FAQs

How and when will my credit history be affected when I start an application?

Once you get to the personal details section of our application and agree with our Privacy Policy and Credit Guide, our platform will trigger a credit check from the two main credit reporting bodies in Australia: Equifax and Illion.

How does a lender get my credit score?

Credit scores generally range from 0 to 1200, with higher scores suggesting lower risk to the lender. They are calculated by the credit reporting bodies using information in your credit report, including your repayment history; length of credit history, how much debt you have and the types of credit you've applied for.

Higher credit scores are an indicator that you’ve demonstrated responsible credit behaviour, making lenders more likely to lend to you, while lower scores may make it harder for you to qualify for a loan or get a lower interest rate.

You can improve your credit score by making your repayments on time, paying off your debts quickly, keeping your credit card balance well below the limit and only applying for credit when you're serious.

Credit reporting bodies supply us with your credit history report (and your credit score) so we can responsibly assess you for your home loan. Our enquiry remains on your file, which is like having a post-it that says "Applied for a Tiimely Own home loan". This is a standard check that all lenders do for both pre-approval and full approval.

Do multiple loan applications affect my credit rating?

Having multiple credit enquiries on your file can impact your score negatively, particularly when made in a short period of time, because it can look like you're shopping around for lots of different loans. Lenders may ask you to explain recent enquiries on your credit report if they cannot reconcile them to your existing credit commitments.

If I have a good credit score will I automatically get approved?

A good credit score isn't the only thing lenders use when assessing your application. There are many other factors that lenders need to consider, and each lender has their own requirements.

If you're interested in learning more about how credit reporting works or to check your credit score, you can visit:

• Equifax Australia www.mycreditfile.com.au
• Illion Australia www.checkyourcredit.com.au

Each lender has their own lending criteria, and these are the basis for their credit decisions. When we assess a home loan application, we look at a number of different sources to decide if we can approve it.

There are a few reasons why your application may not have been approved, including:

• Your loan repayment capacity, taking into account your income, expenses, existing financial commitments, and the ratio of debt to your income.
• The nature and stability of your employment.
• Your credit history, which we obtained from Equifax and Illion.
• The value of your property compared to the size of your loan.
• The property linked to your application may not meet our specific credit criteria.

We know that not everyone will be suitable for a Tiimely Own home loan. However, we’ll let you know if there’s a better fit with one of our partner lenders. If you choose to go through our in-house broker service we’ll match your application (with your permission, of course) against our panel of 30+ lenders and 1000s of home loan options without you having to reapply. Learn more about our in-house broker service.

At Tiimely Home, it’s not essential. With expert guidance from our friendly in-house broker team, we’ll match your details with a Tiimely Own home loan, or, we’ll let you know if there’s a better fit with one of our partner lenders.

A Tiimely Own home loan is the smart choice for a low-rate loan with fast approval, but it’s not for everyone. Our in-house broker service provides major bank loans and supports complex situations with extended loan features such as split loans, guarantor loans, and construction loans.

During the application process we’ll ask you what the loan is for and what your goals and objectives are from acquiring the loan.

We’ll also help you narrow down things that are important to you like;

• If you want to pay the loan down quickly
• If you prefer knowing how much your repayments will be so you can maintain a budget (i.e. fixed rate) or if you prefer loan flexibility (variable rate)
• How often you’d prefer to make repayments
• Whether you want features with your loan such as an offset account and redraw facility.

Based on your answers, we'll recommend some loan options that best suit your needs. Once you've selected the most suitable option, we'll proceed with the financial assessment.

If you don’t qualify for a Tiimely Own home loan or a loan from one of Tiimely Home’s partner lenders, we’ll let you know upfront so we don’t waste your time. And if you’re approved, you’ll have your answer in a matter of minutes.

That’s the beauty of our real-time online application process and it’s what’s made us a standout provider in the home loan sector.

Here's what you need to know based on your employment type.

