Ecology off-site build mortgage
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We don’t have a ‘tick box’ approach to assessing
projects – in many instances, we’ll welcome projects that standard lenders may
not accept.
If you’re planning to build an energy-efficient off-site
construction property through one of our supported suppliers, we’re here to
help.
At Ecology, we’re not put off by the construction type;
we’ll support many types of construction techniques. If we can see your build
will be energy efficient using sustainable and locally sourced materials
through one of our suppliers, we’ll consider lending.
This mortgage is only available where you are purchasing
your build through one of our supported suppliers. Please see ‘Our suppliers’
section on
our website for further details.
Our mortgages are available throughout the UK (England,
Scotland, Wales and Northern Ireland).
How the mortgage works
We’ll lend money to help buy the land and pay for the build.
We offer two types of mortgages within our mortgage range. Details of interest rates and charges can be found in the ‘Our mortgages’ section of our website.
Off-site Build Mortgage – we’ll release up to 80% of the purchase price or value of the property and subsequently, the money required for the build. As you continue with your build, flexible staged payments of up to 80% of your increased build value will be released – this will help you keep tabs on your budget and planning.
Off-site Build Mortgage (Advanced Payments) – We’ll release up to 80% of the purchase price or value of the property and subsequently, up to 80% of the final value of the property to help you cover your build costs.
We recognise that some customers experience cashflow issues when suppliers require high, upfront payments to pay for their property being built in a factory off-site with the property later mobilised on your land. With our innovative advanced payment mortgage, when your build manufacturer requires payment for the kit deposit, manufacturing, construction and delivery, this mortgage will provide payments up to 80% of the cost value. This ensures you have adequate cashflow to cover the cost of your build.
This type of mortgage may be suitable if you have limited deposit remaining after you have purchased the land and covered some of the infrastructure costs to the land.
Key product details
Off-site build mortgage
- 6.04% variable interest rate
- 6.3% APR (overall cost for comparison)
- £995 application fee
- 80% maximum loan-to-value
- Energy efficiency is rewarded through our sustainable homes C-Change discounts from 0.50% to 1.50%
- Ability to overpay by up to 10% per annum over the first 2 years, any amount above 10% will incur an early repayment charge
- Borrow up to 80% of the property’s value on a repayment basis, or up to 65% interest-only (or part repayment and part interest-only
- All self-build projects must show they will achieve a minimum SAP rating of 88
Off-site build mortgage (advanced payment)
- 6.54% variable interest rate
- 6.8% APR (overall cost for comparison)
- £995 application fee
- 80% maximum loan-to-value
- Energy efficiency is rewarded through our sustainable homes C-Change discounts from 0.50% to 1.50%
- Ability to overpay by up to 10% per annum over the first 3 years, any amount above 10% will incur an early repayment charge
- Borrow up to 80% of the property’s value on a repayment basis, or up to 65% interest-only (or part repayment and part interest-only)
- All self-build projects must show they will achieve a minimum SAP rating of 88
Heat Pump Cashback
Thinking about undertaking an energy efficient significant
renovation project where you are upgrading the heating system to the property?
If you are planning to install an air or ground source heat
pump, then you could be eligible for a £500 or £1000 cashback with your new
mortgage at Ecology.
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