Moorings

Key Features

  • We provide a straightforward, individual mortgage service for the purchase of land with planning consent for mooring a houseboat

  • A variable rate currently 6.50% is applicable

  • We’ll consider lending up to four times joint or sole income subject to loan to value and an affordability assessment

  • You can borrow up to 70% of the moorings purchase price or current value (whichever is the lower)

  • An early repayment charge may be payable if you repay all or part of your mortgage within the first two years

  • Mortgages are available on a repayment basis

  • A non-refundable mortgage application fee of £300 is payable in addition to a mortgage valuation fee

  • Our minimum loan amount is £7,000 and our maximum mortgage term is 25 years (subject to eligibility)

  • Our mortgages for moorings are not regulated by the Financial Conduct Authority.

Our approach to lending
  • We’ll lend up to 70% of the purchase price or current value of the mooring (whichever is the lower) on a repayment mortgage
  • You must already own or be in the process of purchasing a houseboat (the mortgage is only available for the land, not the houseboat).
Our standard of service

Where a mortgage is not regulated by the Financial Conduct Authority (FCA) (as shown on the 'Key features' tab), you will be provided with full information about the mortgage products available from the Society so that you can make an informed decision as to which is suitable for your requirements.

Our mortgages are available across England, Scotland, Wales and Northern Ireland.

Further reading
YOUR LAND MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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Ecology Building Society was rated as an ethical Best Buy for our mortgages and savings accounts by Ethical Consumer magazine in its product guide rankings (July/August 2016 issue).

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Our fees

Valuation fees

Value of property not exceedingFee
£100,000£180
£150,000£210
£200,000£240
£250,000£270
£300,000£300
Up to each £50,000 thereafter add£30

Please note these fees apply to residential and buy-to-let applications.

In all other instances, the fee required will be determined on a case-by-case basis.

A more detailed inspection, such as a Homebuyers Report can often be provided by the same valuer at a fee to be negotiated. Please advise on this point when submitting your application. Depending on the nature of the property, the fee required may on occasion differ from this scale. Valuation fees include VAT.

Application Fee

A non-refundable mortgage application fee of £300 is payable in addition to a mortgage valuation fee.

Early repayment charge

An early repayment charge may be payable if you repay all or part of your mortgage within the first two years.

Our service, fees, tariffs and charges

The Society reserves the right to amend existing services and charges, or to introduce new ones.

Any change to charges will only reflect the increased operational costs of providing the service. You will always be notified before any changes are implemented.

For further details and tariff information please see Our rates and charges leaflet.

Mooring FAQs

Do you lend on moorings with a licence?

No we only lend on freehold or long term leasehold moorings with planning permission rights to moor a houseboat.

Do you lend for both the purchase of the mooring land and houseboat?

We only provide mortgage finance for the purchase of the mooring land.

How to apply

If you're interested in joining Ecology as a borrower, we'd love to hear from you.

Because we take an individual approach to every mortgage, we like to discuss your application with you over the phone to make sure it fits our criteria and to answer any questions you have.

You can contact us on 01535 650 770, or you can email us via our enquiry form. If your enquiry is urgent, please contact us by phone.

When you get in touch with us, it's helpful if you can provide us with some basic information about your project:

  • what you want to do (especially the environmental aspects of your project)
  • how much you'll need to borrow
  • how you intend to finance it.

For residential mortgage enquiries, please contact one of our mortgage advisors to discuss your project and your mortgage requirements.
You can find out more about the process by downloading The application process: a step-by-step guide.