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The digital lender is undertaking a series of workshops with LMG brokers to develop a suite of new home loan products for the channel.
Athena Home Loans is set to deepen its partnerships with the broker channel as it embarks on a new strategic partnership to co-create new mortgage products with brokers.
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While Athena had initially started out as a direct-to-consumer lender, it has gained popularity with the broker channel after creating tailored white label products with FAST (now part of LMG) and Mortgage Choice. It also appointed a head of distribution in 2023 to prepare for its acceleration in broker distribution.
Athena is now looking to broaden this further by creating a set of digital products for broker clients that provides borrowers with “a fairer, faster and more favourable experience”.
To determine what brokers would like to see built into the mortgage product suite, it is now undertaking a series of co-creation workshops with LMG brokers nationwide to “harness the brokers’ collective expertise and combine it with Athena’s cutting-edge technology”.
These sessions – which are already underway across the country – aim to ensure that the end products are “tailored to meet the evolving needs of both brokers and their customers” and will focus on flexibility, speed, and competitive terms.
It is hoped the resulting products will give brokers the flexibility and control they need to better serve their clients, while ensuring customers receive the best possible service.
According to LMG and Athena, product designs are expected to be finalised by October.
Sam White, executive chairman of LMG, said: “We’re thrilled to partner with Athena because we both share the same vision – using tech and innovation to give brokers a competitive edge – and delivering the best possible outcomes for their clients.
“We believe digital disruption isn’t about competing with brokers, but empowering them. By teaming up with Athena, we’re creating digital-first solutions that handle the heavy lifting, so brokers can focus on what they do best – advising clients.
“That’s why broker market share keeps growing – because when brokers have the right tools and support, everyone wins.”
Nathan Walsh, CEO and co-founder of Athena Home Loans, said: “LMG has shaped and scaled the broker industry for 30 years, and at the heart of their success are two things – a progressive and innovative culture, and a network that considers itself a family. Our businesses are so closely aligned.
“We are proud to be partnering with the LMG team and their exceptional network of brokers.
“Together, we will deliver an exceptional product experience that will continue to change home loans for good.”
Speaking to The Adviser about Athena’s work partnering with brokers in the September 2024 edition of The Adviser magazine, its head of distribution, Raj Kapoor, said: “To Athena, brokers are exceptional partners. Rightly, there is incredible demand for brokers’ services – now reaching 74 per cent of the market share.
“We want to see that demand continue to grow and be a lending partner who adds deep value to their businesses through exceptional experiences and solutions.”
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