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Clean Energy Home Loan 5-Year Variable 5.13% p.a. (CR 5.89%) @ Bank Australia + 0.25% Broker Rebate @ My Brother The Broker

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One of the lowest rates on the market from Bank of Australia.

https://www.bankaust.com.au/banking/home-loans/clean-energy-…

Rebate is avaliable via mybrotherthebroker@PCFS

Owner Occupied P&I
Variable Rate: 5.13% CPR 5.89 with offset account. $350 annual fee.

CPR is based on the life of the loan and a balance of $150,000.

Eligibility requirements:
• The property must be all-electric, no gas.
• In the past 18 months you have done 3 activities from a list of retrofits including: solar, battery, induction cooktop, ceiling fans, EV charger, electric hot water, insulation, reverse cycle AC, double-glazed windows. Check out the link for all the details. Alternatively you can get a scorecard assessment and demonstrate you have improved the performance of your property.
If you can tick those boxes you are on track for one of the lowest rates going.

PLUS Broker rebate (in addition via broker only. NOT affiliated with the bank) 0.25% eg $2,500 for a $1m loan size broker rebate per net loan (available via broker only, not via the bank)

Contact us below for this deal plus our broker rebate (NOT affiliated with the Bank)

Please email us at first instance and we will reply ASAP. OzB messages may get delayed do not call. If you don't get email reply within 24-48hrs (some emails go into our spam), pls text us.

Billy Vong- Director @ MyBrotherTheBroker Authorised Credit Representative of Purple Circle Financial Services
Email: Billy@mybrotherthebroker.com
Text: 0420668956 to arrange a call
ACL:486112
Authorised Credit representative number: 559632
ABN 86 676 451 424

Terms and Conditions of our Broker Cashback Offer:
• Broker cashback of 0.25% of net loan size is available for new customers submitting a refinance application or purchasing a property between 01/03/2025 and 30/04/2025.
• Cashback is paid net of funds in any linked offset accounts.
• The loan must be kept for at least 24 months and 1 day. Broker cashback will be paid after 24 months.

Disclaimer:
The information provided is for general education purposes only and is not intended to constitute specialist or personal advice. This has been provided without taking into account your objectives, financial situation or needs. Because of this, you should consider the appropriateness of the advice to your own situation and needs before taking any action. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy.

Related Stores

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Comments

  • Email address and website don't work?

    • Thank you, you are right mt email domain isnt working. I'll look into it asap.

      • Email is working

  • +1

    This is a pretty good deal. The annual fee of $350 jacks the comparison rate waaay up, though; with the commission, I think this would only just be better than Unloan

    • Seems drastically better than unloan unless you have a tiny mortgage.

  • What's the upfront commission?

    • Updated to 0.25%

  • +1

    Just went onto this loan myself and the application process was quick and easy. Shame you didn't post this deal a month ago mate!

    • Yes, unfortunate it took a while to get acreddited

    • Nice. I want to switch but need to do all the work first. Been looking into it for a few months and the variation on quotes and the hordes of dodgy looking providers is extremely offputting.

      • +1

        If your in Sydney I can recommened some trades if needed.

        • ty, but down in vic

  • Does bank Australia require bank statements? Or they simply ask for tidy expenses?

    • Bank statements are required along with payslips or other proof of income.

      • So they use bank statements for expenses ?

        • They have a minimum expected amount which is the floor.

  • Just shot you a text mate - looking forward to chatting.

  • Hi Billy,
    i just sent you a message to explore my options with this offer.

  • A 2 year wait for broker rebate, ouch.

  • Those are expensive upgrades. I have done that whole list except ceiling fans and a battery but over 5 years rather than 18 months. I have no gas any more (meter removed) but my induction is 2 portable plates not permanent because more $ so probably won't count either.

    • Hey Dp,

      Agreed the cost involves are quite large. Is there any chance 1 or 2 were done in the last 18 months? If so, you may be 33% or 66% of the way there.

      I generally recommend the below.
      1. Fans $800
      2. Cooktop $600-800
      3. Aircon $1500-$2000

      You will recoup the cost in roughly a year on a $700,000 loan.

      Billy

      • Thanks for the reply. Unfortunately only gas meter removal and heat pump hot water within the last 18 months, and gas removal isn't an eligible 'activity' . The cost of the others is prohibtive (need to do ceiling strapping for fans, will do permanent induction cooktop as part of kitchen reno so need to save up for that. Additional AC units and will require a full electrical upgrade and asbestos removal - the joys of a 1960s house!)

        • EV charger is $200, and usually for a ceiling fan you would just attach a piece of timber between the two joists, and then you attach the fan through the ceiling directly to that piece of new timber - not sure what "ceiling strapping" is, but the timber noggin should be a simple solution.

          • @Nom: EV charging cables you chuck in the boot are $200 (mine was $170), but the fixed wall charger is closer $1200 installed or $3k for 3-phase solar aware like Zappi.
            Ceiling strapping is where sagging ceilings are lifted up from above. Making holes in these ceilings for a fan is asking for a ceiling collapse. (And I'd still need a switchboard upgrade to run an electrical supply to the fan. And a contractor might rightly refuse if they suspect the ceiling will fall in.)

    • I have emailed them to ask whether portable induction cookers would meet this requirement. I am in the same position - using portables after gas disconnecting until we redo the kitchen. will post outcome (I expect a no).

  • Hi Everyone,

    Bank of Australia informed me they will be pausinfg applications due to strong demand.

    They are looking to reactivate it in 3-6months however eligibility requirments may change.

    I have provided them feedback regarding their strict servicing requirements and will work them them to improve it.

    If anyone would like to stay updated shoot me an email, I'll keep you updated and prepared for when applications resume.

    Bank Australia: Due to strong demand, we’re pausing new applications for our Clean Energy Home Loan Renovate, effective 5:00pm 28 March 2025.

    Sorry to all those working on getting on the deal, they should of provided everyone more notice.

    • Thanks Op.
      What's the catch here? How can it be so good? Heads above everyone else by 50 points?

      • partially government funded through clean energy financing

        • What happened with your portable induction cookers? Did they allow it?

        • Thanks for that, I just found this on their site.

          We're able to offer the Clean Energy Home Loan reduced rates partly thanks to the support of the Federal Government-backed Clean Energy Finance Corporation who contribute to the reduced rate, with the remaining portion of the reduction at the time funded by Bank Australia.

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