homeloans.com.au launches a new green loan

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: “Switching 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.

“Green Loan, our latest initiative, is making credit more accessible to encourage customers to join the movement towards a cleaner, more sustainable future,” 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.

* CAUTION: This comparison rate only applies to the example (s) given. Different amounts and terms will result in different comparison rates. Costs such as redemption or prepayment charges, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is that of a guaranteed loan with monthly repayment of principal and interest of $ 150,000 over 25 years.

** The initial monthly repayment figures are only estimates, based on the advertised rate, loan amount and term entered. The rates, fees and charges and therefore the total cost of the loan can vary depending on the amount of your loan, the length of your loan and your credit history. Actual repayments will depend on your personal circumstances and changes in interest rates.

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