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Ecology Building Society adds to green mortgage range


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 exacting Passivhaus EnerPHit standard, an enhanced discount of 1.25% is applicable on completion of the works. ....

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Ecology Building Society revamps climate change mortgage


Ecology Building Society revamps climate change mortgage
By
Roger Baird
12
th February 2021
9:00 am
The Ecology Building Society has revamped its green mortgages for renovations and whole house retrofit, as its contribution towards the UK’s climate change targets.
The West Yorkshire-based lender has introduced a new variable rate renovation product, which starts at an initial rate of 3.65 per cent while building work is underway.
But once the renovation is complete, borrowers are eligible for a discount of 0.25 per cent for every energy rating step improvement, based on the Energy Performance Certificate of the property, up to a maximum discount of 1.50 per cent. ....

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