Archives: Faq

Holds our products and product specific data

How to enquire

If you are interested in becoming an Ecology borrower we would love to hear from you. Complete the enquiry form below or call us on 01535 650 770

    Conversion mortgage enquiry

    First name* Surname* Email address* Phone number*
    What do you want to do? How much would you like to borrow? How will you finance it?

    We’ll only use your details to respond to your query and for legal/regulatory obligations. Your information will not be used for marketing purposes, unless you have requested this.

    How to enquire

    If you are interested in becoming an Ecology borrower we would love to hear from you. Complete the enquiry form below or call us on 01535 650 770

      Renovation mortgage enquiry

      First name* Surname* Email address* Phone number*
      What do you want to do? How much would you like to borrow? How will you finance it?

      We’ll only use your details to respond to your query and for legal/regulatory obligations. Your information will not be used for marketing purposes, unless you have requested this.

      Operating an account: deposits

      The minimum deposit is £250

      You can save monthly by Direct Debit or standing order

      Deposits can be made by the Scheme Administrator by cheque through the post or transfer via the banking system

      Operating an account: withdrawals

      Funds will only be repaid to the Scheme Administrator either by cheque or Faster Payment (up to a maximum of £100,000).

      Amounts over £100,000 will need to be sent by CHAPS for which a charge will be applied. Please refer to our Current savings rates and charges leaflet

      If a withdrawal would take the account balance below the required amount to keep the account open (£250), the account will have to be closed

       

      Identification requirements

      Verifying identities helps protect us all from fraud
      • We carry out identification requirements to protect everyone from fraud
      • Where possible, we will first use electronic searches to confirm your identity

      All banks, building societies and financial institutions are required by law to verify the identity of any individual or organisation that opens an account with them. This is necessary to protect the organisation, its members and the public from fraud and also to help combat money laundering.

      You should note that there may be occasions when documentation over and above that stated here will need to be produced and you will be told if this applies to you.

      What we need to verify an individual's identity

      Existing member - quote your account number on your application:
      If you already have an account with us and quote your account number on your application, we may not need any further evidence of your identity and address.


      New to Ecology:
      If you're new to Ecology, we'll verify your identity via electronic searches.


      What we'll need if we request more information:
      If we need more information, we'll ask you to provide us with two additional forms of identification, one from each of the tables (see below).

      Table A

      • HM Revenue & Customs tax notification
      • Letter issued by the benefits agency
      • Passport (certified copy)
      • UK driving licence (certified copy)

      +

      Table B

      • Bank current account statement
      • Building society or bank investment account statement
      • Council tax bill
      • Gas bill
      • Electricity bill
      • Water bill
      • Telephone bill (not mobile telephone)
      • Mortgage statement
      • Credit or store card statement

       

      Joint account? You must each have your identity verified. However, both of you may rely on the same items from Table A and Table B if they are addressed to and clearly identify each of you.

      Please note:
      • Online statements or downloaded documents cannot be accepted under any circumstances
      • Any documents produced must be current and issued within the last 12 months
      • The identification provided must be from different organisations
      • All original documents will be returned to you when the account has been opened
      • Copy documents are not acceptable, except in the case of passports and driving licences, which must be certified (see below)

      Copies of passports and driving licences must be certified by one of the following:

      • Accountant
      • Bank or building society official
      • Doctor
      • Minister of religion
      • Regulated financial adviser or mortgage broker
      • Solicitor
      • Teacher

      Certification: The document that is being certified must state 'original seen' as well as being dated and signed. The document should also include the name of the certifier, their profession and full contact details. If the identification is photographic, the certifier must state that 'the photograph is a good likeness of the applicant'. The certifier must not be related to the applicant in any way, or named as a joint account holder.

      Open a Regular Savings account for a young person (16-17 years) or on behalf a child

      In a young person’s name (16-17 years old)

      An account can be opened by a young person aged 16 or 17 with a cheque or a payment from an account in their name.

