Green Loans Subsidy

About the subsidy

Many households who take up a Home Sustainability Assessment may be interested in taking out a loan to undertake the home improvements suggested in the assessment report.

To assist these households, the Australian Government has lowered the cost of finance by providing a loan subsidy to participating financial institutions.

This subsidy covers the interest on borrowing of up to $10,000 for a period of up to four years.

The household can choose which participating bank, credit union or building society they wish to apply for a loan with.

Participating financial institutions have agreed to national requirements for passing on the subsidy. This agreement includes safeguards to ensure that the full subsidy is passed on to the household through reduced cost finance.

Eligibility to apply for a subsidised Green Loan

Applicants are eligible to apply for a subsidised Green Loan if the following criteria have been met.

• The applicant must be the recipient of a valid Assessment Report for the Home.
• The applicant must be either the owner of the Home or a trustee of the Home (as shown on the current title) or listed on the current lease of the Home at the time of applying for the Green Loan.
• The applicant must have a taxable income no greater than $250,000 per annum. Suitable evidence of income may include the most recent Notice of Assessment produced by the Australian Taxation Office.
• The applicant is eligible for only one Green Loan per Assessment Report.

Notes:

Where the applicant does not own the Home, they must adhere to their lease agreement in seeking permission from the owner before undertaking any amendments to the property.

Where the dwelling is owned by an Australian Registered Charity, the applicant must have the full legal authority to apply on the organisation's behalf..

Other available subsidies and incentives for the same items or actions under other programs do not affect eligibility for a subsidised Green Loan..