FAQs

Of course you can.

Changing loan type

Switching from a variable loan is easy - that's the beauty of a variable rate. To switch from a Tiimely Own variable rate to a Tiimely Own fixed rate, you'll need to cover a variation fee of $150.

Switching from a fixed rate during the fixed term is a little trickier. There will be break costs associated that are specific to your loan, and they can be expensive. If you want to find out how much, let's talk.

To switch loan type, give us a call on 1300 842 405 on Monday to Friday and 08 7109 9010 on (Saturdays) or email us anytime.

Adding or removing an offset account

If you decide after you get your home loan that you'd like an offset account, you can add one to your existing home loan for a fee of $150. If you are on a fixed rate an additional break cost will also apply. Removing an offset account from your existing home loan will incur the same fees.

To add or remove an offset account, give us a call on 1300 842 405 on Monday to Friday and 08 7109 9010 on (Saturdays) or email us anytime.

Click here to learn more about offset accounts, and how they differ from redraw facilities.

Buying a new home

Want to buy a new home with Tiimely Home? You can use our online application or since you're already a customer, give us a call and we can talk you through it.

Topping up your home loan to release cash

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

For more information about how this works, read up on how to refinance your way to the perfect renovation.

Leaving us?

We'd love to know why you're leaving. Please call us on 1300 842 405 so we can see if there's anything we can do to help, or to simply assist you with the process to end your loan.

Tiimely Home will work through any pricing changes with our funder, Adelaide and Bendigo Bank. If we change our pricing, impacted customers will receive a letter from Adelaide and Bendigo Bank outlining their new rate, repayment amount, and effective date.

We'll also provide updates via our website when we have all the relevant information.

Using your Tiimely Own Visa Debit card

If you’ve chosen to have an offset account, you’ll be sent a Tiimely Own Visa Debit card, so you can use it to spend your savings. Carefully, of course.

A few things to know:

• You can use your Tiimely Own card anywhere, including the 29,000 ATMS across Australia, and over 2,000 Bendigo Bank and Suncorp ATMs (with no transaction fee charge)
• You can use it to buy stuff, as you would with any other Visa Debit or EFTPOS card
• It’s a fast and very secure way to perform transactions
• The following features aren't available (yet): Apple or Google Pay, OSKO or PayID - we're working on it

Making repayments

Making repayments is the un-fun part of having a home loan. But at least we can make it uncomplicated.

You can make repayments on the Bendigo Bank loan portal by;

• Direct debit (‘AnyPay’)

The most painless way to pay off your home loan. It’s simply a direct debit you can set up through your online 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 think twice about it.

• BPAY

You can use BPAY to schedule your home loan repayments too. Using the online banking portal, we’ve made the management of your BPAY payments easier with the following features:

• View all your BPAY payments previously created and those scheduled for a later date within the ‘Pending BPAY Payments’ screen
• View all your BPAY payment records created for easier 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 to your home loan. With Tiimely Own, you can do this whenever you want for free, using online banking.

How? Just select your home loan as the ‘From account’ when performing a funds transfer. You can transfer to another account, like a savings account, and it should be available to withdraw within 2 business days.

If you have an offset account, transfer the cash there, and you can use your Tiimely Own 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
• When performing a redraw, you (and your plus one) need to authorise the transaction. If this is annoying, and you want to allow individuals to transact independently, please give us a call on 08 7109 9010.

Find your nearest ATM

You’ll need to give us a call to change the following:

• Change your main phone number
• Change your residential address
• Reset your online banking password

As an existing customer, you can talk through your requirements with our in-life team (option 3 when you call 1300 842 405). A lending specialist will review your request and current financial situation (similar to applying for a loan) before approving an equity release or top-up.

The statements you receive are set to be paper statements by default, but you can change it to an e-statement through online banking:

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

Your monthly repayments will be mentioned in your contract. If there are any rate changes that affect you, your new monthly repayments will be sent to you in the mail. You can also check your monthly repayment amount online, it can be found under the “Loan Account Information” link on your Online Banking.

If you’re ahead on your repayments or you've made a bulk payment, you can have your minimum contribution recalculated by the in-life team. Keep in mind access any additional funds you've made and accumulated in your redraw account won’t be available anymore if you proceed. There is also a recalculation fee of $50.

Once you complete the online application, our real-time home loan approval process fires up, checking your credit history and assessing your eligibility for a loan.

Once completed, you will either be:

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

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 throw a big party to celebrate paying off your loan faster with lower repayments, thanks to our super low rates.

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

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

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.

$1,000.

This limit can’t be changed.

If you’ve moved into your investment property and become an owner-occupier, you’ll need an owner-occupier home loan. If you’re already an existing customer you’ll need to contact our post settlement team either by email or phone.

And if you’re a new customer, you’ll need to refinance your home loan but you’ll be applying for an owner-occupied home loan instead of an investment. You also don’t need to record your rental income for that property in the application.

Your loan statements are sent out monthly. You may choose to receive them electronically via email or by post. If you wish to change your delivery preference, you may update it online in the Preferences tab of your Online Banking.

Yes, you will need to notify your lender and convert your owner-occupied home loan to an investment home loan if you decide to rent it out.

Be assured there are options available to help, but what exactly is financial hardship? It’s when you’re finding it hard to make your loan repayments.

When financial hardship comes up it’s often associated with an unexpected change in your circumstances. These changes could include job loss or reduced hours, a relationship change, a family death or major illness, or a natural disaster. These are major life events and can affect your finances.