Full-time and permanent part-time PAYG roles

you've held your job for 6 months, or

had 12 months of continuous service in the same industry

Dependent contractor PAYG roles

you've held your job for 6 months, or

had 2 years of continuous service in the same industry

Casual PAYG roles

you've held your job for 12 months, or

6 months if you’ve had 2 years of continuous service in the same industry

Self-employed roles

you've traded for 1 year, and

meet our other self-employment criteria

If you fall outside of any of these categories and we are unable to approve you for a Tiimely Own home loan, we encourage you to apply using our application form and we’ll direct you through to our in-house broker service. We’ll match your application (with your permission, of course) against our panel of 30+ lenders and 1000s of home loan options without you having to reapply. ​There’s no need to wait!

Yes, you will need to provide details of your income when applying to purchase or refinance a property. You will also need to verify this information by providing proof of income.

With Tiimely Home's digital verification, we can verify your income on the spot, typically without the need for further documentation. In some cases, however, we’ll need to see some old-school original documents.

Once you apply for a Tiimely Home loan, you’ll receive your log in credentials, which will allow you to log in and manage your account online. This will also allow you to check on the status of your loan application, if it hasn’t been approved on the spot.

You log in credentials will include your account details, a customer number and a temporary password, which you’ll need to change for security reasons (the usual annoying password rules apply, like including a number, a letter and minimum of eight digits).

If you misplace or forget your Customer Number or password, just contact us.

We’re committed to turning around your application in as little time as possible, but the time it takes us to get to your application can change depending on the complexity of your application, and how many applications we’re currently receiving.

After you apply, we’ll let you know if we’re experiencing any delays. Once we pick up your application for assessment, we start working towards approval. Things will move really fast here. It’s important that you check your eligibility and make sure you have the correct identification and documentation ready to apply, to help our Credit Assessors get your application fully assessed in no time.

Opting for manual financial validation instead of securely linking your accounts, submitting an incomplete application, or providing inaccurate estimates of your expenses (or any information regarding your income, expenses and debts which doesn't match your actual situation) may require manual work for you and our credit assessors. These things all slow us down significantly. So make sure you’re really ready before you apply and respond quickly to requests from our Credit Assessors to help get your approved faster.

If we need a little more information, we’ll refer your application to one of our Credit Assessors. This is where a member of our team will jump in to help bring your application up to scratch and over the line. Our Credit Assessors can usually move fast, and your application can sometimes be completed quite quickly, especially if you’re proactive in responding to their requests for more information.

Sometimes they’ll only need one or two things — some updated payslips or a bank account statement. Everyone’s unique, so if your specific situation is more complex than most, they might ask you to provide more detail. If you’ve chosen to validate your financials manually, they’ll typically need to request more information from you and it will take longer to assess your application. When you choose digital validation, they receive the exact same information, just much faster.

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 turnaround times. You can chat with us over LiveChat or on 1300 842 405.

Each lender has their own lending criteria, and these are the basis for their credit decisions. When we assess a home loan application, we look at a number of different sources to decide if we can approve it.

There are a few reasons why your application may not have been approved, including:

• Your loan repayment capacity, taking into account your income, expenses, existing financial commitments, and the ratio of debt to your income.
• The nature and stability of your employment.
• Your credit history, which we obtained from Equifax and Illion.
• The value of your property compared to the size of your loan.
• The property linked to your application may not meet our specific credit criteria.

We wish we could tell you specifically why sometimes, but we're not allowed to disclose the exact reason for declining an application. However, if you’re not a match right now, don’t hesitate to check again later in the future.

All the loans we have are available online only. Before you start the application process though, you’ll need to check your eligibility.

If you can answer yes to these questions, there’s a good chance you can apply for a Tiimely Own home loan. However, if you are not eligible, don’t worry. We can help you find a home loan to suit you via our in-house broker service.

• Are you buying or refinancing an established property (not off-the-plan or under construction)?
• Are you buying or refinancing a home or investment property in a capital city or major regional centre?
• Do you want to borrow at least $50k (and no more than $3m)? If borrowing more than $2m, do you have at least a 25% deposit?
• Do you have at least a 10% deposit or equity, plus savings to cover fees and charges such as stamp duty?
• Are you currently employed (either on a salary or self-employed)?
• Do you have at least one form of government ID, such as a passport, driver’s licence or Medicare card?
• Are you an Australian citizen or permanent resident who lives in Australia?

