Just like the bursting onto Australia’s mortgage , Athena provides seduced individuals using its beautifully-low financial interest rates, no-rubbish chatting and you will a verified reputation for swiftly passing on the central financial rates incisions in full so you’re able to the consumers.
The fresh new founders, Nathan Walsh (CEO) and Michael Starkey (COO), know a reasonable bit about it place, having one another in earlier times struggled to obtain one of several big five banks – National Australia Lender (NAB).
Talking to when you look at the 2019, President Nathan Walsh said Athena aims to shake up the major four’s oligopoly into home loans.
“I believe that is an additional in which folks are most whining away getting an alternative about centered heritage players,” Mr Walsh said.
“We’re worried about helping Aussies pay their residence mortgage smaller and protecting themselves a bucket weight in the act.”
Exactly what lenders really does Athena bring?
It started out merely providing varying-rate home loans so you can present individuals seeking refinance, however the non-lender lender’s items are available today to have home buyers as well. Athena along with also offers fixed-rates mortgage brokers with words anywhere between one to 3 years.
Yet not, qualifying for a keen Athena mortgage requires consumers for at the very least a beneficial 20% deposit otherwise security, since it merely offers home loans on mortgage-to-worthy of percentages (LVRs) out of 80% otherwise reduced.
Redraw studio
One of the most features of Athena’s lenders was the redraw business, that gives homeowners the chance to put an excessive amount of cash in and now have it offset contrary to the loan’s equilibrium.
“It is really not planned because the a deposit membership. An important part discover we have been proudly maybe not a bank and i will not be,” Mr Walsh said.
“Thus providing individuals who safer entry to money if you want it during the a charge-free membership we believe are an extremely compelling function and one one to will get united states enough high reactions regarding consumers.”
Increases
Distinctively, Athena’s adjustable-speed lenders features a feature called ‘AcceleRATES’ where, since you lower the loan, their interest rate are instantly reduced to mirror the latest LVR tier your get into. You can find three sections – ‘Liberate’ (70-80% LVR), ‘Evaporate’ (60-70% LVR) and you may ‘Celebrate’ (60% LVR otherwise lower), that have ‘Celebrate’ obtaining the low pricing.
Automatic price meets
Athena has also been the initial lender around australia to declare what they phone calls an ‘automatic speed match’ in which current clients are never ever billed higher bad credit loans Lipscomb pricing than simply clients on the such-for-eg funds. At the same time, users is rating a 0.01 percentage part write off each of earliest 5 years of its loan by simply while making the payments on time.
No Charge
Athena charge zero costs to be a customers. It means no app commission, monthly fee, annual percentage, redraw payment, or other style of commission. But not, Athena can get give the expenses out-of cracking a fixed loan deal. In addition to, alternative party fees can put on whenever refinancing, to shop for a home – nevertheless these commonly recharged from the Athena.
Versatile payments
Athena customers makes fortnightly instead of month-to-month costs, and additionally they can make additional payments as often because they’d such as for instance. These two choices will save you money and time off living of one’s mortgage.
Since the an Athena consumer, you could pay your paycheck directly into your home financing membership and you will pay down your home financing reduced.
Short refinancing
Athena produced its title of the shaking within the refinancing space, and additionally they do it quickly. Refinancing takes as little as 10 minutes (to get conditional approval). Waits can invariably are present based on your own lender/other facts.
Free property statement
Athena also offers a totally free possessions declaration having detailed factual statements about the family, such as for example estimated well worth and you can latest transformation record.
