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Are your clients thinking about making their home more sustainable?

A simple 2nd loan

Simply add this loan when applying for your client’s Westpac home or investment loan including refinance. No offset, package or redraw available. Your clients could borrow up to $50k.

Home improvements

Your client could make bushfire, storm and flood resilience upgrades. They could also manage their energy consumption, with upgrades like insulation and solar.

Cool rate, no monthly fees 

Your clients won't pay any loan establishment or monthly account fees.

Flexible repayments

Your clients are free to pay it off as fast as they like, with unlimited extra repayments (redraw unavailable).


Cool rate

4.49% p.a.

Variable interest rate

4.87% p.a.

Comparison rate1


$4k to $50k loan amount on Principal & Interest repayments. 10-year maximum loan term. One Sustainable Upgrades home or investment loan per property. 

 


Does your client qualify?

What they need to be eligible

  • They must have or be approved for a  Westpac home or investment loan with a minimum loan size of $150k  
  • The property securing their Westpac home or investment loan must be the property where the energy-efficient or climate-resilient upgrades are being installed
  • Lenders mortgage insurance must not be applicable at time of applying.
  • They've chosen from our list of eligible energy-efficient or climate-resilient upgrades
  • The funds can only be spent on eligible upgrades.
     

Let’s get you and your clients started

Choose upgrades

Ensure your clients choose from our list of over 20 eligible energy-efficient or climate-resilient upgrades.

Getting quotes

Your clients should do their own research and get quotes for their chosen upgrades.

Get the green light

Apply for their new loan and Sustainable Upgrades home or investment loan in a combo application. We'll need their quote for conditional approval.

Supply their invoice

After loan approval and installation, share your client’s invoice so we can pay each supplier or installer.

Upgrades

What can this loan be used for? 

Here are types of upgrades available.

Climate-resilient upgrades

  • Bushfire-resilient fencing, non-combustibles 

  • Storm and flood-resilient electricals, strengthened doors and windows 

Energy-efficient upgrades

  • Electric vehicle charging

  • Solar panels & batteries

  • Double-glazed windows

  • Energy efficient aircons

  • Solar hot water systems

  • Hot water heat pumps

  • Induction cooktops


For the full list, visit our eligible upgrades page.


FAQs

What does my client need to provide to apply?  

Your client needs the usual loan application docs (income, expenses, assets, liabilities),  a quote for one or more eligible upgrades from their supplier or installer for unconditional approval. 

For full details, visit our eligible upgrades page.

Will they have two separate loans?

Yes. Your client will be managing their Westpac home or investment loan, and their new Sustainable Upgrades home or investment loan.

Can they get multiple upgrades under one loan?

Yes, up to the value of your client’s approved loan amount (up to $50k). 

 

Resources to share with clients

Better homes

Information for clients about home improvements:

Our home loan advantage

Your client will need to have or be approved for a Westpac home or investment loan.

Things you should know

Conditions, credit criteria, fees and charges apply. Residential lending is not available for Non-Australian Resident borrowers.

This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information and if necessary, seek appropriate professional advice. This includes any tax consequences arising from any promotions for investors and customers should seek independent, professional tax advice on any taxation matters before making a decision based on this information.

Key Fact Sheet for Home Loans


1Sustainable Upgrades home loan and Sustainable Upgrades investment loan comparison rate: The comparison rate is based on a loan of $30,000 over the term of 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.