If you answered yes to all of these, we could be a good fit for each other.

Want to learn more about the loans we offer? Check out our home loans page.

Still have questions? Check out our FAQs or speak to our online chat consultants - they're real people ready to assist.

We offer a form of conditional approval for our Tiimely Own home loans, which is everything we can assess without knowing your property. Our preferred option is to give you full approval, giving you maximum confidence. But our digital application can work towards either. We understand everyone shops for a house differently, and sometimes conditional approval may suit your needs better. So, here’s how it works.

What does conditional approval (subject to property) with a Tiimely Own home loan look like?

Conditional approval means that we’ve assessed everything we can except for the property you’re buying (because you haven’t found one yet), so we’ll need to do a valuation when you find a property, and one final check to fully approve you for a home loan.

Subject to property means we can assess you as much as possible until the only outstanding item we need from you is your choice in property. When you find the right one, just let us know and we’ll do some other checks (including giving your property the double-thumbs up) to complete your assessment and hopefully it's full approval from there.

Your conditional approval is valid for 60 days. We’ll send a reminder before your approval expires in case you’d like to renew it. Please note, we’ll only be able to renew it once. You’ll need to start a new application once your approval expires – but it’s a straightforward process as you’ve already experienced, and our Customer Support team is here to help.

Our online application asks for details about the property you’d like to purchase. If you are seeking conditional approval (subject to property), we’ll only ask for the suburb you’re looking to purchase in. If you’re considering multiple suburbs, just choose the one you’re most likely to purchase in. When you find the right home down the track, let us know the address and we’ll update your application.

It’s important to understand our general application eligibility before applying, as we can’t lend to everyone or to all properties in all locations. If you’re unsure, just ask us. We’re available to chat 7 days over the phone or through our LiveChat. We also run a credit check on your file during the application, so make sure you’re really ready (we’re not an online lead-capture form, we’re the real deal trying to give you a real, digital answer).

Our quickest ever full approval to date was just 58 minutes. But sometimes we can hit delays if we need a little more information. Opting for manual financial validation instead of securely linking your accounts slows us down significantly, and one of our Credit Assessors will need to step in to assist. Submitting an incomplete application or providing inaccurate estimates of your expenses (or any information regarding your income, expenses and debts which doesn't match your actual situation) also requires manual work from our Credit Assessors. Again, make sure you’re really ready before you apply. If your application is urgent or you’re trying to meet a deadline, please contact us as we may be able to escalate your application.

How do I bid at auction?

It’s common for buyers to bid with only pre-approval, which can be quite risky. Since auction sales are typically unconditional and final, you are required to pay your deposit immediately after the hammer falls. But with pre-approval, your lender hasn’t guaranteed to lend you funds, and could decline to lend (perhaps emotions ran high and you bid well over the top with an amount the lender was unprepared to lend you). Or, you can aim for full approval, where you provide the exact address. We’ll take you and your application as far as we can — we’ll validate everything, run our checks, and will be waiting with the rubber stamp. If (and only if) we were able to run an automated valuation (AVM) during the application, you’ve been fully approved and you can go to auction with maximum confidence. (It’s normal for the selling agent to be shocked when you tell them your bid is unconditional on finance — Tiimely Own's full approval is unique in the Australian market). If we can't run the AVM, you won’t be able to bid at auction with full approval. We’ll need to order a full or desktop valuation before we can fully approve you. Or, if you’ve got a signed purchase contract already, send it to us so we can use the value from that. There are a few scenarios where we won’t be able to run an AVM. If you require LMI, if you are purchasing a high density property, or if the property. — we won’t be able to run an AVM (sorry). Sometimes the property is just too obscure, or there’s not enough sales data on the suburb to run the AVM (looking at you, Thorngate SA). If you intend on using full approval to bid at an auction, let us know. Speak with your Credit Assessor or chat with our Home Loan Specialists on 1300 842 405, or through our LiveChat. We can help you through the process.

What doesfull approval with a Tiimely Own home loan look like?

If you’re ready, you’ll know exactly which property you want to purchase. Go further than conditional approval and apply for full approval.

