As the focus on sustainability continues to grow across New Zealand, consumers want their homes to be warm, dry and more resilient against future climate impacts. Improvements made today can help ensure homes are better prepared for natural hazards and extreme weather.

New or current Westpac Choices Home Loan customers can access a loan of up to NZ$50,000 interest free for five years, to help them make improvements that increase both energy efficiency and climate resilience, while creating more comfortable homes to live in.

“During winters especially, keeping homes warm and dry is a major priority,” says Geri Fraser, portfolio head of home lending, Westpac New Zealand.

“We recently broadened our loan offering to include climate resilience measures. Funding these kinds of upgrades at a zero interest rate makes them much more accessible for customers.”

Value of resilience

Fraser notes that as customer needs changed, the Greater Choices Home Loan expanded into a broader sustainability and resilience offering.

The loan now covers four categories. The first is energy efficiency, which includes upgrades such as heat pumps, insulation and double glazing designed to make homes warmer and more energy efficient.

The loan’s renewable energy category can be used for solar panels and related systems that help to reduce both electricity bills and carbon emissions.

“Climate change resilience is another category,” says Fraser. “It covers home improvements like redirecting water flow, waterproofing homes and even raising floor levels to help reduce flood risk.”

The fourth category is low-carbon transport, which helps customers purchase electric vehicles and chargers. “Demand in this category has nearly doubled over the past two months,” says Fraser.

Strong customer uptake

In the past six months, Westpac New Zealand has written close to NZ$46.5 million in Greater Choices Home Loans.

“The strongest demand continues to come from the energy efficiency category, with homeowners investing back into their properties to improve comfort and reduce energy use,” says Fraser.

Customers can take out more than one Westpac Greater Choices Home Loan, provided they don’t exceed the NZ$50,000 limit overall.

Best offering in the market

“We are the only bank that offers zero interest on this type of loan to help New Zealanders improve the comfort and resilience of their homes,” says Fraser.

“We’re really proud that we have the best offering in this space in New Zealand across all of the major banks.”

Find out more

As a CA ANZ member, you’re eligible for a preferential Westpac Choices Everyday Home Loan rate. To learn more, click here.