While the bursting onto Australia’s home loan , Athena have lured borrowers along with its attractively-low mortgage rates, no-junk chatting and a proven history of fast passageway into main lender rate slices completely so you’re able to the consumers.
The fresh founders, Nathan Walsh (CEO) and you may Michael Starkey (COO), see a good bit about this room, with both before struggled to obtain among the huge five banks – Federal Australian continent Bank (NAB).
Talking with when you look at the 2019, President Nathan Walsh told you Athena will shake-up the big four’s oligopoly toward home loans.
“I do believe this particular are an extra in which folks are extremely whining out to possess an option in the established history professionals,” Mr Walsh told you.
“We have been worried about permitting Aussies pay-off their house financing smaller and you can rescuing by themselves a container weight in the process.”
What mortgage brokers really does Athena bring?
They started out only giving varying-speed lenders so you can existing consumers trying refinance, although low-bank lender’s items are available today to have homebuyers as well. Athena and additionally now offers fixed-price home loans with terms and conditions ranging from you to definitely 36 months.
Yet not, qualifying having an enthusiastic Athena financial needs consumers to have within least an effective 20% put or security, because it simply has the benefit of home loans during the mortgage-to-value rates (LVRs) of 80% otherwise less.
Redraw studio
Perhaps one of the most features of Athena’s lenders is the redraw business, which provides home owners the opportunity to place extreme money in and also have they offset resistant to the loan’s harmony.
“It’s not planned as the a deposit membership. The primary section there can be we’re with pride maybe not a lender and you will we never will be,” Mr Walsh told you.
“Thus providing those who safer the means to access currency when you need they when you look at the a charge-100 % free account we feel try an incredibly compelling function plus one you to gets you numerous great responses from consumers.”
Boosts
Uniquely, Athena’s variable-price lenders has a feature titled ‘AcceleRATES’ where, because you lower your loan, your own rate of interest are automatically decreased so you’re able to mirror the newest LVR tier your belong to. You can find about three levels – ‘Liberate’ (70-80% LVR), ‘Evaporate’ (60-70% LVR) and you may ‘Celebrate’ (60% LVR otherwise lower), that have ‘Celebrate’ obtaining reduced cost.
Automatic rates meets
Athena has also been the original lender around australia so you’re able to declare what they calls an enthusiastic ‘automatic price match’ where established customers are never ever energized highest costs than just new clients with the particularly-for-eg financing. At the same time, people is rating a great 0.01 fee section write off for every single of one’s first five years of its loan by simply to make the money timely.
No Charge
Athena costs zero charges for being a buyers. This means zero application fee, monthly fee, yearly percentage, redraw fee, and other version of commission. Although not, Athena can get give the costs out-of breaking a fixed mortgage bargain. And additionally, 3rd party costs can put on whenever refinancing, to shop for a property – however these aren’t billed of the Athena.
Versatile money
Athena consumers helps make fortnightly rather than monthly money, and they can make even more repayments as much because the they had like. Both of these selection could save you time and money regarding the life of one’s financing.
Once the an Athena customers, you could potentially spend their paycheck in to your residence mortgage account and you may pay down your property financing faster.
Brief refinancing
Athena made their term from the shaking up the refinancing area, and get it done easily. Refinancing takes as low as ten minutes (to get conditional recognition). Waits can invariably can be found based the financial/almost every other issues.
Free possessions report
Athena has the benefit of a totally free possessions declaration with extensive information regarding the home, such as for instance estimated value and latest transformation history.
