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Can I change my repayments?

It is possible to change your repayments, up or down. 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 to you via our free redraw facility.

Making a permanent change to your repayment amount

This is also known as a loan variation.

You'll need to arrange a loan variation with our in-life team, which will incur a fee. Why? Because as responsible lenders, we'll need to assess whether a loan variation is the right thing to do by 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 it also means your loan term is lengthened and you pay more interest over the life of your loan.

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


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Legal things about our rates
Our home loans are subject to credit criteria and eligibility requirements. Home loan interest rates are for new customers only and can change. Our comparison rates are based on a $150,000 loan amount over a 25 year term. They factor in fees associated with applying for the loan; ongoing fees and fees associated with leaving the loan. Our fixed loans roll to a variable principal and interest rate at the end of the fixed term. If the interest only period is not specified, the comparison rate is calculated on a one year period.

WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Tiimely Turnaround
^Our turnaround times are up to 2x faster than the industry, based on a comparison of our average platform submit to approval time compared to industry submit to approval time, published here  (June 2023). Customer turnaround times are dependent on individual circumstances and may require an assessor to obtain more information.

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