If you have trouble keeping up with your loan repayments, you can call our funder, Bendigo and Adelaide Bank, on 1800 652 146 and talk to a member of their Mortgage Help team. The sooner you contact them, the sooner they can try to help you.

The team member you speak with will consider your personal circumstances and suggest the most suitable option for your situation. The kinds of things that they’ll consider are your income and expenses, your assets and debts, and what’s likely to happen in the future. They may offer any of the following options depending on your situation:

• Pausing or reducing your payments for a set time period
• Extending your loan period so that you can lower your repayments and pay off your loan over a longer period.

The sooner you contact the bank’s Mortgage Help team, the more options they are likely to have to help you.

These useful resources are also available:

• Money Smart – a federal government initiative with free tools, tips and guidance to help Australians take control of their money. It also includes information on government support and other support organisations. Visit moneysmart.gov.au.
• National Debt Helpline – you can call them on 1800 007 007 to speak to a financial counsellor and their website (ndh.org.au) has easy to use, step-by-step guides on how to tackle debts.

There are a couple of ways you can make your loan repayments. If you have an offset account, repayments will be deducted from it. If you don’t have an offset account, you can fill in the Loan Repayment Authority form that comes in your settlement pack and set up a direct debit for your repayments.

You can do any of the following by yourself, anytime by logging into your online banking:

• Change your online banking password
• Change your daily limits for online banking
• Set up automatic payments
• Request redraws
• Make one-off payments
• Change your email address
• Change statement preference (i.e. switch from paper statements to online)
• Transfer funds from your offset account to your home loan redraw account

Login to your online banking, here.

Setting up online banking

1. If you haven’t registered already, call 08 7109 9010 so we can help you set it up. Make sure you have your Customer Number and account details ready (because we hate wasting time). You’ll find this on an email from Tiimley Own or in your settlement pack.
2. Login above, using your Customer Number and the temporary password we’ve given you.
3. You’ll be prompted to change your password.

If you’ve forgotten your password or Customer Number, give us a call on 08 7109 9010.

Redrawing on your Tiimely Own home loan is simple. Just select your home loan as the ‘From account’ when performing a funds transfer. Then, if you have an offset account, transfer the cash there and use your Tiimely Own Visa Debit card to immediately access the funds. Or you can transfer the cash to another account and withdraw it in up to two business days.

What is a redraw facility?

Redrawing simply means accessing any extra payments you’ve made on your home loan. With Tiimley Own, you can do this whenever you want for free, using online banking.

Home loan redraw pros and cons

A redraw facility can be handy to have if you ever need cash at short notice to cover unexpected bills. Making extra payments also reduces the interest you pay on your home loan, earning you more than you would in a savings account and without the tax.

On the other hand, some lenders limit the number of extra payments you can make on your home loan in a certain period or how much you can redraw at any one time. A redraw facility is also not usually offered with fixed interest or interest only loans.

Things to know about Tiimely Own redraw

• 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.
• You need to be one month ahead (you can redraw any additional funds paid beyond the current month).
• The minimum redraw amount is $1 per transaction.

When accessing a redraw where there is more than one person on a loan, you (and your plus one) both need to authorise the transaction. If this is inconvenient for you and you would both rather transact independently. Please contact us.

You can get more information about your online banking here. There's a handy online banking demo and all the information you need to get started. Plus loads more information!

If you still need assistance, give Adelaide Bank a call on 1300 135 481.

While the funds for our Tiimely Own home loans come from Bendigo and Adelaide Bank, you will be a ‘Tiimely Own customer’.

This means you’ll deal with us, but we do get some help from the bank. We work with the bank to manage our in-life customer experience, so you'll use an online portal powered by Bendigo and Adelaide Bank to make repayments and access your offset account, and the bank will typically process any loan changes you may want to make.

Yes, if you are on a variable rate you can make unlimited extra repayments. If you are on a fixed rate you can make repayments up $20,000 p.a. You can make extra repayments online by transferring the funds to your home loan account – just like any other bank transfer!

Yes. Follow these steps to change your online banking limits:

Click on My profile > Limits > Actions > Edit

An offset account is like a savings account that’s linked to your home loan which offsets the balance of your home loan, so you only pay interest on the home loan balance minus the amount in your offset account. If you have a decent balance in your offset account, you could save thousands of dollars in interest over the life of your loan.

We offer 100% offset accounts with all of 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 into it and withdraw from it any time to pay bills or for day-to-day expenses.

The thing to remember is that the more you have in your offset account, the less interest you are paying on your home loan, so the more you can keep in there without withdrawing, the better off you will be.

Your money is protected

Your offset account is maintained by our funder, Bendigo and Adelaide Bank, who are 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 instead. Our offset accounts include;

• A Tiimely Own Visa Debit card which you can use like any other Visa Debit or EFTPOS card, including at any Suncorp or Bendigo ATM free of charge.
• A BPAY facility to make bill payments and a swipe option to make transactions at retail stores.
• Deposit and debit features just like a normal bank account.

Adding or removing offset account

If you decide after you get your home loan that you'd like an offset account, you can add one to your existing home loan for a fee of $150. If you are on a fixed rate an additional break cost will also apply. Removing an offset account from your existing home loan will incur the same fees.

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

Click here to learn more about offset accounts, and how they differ from redraw facilities.