Ecology mortgage

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    Ecology mortgage

    Hi everyone

    Has anyone on here got experience of using the Ecology Building Society?

    My daughter is looking to buy a house in need of renovation to live in but has so far had no luck with mainstream lenders. It is habitable (has kitchen, bathroom etc) but needs some extra roof supports some damp treatment and a rewire.

    Ecology seem to lend on this and she would definitely be upping the EPC rating (a G at present)!

    Just wondered if any of you have experience of going with them?

    Many thanks

    #2
    As a broker I cannot say that I have had the need to discuss an enquiry where the property fell within their criteria, however a few years ago I attended a seminar where this lender made a pitch for being given serious consideration as a lender which to honest was a wake up call as their proposition has merits for specific types of property.
    Ecology are less aggressive in terms of competing on income affordability and having the lowest rates going, having said that their products are sensibly priced, targeted at those who have a minimum of 10% deposit and the Standard Variable is pretty fair.
    As a lender they do not attempt to gain market share and are happy with whatever level of business gets written. Clearly the fact that they will entertain distressed properties which have the potential of gaining benefits from energy efficiency is a key USP when compared to the criteria of main stream lenders. I don’t think you have any options besides dealing with what consider to be a vanilla lender but with a willingness to try and help.

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