A loan to help make your home more sustainable
Thinking about making your home more sustainable?
A simple 2nd loan
An extra home loan or investment loan secured against your property, with no package or offset available. Borrow up to $50k.
Home improvements
Make bushfire, storm, and flood resilient upgrades. And you could manage your energy consumption, with upgrades like insulation and solar.
Cool rate, no monthly fees
You won't pay any loan establishment or monthly account fees.
Flexible repayments
Pay it off as fast as you 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.
Backed by the Clean Energy Finance Corporation
We’re working with Australia’s ‘green bank’, the Clean Energy Finance Corporation (CEFC), which invests to help Australia’s transition to net zero emissions. Included in our rate is support from the CEFC through their Household Energy Upgrades Fund.
Do I qualify?
What you need to be eligible
- You must have or be approved for a Westpac home or investment loan with a minimum loan size of $150k
- The property securing your Westpac home or investment loan must be the property being upgraded for energy-efficiency or climate-resilience
- Lenders mortgage insurance must not be applicable at time of applying.
- You've chosen from our list of eligible energy-efficient or climate-resilient upgrades and funds spent on these upgrades only.
Explore energy-efficient upgrades
Cogo is a third-party platform that estimates the energy efficiency of a comparable home to yours. With a quick online assessment, they will provide energy-efficient upgrade suggestions, including typical costs, estimated energy bill reductions, and potential rebates2.
The Home Energy Efficiency Tool is offered by Cogo and not Westpac Banking Corporation (Westpac). Use of the Tool is not required to apply for a Sustainable Upgrades Home or Investment Loan.
How to apply
What upgrades can this loan be used for?
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
You'll need the usual loan application docs (income, expenses, assets, liabilities), and a quote for one or more eligible upgrades from your supplier or installer for unconditional approval.
For full details, visit our eligible upgrades page.
Keep exploring
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.
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.
2Cogo: The Home Energy Efficiency Tool (the Tool) is offered by Cogo and not Westpac Banking Corporation (Westpac). The Home Energy Efficiency Tool is not exclusive to Westpac customers. Use of the Tool is not required to apply for a Sustainable Upgrades Home or Investment Loan.
By accessing Cogo's Tool, you will enter a third-party site not owned by Westpac. Any personal information you provide to Cogo's website will be collected, used and disclosed in accordance with Cogo's Privacy Policy, also available on their website.
Cogo is responsible for the accuracy and completeness of the information provided by the Tool. Westpac gives no representation, warranty, or guarantee (including as to the quality, accuracy or completeness) of the information. You can access Cogo’s disclaimer on their website.
Westpac has paid Cogo a fee for the provision of the Home Energy Efficiency Tool. Cogo is not a referral partner of Westpac for consumer credit, including in relation to the Sustainable Upgrades Home Loan (SUHL). Westpac does not and will not pay or receive any commissions to or from Cogo for customers who take up the SUHL. Cogo will not provide any credit assistance to Westpac customers.
You should carefully consider whether the information provided by Cogo is suitable for your situation. We recommend seeking independent professional assessments and obtaining quotes to ensure the upgrades are appropriate for your home and local climate before making any changes.