To give our full approval for the property we need to confirm its value by doing one of two things: conduct a satisfactory valuation, which we can do instantly as part of our application with an automated valuation (AVM) OR if we’re unable to get an AVM, receive a signed copy of the purchase contract (once you’ve made an offer).

We’ll always try to conduct an AVM first where possible, because (as the name implies) it’s automatic and, like, scary-good accurate and way faster. Not all properties or applicants will be eligible for an AVM, so if we can’t conduct one on the spot, we’ll need to order a desktop or a full valuation. This will take slightly longer. If you’ve already got a signed purchase contract, we can usually skip the valuation step (unless you require LMI, or if your property is classed as “high density” — then we’ll need to order a full valuation).

P.S: you’ll pay nothing for the valuation, even if we have to order a full valuation. Tiimely Own absorbs the cost.

To apply for full approval, give us the exact address and complete the rest of the application. We’ll let you know where you stand by giving you an answer on the spot: it’s either a “yes”, a “no”, or a “we need more information”.

If it’s a “yes”

Once we fully approve your application, we really mean it. Your last hurdle will be signing the documents and then settlement.

If it’s a “no”

Each lender has their own lending criteria, and these are the basis for their credit decisions. When we assess a home loan application, we look at a number of different sources to decide if we can approve it.

There are a few reasons why your application may not have been approved, including:

• Your loan repayment capacity, taking into account your income, expenses, existing financial commitments, and the ratio of debt to your income.

• The nature and stability of your employment.

• Your credit history, which we obtained from Equifax and Illion.

• The value of your property compared to the size of your loan.

• The property linked to your application may not meet our specific credit criteria.

If we find a red flag as you’re filling out the application, we’ll let you know straight away so you don’t waste any more of life’s most precious commodity — time. We check for things like address eligibility, your credit history, your status as an Australian citizen or permanent resident, and of course your financials. We know that not everyone will be suitable for a Tiimley Own home loan. If you don’t meet our eligibility criteria, we’ll match your application (with your permission, of course) against our panel of lenders and 100s of exclusive Tiimely Home deals without you having to reapply.

If it’s a “we need more information”

If we need a little more information, we’ll refer your application to one of our Credit Assessors. This is where a member of our team will jump in to help bring your application up to scratch and over the line. Our Credit Assessors can usually move fast, and your application can sometimes be completed quite quickly, especially if you’re proactive in responding to their requests for more information.

Sometimes they’ll only need one or two things — some updated payslips or a bank account statement. Everyone’s unique, so if your specific situation is more complex than most, they might ask you to provide more detail. If you’ve chosen to validate your financials manually, they’ll typically need to request more information from you and it will take longer to assess your application. When you choose digital validation, they receive the exact same information, just much faster.

What if I don’t get the property?

Whether you had conditional approval and your offer didn’t interest the vendor (it can be competitive out there!), or if you had full approval and your settlement fell through for some reason — just let us know. If you want to continue house hunting, we can help. If you need to change the suburb you’re looking in, or if you’ve found a specific property, contact your Credit Assessor or speak to one of our Home Loan Specialists over LiveChat or on 1300 842 405. There’s no need to submit a new application (and incur multiple credit checks!). We can alter your existing application.

Read more about applying for a Tiimely Own home loan.

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

Sometimes we can hit delays if we need a little more information. Opting for manual financial validation instead of securely linking your accounts, submitting an incomplete application, or providing inaccurate estimates of your expenses (or any information regarding your income, expenses and debts which doesn't match your actual situation) may require manual work for you and our credit assessors. These things all slow us down significantly. So make sure you’re really ready before you apply.

Our rates have proven to be quite popular, so we receive large volumes of applications from time to time. During these times, it takes us a little longer than we’d like to assess and approve your home loan application, and we’ll be sure to communicate this in a timely manner. We’re continually growing our team and are working hard to keep up with demand.

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 turnaround times. You can chat with us over LiveChat or on 1300 842 405.

The home loan application process can be complex and time consuming and you may be unsure about whether you have the relevant documentation or whether your credit history is good enough to qualify you for a loan.

