New Build
Buying or building a new green home comes with great rewards.
LiamNeal-00617-1201x800-5b2df79.jpg)
Clean Energy Home Loan for newly built homes
Buying or building a new green home is one way you can take action on climate change. A Clean Energy Home Loan New Build can support you to buy or build a new all electric, highly energy efficient home, offering a reduced^ variable home loan rate for 5 years or fixed rate for 3 years.
Renovating or upgrading an established home? See our Clean Energy Home Loan Renovate instead.
Our New Build rates
Signature features
How to qualify
To be eligible for the Clean Energy Home Loan New Build, you'll need to meet these general conditions and the eligibility 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. If you're using multiple properties to secure your loan, the property eligible for the Clean Energy Home Loan New Build must account for at least 65% of the total security value.
The eligible property has a value up to $2.5m.
1
House or apartment
To get started, select if you have a freestanding house or apartment / strata title home.
2
Eligibility 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;
- Residential Efficiency Scorecard detailing all electric fixed appliances;
- Confirmation of gas abolishment or disconnection from your gas retailer or distributor;
- Gas plumbing compliance certificate(s) for works to cap your gas meter;
- Gas plumbing compliance certificate(s) for works to remove all fixed gas appliances (cooking, hot water, space heating);
- A Contract of Sale or property valuation (issued by a certified property valuer) detailing that the home is not connected to gas;
- Confirmation that your property is not connected to gas, issued by an appropriate Government department or agency, or the relevant gas distributor.
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:
- Tax invoice(s) from the supplier & installer with equipment and installation details.
- 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.
LiamNeal-00522-751x494-d5040de.jpg)
Clean Energy Home Loan key information
Learn more about the Clean Energy Home Loan options, eligibility criteria and additional guidance in the key information document.
4
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.
Building or undertaking a major renovation?
If you're building a new home or undertaking a major renovation, the construction loan feature allows you to draw down on your loan as the project progresses, with interest payments kicking in gradually, as portions of the loan are accessed.
If your building plans meet the Clean Energy Home Loan New Build eligibility criteria above, you may be able to access the reduced interest rate before your build is completed. We'll ask you and your builder to confirm that your finished home will meet the energy efficiency standards detailed in your plans, via our Clean Energy Home Loan Construction Loan declaration form.
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 | $350 |
| Monthly fee | $0 |
| Redraw fee | $0 |
| 1st valuation fee | $0 |
| Platinum Visa Credit card annual fee | $0 |
| Mortgage discharge fee | $350 + Government fees |
LiamNeal-0355-751x494-86d2a2c.jpg)
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.”
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.
- Rates apply to new applications received as per effective date set out above however are subject to change at anytime.
CLEAN ENERGY HOME LOAN
- The Clean Energy Home Loan Package 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%.
- When you qualify 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.
- 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.
- Minimum new borrowings of $10,000 for an Owner Occupied and Investor Home Loans.
- Available to new borrowers who submit their loan application as per effective date set out above.
- The Clean Energy Home Loan annual fee of $350 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.
- Please note we make no representation or warranty about the suitability or appropriateness of any home upgrades or appliances for your particular circumstances. Please make your own investigations and seek any independent advice you require.