ANZ Bank NZ Ltd introduced a new factor to its lending policy today – a discount for lifting the construction standard.
The bank’s retail & business banking manging director, Antonia Watson, said the healthy home loan package would include a 0.7% discount off the standard fixed home loan rate, 1% off the standard floating & flexible home loan rates, and fee waivers across a range of accounts.
“The fixed rate discount would mean a one-year rate of 3.75% at today’s rates,” she said.
“Most existing New Zealand homes only achieve a 2 or 3 rating, and new homes – even though they’re built to the Building Code – will only achieve 3 or 4.”
The bank will make this package available for new-builds & upgrades which meet the Green Building Council’s Homestar rating of 6 or above.
- I’ll have more detail on this issue, and on Homestar, over the weekend.
Attribution: Bank announcement.