Even though we’ve streamlined things as much as we can, you may still have questions regarding;

• Eligibility - whether you qualify for a loan
• Credit checks - why they're needed and how they're carried out
• Interest rates - depending on whether you need a fixed or variable rate home loan
• Fees and charges - what are the upfront and ongoing costs?

Can't find what you're after in our FAQs? If you’d like more information about your home loan application or you aren’t 100% sure what we're on about, here are the ways we can help you;

• Livechat – just click on the chat box at the bottom right of the page and chat in real time to one of our home loan experts.
• Phone - sometimes it's best to talk it out and the ‘Let's talk’ button is always available at the top of the page if you need our contact details.
• Email – if you prefer, you can send us a written query any time at hello@tiimelyhome.com.au.

At Tiimely Home, we’ve used our ground-breaking tech to strip the cost and complexity from home loans and our world class customer service is doing the same for the application process.

Our all-star cast of home loan specialists are here to solve your problems 7 days a week. They have more than 100 years of combined experience between them and they’re just a mouse click, phone call or email away.

How long does it take for a home loan to be approved?

Generally we’re pretty quick, but the time it takes us to get to your application can change depending on how many applications we’re currently receiving and the complexity of your application.

After you apply, we’ll let you know if we’re experiencing any delays. Once we pick up your application for assessment, we start working towards approval. Things will move really fast here. If you’re ready and can respond quickly to requests from our Credit Assessors, you and your application will be fully assessed in no time.

The quickest we’ve ever fully approved an applicant from the time they submitted their application (including assessment, verification, and running all our digital checks) was 58 minutes.

Because our application process is entirely online, we’ve been able to streamline it right down to the basics. We reimagined home loans from the ground up, making it more efficient and easier to understand. Because home loans should be simple.

Once you’ve completed the application process, you’ll either be approved, politely declined, or referred to one of our home loan experts to fill in any blanks.

If you're approved, you'll get an email from us with next steps, along with your home loan contract. You’ll also get a settlement pack which will outline further steps such as getting an in-person ID check.

What may delay my home loan approval?

Sometimes we can hit delays if we need a little more information. Opting for manual financial validation instead of securely linking your accounts, submitting an incomplete application, or providing inaccurate estimates of your expenses (or any information regarding your income, expenses and debts which doesn't match your actual situation) may require manual work for you and our credit assessors. These things all slow us down significantly. So make sure you’re really ready before you apply.

Our rates have proven to be quite popular, so we receive large volumes of applications from time to time. During these times, it takes us a little longer than we’d like to assess and approve your home loan application, and we’ll be sure to communicate this in a timely manner. We’re continually growing our team and are working hard to keep up with demand.

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 turnaround times. You can chat with us over LiveChat or on 1300 842 405.

What happens if my application needs to be reviewed by a Credit Assessor?

If we need a little more information, we’ll refer your application to one of our Credit Assessors. This is where a member of our team will jump in to help bring your application up to scratch and over the line. Our Credit Assessors can usually move fast, and your application can sometimes be completed quite quickly, especially if you’re proactive in responding to their requests for more information.

Sometimes they’ll only need one or two things — some updated payslips or a bank account statement. Everyone’s unique, so if your specific situation is more complex than most, they might ask you to provide more detail. If you’ve chosen to validate your financials manually, they’ll typically need to request more information from you and it will take longer to assess your application. When you choose digital validation, they receive the exact same information, just much faster.

Are you ready to try a better way to do home loans? You can start the application process for your home loan here.

If you know from the outset that you’re not eligible for a Tiimely Own home loan, we encourage you to apply using our application form and we’ll direct you through to our in-house broker service. We’ll match your application (with your permission, of course) against our panel of 30+ lenders and 1000s of home loan options without you having to reapply. ​There’s no need to wait!

If you know you want a major bank loan from the outset, you can also opt-in to our in-house broker service during the ‘Your loan’ section in the application.

There are three ways Tiimely Home can value your property:

• Automated Valuation Model (AVM),
• desktop valuation, and
• full valuation.

What is an Automated Valuation Model (AVM)?

If our tech can get a good read on your property, we'll do an AVM, which means we will value your property instantly by analysing values of comparable properties. How? We've integrated external providers, existing property and land databases and our own tech models to get a very good estimate of the value of your property.

