Since the bursting to Australia's home loan , Athena have seduced borrowers along with its beautifully-low mortgage interest rates, no-nonsense chatting and you may a proven history of swiftly passageway on the central financial price cuts entirely to their customers.
Brand new founders, Nathan Walsh (CEO) and Michael Starkey (COO), know a reasonable section about this space, with each other in past times struggled to obtain one of many huge four banking institutions – National Australia Financial (NAB).
Talking with for the 2019, President Nathan Walsh said Athena is designed to shake-up the top four's oligopoly toward lenders.
“In my opinion that is another in which individuals are most whining away getting an alternative from the founded legacy professionals,” Mr Walsh said.
“We have been worried about providing Aussies pay back their residence mortgage reduced and you will preserving themselves a bucket load along the way.”
What lenders do Athena render?
They began only giving changeable-speed mortgage brokers so you're able to existing borrowers trying refinance, nevertheless the non-lender lender's goods are currently available for homebuyers as well. Athena and has the benefit of repaired-rate lenders having words ranging from one three years.
But not, qualifying having a keen Athena home loan needs borrowers to own in the least an excellent 20% put otherwise collateral, since it only has the benefit of mortgage brokers within financing-to-value rates (LVRs) out of 80% otherwise less.
Redraw facility
One of the most attributes of Athena's lenders try their redraw studio, that offers property owners the opportunity to place continuously money in and then have it offset contrary to the loan's harmony.
“It isn't structured because a deposit membership. The key part there was we're proudly maybe not a bank and you will i never will be,” Mr Walsh told you.
“Therefore offering those who safe the means to access money when you need they when you look at the a charge-free membership we feel try an extremely powerful element plus one one gets all of us numerous high reactions out-of customers.”
Increases
Uniquely, Athena's changeable-price home loans features a feature titled ‘AcceleRATES' where, as you lower your loan, your own interest try immediately decreased so you're able to echo the fresh LVR tier your get into. You will find around three sections - ‘Liberate' (70-80% LVR), ‘Evaporate' (60-70% LVR) and you may ‘Celebrate' (60% LVR otherwise straight down), with ‘Celebrate' obtaining lower prices.
Automated rates meets
Athena was also the initial lender around australia in order to declare what it phone calls a keen ‘automated speed match' in which current clients are never billed large cost than simply new clients for the such-for-including funds. At the same time, people can be rating a 0.01 fee area disregard per of your own basic 5 years of the financing by simply and work out their repayments on time.
Zero Charges
Athena charge zero fees if you are a customers. This means no software fee, monthly fee, annual commission, redraw commission, or any other version of percentage. However, Athena will get give the costs away from cracking a fixed financing package. Also, alternative party charges can put on when refinancing, to order a home - however these commonly charged by Athena.
Flexible costs
Athena customers renders fortnightly as opposed to month-to-month payments, and additionally they renders a lot more repayments as often because the they had such as for example. Both of these choices can save you time and money off the life of the loan.
As an Athena customers, you can spend your own paycheck directly into your home mortgage membership and you will lower your house loan shorter.
Small refinancing
Athena made their name by the trembling within the refinancing space, and additionally they get it done rapidly. Refinancing usually takes as little as 15 minutes (to get conditional approval). Delays can still can be found depending on your own bank/almost every other issues.
Totally free property declaration
Athena even offers a free possessions statement having comprehensive facts about your own home, instance projected worthy of and you will present conversion record.