homeloans.com.au launches a new green loan
Due to growing environmental concerns, lenders have been launching green loans to help clients make their homes more energy efficient and green.
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 looking to upgrade their homes with energy efficiency upgrades such as solar panels, electrical energy storage, battery packs, and certain appliances with an energy efficiency of at least 4.5 stars. The loan is used as a supplement to the existing mortgage loan with the lender.
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Clients will benefit from a low introductory rate of 0.89% per annum (comparison rates of 1.73% per annum) for the first five years with loan amounts up to $ 25,000. After five years it becomes 2.24% per annum
Homeloans.com.au CEO Scott McWilliam says: “Switching to clean energy products can help customers save money on their utility bills, and by doing so they can also reduce their carbon footprint for the better. enviroment”.
The average cost of a basic installation of a solar panel system in a home starts at around $ 3,500, and it can take 3-5 years for a system to pay for itself.
“The Green Loan, our latest initiative, makes credit more accessible to encourage clients to join the movement toward a cleaner and more sustainable future,” says McWilliam.
If you are one of the many Australians who want to live a more sustainable lifestyle, check out other ethical options to go green with your finances.
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