By Kylie Cassidy and Stevie Waring
With temperatures dropping, no doubt you’re noticing every little draught through the house or disappearing warmth from your heater—all culminating in ever-increasing power bills. Thankfully, there’s one bank that’s trying to help.
New Zealand is notorious for having cold, uninsulated houses, but the country is starting to understand. As of July 2019, insulation will be compulsory for all rental properties, which is incredible for the health and wellbeing of those renting properties, but it poses an expensive issue for landlords, and this is where ANZ has come to the rescue.
ANZ has pledged $100 million of interest-free home lending to help insulate homes in New Zealand. For each security (property), you may be able to borrow up to $5000 interest free over a 4-year term. This is an incredible opportunity because, not only are ANZ making near-no money off this, but it provides you, your properties or your landlord the opportunity to make Kiwi homes warmer.
The ins and outs:
· No application or establishment fees;
· The loan is specifically for installing installation into the ceiling, walls and floors of your home (so you’re not able to use this for double glazing or heat-pumps, for example);
· The maximum term is 4 years;
· A maximum of two interest-free loans per customer.
Only existing ANZ customers are eligible, however, if you transferred your lending and gave ANZ a mortgage over the house to be insulated, you would become eligible to apply.
As can be expected, you will need to provide ANZ with a quote from a reputable insulation installer.
Shiver no more and get in touch with us if you would like to discuss further.