Exactly what are some features of Athena’s lenders?

Because exploding onto Australia’s financial , Athena keeps enticed individuals with its wonderfully-reduced financial interest rates, no-rubbish chatting and you can a verified history of swiftly passing for the main financial speed cuts entirely in order to their customers.

The fresh new founders, Nathan Walsh (CEO) and you will Michael Starkey (COO), see a fair section about this place, which have one another in past times worked for among the larger four banking institutions – National Australian continent Financial (NAB).

Talking with inside the 2019, President Nathan Walsh told you Athena aims to shake-up the major four’s oligopoly towards home loans.

“I believe this is actually an additional where people are extremely weeping out to have an alternative regarding established legacy users,” Mr Walsh said.

“Our company is focused on helping Aussies pay-off their residence financing smaller and you may protecting by themselves a container stream along the way.”

What home loans does Athena offer?

They started out just giving changeable-speed mortgage brokers to present individuals trying re-finance, however the low-financial lender’s items are now available to possess homebuyers too. Athena together with even offers fixed-rate lenders with terminology between that 36 months.

Although not, qualifying having a keen Athena financial need individuals having during the the very least good 20% put otherwise equity, since it only offers lenders during the financing-to-worth percentages (LVRs) out-of 80% or less.

Redraw facility

One of the most features of Athena’s lenders are its redraw facility, that provides people the chance to place excessive cash in and also have it counterbalance contrary to the loan’s balance.

“It is far from structured given that a deposit account. The key point you will find we’re happily maybe not a financial and you may i will not be,” Mr Walsh told you.

“Thus giving people that secure the means to access money when you require it in the a charge-100 % free account we believe is actually a very compelling element and another that becomes us enough great reactions off users.”

Speeds up

Exclusively, Athena’s changeable-price home loans features a component entitled ‘AcceleRATES’ where, since you pay down your loan, your rate of interest try automatically reduced to help you mirror the newest LVR tier your belong to. Discover about three tiers – ‘Liberate’ (70-80% LVR), ‘Evaporate’ (60-70% LVR) and you will ‘Celebrate’ (60% LVR or lower), which have ‘Celebrate’ obtaining the lowest pricing.

Automated price match

Athena was also the initial lender in australia so you can declare what it phone calls an enthusiastic ‘automatic price match’ where established clients are never billed higher pricing than just new customers into the instance-for-such as for example loans. In addition, consumers can rating an effective 0.01 commission part discount for every of your earliest five years of its loan by just and work out its payments punctually.

Zero Charge

Athena charge zero charge for being a buyers. Which means zero application commission, fee every month, yearly percentage, redraw percentage, or any other brand of fee. not, Athena can get bequeath the expenses out-of breaking a fixed financing bargain. Along with, third party charge can use when refinancing, to find a home – but these commonly billed of the Athena.

Flexible money

Athena customers renders fortnightly in the place of monthly money, and so they helps make a lot more repayments as frequently as the they had for example. These options can save you time and money out of living of financing.

Due to the fact a keen Athena buyers, you might shell out your own salary into your property financing membership and you will reduce your house https://paydayloanalabama.com/lexington/ mortgage faster.

Quick refinancing

Athena produced their title by trembling within the refinancing place, and so they do so rapidly. Refinancing takes as little as ten full minutes (to get conditional acceptance). Waits can invariably can be found dependent on your lender/other circumstances.

Totally free assets statement

Athena now offers a no cost possessions report with thorough details about your own home, including projected worth and you can current conversion record.