Now you can save money and the environment with a premium quality goGreen® Home Loan designed to encourage people to purchase, construct or renovate homes which are more energy efficient. Going green has never been so easy. The goGreen® Home Loan is available to finance homes rating 7 stars or more according to the Nationwide House Energy Rating Scheme (NatHERS) which is managed by the Department of Climate Change. The rating scheme has an important role to play in helping us achieve more sustainable buildings.
low variable interest rate
A low variable interest rate to encourage you to do the right thing, and go green. Not only will you be saving directly with your loan, you'll also be doing what you can to help conserve the environment in the process. Interest on the goGreen® home loan is calculated on the daily balance to ensure that you gain immediate benefit from loan repayments and you can pay your eco-friendly home off sooner rather than later.
available to homes with a 7+ star rating*
To qualify for a goGreen® Home Loan simply provide bankmecu with an energy efficient report produced by an accredited energy assessment tool such as BERS Pro or FirstRate5 which are based on software developed by CSIRO called AccuRate. This will show us how much heating and cooling energy would be required to keep your house comfortable and a 0 to 10 star rating of the heating and cooling energy performance.
* according to the Nationwide House Energy Rating Scheme
For new owner occupied home construction loans bankmecu will offset an equivalent amount of land into its Conservation Landbank located in the western region of Victoria. For example if you build a new home on a 650sq/m block, 650sq/m will be allocated into bankmecu's Conservation Landbank in order to offset any loss of bio-diversity at no cost to you.
Borrowers can take a break from repayments to assist with the purchase of energy and /or water saving devices such as rainwater tanks, solar or grey water system. Take a 3 month pause from full repayments or a 6 month pause at half repayments. Two eco-pause breaks are available for the life of the loan and your payments will be adjusted to ensure you do not exceed the maximum term of the loan.
family repayment pause
When one income earner is on maternity leave, it can be tough on the home finances. Our family repayment pause enables people to take a breather from repaying their loan while starting a family. Take a 3 month pause from full repayments or a 6 month pause at half repayments.
* The comparison rate is based on a loan of $150,000 for 25 years. Fees and charges may be applicable.
IMPORTANT: The Comparison Rate applies only to the example given. Different amounts and terms will result in different Comparison Rates. Cost such as redraw fees, 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.