      Alternatively, a parent or relative can provide:

      • a cheque (drawn on their own personal current account);
      • a bank or building society cheque (supported by an investment account statement from the relevant bank or building society); or
      • a bank transfer from an account.

      A covering letter must also be provided confirming the money is being given to the young person and how they are related.

      We will need to verify the identity and address of the young person.  For details of how this is done, please read the Savings account identification requirements leaflet.

      On behalf of a child (as a trustee)

      An account can be opened by a parent or relative as a trustee for a child of any age if the parent or relative makes an initial deposit from an account held in their name. Applicants (the parents or relatives) must each have their identity verified in accordance with the information provided in the Savings account identification requirements leaflet specified for individual’s identification requirements. The application should be accompanied by a Birth/Adoption certificate (original only), NHS Medical Card or National Insurance notification letter.

      How to apply if you are under 18 years old

      Young person (16-17 years old)

      An account can be opened by a young person aged 16 or 17 with a cheque or bank transfer from an account in their name.  You must complete an application form and send it to us. See the section on 'How to apply' below.

      Alternatively, a parent/guardian can open an account on the behalf (and in the name) of a young person (16-17 years old) with either:

        • a cheque (drawn on their own personal current account);
        • a bank or building society cheque (supported by an investment account statement); or
        • a bank transfer.

      A covering letter that confirms the relation to the young person and declares that the money will indeed be used by the young person must also be provided during the application.  We will need to verify the identity and address of the young person. For details of how this is done, please read the Savings account identification requirements leaflet.

      Child (under 16 years old)

      An account can be opened by a parent/guardian or relative as a trustee for a child under the age of 16 if the parent/guardian or relative makes an initial deposit from an account held in their name.

      Applicants (the parents/guardians or relatives) must have their identity verified in accordance with the information provided in the Savings account identification requirements leaflet. Birth/Adoption certificate (original only), NHS Medical Card or National Insurance notification letter must also be provided during application.

      How to apply for an Regular Savings account

      Step 1.
      Please read all the documents on the right before applying

      Step 2.
      Tick the box to download the Regular Savings application and Direct Debit forms

      Step 3.
      Post your Regular Savings application and Direct Debit forms to us - please note, scanned copies are not accepted

      Please note our identification requirements
      list in case we request more information 

      Please read these documents and tick the box below to download the application form.

      Energy standard

      For new build projects eligible for the C-Change for Sustainable Homes discount RatingsVariable RateDiscount %Variable Mortgage Rate
      PassivhausPassivhaus7.39%1.50%5.89%
      PassivhausPHPP Modelled7.39%0.75%6.64%
      Energy Performance Certificate (EPC)A (SAP rating 110+) (++)7.39%1.25%6.14%
      Energy Performance Certificate (EPC)A (SAP rating 100-109) (+)7.39%1.00%6.39%
      Energy Performance Certificate (EPC)A (SAP rating 92-99)7.39%0.75%6.64%
      Energy Performance Certificate (EPC)B (SAP rating 88-91)7.39%0.50%6.89%
      Association for Environment Conscious Building (AECB)AECB CarbonLite Building Standard7.39%1.00%6.39%
      C-Change Retrofit (for whole house renovations)RatingsVariable RateDiscount %Variable Mortgage Rate
      Energy performance Certification for retrofit projects (EPC)EPC rating improvement7.390.25% for each improvement in EPC rating 7.04% - 5.89%
      C-Change Energy Improvement discountRatingsVariable RateDiscount %Variable Mortgage Rate
      For specific energy improvement worksEvidenced via invoices and our C-Change energy improvement checklist7.39%A 1.00% discount is applied on funds borrowed specifically for qualifying energy improvement works (see C-Change energy improvement checklist)6.39% on funds borrowed specifically for qualifying energy improvement works.

      7.14% for funds borrowed that are not related to qualifying energy improvement works to the property