Tiimely Own (formerly known as Tic:Toc) Investor Interest-Only Variable Rate Home Loan

Investors can maximise their tax effectiveness with this interest-only home loan.

The Tiimely Own 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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By

Richard Whitten

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Review by

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206) and a Tier 1 Generic Knowledge certification (RG 146).

Expert review

The Tiimely Own 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 Tiimely Own Investor Interest-Only Variable Rate Home Loan?

  • Loan amount and purpose. The Tiimely Own Investor Interest-Only Variable Rate Home Loan is only available to investors who are purchasing or refinancing a residential property; it is not available for commercial properties. It has a minimum loan amount of $50,000 and a maximum loan amount of $2,000,000.
  • Loan-to-value ratio. The Tiimely Own 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 Tiimely Own 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 Tiimely Own 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 Tiimely Own Investor Interest-Only Variable Rate Home Loan you can click the link below. You'll be redirected to the Tiimely website where you'll be walked through the quick, 20-minute application process.

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2 Comments

    Default Gravatar
    Rodney
    February 26, 2023

    Is this loan available as a re-finance?

    Reply
      AvatarFinder
      Sarah
      February 27, 2023

      Hi Rodney,

      Yes this loan is available for new purchases and refinances, for residential property.

      Hope this helps!
      cheers
      Sarah

      Reply
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