Australia's Best Home Loan

Discussion in 'Loans & Mortgage Brokers' started by Dean Collins, 16th May, 2018.

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  1. Dean Collins

    Dean Collins Well-Known Member

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    Dean Collins, 16th May, 2018
    #1
    Perthguy likes this.
  2. Lacrim

    Lacrim Well-Known Member

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    Always wary of small lenders...the potential for them to do something dodgy like jack up rates or call in your loan at their whim is higher compared to the big 4/mainstream lenders.
     
    Lacrim, 16th May, 2018
    #2
  3. luckyone

    luckyone Well-Known Member

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    I've signed up to their waitlist and asked for more information on why they have "Australia's best home loan". Will be interesting to see what they say.
     
    luckyone, 16th May, 2018
    #3
  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Sweet - would love to see what Australia’s best home loan looks like.

    Cheers

    Jamie
     
    Jamie Moore, 16th May, 2018
    #4
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  5. TheSackedWiggle

    TheSackedWiggle Well-Known Member

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    It comes with chips and drink.
     
    TheSackedWiggle, 16th May, 2018
    #5
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  6. Morgs

    Morgs Well-Known Member Business Member

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    Theres a few in the Fintech space - XINJA and Volt have been fairly highly publicized
     
    Morgs, 16th May, 2018
    #6
  7. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    You know what Australia's best home loan is as well as I do...


    ... The bank of Mum & Dad.
     
    Peter_Tersteeg, 16th May, 2018
    #7
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  8. Eric Wu

    Eric Wu Well-Known Member

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    Must be the "BEST" ;):rolleyes:
     
    Eric Wu, 16th May, 2018
    #8
  9. Eric Wu

    Eric Wu Well-Known Member

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    Interest free, no assessment required, no application. Can't be any better. :)
     
    Eric Wu, 16th May, 2018
    #9
  10. Perthguy

    Perthguy Well-Known Member

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    When I loaned money to my parents interest free I didn't think it was that great. I could have invested that money for a better return!
     
    Perthguy, 16th May, 2018
    #10
  11. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    To be fair, not everyone will be eligible and for some the terms and conditions can be quite onerous. Some example T's&C's I've seen:

    * Borrower will attend church every Sunday alongside the lender.
    * Borrower will give lender naming rights to the borrower's first child.
    * Lender reserves the right to veto the property that the funds will purchase.
    * Lender will live with the borrower indefinitely.
     
    Peter_Tersteeg, 16th May, 2018
    #11
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  12. Eric Wu

    Eric Wu Well-Known Member

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    :eek:;) that is harsh
     
    Eric Wu, 16th May, 2018
    #12
  13. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    500 mill :)

    that wont go far.........

    ta
    rolf
     
    Rolf Latham, 16th May, 2018
    #13
  14. Tom Simpson

    Tom Simpson Well-Known Member

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    It'll be interesting to see how the beta round goes. The $500m capacity they have will be super funds pledging to fund home loans. If it goes well you can imagine how keen the super funds will be to get on board. Mortgage backed investments that they have a direct hand in writing is very appealing me thinks.
     
    Tom Simpson, 17th May, 2018
    #14
  15. Dean Collins

    Dean Collins Well-Known Member

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    So I had a friend of mine circle back in an email last night.......they pitched something similar and found the lending basis Aust Super wanted for resi mortgages meant they couldn't make the sums work and they were able to secure cheaper money on the USA wholesale market.

    I guess we'll see what they come up with in a few months.

    If you do hear back from Athena please make sure to update this post with what terms they are offering for variable and 1/3/5 year fixed as I'm sure a lot of us would be happy to sign up "for the best home loan in Australia". We'll see what happens.
     
    Dean Collins, 18th May, 2018
    #15
  16. Redwing

    Redwing Well-Known Member

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    Redwing, 18th May, 2018
    #16
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