FAQs - Refinancing to Athena

How long does it take to switch over?

You could apply in as little as 15 mins (but take your time) and get a decision in seconds. You’ll receive conditional approval and we’ll run a property valuation and ask you to verify your ID. This could take a few days.

Afterwards, we request a transfer from your current lender, but be warned this is often where delays happen. You may find your current lender’s retention team trying to drag things out for as long as possible. In some cases where the original lender has been reasonable, the transfer process can take around 2- 3 weeks. In some cases longer.

On average, from quote to settlement, it’s taken our existing customers 6 weeks to switch over. It could take shorter or longer depending on your scenario, but we will always keep you in the loop.

Do I need to contact my current bank when I switch over?

Not unless you want to be on hold for hours! Our settlement team will work with your bank to move your loan across and your Settlement Pack that we send you will have your discharge approval in it. You will likely not need to contact your current lender at all. If we need you to contact your bank, we’ll let you know.

How do I discharge my home loan from my previous lender?

It depends on who your lender. In some cases, we will discharge your home loan for you so you won’t need to contact your current lender at all. Some lenders require you to give them a call to discharge. We’ll let you know if this is the case and will provide you with step by-step instructions in your contract on what to do.

Just a heads up, lots of lenders love to stall the process here but we’ll help you chase them up. They’ll try anything to make you stay. But we all know it’s too little, too late 👎 Send them that break up text, trust us, you’ll feel great after. Here’s some tips.

Will I be charged penalty fees by my current lender?

If your loan was settled after 30 June 2011, lenders are not legally allowed to charge an exit fee. That said some lenders still pass on costs (usually called discharge fees) when you jump ship to a better deal. And of course if you’re on a fixed rate then you will need to check out what the break fee is, remembering it can be chunky depending on the size of your loan and time left.

Check with your current lender what sneaky discharge fees they’ll charge you to leave. You should always make sure your savings are worthwhile against the possible costs. Head over to our calculator to work out your savings.

Can I refinance multiple properties with Athena?

Of course, bring it on. The more properties, the more savings! You’ll need to check that all the properties you want to refinance with us meet our eligibility criteria. Check our eligibility criteria.

Simply apply online for either your owner occupied property or the property with the highest outstanding loan amount and when our Loan Experts get in touch, mention that you’re keen to switch your other properties over to us and they’ll care of the rest.

Can you run a valuation on my property before I apply?

We run valuations for properties after you submit your application (and we won’t charge you for it!).

Can I speak to someone if I get stuck?

Hell yes. A home loan is a big decision and we can even do the application for you. Get in touch with a local Loan Expert. We’re here to help.

I’m conditionally approved! What happens now?

Woohoo! This means that your loan is approved based on a number of conditions being satisfied.

These conditions will vary from loan to loan but typically we require a few documents to make sure everything is legit. One of our Credit Assessors will get in touch with details on what to do next.

I’m unconditionally approved! What happens now?

Yay, congrats! You’ll need to verify your ID if you didn’t do so earlier in your application, review and sign a few loan documents.

All of this will be detailed in an email from one of our Credit Assessors. Once this is all done, we’ll organise your settlement.

How can I track the status of my application?

Track the status of your application through Home Hub. You’ll have access to this as part of the application process.

Need to talk to us?

Our Australian home loan experts are here 5 days a week to answer your questions.


Weekdays 9am-5pm AET

wCall   13 35 35

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Athena acknowledges the traditional owners of the land on which we gather the Gadigal people of the Eora nation. We acknowledge that sovereignty was never ceded and respect their continued and continuing connection to this place.