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A COUPLE who own a holiday home are celebrating after receiving recognition in an awards scheme.

Enhanced discounts set to be offered by lender to homes built to high energy efficiency standards

Ecology Building Society has boosted discounts on green mortgages for self- and custom-build homes by up to 1.50%. The mutual’s self-build mortgage starts with an initial rate of 4.65% (which lifts to 4.99% from 1 August). On completion of the works, borrowers are eligible for its C-Change Sustainable Homes product

The Ecology Building Society has lifted the entry criteria for its range of green mortgages for self and custom-build homes to "accelerate the construction of energy-efficient homes to help meet the UK’s net-zero ambitions". The lender increases the minimum energy rating level, or Standard Assessment Procedure

The product has an initial rate of 3.65% while renovation works are underway. On completion of the works borrowers will be eligible for a discount of 0.25% for each energy rating step improvement based on the EPC of the property, up to maximum discount of 1.50%. According to the lender, the new offering is designed to encourage borrowers to upgrade their homes to a better energy efficiency rating. Applicants can borrow up to 90% of the property’s value on a repayment basis, however up to 75% on interest-only or part-repayment and part- interest only. In addition, for homes renovated to the ...