Aussies hungry for green home loans, says Gateway Bank

green home loans

With Aussies now more eco-conscious many are looking to make their finances greener.

Notably, new research by Gateway Bank found that Aussies are actively looking to improve their homes with solar panels to qualify for green home loans.  

And with the newest changes to the National Construction Code–where new homes built after May 2023 must have at least a 7-star NatHERS rating–qualifying for a green home loan will be easier. 

“This means homes built from May onwards will have thermal efficiency features that help decrease its heating and cooling needs, resulting in big savings on energy bills and a more comfortable place to live,” says Gateway Bank’s chief executive officer, Lexi Airey.

What are green home loans?

In short, a green home loan is a type of loan that motivates borrowers to build or buy an environmentally friendly home. These loans typically offer discounted rates as a perk for those looking to go green.

Some green home loan providers include:

Gateway Bank and Bank Australia were crowned winners in the Green Home Loan category for the 2023 Mozo Experts Choice Home Loans Award.

Are you looking to save money and the environment? Learn more about green finances.

Home loan comparisons on Mozo - last updated 28 May 2024

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  • Basic Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR<70%

    interest rate
    comparison rate
    Initial monthly repayment
    6.25% p.a.
    fixed 3 years
    6.20% p.a.

    No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.

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  • Discount Variable Home Loan

    Owner Occupier, LVR<70%

    interest rate
    comparison rate
    Initial monthly repayment
    5.99% p.a. variable
    6.01% p.a.

    A low rate home loan for owner-occupiers packed with great features including unlimited extra repayments, free online redraw, no application or monthly admin fees. Rate will vary depending on LVR. Winner of a Mozo Experts Choice 2024 Low Cost Home Loan Award^

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    Details
  • Discounted Home Value Loan

    Owner Occupier, Principal & Interest, LVR 70-80%

    interest rate
    comparison rate
    Initial monthly repayment
    6.09% p.a. variable
    6.09% p.a.

    Enjoy competitive rates for owner occupiers. Enjoy unlimited free extra repayments. Flexibility to redraw additional payments for free. No ongoing monthly service fee. Settlement fee waived on new borrowings from $50,000 (T&Cs apply).

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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, 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 for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

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