CBA offers cheaper mortgage for green homes

Advertisement

APRA highlighted the extent of Australian banks’ lending to carbon-emitting parts of the economy in its climate vulnerability assessment, which focuses on transition and physical climate risks. Under the CVA, banks are required to assess residential mortgages, as well as corporate and business lending exposures. Together these account for three quarters of banks’ carbon exposure.

“It may actually be that some of these customers choose to stay with us for longer, but that’s certainly not the main driver behind this offer,” he said.RateCity said there are now seven smaller lenders offering green mortgages with variable rates as low as 1.88 per cent at loans.com.au and 1.9 per cent at Bank Australia, which has a 2030 target for its net zero plans.

“The green home loan space has had a slow start in Australia, but with CBA now in the game, more lenders are likely to follow.”

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cash in the bank? You’re likely to be losing moneySavings account interest rates are falling well short of resurgent inflation. There are better rates available, so it pays to shop around for the best deals. jcollett_money Not 'Not likely'....surely! Surely losing money jcollett_money No problem for me. I haven’t got any money in the bank… or my wallet 😂 jcollett_money If the savers do due diligence there are still some savings accounts that pay as much as 1.20% for a deposit of $200
Source: smh - 🏆 6. / 80 Read more »