My home loan

Yes.

Changing the type of loan

Switching from a variable loan is relatively easy. If you have a Tiimely Own variable rate home loan and you want to switch to a Tiimely Own fixed rate home loan, there will be a variation fee of $150.

Switching from a fixed rate during the fixed term is a little more complicated. There are break costs associated and they can be expensive. If you want to find out more, one of our home loan experts will be able to help you navigate the process.

Our team is available Monday to Friday on 1300 842 405 and on 08 7109 9010 (Saturdays) or via email anytime.

Adding or removing an offset facility

If you decide that you'd like an offset facility after you get your home loan, you can add one for a fee of $250. If you are on a fixed rate, an additional break cost will also apply. Removing the offset facility from your existing home loan will incur the same fees.

To add or remove an offset facility, you can call us Monday to Friday on 1300 842 405 and on 08 7109 9010 (Saturdays) or feel free to email us anytime.

Want to learn more about offset accounts and redraw facilities? Click here.

Buying a new home

If you’re a new customer, our Tiimely Home online application is quick and easy place to start. or if you prefer, you can contact us and we can talk you through it.

Topping up your home loan to release cash

Contact us and we’ll see if you can increase your home loan amount to release extra cash.

Want more information? Our guide can help explain how to refinance for things like renovation.

Leaving us?

If you decide to leave, we'd like to understand why. If you decide to call us on 1300 842 405, we can see if there's anything we can do to help, anything we could have done better, or we can simply assist you with the process of ending your loan.

Tiimely Home will work through any pricing changes with our funder, Bendigo and Adelaide Bank. If there is any change to our pricing, impacted customers will receive communication from Tiimely Home outlining the changes to their loan, which may include their new rate, new repayment amount, and the date it comes into effect.

We'll also provide updates on our website with all the relevant information.

Using your Tiimely Home Mastercard Debit card

If you’ve selected an offset facility, we’ll issue you a Tiimely Home Mastercard Debit card.

A few things to know:

• You can use your Tiimely Home card anywhere, including the 29,000 ATMS across Australia, and with no transaction fee at over 2,000 Bendigo Bank and Suncorp ATMs
• You can use it as you would any other Mastercard Debit or EFTPOS card
• It’s a fast and very secure way to transact
• Transact with ease through supported features: Apple or Google Pay, OSKO or PayID

Making repayments

You can make repayments via e-banking by;

• Direct debit

The simplest way to pay off your home loan is a direct debit set up through your e-banking, which allows you to transfer money from one of your accounts to any other account with an Australian BSB and Account Number.

This means you can set up reoccurring payments to your home loan, so you don’t have to worry about missing a payment.

• BPAY

BPAY can also be used to schedule your home loan repayments. The following features are available via e-banking:

• View all BPAY payments previously created plus those scheduled for later within the ‘Pending BPAY Payments’ screen
• View all BPAY payment records created for easy identification and bill management within the ‘BPAY Billers’ screen
• Bill payment details can be added at any time without a payment being made

How do I redraw on my loan?

Redraw means you can access any additional payments you’ve made on your home loan. With Tiimely Own, you can do this whenever you want for no additional fee, via e-banking.

You can also transfer the cash to one of your offset accounts and use your Tiimely Home Visa Debit card to immediately withdraw the funds.

Things to know about redraw:

• The minimum redraw amount is $1 per transaction
• Redrawing on your loan won’t increase your repayments or extend the term of your home loan, as you’re simply withdrawing the extra payments you’ve made into your home loan account.
• When redrawing, you (and any other applicant) need to authorise the transaction. If you’d prefer to allow independent transacts, please give us a call on 08 7109 9010.

You’ll need to contact us to change the following:

• Changes to your main phone number
• Change to your residential address

As an existing customer, simply contact our in-life team on 1300 842 405 (select option 3) and a lending specialist will review your requirements and take you through your options.

The statements you receive are paper statements by default, but you can change to e-statements via online banking:

Select Accounts > Statements > Statement preferences > Under Actions, click ‘modify’ on the account you wish to change.

Your monthly repayments will be stated in your contract and you can also check your repayment amount online; this can be found under the ‘Loan Account Information’ link via online banking.

Should you be affected by any rate changes, we’ll send you notification in the mail of the new monthly repayment amount.

Yes. If you’re ahead on your repayments or you've made a bulk payment, our in-life team can recalculate your minimum contribution for you, however this change will also incur a recalculation fee of $50. It’s also important to note that access to any additional funds you've accumulated in your redraw account won’t be available if you decide to proceed.

Once you complete the online application, our automated home loan approval process checks your credit history and assesses your eligibility, in real-time.

Once completed, you will either be:

• instantly approved
• referred to a home loan expert to complete your assessment
  OR
• notified that we weren't able to offer you a Tiimely Own home loan

Steps for buyers

If you’re approved, you’ll typically be able to buy the property you listed up to the approved amount (just send us a copy of the contract when you sign it).

• You'll receive an email from us with next steps, along with your home loan contract. You’ll need to sign it before it goes to our digital conveyancer, MSA.
• We’ll also send you a Settlement Pack and ask you to verify your identity (all the details for completing this will be in the email we send you).
• Your conveyancer will then organise settlement directly with us on the appointed day when we’ll provide the funds to purchase the property.
• Once you’ve transferred your deposit, the seller will receive payment (from us) and you’ll get the keys.

At this point, your new Tiimely Own home loan will begin.

Steps for refinancing your home

Once your loan is approved, the steps for refinancing are similar to those for buyers, such as your conveyancer organising your settlement. The biggest difference is we pay off your existing loan with your previous provider and your new Tiimely Own home loan will then be in place.

If you want to find out more about the settlement process, you’ll find a step-by-step in our settlement guide.

Your first monthly repayment is due 30 days after your settlement date. If you’ve opted for an alternate repayment frequency (fortnightly or weekly), our in-life team will let you know the date during your welcome call.

Yes, it is possible to increase or reduce your repayments. However, there are a few important things to be aware of.

Voluntary additional repayments

With a Tiimley Own home loan, you can make unlimited additional repayments if you have a variable rate home loan, or up to $20,000 per year if you have a fixed rate home loan.

The additional repayments made will be available via our free redraw facility.

Making a permanent change to your repayment amount

This is also known as a loan variation and can be arranged through our in-life team, however it does incur a fee. Why? Because as responsible lenders, we'll need to assess whether a loan variation is the right thing for us to offer you.

Increasing your set home loan repayments can reduce the overall interest paid over the life of your loan and shorten your loan term.

Reducing your home loan repayments has the opposite effect - your loan repayments will be lower, but this means your loan term is lengthened and you'll end up paying more interest over the life of your loan.

Unforeseeable changes in your life might impact your ability to make your repayments. Many lenders, including Tiimely Home, offer support for people experiencing finacial hardship. Decreasing your repayments may be a suitable option, however, we recommend speaking to our in-life team about your options.