Do you lend on holiday let accommodation?
No we do not provide our buy-to-let mortgage for holiday let or second homes, any letting must be conducted on a 6 or 12 month shorthold assured tenancy agreement.
Is there a maximum number of buy-to-let properties I can own?
We will not lend to an individual who has a portfolio of more than 4 buy-to-let properties.
Is there a limit on the number of units I can have in a single property?
The property must not have any more than 3 self-contained units.
Can the property be let to a family member?
No the property cannot be let to a family member.
Residential mortgage valuation fees
| Value of property not exceeding | Fee |
| £100,000 | £180 |
| £150,000 | £210 |
| £200,000 | £240 |
| £250,000 | £270 |
| £300,000 | £300 |
| Up to each £50,000 thereafter add | £30 |
Please note these fees apply to residential and buy-to-let 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. Valuation fees include VAT.
Application Fee
A non-refundable mortgage application fee of £350 is payable in addition to a mortgage valuation fee.
Early repayment charge
An early repayment charge may be payable if you repay all or part of your mortgage within the first two years.
Our service, fees, tariffs and charges
The Society reserves the right to amend existing services and charges, or to introduce new ones.
Any change to charges will only reflect the increased operational costs of providing the service. You will always be notified before any changes are implemented.
For further details and tariff information please see Our rates and charges leaflet.
For us to apply the C-Change sustainable homes, C-Change retrofit or C-Change energy improvement discount, once your work is complete you need to provide an Energy Standard certificate and, if applicable an Architect or Building Control certificate.
The discount is only applied to our Variable Rate from the date we receive evidence that the work has been completed and the Energy Standard rating required has been achieved.
How we work out your buy-to-let Variable Mortgage Rate:
Buy-to-let Variable Rate (VR) minus C-Change discount = Variable Mortgage Rate
Our mutual model means that we can be completely focussed on our mission rather than generating profits for shareholders, and it means our members have a say in how we’re run.
We support local economies and communities by enabling the construction of affordable homes, including shared ownership and community-led housing projects, which offer a low impact approach to sustainable living, particularly in rural areas.
Making affordable homes more energy efficient helps tackle fuel poverty, as well as the carbon emissions produced by our housing stock.
We only use our members’ savings to support our mortgage lending on properties and projects that respect the environment.
Ethical saving is also about treating all of our saving members fairly, regardless of the size of your investment or how long you’ve saved with us. It’s about making sure that we operate our business in a way that matches our values.
Our mortgages support and promote building practices that respect the environment and sustainable, low impact communities. They are funded by our savers – not by the wholesale money markets – and they aim to incentivise lower carbon lifestyles through our series of mortgage discounts.
Interest will be credited to your account on 31 December each year
An annual statement will be sent to you in January
For details of our interest rates please read Current savings rates and charges
If requested, interest can be paid direct into your bank account in January each year (minimum £25) or to another account with the Society
We may vary the interest rate on your account from time to time – please see Saving with Ecology – general terms and conditions for more details
