Healthy Home Loan by ANZ

Wow. Yes ANZ is rewarding people building to higher standards of energy efficiency by offering lower mortgage interest rates. "It offers a 0.7 per cent discount off the bank's standard fixed home loan rate, 1 per cent off the standard floating and flexible home loan rates, and fee waivers across a range of accounts" - according to Stuff.

This is big news and follows the lead from the USA where their banks have been offering "energy-efficient mortgages" for some time.

When we visited the USA in 2013 this was one of our key take outs. Their banks were offering favourable rates to people building energy efficient homes. We started wondering if this was of interest to banks in NZ. When I got back I talked to the major banks and none were interested in this concept. Interesting ANZ were the most receptive and at least took the time to have a meeting. Now here they are in April 2019 offering it to the market. Made my Friday!

So good to see a real bottom line impact of choosing a better way of building. By the numbers, this is a real saving. If you take 0.7% off a fixed mortgage amount of 300K mortgage that's $2100 per year of cash. Keep the house for the average 6 years in NZ and that's $12,600 in the pocket.

Read the article here: https://www.stuff.co.nz/business/money/111978434/anz-cuts-mortgage-rate--but-theres-a-catch

Nick