If you, like most of the Australian population, require a loan to buy, build or renovate a property, why not use the opportunity to give back to the community? You may not know this, but there are ways to ensure that your loan repayments are not only investing in your future home, but also in a better future for Australia. Here are a few ways that ethical home loans can help you make a positive difference in the world, and know that you’re benefiting everyone right down to your own street.
If you want to reduce your environmental impact, then consider taking out a green home loan. Green home loans are almost exactly the same as regular home loans, except they have the added benefit of rewarding those who care about the environment. Green home loans encourage borrowers to buy, build or adapt homes that are more environmentally friendly. In some cases, lenders will offer borrowers lower interest rates and more flexible repayment options providing the home they are investing in meets eco-friendly criteria. This may include the installation of solar panels, water storage tanks or alternative power supplies. Green home loans work via green banks, which are banks that don’t financially support the Australian fossil fuel industry, so you can be rest-assured that your mortgage isn’t funding industries that are detrimental to our environment.
Contributions to charities
If you want to give back to the community, consider taking out a mortgage that support local charities and non-profit organisations. Some lenders, such as Ethical Homeloans, will ensure that once your loan settles, a donation will be made to an Australian charity of your choice. This donation will not cost you any extra money and will be taken from the commission paid to the lender by the bank. The amount donated to this organisation is determined by the amount that is borrowed, but can be a donation of up to 10% of the loan. Whether you want to support animal rights, education or health and medical research, you can rest easy knowing your home loan is making a difference.
If you want to see your home loan making a positive difference in the community and the environment, why not consider an ethical home loan?