Interest rates and charges
Current interest rates
Residential mortgage discounts
Fees
Tariff of mortgage charges
Current interest rates
| Mortgage rates from 1 April 2008 | ||
|---|---|---|
| TYPE OF MORTGAGE | Interest rate pa | |
| Residential | Owner occupiers (Standard Variable Rate) The overall cost for comparison 6.5% APR | 6.45% |
| Buy-to-let | 6.70% | |
| Housing associations | 6.45% | |
| Charities | Negotiable up to 7.30% | |
| Housing co-operatives | 6.65% - 7.30% | |
| Part residential | Negotiable up to 7.30% | |
| Non-Residential | Charities | Negotiable up to 7.30% |
| Small woodlands | Negotiable up to 8.30% | |
| Commercial | Negotiable up to 8.30% | |
Interest rates are variable and correct at time of publication.
Residential mortgage discounts
| Type of discount | Interest rate reduction |
Applicable to | When applicable |
|---|---|---|---|
| C-Change for sustainable homes |
0.5 - 1.25% | The whole of the mortgage amount. The size of the discount will depend on the energy rating achieved - the higher the energy rating, the higher the discount | Completion, if energy rating confirmation is available, otherwise, as soon as energy rating confirmation received |
| C-Change energy improvements |
1% | Funds being used to install energy saving measures or renewable energy systems | Once works are complete |
| Savers | 0.25% | Savers who have been with the Ecology for 2 years and have maintained an average minimum account balance of £500 | Once works are complete |
| Long-term | 0.25% | All funds not qualifying for either the Savers or C-Change discounts | After the first 2 years |
All of the above discounts are subject to the prior satisfaction of any conditions applied to the mortgage.
Fees
Mortgage application fees
| Type of mortgage | Fee |
|---|---|
| Residential | £250 |
| Buy-to-let | £350 |
| Small woodlands | £250 |
Please contact the Mortgage Department for details of the fees charged for Commercial and Non-Residential Charity applications.
Residential valuation fees
| Value of property not exceeding | Fee |
|---|---|
| £50,000 | £120 |
| £100,000 | £150 |
| £150,000 | £180 |
| £200,000 | £210 |
| £250,000 | £240 |
| £300,000 | £270 |
| Up to each £50,000 thereafter add | £30 |
| The above fees include VAT at 17.5% | |
Please note that these fees only apply to residential, buy-to-let and housing co-operative applications.
In all other instances, the fee required will be determined on a case by case basis. A more detailed inspection, such as a Homebuyers' Report, can often be provided by the same valuer at a fee to be negotiated. Please advise on this point when submitting your application. Depending on the nature of the property, the fee required may on occasion differ from this scale.
Tariff of mortgage charges
Click here to view or download a copy of our Tariff of Mortgage Charges (PDF*, 38K).