Our unique new Community Living mortgage for co-housing residents

We’ve launched a new mortgage designed specifically for people looking to buy – or remortgage – homes which are part of a co-housing scheme.

Our Community Living mortgage has a discounted variable rate of 5.34% and is available up to 90% LTV (loan to value)

Co-housing developments are made up of self-contained residential homes for individuals, couples or families, with shared resources helping them to live more sustainably.

Developments usually contain common indoor areas to meet up, cook or eat together, as well as shared outside space, such as gardens and plots to grow fruit and veg.

As well as the environmental benefits of sharing resources in this way, energy-efficient constructions can help to bring down running costs and save on key bills.

Daniel Capstick, Ecology’s Senior Mortgages Product and Proposition Manager, said: “Co-housing can have many positive benefits for people and our planet and help communities to thrive, yet most lenders don’t provide mortgages to enable this type of living.

“Ecology’s new Community Lending mortgage product bridges this gap and complements the commercial lending we provide to help with the creation of such developments.

“The co-housing schemes we’ve supported already are leading the way in sustainable living with some having their own renewable power generation, car and bike pools and food growing, so providing this type of mortgage for residents was a natural next step.

“We’ve always been a purpose-driven lender and our recent mortgage range refresh is helping us to plug gaps in the market and support people in purchasing their first property or be part of a way of living that’s right for them.”

Key product features

• 5.34% variable rate available up to 90% LTV on capital and repayment basis, or up to 75% LTV interest only
• Maximum term 35 years
• Minimum C EPC rating
• For purchase or remortgage
• Non-standard methods of construction accepted (e.g. timber frame)
• Full Terms and Conditions apply to the above

Visit the Community Living mortgage product page to find out more.

Your home may be repossessed if you do not keep up repayments on your mortgage.