Finance debt

New green mortgage rate from lowest ever

Online lender, has announced a further cut to its Green Home loan, putting it 117 basis points (bps) below the average variable rate for homeowners’ mortgages in Mozo’s database.

The new variable rates have come into effect:

  • Green real estate loan: This eco-friendly home loan has decreased by 20 basis points, rates start at 1.88% per annum (comparative rate of 2.30% per annum*). At the time of writing, this green loan is among the lowest in Mozo’s database.
  • Green construction loan: For those looking to build a green home, this loan starts at 1.88% per annum (comparative rate of 2.33% per annum*).
  • Green Construction Investor: This investor loan now starts at 2.34% pa (2.63% pa ​​comparison rate*) for those looking to construct environmentally friendly buildings. Managing Director Marie Mortimer says green loans are the future and they wanted to reward Australian families for choosing to build or buy a more environmentally friendly energy efficient home.

“These days, more and more consumers are looking for sustainable financing options. We were one of the first to launch a discount on ‘green’ home loans, and now we’re leading the market again with the lowest ‘green’ home loan rates available in Australia,” she says .

Over the past week, has cut rates on its many products. Earlier this week, it announced ultra-low variable auto loan rates.

How do the new rates compare?

For starters, homeowner loans are both 117 basis points lower than the average variable mortgage rate of 3.05% in our database. Green loans are also lower than the average rate of 2.46% for loans made specifically for green homes found in Mozo’s database.

To find out more about these home loans, including all the features and rates involved, see our page.

Alternatively, see how compares to other great low variable rate loans in the table below or by visiting the Mozo Home Loan Comparison Centre.

* ATTENTION: This comparison rate only applies to the example or examples given. Different amounts and durations will result in different comparison rates. Costs such as withdrawal charges or prepayment charges, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate shown is for a secured loan with monthly principal and interest repayments of $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate, loan amount and term entered. Rates, fees and charges, and therefore the total cost of the loan, may vary depending on your loan amount, loan term and your credit history. Actual repayments will depend on your personal circumstances and changes in interest rates.

^ See Mozo Experts Choice Home Loan Awards information

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