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ASB Better Homes Top Up

Our new home loan top up could help to make your home drier, warmer, or more energy efficient, or help you to get a hybrid or electric vehicle.

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Set your home up for the future.

Want better insulation? Better glazing? Better heating? These are just some of the ways you could help to make your home drier, warmer, or more energy efficient.

How about a better vehicle? Use an ASB Better Homes Top Up to purchase a hybrid or electric vehicle, which could help to reduce your day-to-day fuel costs.

Set your home up for the future, with an ASB Better Homes Top Up.

ASB Better Homes Top Up

Top up your ASB Home Loan, up to $80,000, to make your home drier, warmer or more energy efficient or to purchase a hybrid or electric vehicle.

ASB Better Homes Top Up

Fixed for 3 years

Min 20% equity

ASB Bank Limited’s lending criteria, terms and exclusions apply. Top up fee of $99 may apply.  Rate, offer and fees may change. Refer to asb.co.nz for eligibility criteria and other fees and charges. At the end of the fixed rate period our Housing Variable Rate will apply. See asb.co.nz for details. An early repayment adjustment may apply if you break a fixed rate term.

What can you use the ASB Better Homes Top Up for?

Eligible Improvements and Purchases

An electric or hybrid car, or EV charger

Electric or hybrid vehicles purchased from a registered motor vehicle trader. Includes new or used battery electric vehicles (BEV's), plug-in hybrid electric vehicles (PHEV's) and hybrid vehicles.

Electric vehicle charging units, portable or wall-mounted.

Insulate your home

Underfloor, ceiling or wall insulation, professionally installed. 

Window glazing: double or triple glazed windows, or secondary glazing upgrades.

Heat and cool efficiently

Heat pump system, which is installed in your home.

Wood burner or wood pellet burner, which meets any specific local council regulations.

Reduce moisture

Extractor Fans: A bathroom extractor fan or kitchen rangehood sending air to outside, not inside or ceiling space.

Ground moisture barriers, professionally installed.

Ventilation systems - positive or balanced pressure systems.

Use hot water efficiently

Heat pump water heaters

Solar hot water systems

Wetbacks

Solar energy

Solar panels, batteries and inverters installed by a member of Sustainable Electricity Association of New Zealand (SEANZ).

Solar hot water systems

Want to know more about top up options, check out our home loan top up webpage.

Eligibility criteria

Are you eligible?

  • You are an existing ASB home loan customer.
  • You have minimum equity of 20% for owner-occupied properties and 40% for investment properties, after including the amount of your ASB Better Homes Top Up.
  • Only available for eligible improvements and purchases.
  • ASB’s lending criteria and terms apply.

How it works

  • If purchasing an electric or hybrid vehicle, we’ll need to see a purchase agreement, no more than 60 days old, from a registered motor vehicle trader.
  • If you’re installing solar panels, batteries and inverters, we’ll need to see a quote or invoice, no more than 60 days old, from a member of Sustainable Electricity Association of New Zealand (SEANZ).
  • If conducting other eligible improvements to your home, we’ll need to see a quote or invoice, no more than 60 days old, from a qualified professional installer who undertakes the installation as part of their day-to-day business.
  • You’ll need to obtain any consents required from your local council.
  • The maximum loan term is 30 years. The life expectancy of the purchases or improvements may be significantly shorter than the loan term that you elect to take, and you should consider if this is compatible with your financial goals.
  • It is possible to make an extra payment on a fixed interest rate loan, however, an early repayment adjustment (ERA) may apply.
  • A maximum amount of $80,000 per property owning entity (sole private person, joint private persons, trust or company).
  • If you receive a quote for an ASB Better Homes Top Up improvement or purchase that is more than $80,000, you can still apply, however the ASB Better Homes Top Up will only be available for up to $80,000. You can apply for an additional home loan top up to cover the remaining balance, however the ASB Better Homes Top Up rate will not apply.
  • If you repay all or part of an existing ASB Better Homes Top Up, you may be eligible to apply for additional ASB Better Homes Top Ups, as long as the outstanding total balance of existing and new loans does not exceed $80,000.

