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ANZ goes green with healthy home discount

ANZ is offering up to 1% off loans for new build properties that meet sustainability and energy efficiency requirements. 

Friday, April 12th 2019, 9:56AM

The major lender has launched the new scheme to try and improve energy efficiency and sustainability standards in New Zealand homes. ANZ announced the offer alongside Green Party leader and Minister for Climate Change, James Shaw MP (pictured), this morning.

ANZ has promised to cut 70 basis points off standard fixed-rate loans and up to 1% from standard floating and flexible home loan rates. The deal also offers customers fee waivers.

The discount could knock down ANZ's one year rate to just 3.75%, based on the lender's current rates. The offer is open for new build homes that get a 6/10 rating or higher from independent rating agency Homestar.

Antonia Watson, managing director of retail and business banking for ANZ New Zealand, said the bank wanted to help improve building standards in New Zealand. “Most existing New Zealand homes only achieve a two or three rating, and new homes – even though they’re built to the Building Code – will only achieve three or four.

"We’d like to play our part in raising those standards, and creating more homes that are warmer, drier and healthier. The idea of building sustainably is not yet mainstream in New Zealand. It’s viewed as an expensive luxury, rather than the basic standard it should be," Watson added.

The offer is the latest product aimed at construction properties, which are not bound by LVR restrictions. Last year, ANZ offered $100 million in interest-free loans for insulation.

Climate Change Minister Shaw added: “Upgrading our homes so that they’re warm, dry, and energy efficient will reduce health costs, improve homeowners’ finances, and help cut New Zealand’s greenhouse gas emissions.”

 

Tags: ANZ LVR

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Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.19 4.25 4.49
ANZ Special - 3.69 3.75 3.99
ASB Bank 5.20 4.25 4.19 4.39
ASB Bank Special - 3.75 3.69 3.89
BNZ - Classic - 3.69 3.75 3.99
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
Credit Union Auckland 5.95 - - -
Credit Union Baywide 6.15 4.95 4.95 -
Lender Flt 1yr 2yr 3yr
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
Housing NZ Corp 5.19 4.29 4.29 4.49
HSBC Premier ▼5.79 ▼3.65 ▼3.69 ▼3.85
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
Lender Flt 1yr 2yr 3yr
ICBC 5.65 3.85 3.95 3.89
Kiwibank 5.80 4.30 4.40 4.74
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.55 3.65 3.99
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.69 4.79 -
Resimac 5.30 4.86 4.14 4.19
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 3.78 3.78 3.99
Sovereign 5.30 4.35 4.29 4.55
Sovereign Special - 3.85 3.75 4.05
The Co-operative Bank - Owner Occ 5.15 3.79 3.84 3.99
The Co-operative Bank - Standard 5.15 4.29 4.34 4.49
TSB Bank 6.09 4.65 4.59 4.85
TSB Special 5.29 3.85 3.79 4.05
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.69 4.79 5.19
Westpac - Offset 5.34 - - -
Westpac Special - 3.69 3.75 3.99
Median 5.50 4.29 4.25 4.19

Last updated: 23 August 2019 8:51am

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