An offset account is a transactional account that is linked to your home loan. Any balance in this account is offset against an equivalent portion of your home loan balance and generates an interest reduction on your loan.
Gateway’s Green Home Loan has been designed to benefit our Members who share our values of doing the right thing for the environment. If your property has established environmentally friendly and sustainable features, you’re planning renovations to add them to your existing home, or you’re planning to construct a new eco-build, you could benefit from a 0.15% pa discount from Gateway’s Premium Package Variable Rate (LVR up to 80%) Home Loan1.
Our Green Home Loan offers all the benefits of our Premium Package Home Loan such as 100% Offset, redraw, unlimited repayments and a 0.10% bonus on Term Deposit rates.
Am I eligible?
This loan is eligible for the purchase of existing homes, refinancing of an existing home, or construction of new builds. There are three options in order to be eligible for the discounted Gateway Green Home Loan:
Option 1
Your property has a Residential Efficiency Scorecard certificate completed by an accredited assessor showing an energy efficiency rating between a minimum 4 star or up to a maximum 6 star rating.
Do you have a Residential Efficiency Scorcard rating of 7 stars or higher? You may be eligible for a Green Plus Home Loan, and a larger discount!
Option 2
You’re looking to make environmental enhancements to your home - you will need a Residential Efficiency Scorecard certificate completed by an accredited assessor showing an energy efficiency rating between a minimum 4 star or up to a maximum 6 star rating within 12 months of the loan funded date.
Find out more information on the Residential Efficiency Scorecard
Option 3
Alongside the usual credit criteria your property needs to have at least 3 of the following environmental features in order to be eligible for the discounted Gateway Green Home Loan. This loan is eligible for the purchase of existing homes, refinancing of an existing home, or construction of new builds that include at least 3 of these features:
Gateway’s Green Home loan not only offers a rewarding interest rate for homeowners that have taken steps to make their home more environmentally friendly, but also offers the flexibility and benefits you would want with your home loan.
Does your property exceed the maximum 6 star rating criteria for a Green Home Loan? You may be eligible for a Green Plus Home Loan.
Want to know more about the Gateway 100% Offset Account?
By linking an Offset Account to your Green Home Loan, the balance in your Offset Account will offset against the balance of your home loan, reducing the interest you’ll pay and potentially shortening the term of your home loan. Having your salary deposited directly into your Offset Account is a great way to make your money work harder for you. Any funds, no matter how small, helps to reduce the interest you pay on your loan.
A 100% Offset Account comes without account keeping or service fees, whilst still giving you the flexibility of 24/7 access to your funds when you need them with a Gateway Visa Eco Debit Card.
Want to apply for a Gateway Green Home Loan online? You’ll need the following documentation to complete and submit the application:
Home Loans |
|
|---|---|
| Interest Rate : | 3.14% pa |
| Comparison Rate : | 3.47% pa |
| Establishment Fee : | 0 |
| Valuation Fee : | $0 |
| Annual Fee : | $299 |
| Monthly Fee : | $0 |
| Discharge Fee : | $300 |
| Redraw Facility : | Yes |
| Redraw Fee : | 0 |
| Offset Account : | Yes |
| Additional Repayments Accepted : | Yes |
| Additional Repayments Fee : | $0 |
| ATM/EFTPOS Access : | No |
| Branch Access : | Yes |
| Split Loans : | Yes |
| Criteria : | Residential Efficiency Scorecard rating of 4 stars up to a maximum 6 star rating or Statutory Declaration confirming your home has the relevant environmental features required |
Gateway reserves the right to vary these interest rates at any time. Interest rates quoted are for new lending only. Existing borrowers should contact Gateway to discuss their requirements. Applications for finance are subject to our standard credit assessment criteria. Full terms and conditions are included in the loan offer. Fees and charges apply.
Comparison rates are calculated based on a loan amount of $150,000 over a 25-year term. WARNING: Comparison rates are true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
1 The Green Home Loan interest rate is linked to the Premium Package base rate will have a 0.15%pa discount from Gateway’s Premium Package Variable Rate (LVR up to 80%) Home Loan. This does not apply to Special Offer Premium Package interest rates.
^Earn an extra 0.10%p.a. on your Term Deposit accounts and enjoy a 10% discount off CGU General Insurance premiums
