This is an illustration of a typical mortgage and its total cost. It looks at a mortgage of £225,000, paid over 25 years on a discounted variable rate of 4.19%. This mortgage would need one monthly payment of £1,164.77 and 299 monthly payments of £1,213.66 to pay off. The total amount paid would be £364,049.11. This includes the loan amount (£225,000), interest (£138,220.11), a mortgage application fee (£499) and a valuation fee (£330). This illustration assumes the cost of the property is £350,000.
The overall cost for comparison is 4.3% APRC representative.
APRC (Overall Percentage Rate of Change) shows you, as a percentage, the annual cost of a secured loan or mortgage. It brings together all charges (such as fees and other costs), calculated as if you kept your secured loan or mortgage for the full term without changing it.
Eligibility
We’ll lend based on a full affordability assessment and at a maximum Loan To Value of 80%.
Applicants must be aged 18 years or over. The mortgage is only available to UK residents.
A maximum mortgage term of 30 years is available (subject to eligibility).
Mortgages are available on a repayment, interest only or part (repayment) and part (interest only) subject to eligibility.
The property must have a minimum EPC rating of 85 or higher to be eligible for this product. If the property is a new build in development, please provide a copy of the predicted energy assessment.
If the property is built in the last 10 years, the property must have an acceptable build warranty (subject to eligibility).
The mortgage is available for non-standard construction types (for example, timber frame or clad) providing the property complies with the Society’s requirements.
This product is only available for houses, not flats.
This product is available to all property located in the UK.
This product is not eligible for C-Change Discounts.
Builder Gifted Deposits and Incentives are not accepted.
Fees and charges
An early repayment charge is payable in the first two years. If you repay in part or in full, you’ll be charged 2% of what you still owe in year one and 1% in year two.
A minimum interest rate of 3% applies to the product. This means the interest rate for this product will never fall below 3%.
A mortgage application fee (£499) and a valuation fee (£330) will apply.
Work out how much you could borrow and compare monthly payments.
Mortgage Calculator – Summary
Your details
Amount you’d like to borrow
Term
Monthly income
Monthly living costs
Energy efficiency
Current rating
Target rating
Expected rating
Your results
Initial monthly repayments
Monthly repayments with C-Change discount*
Maximum you could borrow
* Calculated on the assumption that an average project is completed after 12 months.
NB: All figures provided are for illustrative purposes only. This is not a formal quotation or a commitment to lend.
Eco Home Mortgage FAQs
To speak to our friendly mortgage advisors, you’ll need to provide your financial details to obtain a decision in principle. When you’re ready to fully apply, you’ll need to have a specific property in mind. When you’re ready to apply for the mortgage, we’ll ask you for:
Income & expenditure documents
Availability of your deposit
A copy of the energy performance certificate for the property
A copy of the build warranty or building certificate
The property much have a minimum EPC rating of 85 or higher to be eligible for this product. If the property is a new build and not yet fully completed, please provide a copy of the predicted energy assessment.
n EPC (Energy Performance Certificate) rating is a measurement of the energy efficiency of a building. It is typically required when selling or renting a property in many countries, including the UK. The rating is based on factors such as insulation, heating systems, and the overall energy use of the property.
The rating scale typically ranges from A (very efficient) to G (inefficient), with A being the best and G being the worst. A higher EPC rating indicates that the property is more energy-efficient, which can mean lower energy bills and a smaller environmental impact.
If the property is built in the last 10 years, the property must have an acceptable build warranty or a Professional Consultant’s Certificate, for any property constructed after the first 10 years period this is not required.
You will need a minimum deposit for a purchase of 20% or for a remortgage a minimum of 20% of equity remaining in the property.
For a purchase you can borrow up to 80% of the purchase price or valuation (whichever is lower), for a remortgage we can cover any secured lending on the property or any works to be spent on improving the property.
Yes, although we do offer a buy-to-let mortgage. Please bear in mind that we don’t offer mortgages for second homes, holiday homes or homes classed as mobile planning.
The mortgage is available for non-standard construction types (eg timber frame/clad) providing it complies with our ecological requirements of a minimum 85B EPC, buildings insurance can be obtained, and the valuer confirms the condition and marketability of the property are satisfactory.
