Archives: Faq

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.

How do I register a Power of Attorney (POA) or deputy with Ecology?

• Fill in our registration form and return it to us together with the original POA document or a certified copy. We will also need proof of the attorneys address if they aren’t an Ecology member themselves.
• We will set the attorney up including online access and return the documents.
• We will send confirmation of the registration by post.

What documents do I need to provide?

You will need to send us the Power of Attorney document or a certified copy of the document. You will also need to send us proof of identification.

What identification will I need to provide?

You will need to supply us with two pieces of identification. The easiest way to prove identification is by allowing us to run an electronic identity search. You can give us permission using the consent to electronic search form.

Alternatively you can send two forms of identification. The documents that we accept are listed in the proving your identity form.

What happens once I have registered as a POA or Deputy?

We will write to you and let you know that you can now access the accounts and give you details of how to do this.

How do I register to view the savings account online?

You can register to view the savings account online here Online registration page. Please note you will register in your name to view the donors account.

Can I operate the account online as POA?

Powers of Attorney can view savings account(s) online but they cannot make any withdrawals. This must be done by post or telephone.

What’s the difference between a Lasting Power of Attorney, Enduring Power of Attorney, a Deputy?

Lasting Power of Attorney (LPA): a legal document that lets you appoint one or more people to help you make decisions or make decisions on your behalf. There are two types of LPA:

• health and welfare
• property and financial affairs

You must have mental capacity when you make your LPA.

Enduring Power of Attorney (EPA): EPAs have been replaced by LPAs but can still be used if you have one. An EPA is a legal document that lets you appoint one or more people to help you make decisions or make decisions on your behalf. EPAs only cover property and financial matters.

Deputies: A deputy is appointed by the Court of Protection if an individual does not have mental capacity (cannot make decisions for themselves). There are two types of deputyship:

• Personal welfare, where you make decisions about their medical treatment and care
• Property and financial affairs where you can make decisions about their money and property.

If you’re appointed as a deputy the court order will say what you can and can’t do.

• We’ll lend based on a full affordability assessment and at a maximum Loan To Value of 80%.
• Applicants must be aged 18 years or over. The mortgage is only available to UK residents.
• A maximum mortgage term of 30 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 85 or higher to be eligible for this product. If the property is a new build in development, please provide a copy of the predicted energy assessment.
• If the property is 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 only available for houses, not flats.
• This product is available to all property located in the UK.
• This product is not eligible for C-Change Discounts.
• Builder Gifted Deposits and Incentives are not accepted.
• The Eco Reward Mortgage is only available for existing Ecology Members who qualify for the product under our eligibility criteria.