Ecology Building Society really is unique in the UK mortgage market. Running under the slogan ‘enlightened lending’, this lender specialises in new build mortgages on properties that are respectful for the environment.
If Ecology can see a positive environmental benefit to your mortgage, they may well support you. This means that anyone considering an eco new-build, a renovation or conversion of a derelict property, a timber-framed house or traditional constructions should consider Ecology the first port of call.
Ecology also lends money on organic smallholdings and farms, woodlands, eco development projects and housing co-operatives. Ecology considers mortgage applications from up to four individuals, lending up to 3 times joint income. Ecology will lend up to 90 per cent of purchase price or property value. Ecology offer simple mortgage loans on a traditional repayment basis, with potential for interest-only and part and part mortgages.
Ecology also offers a package called C-Change. This is the first mortgage in the UK to encourage carbon saving measures. Borrowers receive 1 per cent off SVR on mortgage funds used to kit houses out with energy saving solutions. The marketing manager for Ecology, Jenny Irwin, reportedly commented: “Ecology has been providing green mortgages for over 25 years, proving there is a market for these products. However, now that climate change is proving to be a very real threat, there is even more interest.”
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