Loans.com.au launches a new solar home loan with a discount

More Aussies are looking for greener alternatives in home ownership in 2022, and now more lenders are offering competitive home loans with a focus on the environment.

One example is online lender loans.com.au, which has announced a new solar home loan.

The new loan starts at 4.63% p.a. (5.05% p.a. comparison rate*) for owner-occupiers looking to add solar panels to their homes. For investors, rates start at 4.89% p.a. (5.31% p.a. comparison rate*).

Plus, loans.com.au offers borrowers who install a large enough solar power system, an interest rate discount for five years of 0.60% per year.

“Our Solar Home Loan will help people cut their mortgage repayments and their energy bills, while also fighting climate change by moving them to clean, renewable solar power,” says loans.com.au managing director, Marie Mortimer.

To qualify for loans.com.au's new solar home loan, you must either have solar panels or be planning to install solar panels.

This solar home loan comes with no monthly or ongoing fees and unlimited additional repayments with unlimited redraws. Loans.com.au also offers an offset sub-account for an extra 0.10% p.a. on top of your loan.

How does loans.com.au's solar home loan compare?

For starters, the solar home loan is 57 basis points below the 5.21% average variable home loan in Mozo’s database. It’s also 34 basis points below the 4.97% p.a. average green home loan variable rate in our database.

Loans.com.au is one of the many lenders now offering green loans to customers looking for sustainable options to combat the climate crisis.

If you’re looking to buy property soon, check out Mozo’s home loan guides and tips . Alternatively, you can start comparing home loans below.