Residential mortgage discounts
C-Change mortgage discounts
Savers mortgage discount
Long-term mortgage discount
C-Change mortgage discounts
We are all increasingly aware of the issues associated with climate change and how our lifestyles contribute to the effects of global warming. Our homes account for over 25% of the UK's total carbon emissions, resulting from our domestic energy demands such as heating and lighting. If we can reduce the amount of energy our houses use we can have an immediate impact on CO2 emissions and climate change.
As a response we have developed the C-Change mortgage discounts described below - only one of which can apply to a mortgage.
C-Change energy improvements
This gives a 1% discount off our standard variable rate (SVR), on funds borrowed to install energy efficiency measures or renewable energy systems.
Examples of energy efficiency measures that qualify for the discount include:
- Installing floor, wall and roof insulation
- Double or triple glazing
- Installing low water-use appliances
- Installing a condensing boiler
Examples of renewable energy systems include:
- Solar water heating
- Photovoltaics
- Wind turbines
- Ground source heat pumps
- Biomass heating
We think a 1% discount off our SVR is a pretty good incentive!
C-Change sustainable homes
This tiered range of discounts are most applicable to new and existing energy efficient homes - the higher the energy rating, the greater the discount.
| Discount level | Discount % | Energy standard/rating |
|---|---|---|
| 1 | 0.5 | EPC - Energy efficiency rating or Environmental impact rating 'B' |
| CSH Level 3 | ||
| Eco Homes 'Very Good' | ||
| 2 | 0.75 | Energy efficiency rating or Environmental impact rating 'A' |
| CSH Level 4 | ||
| Eco Homes 'Excellent' | ||
| AECB Silver | ||
| 3 | 1 | CSH Level 5 |
| PassivHaus | ||
| 4 | 1.25 | CSH Level 6 |
| AECB Gold | ||
| EPC - Energy Performance Certificate CSH - Code for Sustainable Homes AECB - Association for Environment Conscious Building | ||
The relevant discount will be applied immediately to your mortgage upon confirmation of your home's certified energy rating - so you can take advantage of reduced payments from day one. Once applied, the discount will remain in place for the full mortgage term and apply to any further borrowing.
For full details view or download Our C-Change Discounts brochure (PDF*, 239K) or contact our Mortgage Department on 0845 674 5566.
Savers mortgage discount
We have also introduced a special Savers mortgage discount of 0.25% off our standard variable rate to reward those members who have supported the Ecology by saving with the Society. This is available to all savers who have maintained an average minimum account balance of £500 with the Society in the two years preceding their mortgage enquiry.
This discount will be guaranteed for the remainder of the mortgage term.
For full details view or download Our C-Change Discounts brochure (PDF*, 239K) or contact our Mortgage Department on 0845 674 5566.
Long-term mortgage discount
After a period of two years from the start of the mortgage, all residential standard variable rate borrowers will benefit from a reduction of 0.25% in the interest rate which applies to their mortgage at that time. To become eligible for this reduction they must have complied with all general and special mortgage conditions, have conducted their account satisfactorily and be in full residence of the property. This discount will be guaranteed for the remainder of the mortgage term.
This discount is applied to any borrowing that does not already benefit from the C-Change or Savers discount.