What is a desktop valuation?

If we can't value your property instantly, we'll need to do a desktop valuation or full valuation. A desktop valuation is when an accredited valuer uses publicly available information such as tax records and comparable sales in the area to work out a property's value.

What is a full valuation?

A full valuation is when we arrange for an independent and qualified valuer to inspect your property and issue a report with the valuation. This may be required if:

• You have less than 20% deposit
• The property is a high-density apartment

In a full valuation, the licensed appraiser visits the property, takes photographs and measurements, and evaluates the location, features, selling points and overall condition of the property.

The good news? You won't need to pay any valuation fees, because we pick up the cost.

The short answer is no. But you'll always have a highly competitive rate.

Think of it like this – when you get a Tiimely Own home loan, we’ve locked in a ‘price’ with our funder (Bendigo and Adelaide Bank) for that loan, which is reflected in your interest rate.

When we have a new variable rate for new customers, it means we’ve been able to lock in a lower price with our funder. It doesn’t change the price we secured for your loan. So, 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. It means our funder has been able to give us a better price at that specific time. At some point, our funder may actually increase the price they’ve agreed with us, which means the rates for new customers will go up. And some existing customers will be better off.

The new rate offers work differently to cash rate changes. If 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. The good news is, all of our rates are highly competitive because of our tech-driven proposition. 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.

The quickest we’ve ever fully approved an applicant from the time they submitted their application (including assessment, verification, and running all our digital checks) was 58 minutes.

Because our application process is entirely online, we’ve been able to streamline it right down to the basics. We reimagined home loans from the ground up, making it more efficient and easier to understand. Because home loans should be simple.

Generally we’re pretty quick, but the time it takes us to get to your application can change depending on how many applications we’re currently receiving and the complexity of your application.

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 turnaround times. You can chat with us over LiveChat or on 1300 842 405.

Despite common belief, you don't always need a middleman - you can complete our online home loan application all by yourself!

Tiimely Home's world-first technology allows you to apply for a home loan wherever you want, whenever you want. We perform the loan assessment utilising our technology and brilliant home loan experts' expertise - which is how we keep our rates an fees low and your savings high.

Our home loan application is simpler and easier, so we do things a bit differently from the traditional home loan process. Tiimely Home is a completely digital, 100% online application. Meaning you don't need to dress up and pop into a branch or go see a broker. To get started check over our eligibility, read up about what documentation you may need, and then you can start the application when you're ready.

Keep in mind: our application is the real deal. It's not just a form that captures your details so we can call you back later. We'll be assessing you in real time, running a real credit check, and asking you to verify your financial information.

It's a true DIY home loan. So go at your own pace, in your own time.

But, you don't have to go it alone. If you just want to have a chat, our all-star cast of home loan specialists are here to help 7 days a week.

All you need to do is apply, provide any information we need, post back loan docs and get your loan settled. Take a look at our application process here - it doesn't get any simpler than that! So let's get started.

Our eligibility criteria looks across a range of factors including:

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

Check our eligibility page to see if a Tiimely Own home loan, or a loan via our in-house broker service is best for you.

You’ll need the following things when buying your first home:

• A deposit for your home loan (usually 20% of your loan amount, or 10% if you pay LMI)
• Funds to pay for government and third party fees
• Your bank statements
• PAYG summaries
• Income statements
• Details of any other debt or financial responsibilities you currently have

To apply for a Tiimely Own home loan, have a look at our eligibility criteria to see if we could be a good fit. Then, take a look at our home loan options to see if any of our investor home loans suit you. When you’re ready, apply online. Our digital application should take around 15 minutes to submit.

Before you start, get a better idea of what to expect. Your application will take about 15 mins to complete. Be sure to have some key documents ready like a digital copy of your ID. When you’re confident and ready, just start our online application.

For a Tiimely Own home loan, you must be an Australian citizen or a permanent resident living in Australia to be eligible for a Tiimely Own home loan.

With Tiimely Home's in-house broker offering, there are some loan offerings where we require at least one applicant to have permanent residency status.

There are some lenders who will lend to foreign citizens or expat Australians living abroad and wanting to buy investment property in Australia, but there are usually higher interest rates attached to such loans and a larger deposit is often required.

