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Lenders have been called upon to relax credit assessments for buyers of energy efficient homes by the Housing Industry Association (HIA) National Policy Congress.
According to the industry body, savings on energy efficient homes will increase households’ capacity to service a mortgage.
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“... Banks need to recognise that if a house is a five or six star home, their energy demands will be far less than if they bought a two star home and therefore will save themselves a significant amount of money in heating, cooling and water bills,” HIA NSW executive director Graham Wolfe said, according to today’s The Australian Financial Review.
But mortgage industry members have been quick to dismiss the suggestion.
“You’re not going to get lenders relaxing their criteria based on energy efficiency,” Aussie Home Loans’ John Symond said.
“Lenders’ business is to lend money, to be paid interest and secure it to ensure funds are paid back. Whether you’re an energy efficient home or otherwise really is not the business of lenders.”
