"By implementing such initiatives, Westpac customers would be eligible for around $1,200 in discounts, according to Westpac director Carolyn Hewson. As a by-product, "they would also be reducing their energy and water bills by up to $1,800." "We didn't want to create a standalone green product, rather we want to ensure that each and every mortgage offered by Westpac from now on gives our customers the opportunity to be green," she said. Hewson said that market research shows that Australians are increasingly concerned with finding ways to reduce their water and energy consumption, and that households would welcome financial incentives that encouraged them to do so. "We shouldn't underestimate the role of households in the fight against climate change and other environmental issues. For example, if all Australians switched to clean, renewable energy today, Australia's total greenhouse pollution would be cut by 30%, according to the World Wildlife Fund," said Hewson.

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan