The offering labelled 'Athena Accelerates' lowers a customer's rate the more they pay down the loan and is available for new and existing customers from 30 September 2020, while customers who apply for a loan from today will also receive the new rates. 

Owner-occupier (OO) borrowers with a Loan to Value Ratio (LVR) of:

  • 70-80% will receive a variable Principal and Interest (P&I) rate of 2.54% p.a. (comparison rate 2.46% p.a.)
  • 60-70% will receive a variable P&I rate of 2.49% p.a. (comparison rate 2.43% p.a.)
  • Less than 60% will receive a variable P&I rate of 2.39% p.a. (comparison rate 2.39% p.a.)

Borrowers' rates will be automatically dropped as they fall into a new LVR tier, with Athena boasting that the offer is an Australian first. 

Buying a home or looking to refinance? The table below features home loans with some of the lowest variable interest rates on the market for owner-occupiers.

Lender

VariableMore details
Online ExclusiveUp To $4K Cashback
  • Immediate cashback upon settlement
  • $2,000 for loans up to $700,000
  • $4,000 for loans over $700,000
Online ExclusiveUp To $4K Cashback

loans.com.au – Variable Basic Cashback Home Loan (Principal and Interest) (LVR < 70%)

  • Immediate cashback upon settlement
  • $2,000 for loans up to $700,000
  • $4,000 for loans over $700,000
VariableMore details
Unlimited RedrawsApply In Minutes
  • Low Deposit (<95% LVR) with No LMI required
  • Unlimited Redraw and additional repayments
  • No Application or ongoing fees
Unlimited RedrawsApply In Minutes

Sucasa – Ultra Low Rate (Variable) - <95% LVR - No LMI (New Purchases)

  • Low Deposit (<95% LVR) with No LMI required
  • Unlimited Redraw and additional repayments
  • No Application or ongoing fees
VariableMore details
Refinance OnlyApply In Minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
Refinance OnlyApply In Minutes

Unloan – Variable Rate Home Loan – Refinance Only

  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of March 1, 2024. View disclaimer.

Athena Accelerates is also available to investors. Investors with an LVR of:

  • 70-80% will receive a variable P&I rate of 2.94% p.a. (comparison rate 2.87% p.a.)
  • 60-70% will receive a variable P&I rate of 2.89% p.a. (comparison rate 2.83% p.a.)
  • Less than 60% will receive a variable P&I rate of 2.79% p.a. (comparison rate 2.79% p.a.)

Athena chief executive and co-founder Nathan Walsh said the lender wanted to offer a more rewarding home loan experience. 

“Aussie borrowers are so frustrated by the painful negotiations with their current lender in order to get a fair rate," Mr Walsh said.

"That’s why Athena wants to motivate, encourage and reward customers for paying off their home loan and also have peace of mind knowing that once they hit the lower tier, we will drop their rates for them automatically.”

Mr Walsh said customers who switch to Athena saved $60,000 on average over the life of the loan, with the new offer only increasing the savings.

"With our new AcceleRates pricing model many of these customers will now save $70,000," he said.

Athena chief operating officer and co-founder Michael Starkey meanwhile said borrowers would spend the majority of the life of their loan at the lowest rate.

"If they start out at the 80% LVR tier and pay the minimum on a Principle and Interest loan, they would hit the 70% LVR tier in only 4 years and 2 months," Mr Starkey said.

"From there they would hit our lowest rate in just 3 years and 9 months where they would stay for the rest of the loan.

"Of course customers can choose to make additional repayments and get there even faster.”

Athena Accelerates replaces the lender's previous Loyalty Bonus offer, which saw existing borrowers' rates go down by 0.01% in each of the first five years. 

Launched in early 2019, Athena made a name for itself by being the first lender to pass on each Reserve Bank cash rate cut in full immediately, earning itself a name drop from Treasurer Josh Frydenberg





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