Our Mortgage Rates Are Increasing
From 1 May 2022, the interest rate for many of our mortgages is increasing by 0.50%.
Our standard variable rate (SVR) for self-build and conversions will be 4.65% and the renovation mortgage rate for renovations and retrofits will be 4.15%.
This change follows a review of interest rates that has become necessary following the series of changes to the base rate announced by the Bank of England since December 2021, as well as movements in mortgage% rates generally.
All of our sustainable lending is funded by savers deposits and we always need to balance the needs of saving and borrowing members to ensure that we are able to support even more properties and projects that are helping to build a greener future.
We’re writing to all borrowers affected by these changes to provide details of the revised monthly repayment effective from May.
For more information about Ecology mortgages please visit ecology.co.uk/mortgages email [email protected] or call us on 01535 650 770.
Published: 18 April 2022
Author: Jennifer Whiteside