
• Deposit and debit features like any standard bank account

Adding or removing offset account

If you change your mind, after you get your home loan, you’ll need to pay a fee of $150. And if you're on a fixed interest rate, an additional break cost will also apply.

To add or remove an offset account, give us a call on 08 7109 9010 or email myloan@tiimelyhome.com.au and we’ll make the change for you.

Learn more about offset accounts, and how they differ from redraw facilities.