Shared ownership mortgages
We specialise in mortgages for shared ownership (also known as part ownership mortgages or co ownership mortgages) and support affordable housing in the UK. If you are interested in a shared ownership mortgage and are purchasing a property which is energy efficient, see how we can help.
Key Features
- Our current Standard Variable Rate is 4.65%
Representative example:
A mortgage of £95,300 payable over 25 years on our Standard Variable Rate, currently 4.65%, would require 300 monthly payments of £537.85.
The total amount payable would be £161,895 made up of the loan amount plus interest (£66,055) and a mortgage application fee of £300 and a valuation fee of £240 (assuming a purchase price of £200,000)
The overall cost for comparison is 4.80% APRC representative - We’ll consider lending up to four times joint or sole income subject to loan to value and an affordability assessment
- Energy efficient homes are rewarded with discounts off our Standard Variable Rate - see details below of how our C-Change sustainable homes discounts work
- You can borrow up to 95% of the property’s value or purchase price (whichever is the lower) of the share being purchased
- An early repayment charge may be payable if you repay all or part of your mortgage within the first two years
- A non-refundable mortgage application fee of £300 is payable in addition to a mortgage valuation fee
- A maximum mortgage term of 30 years is available, subject to eligibility
- Mortgages are available on a repayment basis only.
What we lend on
We are experts in providing mortgages for shared ownership properties which are energy efficient. We consider properties or flats for our shared ownership mortgage - where the flats are in a building which has no more than 4 storeys.
Our mortgages are available in the UK (England, Scotland, Wales and Northern Ireland).
Our standard of service
The Financial Conduct Authority (FCA) has laid down detailed rules about the service we must offer on regulated residential mortgages. Under these rules, we will provide you with advice and recommendation on which of the Society's products is most suitable for you, based on your needs, preferences and affordability.
Further reading
- Customer project
Jenny’s story: A simple and light urban Passivhaus
Project type: Self-build
In her mind’s eye, Jenny wanted a self-built home that was simple and beautiful, plain but not austere, with high ceilings and flooded with light from every direction. She also wanted to create a low-energy and low-tech build, constructed from sustainable, locally sourced materials. With the support of an Ecology mortgage, Jenny achieved this ...
ReadSee all projects - Customer project
Rob and Karin’s story: The first certified Passivhaus Plus in the UK
Project type: Self-build
Rob and Karin set out to build a comfortable family home that would improve their quality of life as well as reduce their carbon footprint. They chose the Passivhaus Plus standard for their build, which combines the Passivhaus approach to minimising energy requirements with on-site renewable energy generation. This means that the building ...
ReadSee all projects - Customer project
Irene and David’s story: Converting to Passivhaus
Project type: Conversion
After living happily in a Victorian house on the outskirts of Ripon, North Yorkshire, for 20 years, Irene and David were ready for a change. They wanted a home that was less costly to heat and maintain, in a location that would reduce their reliance on car travel. This is exactly what they achieved. Their new house is an energy-efficient converted ...
ReadSee all projects
Ecology Building Society was rated as an ethical Best Buy for our mortgages, ISAs and savings accounts by Ethical Consumer magazine in its product guide rankings (May/June 2018 issue).
As a building society with a unique mission to build a greener society, we lend on projects and properties that support our aims through their reduced impact on our environment. Making your home energy efficient is a major way you can support tackling climate change – while saving on your energy bills.
We reward borrowers whose properties are energy efficient (therefore have lower carbon emissions) with our C-Change discounts off our Standard Variable Rate which helps them save money on their mortgage. We call our discounts ‘C-Change discounts’ simply because we’re aiming to make a ‘sea-change’ of difference to our climate with each property or project we fund.
The level of our C-Change sustainable homes or C-Change retrofit discount that applies is based on the Energy Standard rating achieved on the self-build, renovation or conversion when the work is completed. Our C-Change energy improvements discount is based on the qualifying energy measures being installed. The discount is applied from the date we receive evidence that the work has been completed and if applicable the Energy Standard rating required has been achieved.
Normally you will be purchasing a property that is already fully completed and to qualify for our mortgage the property must be classified as an energy efficient property. You will need to provide us with evidence that the property achieves one of the Energy Standards ratings in the table below.
How we work out your Variable Mortgage Rate:
Standard Variable Rate (SVR) minus C-Change discount = Variable Mortgage Rate
| Energy Standard | Ratings | SVR (Standard Variable Rate) | Discount % | Variable Mortgage Rate |
|---|---|---|---|---|
| Passivhaus | Passivhaus | 4.65% | 1.25% | 3.40%. The overall cost for comparison is 4.80% APRC representative. |
| Energy Performance Certificate (EPC) | A | 4.65% | 0.75% | 3.90%. The overall cost for comparison is 4.80% APRC representative. |
| Energy Performance Certificate (EPC) | B | 4.65% | 0.50% | 4.15%. The overall cost for comparison is 4.80% APRC representative |
Residential mortgage valuation fees
| Value of property not exceeding | Fee |
|---|---|
| £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 valuation fees apply to residential and buy-to-let applications and include VAT.
In all other instances, the fee required will be determined on a case-by-case basis and depends on the nature of the property.
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.
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 services, 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.