The novel titanium alloy TIMETAL® 407 (Ti-407) has been developed as an alternative to Ti-6Al-4V (Ti-6-4), for applications that demand relatively high ductility and energy absorption. Demonstrating a combination of lower strength and greater ductility, the alloy introduces a variety of cost reduction opportunities, including improved machinability. Thermo-mechanical processing and its effects on microstructure and subsequent mechanical performance are characterised, including a detailed assessment of the fatigue and crack propagation properties. Demonstrating relatively strong behaviour under high-cycle fatigue loading, Ti-407 is nevertheless susceptible to time-dependent fatigue effects. Its sensitivity to dwell loading is quantified, and the associated deformation and fracture mechanisms responsible for controlling fatigue life are explored. The intimate relationship between thermo-mechanical processing, micro-texture and fatigue crack initiation through the generation of quasi-cleavage facets is highlighted. Consistent fatigue crack growth kinetics are demonstrated, independent of local microstructure.