Green Upgrade Loan from ING
A more energy efficient future for your customers' home - now at a competitive 5 year fixed rate of 3.74% p.a. (comparison rate 5.16% p.a.)
We’re excited to let you know that our new ING Green Upgrade Loan and the Home Energy Helper platform are now available! Your customers’ path to a more energy-efficient home may begin here. Give them the tools to improve the energy efficiency of their home that not only aligns with their goals, but also contributes to a positive environmental impact. So, get your customers onboard for this.
Why this loan matters
In collaboration with BOOM! Power, ING Australia has launched a new one-stop shop solution to help make it easier for customers to improve the energy efficiency of their home. The Home Energy Helper and competitive Green Upgrade Loan launch following customer and broker feedback that the retrofitting process is complex, costly and time consuming.
The Green Upgrade Loan is supported by the Clean Energy Finance Corporation (CEFC), an Australian Government-owned green bank set up to help finance Australia’s clean energy transition to net zero emissions by 2050. The CEFC’s $1 billion Home Energy Upgrades Fund provides discounted finance to consumers through a range of co-financers to help increase housing sector sustainability.
Introducing the Green Upgrade Loan
Here are some key product features of the Green Upgrade Loan:
We’re excited to let you know that our new ING Green Upgrade Loan and the Home Energy Helper platform are now available! Your customers’ path to a more energy-efficient home may begin here. Give them the tools to improve the energy efficiency of their home that not only aligns with their goals, but also contributes to a positive environmental impact. So, get your customers onboard for this.
Why this loan matters
In collaboration with BOOM! Power, ING Australia has launched a new one-stop shop solution to help make it easier for customers to improve the energy efficiency of their home. The Home Energy Helper and competitive Green Upgrade Loan launch following customer and broker feedback that the retrofitting process is complex, costly and time consuming.
The Green Upgrade Loan is supported by the Clean Energy Finance Corporation (CEFC), an Australian Government-owned green bank set up to help finance Australia’s clean energy transition to net zero emissions by 2050. The CEFC’s $1 billion Home Energy Upgrades Fund provides discounted finance to consumers through a range of co-financers to help increase housing sector sustainability.
Introducing the Green Upgrade Loan
Here are some key product features of the Green Upgrade Loan:
- Competitive 5 year fixed rate of 3.74% p.a. (comparison rate 5.16% p.a.)^ with principal and interest repayments for owner occupiers or 3.74% p.a. (comparison rate 5.24% p.a.)^ for investors.
- No upfront fees – so more money stays in your customer’s pocket.
- Flexible loan amount – customers could borrow between $5,000 and $50,000.
- The Green Upgrade Loan is available to existing ING Orange Advantage, Mortgage Simplifier or Fixed Rate Loan customers with minimum existing borrowings of $150,000 or more, maximum house value of $2.5M and LVR less than 80%.
- Create a more energy-efficient home. Eligible energy efficient upgrades are as follows:
- Batteries
- Solar photovoltaic panels and inverter
- Solar photovoltaic panels and inverter
- Hot water heat pump*
- Air conditioner (non-ducted single-split)*
- Induction cooktop*
*Including the removal of gas connections and relevant gas appliances if required.
How Home Energy Helper can support your customers
Home Energy Helper provides a streamlined one-stop shop solution for customers looking to make their homes more energy efficient. Through our partnership with Boom! Power, broker customers can access:
How Home Energy Helper can support your customers
Home Energy Helper provides a streamlined one-stop shop solution for customers looking to make their homes more energy efficient. Through our partnership with Boom! Power, broker customers can access:
- Household energy efficiency and emissions data: using their property details customers can assess the potential impact of their renovation on their energy bills and household emissions.
- Simplified process: customers can view quotes from multiple suppliers, all in one place.
- Accredited installers: all suppliers on the platform are accredited, taking the hassle out of finding an eligible supplier.
- Available government rebates: customers can view the government rebates that are available for their upgrades.
Eligibility
Customers may be eligible to apply to increase their existing ING Home Loan (Mortgage Simplifier, Orange Advantage or Fixed Rate Loan) with the Green Upgrade Loan provided:
- their existing ING Home Loan meets the conditions below:
- it has a total balance of $150,000 or more at the time of application.
- the total loan-to-value ratio (LVR) of the existing ING Home Loan and the new Green Upgrade Loan is 80% or less once the Green Upgrade Loan is settled.
- it is for the purpose of funding the purchase and installation of one or more home energy upgrades on the security property for the existing ING Home Loan. Home energy upgrades are those arranged through the Home Energy Helper platform.
- The security property of the customer’s existing ING Home Loan is in NSW, VIC or the ACT and does not exceed $2,500,000 in value at the time of application
- Your customer holds an active ING Orange Everyday account in the same names as their ING home loan at the start of the Green Upgrade Loan application.
How to help your customers apply for the Green Upgrade Loan:
1. Get your customers to complete an online home energy assessment.
Use Home Energy Helper (ing.com.au/HEH) to get estimates of the costs and savings for eligible energy efficient home upgrades and connect with installers in their area. Your customer will need to take a screenshot of the estimated costs from their chosen installer.
2. Assess and apply
Assess your customer’s eligibility and kick start the Green Upgrade Loan application! You will need to provide the Loan Account Instruction Form and the screenshot of the estimated costs from Home Energy Helper as a supporting document in ApplyOnline. In the broker summary notes please advise the applicant’s Orange Everyday account number for disbursement of the funds at settlement.
3. Verification of estimate
Your customers chosen installer will visit their property to verify the estimate from Home Energy Helper is accurate and provide a quote to your customer. You must let your customer know that if there is any variance between the quote provided and the initial estimate from Home Energy Helper, ING must be advised. If this is to occur, the loan amount will need to be updated to reflect the change.
4. Get your customer to share the final invoice with us
Once your customer’s chosen installer from the Home Energy Helper platform has completed the installation, send in the final invoice to ING, that allows ING to proceed with finalising the loan approval. ING will deposit the loan funds into the customer’s Orange Everyday account upon settlement.
For now, the Home Energy Helper is available in Victoria, NSW and the ACT. It will be rolled out nationally in early 2025.
3. Verification of estimate
Your customers chosen installer will visit their property to verify the estimate from Home Energy Helper is accurate and provide a quote to your customer. You must let your customer know that if there is any variance between the quote provided and the initial estimate from Home Energy Helper, ING must be advised. If this is to occur, the loan amount will need to be updated to reflect the change.
4. Get your customer to share the final invoice with us
Once your customer’s chosen installer from the Home Energy Helper platform has completed the installation, send in the final invoice to ING, that allows ING to proceed with finalising the loan approval. ING will deposit the loan funds into the customer’s Orange Everyday account upon settlement.
For now, the Home Energy Helper is available in Victoria, NSW and the ACT. It will be rolled out nationally in early 2025.
Smoother experience as they have all your information.
Better understanding of your financials to provide tailored advice. 
Faster response compared to being matched with a new broker.
