As the exploding onto Australia’s home loan , Athena enjoys lured individuals with its wonderfully-low mortgage interest rates, no-nonsense chatting and a proven reputation for swiftly passing on central financial rate slices in full so you’re able to its consumers.
The latest founders, Nathan Walsh (CEO) and you will Michael Starkey (COO), know a good section about any of it room, with one another previously worked for one of several big four finance companies – National Australian continent Financial (NAB).
Talking with within the 2019, President Nathan Walsh said Athena aims to shake up the major four’s oligopoly towards the mortgage brokers.
“I believe this particular is actually the next in which individuals are extremely sobbing aside to have an option in the based history players,” Mr Walsh told you.
“The audience is focused on permitting Aussies pay their residence mortgage less and you may saving on their own a bucket weight along the way.”
What home loans do Athena promote?
They began simply giving adjustable-price mortgage brokers in order to present borrowers seeking refinance, nevertheless the non-lender lender’s items are available to have home buyers also. Athena including offers fixed-rate lenders which have terms and conditions anywhere between you to 3 years.
Yet not, qualifying for a keen Athena home loan means consumers to have in the least a 20% put otherwise security, because payday loans Littleville it merely now offers mortgage brokers on mortgage-to-well worth ratios (LVRs) away from 80% otherwise smaller.
Redraw business
Probably one of the most popular features of Athena’s lenders is actually the redraw facility, that gives homeowners the chance to put too-much cash in and have they offset contrary to the loan’s harmony.
“It isn’t planned as the in initial deposit account. The key section there was we have been proudly perhaps not a lender and you will we never will be,” Mr Walsh told you.
“Thus offering people who secure accessibility currency when you really need they for the a fee-100 % free membership we believe is actually a highly compelling feature and one you to becomes us numerous higher responses from consumers.”
Speeds up
Exclusively, Athena’s variable-price mortgage brokers enjoys an element called ‘AcceleRATES’ where, since you pay down your loan, your interest try automatically reduced so you’re able to mirror new LVR level you end up in. There are about three tiers – ‘Liberate’ (70-80% LVR), ‘Evaporate’ (60-70% LVR) and you may ‘Celebrate’ (60% LVR or all the way down), that have ‘Celebrate’ obtaining the lower costs.
Automatic rates matches
Athena has also been the first lender in australia to announce what it calls a keen ‘automated rates match’ where existing clients are never ever energized large pricing than clients for the including-for-such as loans. Simultaneously, consumers normally rating a beneficial 0.01 payment part disregard for every single of one’s first five years of their mortgage by and make their costs on time.
No Fees
Athena fees zero costs if you are a customer. It means zero application payment, fee every month, annual fee, redraw fee, or other particular fee. However, Athena will get bequeath the costs out-of cracking a fixed mortgage deal. Together with, third party costs can put on when refinancing, to buy a house – nevertheless these commonly charged from the Athena.
Flexible costs
Athena people makes fortnightly rather than monthly repayments, and additionally they renders more costs as much just like the that they had such as for example. These choice can save you time and money off the life of financing.
Just like the an Athena consumer, you could potentially shell out your own paycheck into your residence loan membership and lower your property mortgage shorter.
Small refinancing
Athena produced the identity by the trembling in the refinancing space, in addition they get it done rapidly. Refinancing usually takes only ten minutes (to get conditional acceptance). Delays can always occur based on your lender/almost every other items.
Totally free property statement
Athena also provides a free of charge possessions report that have detailed facts about your own domestic, for example projected well worth and you will recent conversion process record.
