QBE LMI launches 5 per cent benefit for green home buyers

• Customers with green mortgages through NAB or Bank Australia could save at least 5 per cent on the cost of Lenders’ Mortgage Insurance (LMI)
• All LMI premiums will be directed into social and environmental impact investments through QBE’s Premiums4Good initiative.

QBE LMI has today launched a new 5 per cent rate reduction for LMI through its exclusive partners, designed to encourage and increase affordability of green home ownership.

This first-to-market benefit is available to LMI customers purchasing or refinancing new or existing homes, or seeking construction loans, with a green mortgage through National Australia Bank (NAB) or Bank Australia.

Green home loans must have an LVR above 80 per cent and meet the lenders requirements and QBE LMI’s minimum requirements of having at least a NatHERS 7-star rating or Green Building Council of Australia Green Star Homes certification.

Pat Priest, General Manager, LMI at QBE Australia Pacific, said the benefit is designed to support customers who are committed to green housing, or may be considering making the switch to green.

“We’re pleased to be working with our exclusive partners to encourage customers to buy or build a green home, or renovate their current home into a green home. We know that making properties sustainable is not only good for the environment, but also adds value to homes, so we’re proud to be enabling new and existing homeowners to look after both their present, and their future.”

In support of QBE’s commitment to sustainability, 100 per cent* of the LMI premiums collected that receive the benefit will be channelled into investments that have social or environmental benefits through QBE’s Premiums4Good initiative.

“We recognise the importance of addressing climate change and facilitating a resilient future for our business and our customers. By directing premiums into social and environmental impact investments, we can make a difference to the communities and environment we live and work in and help achieve our purpose of enabling a more resilient future,” said Ms. Priest.

NAB Executive Home Ownership, Andy Kerr, said the move is an important step in addressing cost of living pressures through energy efficiency at the same time as helping customers manage their personal climate impact.

“These days, people building or buying a new home are prioritising sustainable features and energy efficient designs. We also know that homes with these features help homeowners reduce their living costs which is absolutely critical right now,” Mr Kerr said.

“Through this initiative with QBE, we are making it easier for customers to reduce energy bills and home loan repayments with the choices they make on the type of home that they buy.

“Making buildings more sustainable is essential to addressing climate change. With Australian homes contributing more than 15 per cent** to Australia’s total emissions, this is a small but important move in the right direction.”

John Yardley, Deputy Chief Executive Officer, Bank Australia, said the initiative will help support customers to make their homes greener.

“To reach our ambitious target of hitting net zero emissions by 2035, we launched our Clean Energy Home Loan in 2020, and it’s been great to see interest in green homes continuing to grow.

“This product from QBE is another incentive for people buying or building a new home to get the benefits of going green.”

For more information:

Emily Connell
External Communications Specialist
QBE Australia
+61 422 907 484
Email: [email protected]

Calum Young
Associate Director, Communications
National Australia Bank Limited
+61 472 863 630
Email: [email protected]

Nathan Clarke
Practice Director
6 O’Clock Advisory
+61 400 442 414