Interest-free loans available for Home Insulation
Sat July 6th 2019
If you have a home loan with ANZ you can now borrow up to $10,000 interest-free to insulate your home and instal a heat pump.
Cold, damp, and mouldy homes are a huge social and economic problem in New Zealand, resulting in health problems, expensive energy bills, and degradation of homes.
Healthy homes have been a priority of the government, and as a result comes the introduction of the Healthy Homes Guarantee Act. But now ANZ have launched a major initiative for their home loan customers. Last year they announced that they would be making $100m of interest-free top-up lending available to customers wishing to insulate their homes so they can enjoy a warmer, healthier home.
From July 8th they will be extending this offer to customers wishing to purchase and install heat pumps in their homes, meaning they can now apply for interest-free borrowing for both insulation and heat pumps - up to $5000 for each!
Summary of the offer
- Maximum of two interest-free loans (one for insulation, one for heat pumps) per security held with ANZ (limited to two securities) up to $5000 per loan
- Maximum of four loans per customer
- The loans will be fixed over a maximum period of four years at 0% p.a
- The loan is for the purpose of home insulation or heat pump installation only
- Each loan is limited to a maximum of $5,000 or the value of the quote, whichever is lower
- Lending is subject to normal lending criteria, including an affordability assessment
- The customer is responsible for paying the installer
- We'll advance the loan upon receipt of the quote from a reputable installer and confirmation of an installation date.
If you have an existing home loan with ANZ and would like to apply for interest-free borrowing for home insulation, please contact us for more details.
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