Good Energy Home Loan

Good Energy Home Loan finances fixed heat pumps, ceiling, underfloor or wall insulation, double, secondary or triple glazing, positive or balanced-pressure ventilation, and heat-pump or solar water heaters. It also covers residential solar photovoltaic systems and related project and installation costs, lithium-ion or lead-acid solar batteries with necessary equipment, and home rainwater tanks with related components.

For transport, you can buy a new or used electric, hybrid or plug-in hybrid vehicle, an e-bike, or a portable or wall-mounted EV charger. Electric and hybrid motor vehicles must come from a registered motor vehicle trader; private sales, mild hybrids and vehicles whose electric motor does not drive the vehicle are excluded.

You repay the borrowed money with interest and applicable fees. The special rate applies only to the top-up for its first three years. Afterwards the loan moves to ANZ’s floating rate, which can go up or down over time and change your repayments. You can instead arrange a Standard fixed rate, or a Special fixed rate if you are eligible. The maximum loan term is 30 years. If you miss a payment, ANZ can charge default interest at your interest rate plus 5 percentage points a year on the overdue amount.

Each top-up must be at least NZD 3,000. Several top-ups are possible, but lending under the offer cannot exceed NZD 80,000 per customer at a time. Repaid amounts may become available for a further application, subject to a lifetime total of NZD 500,000 drawn under Good Energy Home Loans. If an upgrade costs more than NZD 80,000, the extra borrowing uses ANZ’s rates advertised at that time.

Existing security normally also secures this additional borrowing unless your loan summary says otherwise. For a mortgage, you must keep the property insured and obtain ANZ’s agreement before selling it or giving the same security to another lender. If ANZ sells mortgaged property after a breach, you remain responsible for any unpaid shortfall. Repayments must come from an ANZ transaction account.

Repaying early or changing a fixed-rate loan can incur an Early Repayment Recovery charge. The product page describes a first regular-repayment increase of up to NZD 250 a week and an annual lump sum of no more than 5% of the current loan amount without that charge. The loan terms also qualify exemptions by whether this is your first extra repayment that year. The year begins when the fixed period starts and resets on its anniversary. Before combining extra payments or changing the loan, ask ANZ to confirm the charge for your proposed payment.