Certain foreigners and visa holders may also be required to pay a surcharge on stamp duty and possibly land tax, depending on which state they want to purchase in.

To find out the other eligibility criteria you’ll need to meet when applying for a Tiimely Own or a Tiimely Home loan, visit our eligibility page.

Once you complete the online application, our real-time home loan approval process starts, checking your credit history and assessing your eligibility for a loan. We’ll let you know where you stand by giving you an answer on the spot: it’s either a “yes”, a “we need more information” or a “no”.

If it’s a “yes” for a Tiimely Own home loan.

Once we fully approve your application, you will need to sign the documents and then settlement — after that, the house is 100% yours.

Steps for buyers

If you’re approved to buy, you’ll typically have the green light to buy the named property up to a certain amount (just send us a copy of the contract when you sign it).

You'll get an email from us with next steps, along with your home loan contract (sign it and our digital conveyancer, MSA, will take it from here).

We’ll also send you a Settlement Pack which among other things, will ask you to get your identification verified (all the details will be in the email we send you).

Your conveyancer will then organise settlement directly with us on the appointed day and 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.

Your new Tiimely Own home loan will begin.

You’ll then throw a big party and celebrate becoming a home owner.

Steps for refinancing your home

Once your loan is approved, the steps for refinancing are similar to those for home buyers – the biggest difference is we pay off your existing loan with your old provider and your new Tiimely Own home loan will then be in place.

Your conveyancer organises settlement for you.

You can celebrate paying off your loan faster with lower repayments, thanks to our competitive rates.

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

If it’s a “we need more information”.

If we need a little more information, we’ll refer your application to one of our Credit Assessors. This is where a member of our team will jump in to help bring your application up to scratch and over the line. Our Credit Assessors can usually move fast, and your application can sometimes be completed quite quickly, especially if you’re proactive in responding to their requests for more information.

Sometimes they’ll only need one or two things — some updated payslips or a bank account statement. Everyone’s unique, so if your specific situation is more complex than most, they might ask you to provide more detail. If you’ve chosen to validate your financials manually, they’ll typically need to request more information from you and it will take longer to assess your application. When you choose digital validation, they receive the exact same information, just much faster.

If it’s a “no”

Please don’t be offended if we decline your application for a Tiimely Own home loan. There are many reasons we might have to do this. We wish we could tell you specifically why sometimes, but we're not allowed to disclose the exact reason for declining an application.

If we find a red flag as you’re filling out the application, we’ll halt it and let you know straight away so you don’t waste any more of life’s most precious commodity — time. We check for things like address eligibility, your credit history, your status as a citizen or permanent resident, and of course your financials.

We know that not everyone will be suitable for a Tiimely Own home loan. However, we’ll let you know if there’s a better fit with one of our partner lenders. If you don’t meet our eligibility criteria for a Tiimely Own home loan, we’ll match your application (with your permission, of course) against our panel of 30+ lenders and 1000s of home loan options without you having to reapply. Learn more about our in-house broker service.

After full approval, here is generally how it works:

If you’re buying a property for yourself, we pay the seller the agreed price and your home loan begins.

If you’re refinancing, we pay out your existing lender and your new loan begins.

Then you’ll sign the contract for your new home, pay your deposit to the agent and confirm your final settlement date, which is usually 30 – 60 days.

Other things you’ll need to take care of include building insurance for your new property, organising for the utilities to be switched over on settlement day and having your mail redirected.

Then the only thing left is to wait for the phone call, grab your new keys and celebrate!

First, we’ll ask you some questions about how much you think your monthly expenses are.

Then, when you link your accounts or upload your financial statements, we'll validate your stated expenses by comparing them to what's coming in and out of your accounts. Our platform can do this digitally using our data models, which makes Tiimely Home a leading responsible lender. If you're a low spender, we use an Australian average expenditure benchmark called the Household Expenditure Measure (HEM) as a baseline for what your household would typically spend. This was developed by the clever humans at the Melbourne Institute of Applied Economic and Social Research.

What do we do with that information? We use it to make sure you can afford to repay the loan. Which you’ll thank us for later.