Athena unveils Power Up and Straight Up home loans

Athena has launched two new home loan products in a bid to offer its clients with more choice. 

The two home loan products — Straight Up and Power Up — bear variable rates and provide borrowers with the customisation they desire in a home loan.

Here are the key features of each new mortgage offering:

Straight Up

Straight Up is Athena’s no frills, no fees variable rate home loan. Some of its features are the following:

• Low variable rates
• Even lower rates with AcceleRATES — Borrowers who reach certain loan-to-value ratios as they pay down their loans will be able to reduce the rates charged to their principal amount.
• Zero Fees
• Free redraw facility
• Accessibility through the Athena mobile app

P&I Interest Rates as of 15 December:

Loan-to-value ratio	Owner Occupier Rates (% p.a.)		Investor Rates (% p.a.)
	Advertised	Comparison	Advertised	Comparison Rate
70% to 80%	5.14	5.09	5.29	5.21
60% to 70%	5.09	5.05	5.19	5.15
50% to 60%	5.04	5.02	5.14	5.12
0 – 50%	4.99	4.99	5.09	5.09

Straight Up is also available on interest-only terms.

Power Up

Power Up provides borrowers with flexibility in terms of features. It provides several features on top of the same benefits from the Straight Up home loan.

Here are some additional features:

• Ability to split the home loan, with up to 10 different loans against the property
• Free 100% offset account or redraw accounts (multiple offset accounts are in the works)

P&I Interest Rates as of 15 December:

Loan-to-value ratio	Owner Occupier Rates (% p.a.)		Investor Rates (% p.a.)
	Advertised	Comparison	Advertised	Comparison Rate
70% to 80%	5.29	5.24	5.44	5.37
60% to 70%	5.24	5.20	5.34	5.30
50% to 60%	5.19	5.17	5.29	5.27
0 – 50%	5.14	5.14	5.24	5.24