New Build
Buying or building a new green home comes with great rewards.
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Clean Energy Home Loan for newly built homes
Our New Build rates
Bank Australia features
"easy process and really personalised service from my Lending Consultant and both loans are at very competitive interest rates"
Rob from NSW
Reduced rates for going green
All the features you'd expect in a regular home loan, plus a great reward for going green.
100% Offset
Link your loan to your transaction account to reduce the amount of interest you pay.
Clean money
Home loan interest payments support a bank committed to using money as a force for good.
Who and what it's for
- Owner occupiers
- Investors
- Qualifying properties in Australia - check the criteria below
Is this product right for you? Find out more
How to qualify
To be eligible for the Clean Energy Home Loan New Build, you'll need to meet these general conditions and the Mandatory Criteria below.
You must be a resident in Australia for tax purposes and the property must be in Australia.
The loan must be for the purpose of buying, building or refinancing an eligible property.
The eligible property has a value up to $2.5m.
If you're using multiple properties to secure your loan, the property eligible for the Clean Energy Home Loan must account for at least 65% of the total security value.
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House or apartment
To get started, select if you have a freestanding house or apartment / strata title home.
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Mandatory Criteria
All of these requirements must be fulfilled in order to be eligible for this loan.
All electric
The property has all electric fixed appliances and no gas (cooking, hot water, space heating).
Required evidence:
One or more of the following that adequately demonstrates your property has only electric fixed appliances and no gas:
- NatHERS certificate with Whole of Home rating, listing only electric fixed appliances under the Appliance schedule;
- Confirmation of gas abolishment or disconnection from your gas retailer or distributor;
- A Contract of Sale or property valuation (issued by a certified property valuer) detailing that the home is not connected to gas;
If you’re unable to provide sufficient evidence, you may supplement the above with:
- A signed ‘All electric’ customer declaration supported by a signed statutory declaration confirming the ‘All electric’ customer declaration is true and correct. State or Commonwealth statutory declarations are acceptable.
NatHERS 7.5 star rating or higher
A Nationwide House Energy Rating Scheme (NatHERS) certificate is usually produced at the design stage of a home, and it shows the property’s star rating out of 10.
Required evidence:
- A coloured NatHERS certificate issued by a NatHERS-accredited assessor, detailing the property address and a star rating of 7.5 stars or higher.
- ACT only: A black & white NatHERS certificate issued by a non-accredited assessor with a star rating of 7.5 stars or higher, in conjunction with an ACT Energy Efficiency Rating (EER) certificate issued by the same assessor with an energy efficiency rating of the same star rating.
Rooftop solar
The property has a rooftop solar system (of any size) whose main components (modules/panels & inverter) are listed below.
- Supplied by a New Energy Tech (NET) Approved Seller (for solar PV);
- Installed by a Solar Accreditation Australia (SAA) accredited installer, and;
- Included on the Clean Energy Council approved product lists for both: solar modules (panels) and inverters.
Required evidence:
- Paid tax invoice, committed solar proposal, electrical safety compliance certificates, or a building contract, that includes sufficient detail to satisfy the following:
- Supplier is a New Energy Tech (NET) Approved Seller (for solar PV).
- Installer is Solar Accreditation Australia (SAA) accredited.
- Make and model of solar modules (panels) are listed on the Clean Energy Council approved product list.
- Make and model of solar inverter is listed on Clean the Energy Council approved product list.
- Optional: if evidence of supply or installation is not available or missing required information, you may supplement your evidence with a statement of supply / installation– rooftop solar.
Home built within preceding 18 months
The property was built within the preceding 18 months from the date of the loan application.
Required evidence:
- Occupancy Permit or Certificate, or Certificate of Final Inspection dated within the preceding 18 months.
Building a new green home?
If you are building a new home you may be able to access a Clean Energy Home Loan Construction Loan before your build is completed.
Talk to your builder and once you're both comfortable that your building plans meet the Mandatory Criteria, complete the Clean Energy Home Loan construction loan declaration form and provide it along with your Mandatory Criteria evidence.
