Want to improve your home's efficiency and become more clean and green? Or maybe you just want a warmer and drier home to enjoy? Thankfully, now getting a more energy efficient home is more within reach with two banks offering low or no-interest loans to customers.
Both of these loans are aimed at customers who are wanting to renovate their homes to a warmer, drier standard or become eco-friendly. This means the loans will cover things like;
Solar panels and batteries
Electric vehicle chargers
Let’s take a look at the two loan options available. Both of these banks offer different terms and have different lending criteria, so be sure to talk to us first about what might suit you best.
Westpac Warm Up Home Loan
The Westpac Warm Up Home Loan allows you to borrow up to $40,000 interest free for up to five years. This loan is available for new or current Westpac Choices Home Loan customers. They also offer the flexibility to make lump sum payments or pay the loan off earlier without prepayment costs.
ANZ Good Energy Home Loan
The ANZ Good Energy Home Loan allows you to borrow up to $80,000 at a fixed interest rate of 1% for three years. When this fixed rate period expires, you can then choose to re-fix at a Special fixed interest rate (if you are eligible) or Standard fixed interest rates, or you can let your loan move onto the floating rate. As well as making improvements to your home, the Good Energy Loan also allows you to purchase new or used electric or hybrid vehicles as well as new or used electric bikes.
Both of these lending options allow for affordable ways to help upgrade your home or become more energy efficient. Future proofing your home allows for not only better health for your family, but also saves you money in heating and power bills. With these costs continuing to rise thanks to increases in fossil fuels, becoming more reliant on renewable energy and having a well insulated and warm home is key.
There are terms and conditions for lending on both of these loans, and lending criteria apply. If you’d like to discuss how you could benefit from either of these lending options, get in touch with the team at Better Choice Home Loans today.