Loans.com.au launches new low-rate Solar Construction Loan amid demand for greener homes

By Jack Dona · · 2 min read
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A happy and excited woman walks along her rooftop lined with solar panels.

Online lender loans.com.au has launched a new construction home loan with a discounted interest rate for those who choose to install solar panels as part of their build. 

The Solar Construction Loan from loans.com.au comes as Australian preferences for sustainable and green homes grow. 

According to a report released by property listings site Domain in 2022, sustainable homes not only attract more interest from potential buyers, but they also sell quicker. 

Energy efficiency is becoming more common across property listings too, according to Domain. In fact, listings with energy-efficient keywords rose from 49.7% in 2021 to 54.4% in 2022.

So, what exactly is loans.com.au offering here with the Solar Construction Loan? 

How the Solar Construction Loan works

The Solar Construction Loan from loans.com.au is designed to encourage new home builders to incorporate solar energy into their builds. 

The idea is that customers can reduce their energy bills (and carbon footprint) in the future by using solar, plus have access to a reduced, interest-only variable rate during the construction period, with up to a 1.49% p.a. discount (T&Cs apply). 

To be eligible for the new Solar Construction Loan rate, customers must meet the lender’s criteria and provide evidence like an invoice, quote, or contract with details about their solar plans.

Loans.com.au’s Solar Construction Loan is available to both owner-occupiers with a minimum 10% deposit and property investors with a minimum 20% deposit. 

There are also no monthly, annual, or application fees with the Solar Construction Loan. However, standard fees including settlement ($300), security assessment ($230) and construction assessment fees ($650), among others, do apply.

After you have finished the construction process, loans.com.au will convert your construction loan to a standard variable rate home loan that includes a redraw facility and offset account.

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Important disclosures and comparison rate warning*
loans.com.au Solar Construction Loan
  • Interest-only rate of 6.19% p.a. (6.43% p.a. comparison rate*)
  • Available for loans between $50k to $1 million
  • No ongoing monthly, annual, or application fees (other fees may apply)
Find out more

Including solar with your new build? The new Solar Construction home loan from Award-winning^ lender loans.com.au offers owner-occupiers a low interest-only rate of 6.19% p.a. (6.43% p.a. comparison rate*) during the construction period. Available for loans up to a max $1 million and with as little as a 10% deposit. There are no application or ongoing fees but you’ll need to cover a $230 valuation and $300 settlement fee.

^Mozo Experts Choice Home Loan Awards 2023. 

Finding the right home loan for your needs can feel like a daunting task, especially given the volume of options out there. But when you compare home loans with Mozo, you’ll find a neat overview of a product’s features, interest rates, estimated monthly repayments, and if there are any promotional offers running that might pique your interest. 

At Mozo, we’re always trying to stay on top of the latest home loan news to keep you up to date or help you on your journey to homeownership with useful home loan guides that can demystify a sometimes very confusing part of life. 

If you’re looking to get started, have a look at the featured home loan interest rates below, or check out some of the best home loans in Australia for products the Mozo experts thought were worth some recognition. 

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Last updated 8 September 2024 Important disclosures and comparison rate warning*

Home loan comparisons on Mozo

Promoted

  • Unloan Variable

    • Owner Occupier
    • LVR <80%
    Interest rate
    5.99 % p.a.
    Variable
    Comparison rate
    5.90 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

    Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.

  • Neat Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.09 % p.a.
    Variable
    Comparison rate
    6.11 % p.a.
    Initial monthly repayment
    $3,027
    Go to site

    Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.

  • Express Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <90%
    Interest rate
    6.01 % p.a.
    Variable
    Comparison rate
    6.14 % p.a.
    Initial monthly repayment
    $3,001
    Go to site

    Get online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.

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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

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

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