We're inviting public feedback on the proposed Whare Ora Loans Scheme, allowing homeowners to apply for a loan, ranging from $2,500 to $15,000 with interest rates to cover costs. The loans will be available for home improvement projects such as insulation, double glazing, efficient heating, renewable energy systems and electrification.
This is effectively a re-establishment of a previous voluntary targeted rate scheme we ran from 2013-2021.
Although most of the policy settings have been informed by previous schemes, there have been several changes to ensure its longevity.
- It meets a legal exemption to the Credit Contract Consumer Finance Act (CCCFA)
- Reducing the scope to the most impactful home improvements
- Simplified offering and eligibility to reduce administrative costs
We encourage your feedback on both the Draft Whare Ora Loans Scheme and the Draft Amendments to the Rate Remission and Postponement policies.
