Because the exploding onto Australia’s mortgage , Athena has enticed borrowers featuring its wonderfully-low home loan rates, no-rubbish messaging and you will a proven reputation for fast passing to your main bank price slices in full to the users.
The latest founders, Nathan Walsh (CEO) and you will Michael Starkey (COO), discover a good piece regarding it place, which have one another in past times struggled to obtain among large four banks – National Australian continent Lender (NAB).
Speaking to during the 2019, Chief executive officer Nathan Walsh told you Athena will shake up the major four’s oligopoly with the home loans.
“I do believe that this is actually the next in which people are very sobbing out for an option in the built heritage participants,” Mr Walsh told you.
“We are worried about providing Aussies pay their house mortgage quicker and you will rescuing by themselves a container load in the act.”
Just what lenders do Athena provide?
They started off just giving adjustable-speed home loans to existing consumers seeking re-finance, however the low-financial lender’s items are currently available to possess homebuyers also. Athena along with also provides repaired-price home loans having words between that three years.
However, being qualified to own an enthusiastic Athena financial needs borrowers to have in the least an effective 20% deposit or equity, whilst simply now offers mortgage brokers at loan-to-worthy of percentages (LVRs) away from 80% or smaller.
Redraw studio
Probably one of the most attributes of Athena’s mortgage brokers is their redraw studio, that provides property owners the ability to set too much money in while having they counterbalance resistant to the loan’s harmony.
“It is far from prepared because the a deposit membership. The key section there’s we’re happily maybe not a lender and you will we will never be,” Mr Walsh told you.
“Very giving individuals who safer access to money if you want they for the a charge-free account we believe try an incredibly powerful feature and one one to becomes us a lot of great responses out of customers.”
Increases
Distinctively, Athena’s changeable-rate lenders provides a feature called ‘AcceleRATES’ in which, as you lower your loan, your rate of interest is actually instantly lowered so you can echo the latest LVR tier your end up in. You will find around three tiers – ‘Liberate’ (70-80% LVR), ‘Evaporate’ (60-70% LVR) and you can ‘Celebrate’ (60% LVR otherwise down), which have ‘Celebrate’ having the reasonable rates.
Automatic rates meets
Athena was also the initial financial around australia so you’re able to mention exactly what it phone calls an ‘automatic rates match’ where established clients are never ever recharged large rates than simply new clients to the particularly-for-such fund. Concurrently, users can also be score a good 0.01 fee point write off for every of your first five years of the mortgage by to make their costs punctually.
No Charges
Athena costs no charge to be a customers. Meaning zero software fee, monthly fee, yearly percentage, redraw percentage, or any other types of commission. Although not, Athena could possibly get bequeath the costs off cracking a fixed mortgage package. Plus, alternative party fees can apply when refinancing, to shop for property – but these aren’t energized by Athena.
Versatile money
Athena people can make fortnightly rather than month-to-month costs, as well as can make extra payments as often just like the they had such as. Both of these choices can save you time and money from the life span of one’s loan.
Once the a keen Athena customer, you might spend your paycheck into your home financing account and you will lower your residence loan shorter.
Small refinancing
Athena made its term by the trembling within the refinancing area, as well as do it easily. Refinancing usually takes as low as ten minutes loans in Foley (to get conditional acceptance). Waits can invariably occur based their financial/other affairs.
Free possessions report
Athena offers a free possessions statement which have comprehensive facts about your household, particularly projected worth and you will current conversion history.