If you’ve been reading our latest article on Financing Your Winter Warmth, you'll know that unlocking your home's equity is a smart way to fund those vital winter upgrades. Our partners at First Rate Mortgages and NonBk are experts at helping you leverage your equity to create a healthier home!

Alongside speaking to a specialist broker, it is also well worth looking into the highly discounted Green Loans currently offered by major NZ banks. If you already have a residential mortgage, these specialized top-ups can help fund sustainable systems like solar power, heat pumps, insulation, and even electric vehicles.

Current Bank Offers for Auckland Homeowners

Here is what the major banks are currently offering to help you create an energy-efficient home:

• Westpac Greater Choices: Borrow up to $50,000 interest-free for 5 years. This can be used for energy-efficient upgrades as well as climate resilience measures.
• ANZ Good Energy Home Loans: Borrow up to $80,000 at a 1% p.a. fixed interest rate for 3 years to cover heating, solar, water tanks, and EVs.
• ASB Better Homes Top Up: Borrow up to $80,000 at a 1% p.a. fixed rate for 3 years (requires at least 20% equity).
• BNZ Green Home Loan Top-Up: Borrow up to $80,000 at a 1% p.a. fixed rate for up to 3 years.
• Kiwibank Sustainable Energy Loan: Offers variable rate lending with no maximum cap. If you borrow over $5,000, Kiwibank contributes up to $2,000 in cashback over the first four years.

Important Things to Keep in Mind

To use these bank top-ups, you must typically meet your bank's equity requirements and provide quotes or invoices from approved contractors to verify the funds are going exclusively toward eligible green upgrades.

Note: For a broader look at government guidance on home energy loans, you can also check out the EECA Understanding Home Energy Loans portal.

Ready to make the best financial choice for your home?

Not sure if a bank Green Loan top-up or leveraging your equity through a specialist broker is the right move for you? Read our full guide with First Rate Mortgages to explore all your options and make the best financial choice for your home this winter or give them a call on 09-426-8927.

Read the full guide here: Financing Your Winter Warmth