ASB Bank Better Home Top Up

[Platinum Mortgages Broker]

Great to see ASB Bank coming up with incentives for people to make upgrades, that are better for the environment or better for their health!

Under the ASB Better Homes Top Up scheme, you could be eligible to borrow up to $80,000 at 1.00% p.a fixed for 3 years to make improvements related to:

- Insulating your home
- Heat and cool efficiently
- Reduce moisture
- Use hot water efficiently
- Solar energy

As with all offers, it's subject to terms and conditions and is restricted to a maximum LVR of 80% for owner-occupied properties or 60% for non-owner occupied properties. Offer subject to expire at any time.

[PC]

https://www.asb.co.nz/home-loans-mor...es-top-up.html

New Tesla on the tenants? Nice!

[donna]

^^ wow I thought you were joking - but no it’s a stretch to talk about healthy homes loan and a new car - but ASB have done it. Get an electric or hybrid at 1 % interest- what’s the catch?

cheers

Donna

[Engineer]

^^ wow I thought you were joking - but no it’s a stretch to talk about healthy homes loan and a new car - but ASB have done it. Get an electric or hybrid at 1 % interest- what’s the catch?

cheers

Donna

Its electric and has no soul.

[Platinum Mortgages Broker]

Electric vehicle charging units also included for the top up (portable or wall-mounted) - Only eligible if you have minimum equity of 20% for owner-occupied properties and 40% for investment properties.

Further details can be found below:

https://www.asb.co.nz/home-loans-mor...p&gclsrc=aw.ds

[donna]

Hi Platinum,

So this is an additional loan that's a mortgage? Or is it a car loan? Is your home used as security if it is indeed a mortgage? Is the equity in your home used for the 20%? How does it work if you use another bank and they are first lenders?

cheers,

Donna

[Platinum Mortgages Broker]

Hi Donna

This is a mortgage loan, which is added as an additional suffix under your existing home loan - So your existing security property is used to secure the lending.

Yes, you would utilize the existing equity that you have, in your current property.

This ASB Bank Better Home Top Up can only be utilized if your home loan is placed with ASB Bank / already in place with ASB Bank.

Thanks

Angela