Yes I saw Reduced home loan post, also I saw comments for their previous posts.
I am with Athena for about 7 months. Simply they are Awesome!
Owner Occupier Home Loan 2.59% (C.R 2.55%) @ Athena Home Loans
2221
Kas on 03/03/2020 - 15:10 athena.com.au (5154 clicks)
Last edited 03/03/2020 - 15:53 by 2 other users
Last edited 03/03/2020 - 15:53 by 2 other users
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:( They don't lend to my location on the Sunshine Coast.
UBank should also be 2.59.
They are also passing on the full cut… but doesn't kick in till the 3rd of April.
There are so many things that make a loan better for one person than another.
I pay 0.25% above the base market rates in order to have a loan with a big 4 bank with an offset simply cause it suits me best. I pay $2000 a year for the privilege but I wouldn’t have it any other way cause I’m willing to pay for the convenience/tech to make things easy.
Another person may think paying thousands per year more than I absolutely have to is ludicrous, but I value the product features to the point where it’s worth it for me. I also milk my offset for all it’s worth.
Please don’t turn the comments section into a p!$$ing contest for who knows more about a mortgage, leave that stuff to a broker (and get a good one cause they make a difference), and definitely get financial advice before signing up for a home loan.
Any offset acc facility?
Maybe read the thread in full?
Athena had been amazing. Smooth and free app process. Guaranteed lowest rate for all customers is so good - No more wasting time trying to get a lower rate every 12 months. Redraw works really well - If transferring out I have received $$$ next day in my account every time. Cant recommend enough!
I currently have an investment loan, P&I with an offset account with one of the big 4. Am on 3.6% (will be 3.35 after the rate cut is applied).
Anyone with the big 4 currently getting a better deal on a comparable product?I negotiated 3.39% investment P&I for a client with Westpac. 3.29% at 70%LVR.
This was before the rate cut.
So, 3.14% (80%LVR) or 3.04% (70%LVR).
2.88% investment P&I fixed for 2 years.
Am able to get $3,000 refinance cash back (for each property, not just limited to 1 property) and first year annual fee of $395 waived.
Try to get your bank to match it.
Feel free to DM me if you have any queries.Thank you for providing this info. Gives me a rough benchmark of what rates are available with the big4. :)
We are very happy with Athena. We have been with them since Nov 2019. Easy to work with. Reasonable online platform and fantastic that they have dropped rates immediately. Would highly recommend.
Which group are you in, Athena Home Loans?
Stingy lenders
Big banks have similar lending calculators to each other, with small variances between them."Sorry, you can only borrow upto 400k, so we cannot refinance your 1m loan"
OK lenders
Non-bank lenders have a significantly improved borrowing power assessment.
Borrowing capacity improved by 10~40% over stingy lenders"We can refinance your 1m loan, but you need to reduce the balance to 700k first"
Generous lenders
Aggressive non-bank lenders.
Much greater borrowing capacities."Sure, we can refinance your 1m loan without problem"
Which group are you in, Athena Home Loans?
"You can have upto 100k of cashout with refinance. If more than 100k, you need to provide documentation to prove the usage"
"You can have upto 200k of cashout with refinance. If more than 200k, you need to provide documentation to prove the usage"
"You can have unlimited cashout with refinance, as long as your serviceability allows and the limit does not exceed 80% of the property"
I read on a review site that some of the terms were rather restrictive. Any idea what they are? I asked if I could see the terms before I go through the trouble of applying but they never got back to me.
Applied 2 days ago. Received an email requesting documents. Tried to attach the documents but couldn't go past their infamous system error. A day later, got an email saying no go. That's fine although I still cannot comprehend why as we have a good income and excellent credit ratings. Anyways, asked them why and was told that the credit rating was not within their appetite. Why not tell that immediately after submitting the application? Why waste time asking for "supporting documents"?
wonder if they believe the industry your in may be affected by covid-19?
I highly doubt it. I work for the Federal Government. I managed to match their rate with my current lender Suncorp so I'm happy. I wish I would have seen the reviews before starting the application process. https://www.productreview.com.au/listings/athena
It would be interesting to see if they pass the recent RBA rate cut to the customer. That has been their mantra to attract unsuspecting customers.
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looks like the RBA has cut interest rates again, will be interesting to see what they and UBank do…
housing bubble is going to crash, these guys just cancelled our pre approval, no reason given.
They just cancelled our application (we've gotten pre-approval etc., uploaded all documents) as they are re-assessing all loans and are only (what he said) taking in loans with =< 70% LVR only. They cited COVID19 and the uncertainty surrounding it.
Wish me luck reducing my current rate at ING (2.98%) or go to UBank at 2.59%.
From Whirlpool: https://whrl.pl/Rf2xlT
Not good news. Missed a call from my specialist, rang back the number 12 minutes later and was told he no longer worked for the company. Apparently, they had let a lot of people go this week and they thought he was one of them. The specialist eventually calls me back to say that he finishes on Friday.
I did this recently. You can redraw online, but takes 2-3 days I believe. Max is $5k per day, and they will call you to confirm withdrawing large amounts.