Due to growing environmental concerns, lenders have launched green loans to help customers make their homes more energy efficient and environmentally friendly.
Online lender homeloans.com.au has expanded its sustainability initiatives and joined the growing list of green loan providers.
The Green Loan is for current customers who want to retrofit their homes with energy efficient upgrades such as solar panels, electrical energy storage, batteries, and some home appliances with at least 4.5 star energy efficiency. The loan is used in addition to the existing mortgage loan from the lender.
RELATED: Top Green Home Loans in Australia
Customers will benefit from a low introductory rate of 0.89% per annum (comparison rate of 1.73% per annum) for the first five years with loan amounts of up to $ 25,000. After five years, it becomes 2.24% pa
Homeloans.com.au CEO Scott McWilliam said: âSwitching to clean energy products can help customers save money on their utility bills and by doing so they can also reduce their emissions. of carbon for the benefit of the environment. “
The average cost of a basic installation of a solar panel system in a home starts at around $ 3,500 and a system can take around 3 to 5 years to pay for itself.
âGreen Loan, our latest initiative, is making credit more accessible to encourage customers to join the movement towards a cleaner, more sustainable future,â says McWilliam.
If you’re one of the many Australians who want to embrace a more sustainable lifestyle, explore other ethical options for greening your finances.
^ See information on the Mozo Experts Choice Home Loan Awards
Mozo provides general product information. We do not consider your personal goals, your financial situation or your needs and we do not recommend any particular product to you. You should make your own decision after reading the PDS or offering literature, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we do not cover all products on the market. If you decide to request a product through our website, you will be dealing directly with the supplier of that product and not with Mozo.