Archives: Faq

• We’ll lend based on a full affordability assessment and at a maximum Loan to Value of 90% (repayment basis) and 75% (interest only).
• Applicants must be aged 18 years or over. The mortgage is only available to UK residents.
• A maximum mortgage term of 35 years is available (subject to eligibility).
• Mortgages are available on a repayment, interest only or part (repayment) and part (interest only) subject to eligibility.
• The property must have a minimum EPC rating of C or higher. If the property is a new build in development, please provide a copy of the predicted energy assessment.
• If the property was built in the last 10 years, the property must have an acceptable build warranty (subject to eligibility).
• The mortgage is available for non-standard construction types (for example, timber frame or clad) providing the property complies with the Society’s requirements.
• This product is available to all property located in the UK.
• Available for leasehold tenures (subject to criteria)
• The property must have an acceptable co-housing lease (subject to criteria)
• This product is not eligible for C-Change Discounts.
• Builder Gifted Deposits and Incentives are not accepted.
• This product is not eligible where the property is a discounted market sale home (DMSH).

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Co-housing is a form of community-led housing where residents live in private homes but share common facilities, such as kitchens, gardens, or meeting rooms. Co-housing communities are typically designed and managed by residents to encourage social interaction and mutual support.

We’ll lend money to help you buy and renovate the property.

We’ll release up to 80% or 90% of the purchase price or value of the property and subsequently, the money required for the renovation costs. As you continue with your renovation, staged payments of up to either 80% or 90% of your increased property value will be released – this will help you keep tabs on your budget and planning.

This type of mortgage may be suitable if you are able to make a cash deposit on your property and fund the early stages of the build. We normally recommend 15% to 20% of your total budget as a good starting point to begin your renovation.

Once your renovation is complete and the energy efficiency of your property is improved, you can lower your interest rate through our C-Change discounts.

• We’ll lend based on a full affordability assessment and at a maximum Loan to Value of 95%.
• Applicants must be aged 18 years or over. The mortgage is only available to UK residents.
• A maximum mortgage term of 35 years is available (subject to eligibility).
• Mortgages are available on a repayment basis only.
• The property must have a minimum EPC rating of C or higher. If the property is a new build in development, please provide a copy of the predicted energy assessment.
• If the property was built in the last 10 years, the property must have an acceptable build warranty (subject to eligibility).
• The mortgage is available for non-standard construction types (for example, timber frame or clad) providing the property complies with the Society’s requirements.
• This product is available to all property located in the UK.
• The discounted market sale agreement must include a Mortgagee in Possession Clause in England and Wales (or a Rural Housing Burden Agreement in Scotland), to allow the lender to resell the property in the event of repossession. This must be linked to locality or wage index (not profession).
• This product is not eligible for C-Change Discounts.
• Builder Gifted Deposits and Incentives are not accepted.

Let’s say a property’s full market value is £250,000, but it’s offered at a 30% discount. You’d pay £175,000, and we could lend you up to 95% (£166,250) of the discounted figure of £175,000. Your mortgage would be based on that discounted price.

Our Renovation Mortgage is designed for people who wish to transform existing buildings into more sustainable, energy-efficient spaces. Whether you’re restoring a rural cottage, retrofitting a Victorian terrace, or breathing new life into an old residential building, your project could qualify.

We consider a wide range of property types, including:

• Traditional homes – including stone cottages, brick terraces, and timber-framed houses in need of modernisation, and an upgrade to their energy efficiency
• Properties built with non-standard construction – unconventional builds that are often hard to finance elsewhere
• Derelict or ‘unmortgageable’ properties – we’ll consider projects others may not, provided there’s a clear plan for improvement and renovation.

To qualify, your renovation should aim to improve the property’s environmental performance. We’ll look for:

• Works you plan to do to improve the energy efficiency of your property
• Consideration of renewable energy systems e.g. solar panels, heat pumps
• An improvement of at least one grade on your property’s Energy Performance Certificate (EPC) rating.

Our mortgages are available in the UK (England, Scotland, Wales and Northern Ireland) and available for purchases or remortgages.