With power prices rising and more homeowners wanting warmer, healthier, and more energy-efficient homes, New Zealand banks are now offering “green” home loan top-ups designed specifically for sustainable upgrades.
For many homeowners, these loans can make renovations like insulation, double glazing, solar panels, heat pumps, ventilation systems, and hot water upgrades far more achievable by offering heavily discounted interest rates compared to standard lending.
If you’re planning a home renovation, extension, or energy-efficiency upgrade in Christchurch or North Canterbury, these green loan products can be one of the most affordable ways to create a warmer, healthier, and more comfortable home.
If you’re weighing up whether it’s better to improve your current home rather than move, you might also find our article on whether you should sell or renovate your home helpful.
In this guide, we’ll walk you through what our major banks are offering and how they compare.
If you’ve already got your loan sorted, head over to our renovation services to find out more about how we can help.
What Can Green Home Loans Be Used For?
While every bank has slightly different criteria, most green loan products can generally be used for:
- Heat pumps and energy-efficient heating
- Insulation upgrades
- Double or secondary glazing
- Solar panels and batteries
- Ventilation systems
- Heat pump hot water systems
- EV chargers
- Water-saving or sustainability upgrades
- Some electric or hybrid vehicles
When planning a renovation, homeowners are already considering ways to improve functionality, comfort and performance of their homes, so these loans align well and should be taken advantage of.
For us as renovation builders, this is becoming increasingly relevant as more clients look to future-proof older homes rather than move.
ANZ Good Energy Home Loan
ANZ offers one of the more flexible green lending options available in NZ through its Good Energy Home Loan.
Key Terms
- Up to $80,000
- 1.00% p.a. fixed for 3 years
- Available as a top-up to an existing ANZ home loan
- Requires sufficient equity and lending approval
- Available for eligible energy-efficient upgrades only
Eligible Renovation Upgrades
ANZ includes a broad range of sustainable improvements including:
- Insulation
- Heat pumps
- Solar systems
- Double glazing
- Ventilation systems
- Water heating upgrades
- Rainwater tanks
- EV chargers and electric vehicles
Westpac Greater Choices Home Loan
Westpac currently offers the standout deal in the NZ market from an interest-rate perspective with it’s Greater Choices Home Loan.
Key Terms
- Up to $50,000
- 0% interest for 5 years
- No establishment fee
- Available to eligible Westpac home loan customers
- Can be repaid early without penalty
Eligible Renovation Upgrades
Westpac allows funding for a wide range of sustainability and resilience improvements including:
- Solar systems
- Insulation
- Heat pumps
- Double glazing
- Ventilation systems
- Underfloor moisture barriers
- Replacement of gas appliances and removal of gas connections
- Electric vehicles and chargers
- Home resilience upgrades such as drainage and flood mitigation works
ASB Better Homes Top Up
ASB positions its Better Homes Top Up loan around making homes “warmer, drier, and more energy efficient.”
Key Terms
- Up to $80,000
- 1.00% p.a. fixed for 3 years
- Available as a home loan top-up
- Generally requires at least 20% equity
- Lending criteria applies
Eligible Renovation Upgrades
ASB supports funding for:
- Insulation
- Double or triple glazed windows or secondary glazing upgrades
- Heat pumps
- Word Burners or Pellet Fires at meet specific regulations
- Moisture reduction including ventilation systems, extractor fans & ground moisture barriers
- Solar systems
- Water heating solutions including heatpump, solar and wetback
- EV vehicles and charging systems
BNZ Better Future Home Loan Top-Ups
BNZ offers a very similar structure to ANZ and ASB, with a strong focus on sustainability-focused home upgrades through its Better Future Home Loan Top-Ups.
Key Terms
- Up to $80,000
- 1.00% p.a. fixed for 3 years
- Available to eligible BNZ home loan customers
- Lending approval and equity requirements apply
Eligible Renovation Upgrades
ASB supports funding for:
- Insulation
- Double or triple glazed windows or secondary glazing upgrades
- Heat pumps
- Ventilation – positive or balanced pressure ventilation systems
- Word Burners or Pellet Fires at meet specific regulations
- Moisture reduction including ventilation systems, extractor fans & ground moisture barriers
- Solar systems
- Water heating solutions including heat pump and solar
- Rainwater tanks
- Electric vehicles and charging systems
Energy-Efficient Renovations Make Sense for Older Homes in Christchurch and North Canterbury
Many older homes in Christchurch and North Canterbury lose significant heat through poor insulation, single glazing, draughts, and outdated heating systems.
Sustainable renovations don’t just reduce environmental impact — they can also:
- Lower monthly power bills
- Improve indoor comfort year-round
- Reduce condensation and dampness
- Create healthier living environments
- Increase property appeal and resale value
- Future-proof homes against rising energy costs
For homeowners already renovating in Canterbury, incorporating energy-efficient upgrades during construction is often far more cost-effective than retrofitting later.
If you’re planning a renovation project, it’s also worth understanding the difference between hiring a specialist renovation builder versus a general builder. Read our article on the benefits of hiring a renovation builder over a general builder to learn more.
Important Things to Know
Before applying for a green loan, homeowners should keep in mind:
- Lending criteria and affordability assessments still apply
- Most banks require sufficient home equity
- Eligible upgrades may vary between banks
- Quotes or invoices are often required
- Promotional rates are generally fixed for a limited term only
- Standard home loan rates may apply after the special term ends
Because these products change periodically, it’s always worth checking directly with your bank or mortgage adviser for the latest terms and eligibility requirements.
If you’re planning a renovation, extension, or home upgrade project, it can also be worthwhile discussing green loan eligibility early in the design and pricing stage so sustainable upgrades can be incorporated from the beginning.
Thinking About Renovating with Some Green Upgrades in Mind?
At Gareth Davis Builders, we love seeing homeowners take advantage of these green loan options to create homes that are warmer, healthier, more energy-efficient, and simply better to live in.
Many older homes across Christchurch and North Canterbury can be cold, damp, expensive to heat, and not designed for modern family living. However, with the right renovations and upgrades, they can be completely transformed into comfortable, functional homes that will serve your family well for years to come. You can check our some of our previous renovation work in our project gallery.
If you’re planning a renovation or extension in Christchurch or North Canterbury and want to incorporate energy-efficient upgrades into your home, get in touch with Gareth Davis Builders to discuss your project.