Exclusions

  • Not available for the restructure of existing ASB lending.
  • Not available for improvements or purchases made prior to 7 November 2022.
  • Not available on construction loans or business loans.
  • No additional discounts apply to the ASB Better Homes Top Up fixed rate.

Homefit online check

Complete the Homefit online check for tips on improving the health of your home. Developed by the New Zealand Green Building Council, this is a simple tool that produces a final report to help you prioritise the options for making your home warmer, drier, and more efficient.

Check out the online tool

Tips to better your home

Check out the GenLess website for more information about the changes you can make to your home, and what to look for in a hybrid or electric vehicle. You can also try these simple tips to make your home warmer, drier or more energy efficient.

  • Hold on to the heat in your home by insulating the room with good curtains and ensuring all doors and windows are shut when the sun goes down to keep the heat inside.

  • If possible, try to hang your washing outside on a washing line or on a movable rack in a sunny spot outside. Keep your dryer for rainy days or for if your socks and sheets need a final dry.

  • What may seem like the opposite of productive but in fact will help to avoid condensation and mould, is to open your doors and windows when you can in the morning.

Frequently asked questions

Can I apply the ASB Better Homes Top Up to restructure my existing ASB lending?

No, the ASB Better Homes Top Up is not available for the restructure of existing ASB lending.

I am building a new property, can I get the ASB Better Homes Top Up?

No, the ASB Better Homes Top Up is not available for construction loans. Once the construction of your residential property has been completed and your construction home loan has been fully advanced, then you may be eligible to apply for an ASB Better Homes Top Up.

What happens at the end of the 3 year fixed rate period?

At the end of the 3 year fixed rate period our Housing Variable (floating) Rate will apply. Alternatively, you can re-fix your ASB home loan rate online via ASB Home Central or through the ASB Mobile App. Read here for more information on home loan interest rates.

Am I able to apply for more than one ASB Better Homes Top Up?

You may apply for another ASB Better Homes Top Up as long as the total balance of existing and new Better Homes Top Up loans does not exceed $80,000.

I have multiple quotes which meet the eligibility criteria for the ASB Better Homes Top Up, but the total is more than $80,000, can I still apply?

The ASB Better Homes Top Up is available for up to $80,000. You may apply for an additional home loan top up to cover the remaining balance, however the ASB Better Homes Top Up rate will not apply.

Are there any other grants I could take advantage of?

i. You may be eligible for the government's Warmer Kiwi Homes grant offered for insulation and heating.

ii. Local governments may also have grants available. Contact your local council or visit
their website for further details.

iii. If you’re purchasing an electric or hybrid vehicle, you may be eligible for the government’s Waka Kotahi Clean Car Discount.

Remember to double check your invoices

When paying tradespeople always ensure you check the invoice properly and make sure the details line up. We are aware of a scam where scammers create mock invoices pretending to be official tradespeople, so by double checking your invoice you’ll avoid falling victim to invoice fraud.

Contact us about your home loan

Call us

We’re here weekdays 8:00am – 6:30pm or Saturday 8:30am-5:00pm to answer your ASB Better Homes Top Up questions.

0800 100 600

Apply online

Ready to take the next step?

Apply online.

Visit a branch

Visit us at one of our many branches across New Zealand.

Find a branch

Speak to a Home Ownership Manager

Our home buying experts cover much of the country.

Find one near you

The ASB Better Homes Top Up is only available to existing ASB Home Loan customers, for up to $80,000 and only for eligible improvements or purchases. This rate and offer is available for a limited time only and may change. At end of the fixed rate period our Housing Variable rate will apply. ASB does not accept responsibility for the quality of any ASB Better Homes Top Up eligible improvements  or purchases.

ASB's lending criteria, terms, conditions and fees apply. Interest rates and fees are subject to change.

Home loans and mortgagesASB Better Homes Top Up