24 March 2007

Mortgage rewards for going green

Two lending institutions have introduced products to encourage people to purchase green homes.

Bendigo Bank have introduced their generation green range of products, which includes mortgage and personal loans as well as a carbon offset program. To qualify, both loans have a set of criteria that must be met, for example the personal loans are for the installation of products or fixtures that improve the environmental efficiency of your home.
Both loans have a rate significantly below Bendigos standard variable rates.

The Maleny Credit Union has three products, the enviro loan, the dam busting loan and the green appliance loan.
The enviro loan is for houses that achieve a 5 star energy rating, the dam busting loan is a no application fee loan to encourage people to install rainwater tanks and the green appliance loan is for the installation of fixtures and fittings such and solar panels or solar hot water heating.
Each loan has a rate below MCUs standard variable rates.

The win-win with products such as these is that you will save money on your loan, save money on running costs of your house, and the environment and natural resources all get to have a break.