Due to the fact bursting on to Australia’s home loan , Athena provides lured consumers using its wonderfully-reduced financial rates of interest, no-junk chatting and you may a verified history of fast passage towards main financial speed slices completely in order to the consumers.
The newest founders, Nathan Walsh (CEO) and you may Michael Starkey (COO), understand a fair piece regarding it space, with both in the past worked for among larger five financial institutions – National Australia Bank (NAB).
Speaking to from inside the 2019, Chief executive officer Nathan Walsh said Athena aims to shake-up the major four’s oligopoly with the home loans.
“I think that the are the second in which people are most sobbing aside having an option regarding mainly based history loans Headland AL members,” Mr Walsh told you.
“Our company is focused on providing Aussies pay-off their property loan quicker and you may protecting by themselves a bucket stream along the way.”
Exactly what mortgage brokers does Athena provide?
They started out only offering varying-price home loans so you’re able to current individuals trying refinance, nevertheless the non-financial lender’s goods are available having homebuyers too. Athena including has the benefit of repaired-rate mortgage brokers having terms ranging from you to 3 years.
Yet not, qualifying to have a keen Athena financial demands individuals to possess at the minimum a beneficial 20% deposit or collateral, because merely has the benefit of lenders at loan-to-worthy of rates (LVRs) away from 80% otherwise faster.
Redraw facility
One of the most top features of Athena’s home loans try their redraw facility, that gives people the opportunity to place too-much money in and possess it counterbalance from the loan’s equilibrium.
“It’s not structured given that in initial deposit account. The primary point there is our company is proudly maybe not a bank and i will never be,” Mr Walsh told you.
“So giving people that secure entry to money when you require it into the a fee-free membership we feel is a highly powerful element and one one becomes us lots of higher responses out-of consumers.”
Boosts
Exclusively, Athena’s adjustable-rate lenders features a feature called ‘AcceleRATES’ where, because you lower the loan, your interest rate try instantly reduced so you’re able to reflect the fresh LVR level your end up in. You will find around three levels – ‘Liberate’ (70-80% LVR), ‘Evaporate’ (60-70% LVR) and you will ‘Celebrate’ (60% LVR otherwise lower), having ‘Celebrate’ having the lower rates.
Automatic rate fits
Athena has also been the initial lender around australia in order to announce just what they phone calls a keen ‘automatic rate match’ in which current clients are never ever recharged large pricing than new customers towards particularly-for-instance loans. Likewise, users can also be get a 0.01 payment point disregard per of earliest five years of its mortgage by and make the repayments punctually.
Zero Fees
Athena charge zero charge if you are a buyers. That means no app payment, monthly fee, yearly commission, redraw payment, and other kind of fee. Although not, Athena can get pass on the costs regarding cracking a fixed loan offer. And, third party costs can put on when refinancing, to invest in a home – nevertheless these commonly energized because of the Athena.
Flexible costs
Athena people helps make fortnightly in lieu of monthly repayments, as well as produces additional money normally while the that they had particularly. Those two possibilities could save you time and money of living of your own mortgage.
Given that a keen Athena customers, you can shell out your own income in to your home financing account and reduce your property mortgage reduced.
Quick refinancing
Athena generated its identity by the moving up the refinancing room, and so they exercise quickly. Refinancing usually takes as little as ten minutes (to get conditional approval). Delays can always exists based your financial/almost every other factors.
100 % free assets declaration
Athena has the benefit of a free of charge possessions statement that have extensive details about the house, such as for instance estimated value and you can present transformation records.
