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Tic:Toc Investor Interest-Only Variable Rate Home Loan
Investors can maximise their tax effectiveness with this interest-only home loan.
The Tic:Toc Investor Interest-Only Variable Rate Home Loan offers investors a way to maximise their tax deductible debt by paying only the interest portion of their loan. It also offers some helpful features and the ability to make extra repayments.
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Review by
Adam Smith
adam.smith@finder.comAdam Smith was the home loans editor at Finder.
Expert review
The Tic:Toc Investor Interest-Only Variable Rate Home Loan is available to investors in residential property.
About this loan
What are the feature and benefits of the Tic:Toc Investor Interest-Only Variable Rate Home Loan?
- Loan amount and purpose. The Tic:Toc Investor Interest-Only Variable Rate Home Loan is only available to investors who are purchasing residential property. It has a minimum loan amount of $50,000 and a maximum loan amount of $2,000,000.
- Loan-to-value ratio. The Tic:Toc Investor Interest-Only Variable Rate Home Loan has a maximum LVR of 80%.
- Repayment frequency. Repayments must be made monthly. It's important to remember that interest-only repayments won't reduce the principal amount. However, you can make as many additional repayments as you like towards the principal.
- Redraw facility. If you've made additional repayments towards the loan principal, the Tic:Toc Investor Interest-Only Variable Rate Home Loan allows you to withdraw these funds using the redraw facility. Keep in mind that there's a minimum redraw amount of $500.
- 100% offset account. The Tic:Toc Investor Interest-Only Variable Rate Home Loan offers a 100% offset account for an additional $10 per month.
What fees and charges come with this loan?
- Discharge fee: $325. This fee is charged when you close your home loan account, either by repaying your loan or refinancing.
How to apply
If you're interested in the Tic:Toc Investor Interest-Only Variable Rate Home Loan you can click the link below. You'll be redirected to the Tic:Toc website where you'll be walked through the quick, 20-minute application process.
