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Hunter United Green Loan

Features

The Hunter United Green Loan is a variable rate home loan that has all the features of a regular home loan, except that to be eligible you will need to have installed insulation, non-electric hot water, a water tank, “AAA” rated water-efficient fittings or Solar PV panels.

This Green Loan is a variable rate loan, however you do have the option to split the loan into a part-fixed, part-variable rate loan.

While there is no 100 percent offset account, you do have the option to choose between weekly, fortnightly or monthly repayment cycles.

For borrowers with a small deposit, this Green Loan will lend you up to 95 percent of the property value, however all loans over 80 percent will have to pay Lenders’ Mortgage Insurance.

If you’re looking for ways to pay off your loan faster, the Hunter United Green Loan lets you make unlimited additional repayments.

While there is no formal loan package, the Hunter United Green Loan does offer rebate rewards on savings and transaction accounts.

Borrowers looking for extra peace of mind can take repayment insurance which can cover any loan repayments if you’re unable to work.

This loan has no interest-only option, which means you will have to pay both the principal and interest. There is, however, a redraw facility which can be handy if you need to access to any additional funds.

Who is the Hunter United Green Loan good for?

If you want to buy, build or renovate an environmentally-friendly home, then the Hunter United Green Loan is worth considering.

Owner-occupiers and first home buyers looking for an environmentally-focused loan with a handful of flexible features might find what they’re looking for in the Hunter United Green Loan. Investors might find the lack of interest-only and 100 percent offset account options limiting. 

Review - What RateCity says

If you’re looking for a variable loan that lets you buy, build or renovate an environmentally friendly home, then the Hunter United Green Loan is worth considering. It has a moderate variable interest rate and relatively low ongoing fees which makes it an affordable ‘Green Loan’ option.

While there are lower variable rates on the market, this Green Loan does have some flexibility in its repayment options and redraw facility. The lack of 100 percent offset account can cost you thousands of dollars in extra interest over the life of the loan, so if you’ve got savings this is worth considering.

Hunter United only has a limited number of branches spread across the Hunter Region of NSW, so borrowers looking for face-to-face support might find this difficult.

As Hunter United is a credit union all profits are distributed its members which could potentially lead to future discounts and rate reductions.

Hunter United Green Loan Options

The Hunter United Green Loan is a variable rate home loan for borrowers who want to buy, build or renovate an environmentally-friendly home.

Product
Advertised rate
Comparison rate*
Monthly repayment
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Details

Variable Rates from

4.50%

Advertised rate

4.62%

Comparison rate
Pros
  • Redraw facility.
  • Additional repayments allowed.
  • Rebate rewards on savings and transaction accounts.
Cons
  • No 100 percent offset account.
  • Ongoing monthly fees.
  • Limited branch access.
Eligibility

Be a member of Hunter United.

Provide proof of income and employment.

Meet Green Loan criteria.

Suitable For
  • First Home Buyers
  • Investors
  • Owner-Occupiers
  • Refinancers
Fees
  • Estimated upfront fees: $350
  • Discharge fees: $80
  • Ongoing fees: $8 monthly

The Hunter United Green Loan has moderate upfront fees. There is a small discharge fee payable when the loan ends, as well as an ongoing monthly fee payable for the life of the loan.

Features
  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
About Hunter United

Hunter United Employees’ Credit Union began in 1963 as the BHP Employees’ Credit Union and over time has grown into a community-driven financial institution serving the Hunter Valley. As a credit union, Hunter United distributes its profits back to its members by way of discounts and rate reductions.

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