In particular we focus on getting the loan structure right the first time, choosing which lenders to use in the right order (yes this is important) and finally getting our clients the best deal possible.
Green Home Loans
Marty McDonald
Green Home Loans
Consider yourself a conservationist? Got solar panels on your mind? What a great way to reduce your energy bill plus help the long-term future of the environment while increasing the value of your property.
There are many ‘green’ loans around now that can assist with improvements to your home or even the construction of a new energy efficient home. One of our major banks (the CBA) has jumped on board and are making it easy for you to install and buy ‘clean energy’ goods. We also have one of the leading non-banks (Firstmac) also offering green constructions loans.
CBA’s Green loan:
Can assist in the purchase and installation of:
- solar panels
- battery packs
- solar hot water systems
- heat pump hot water system
- electric car charging stations
Note: To keep with Australian standards all units must be installed using an approved ‘Clean Energy Council’ retailer/installer.
They are offering a loan size from $5,000 to $20,000 max with an ultra-low 10-year fixed rate at just 0.99% pa. It has no establishment fee, monthly service fee or early repayment fee. You must have an eligible existing residential home or investment loan with them of at least $150,000, the ‘clean energy’ products must be installed onto the property that CBA already has the mortgage over.
Firstmac’s Green Construction loan
What if I want to build a home, can I get a green home loan? Yes, it’s called a ‘green construction home loan’. All you need to do is build a property that is sustainable and energy efficient.
Firstmac is offering both owner occupier & investment green home loans with very low interest rates. You must provide a NatHERS Certificate for the security property for the loan containing a rating of 7 stars or higher before final approval of your loan to qualify for the Discount Offer.
Other options for Green loans
Besides CBA and Firstmac there are other providers offering incentives for Green loans such as Bank Australia and Gateway Bank and new offers are being added all the time so please call us to check in to see what is available.
Also don’t forget we can of course assist with more traditional construction loans, equity release / cash out loans to help fund any worthwhile property improvements.
Let us help you go Green!
About the Author: Marty McDonald is principal of mortgage broker “Mortgage
Experts”. Marty specialises in assisting active property investors with loan structuring advice and
implementation as well as helping credit worthy borrowers with slightly outside the box income and employment
situations. Find Marty on
Facebook and
LinkedIn.
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