The C-Change energy improvement scheme offers a discount of 1% on funds borrowed for qualifying energy measure installations (listed in the table below) and is applied once work is completed and evidenced by invoices. Please note the discount is applied to funds borrowed for energy improvement measures only and our Standard Variable Mortgage Rate will apply to the rest of the mortgage.
For example, if you borrow £150,000 and £50,000 is used for energy improvements, once all work is completed and evidenced, we would apply a 1% discount from our Standard Variable Rate to the £50,000 used for energy improvements and our Standard Variable Rate would apply to the rest of the mortgage.
| Energy improvement measures which can benefit from the discount | SVR (Standard Variable Rate) | Discount % applied to funds used for energy improvements | Variable Mortgage Rate |
Floor, wall and roof insulation
Double or triple glazing
Wet underfloor heating systems
High efficiency condensing boilers
Solar water heating
Photovoltaics
Wind turbines
Ground source heat pumps
Biomass heating
Heat recovery systems
Low water-use appliances
Rain water harvesting
| 4.15% | 1.00% applied on funds borrowed for qualifying energy improvement works (see C-Change energy improvement checklist) | 3.15% The overall cost for comparison is 4.30% APRC
(Our 4.15% Standard Variable Mortgage Rate will apply to the rest of the mortgage)
|
The C-Change retrofit scheme offers a discount of 0.25% from our Variable Rate (VR) for each rating improvement in your home’s Energy Performance Certificate (EPC). This could be either its Energy Efficiency or Environmental Impact rating – whichever is the highest.
For example, if either EPC rating improves from E to C after the works to the property are completed, a discount of 0.50% will be available on the whole of the mortgage, for the duration of the loan. The discounts are deducted from our Variable Rate (currently 6.29% – the overall cost for comparison is 6.50% APRC).
To apply the discount, we need to receive an EPC before you undertake works to your home and another EPC once works are completed. We will compare the revised EPC with the original rating, and apply the discount based on the grade improvement achieved. Until we have received your revised EPC, we will charge interest at our Variable Rate. You can find out more by downloading Our C-Change discount brochure.
| Energy Standard | Energy Efficiency or Environmental Impact Rating | VR (Variable Rate) | Discount % | Variable Mortgage Rate |
| Energy Performance Certificate (EPC) | EPC rating improvement | 6.29% | 0.25% for each grade improvement in the EPC rating | 6.04%-4.79%. The overall cost for comparison is 6.3% APRC |
| Passivhaus | EnerPHit or EnerPHit+1 | 6.29% | 1.25% | 5.04%. The overall cost for comparison is 5.2% APRC |
| Passivhaus | EnerPHit (PHPP Modelled) | 6.29% | 0.75% | 5.54%. The overall cost for comparison is 5.8% APRC |
| Association for Environment Conscious Building (AECB) | AECB CarbonLite Building Standard | 6.29% | 0.75% | 5.54%. The overall cost for comparison is 5.8% APRC |
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.
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
Withdrawals must be for a specified amount unless the account is to be closed
The minimum withdrawal amount is £5
If a withdrawal would take the account balance below the required amount to keep the account open (£25), the account will have to be closed
Withdrawals can be requested by using a Withdrawal notification form or by sending us a letter signed by whoever is authorised to operate the account
Withdrawals can also be requested online via our Interactive facility (restrictions apply)
The minimum deposit is £5
You can save monthly by Direct Debit or standing order (the minimum amount payable by Direct Debit is £10)
Deposits can be made by cheque through the post or by transfer via the banking system