Note: Interest payments for construction loans kick in gradually when portions of the loan are accessed as the project progresses.
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Clean Energy Home Loan - New Build key information
Learn more about the New Build Clean Energy Home Loan option, eligibility criteria and additional guidance in the key information document.
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Start your application now
Apply for a loan or pre-approval. All you need is your driver's licence or passport, and your Medicare card, to get started.
Fees and disclosure documents
Fees and charges
Here's what to expect with our Clean Energy Home Loan. Be sure to factor in related costs like stamp duty, legal fees, building reports, and insurance.
| Fee | Cost |
|---|---|
| Establishment fee | $0 |
| Annual fee | $199 |
| Monthly offset account fee | $0 |
| Redraw fee | $0 |
| Platinum Visa Credit card annual fee | $0 |
| Mortgage discharge fee | $275 + Government fees |
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Customer story
How Ashley and Julia built their off-grid, energy-efficient solar passive house
“You can still have a beautiful home. You can still make decisions on layouts and a flow that matches your family’s needs. You don't have to compromise on a good house just to have a green home.”
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Need support with your home loan?
Head to our help section for more information.
Things you need to know
GENERAL ADVICE
- Any information and advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you and seek any third party advice you need.
- Before deciding to apply, we provide and recommend you read our Financial Services Guide.
- All applications are subject to a credit assessment and approval. Terms and conditions apply. All applicable terms and conditions will be included in our loan offer.
- Additional fees and charges may be payable – all relevant details will be included in our loan offer.
- Information and interest rates are current as at the date of publication and are subject to change at any time, at the discretion of Bank Australia Limited.
- This document does not constitute a contract for finance.
- * Comparison Rate: The Comparison Rate is based on a loan of $150,000 for 25 years. Fees and charges may be applicable.
IMPORTANT: The Comparison Rate applies only to the example given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees, early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan. - Terms and conditions, fees and charges apply. Loans subject to normal lending criteria and approval.
CLEAN ENERGY HOME LOAN
- The Clean Energy Home Loan variable and fixed interest rates are for Owner Occupiers and Investors making Principal and Interest repayments with a Loan to Value (LVR) ratio of less than or equal to 90%.
- Minimum new borrowings of $10,000 for an Owner Occupied and Investor Home Loans.
- An eligible property can only qualify for a Clean Energy Home Loan once.
- When your property qualifies for a Bank Australia Clean Energy Home Loan you receive a reduced interest rate at the time that is only applicable to the Clean Energy Home Loan and not applicable to other Bank Australia home loan products.
- Any reduced interest rate applicable to a Clean Energy Home Loan is conditional on the property qualifying as eligible at the loan application date. Evidence provided to support eligibility must be dated prior to the loan application date. Refer to the New Build key information document for information on home eligibility requirements.
- If eligibility of your home cannot be verified, Bank Australia may decline the application.
- For variable rate loans, a reduced variable rate applies for 60 months from the date the loan is settled. For fixed rate loans, the reduced rate applies for the length of the 3 year fixed rate period. In either case, the rate payable on the loan will then revert to the lowest advertised variable Offset Home Loan rate at that time.
- The Clean Energy Home Loan annual fee of $199 is payable in advance and is non-refundable. The fee is debited to the loan balance on funding, and then annually on the anniversary date of funding. The fee waiver on the Platinum Awards Visa credit card will cease to apply once the loan is repaid in full. Other fees and charges may be payable. Refer to the Lending and Credit Card fees, charges and transaction limits available from bankaust.com.au or by calling 132 888 for more details.
- Any information provided in relation to suppliers and installers of energy efficiency upgrades is provided as a general guide only and is not intended to be exhaustive or definitive. This information does not:
- take into account your circumstances, objectives, financial situation, or the specific characteristics of your property. You should undertake your own research and, where appropriate, seek independent professional advice before making any decisions.
- Constitute any guarantee of current or future eligibility for a Clean Energy Home Loan.
- Please note we make no representation or warranty about the suitability or appropriateness of any home upgrades or appliances for your particular circumstances.
- The Clean Energy Home Loan offer may be modified, replaced, or discontinued without notice.