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Lending for Community Gain - Ecology Building Society
Description
As part of its programme of sustainable lending, the Society will lend to projects with a strong community focus. We can lend for a wide range of purposes on a secured basis. We seek to be as flexible as possible in determining overall lending terms, recognising that there may be very different requirements and circumstances behind each project.
Lending terms
The following provides a brief guide to our lending terms:
- Maximum loan to value of 70%
- Loan term from 10 to 30 years
- Multiple drawdowns
- Interest rates are negotiable
- Initial interest-only period possible
- All legal and valuation fees would be costs to the borrower
- Repayment programme by agreement
- No commitment fees
- Maximum administration fee of 0.75% of loan value (minimum fee £250)
Some examples of the type of projects we have helped to finance include…
The community trust
Stonesfield in West Oxfordshire is the home of a successful community project, which demonstrates what a rural community can do for itself.
Determined to correct a severe shortage of affordable accommodation for young couples and single people who wished to stay in the village, a village Community Trust was established as a registered charity. By direct building, it managed to put three flats on the site. In the second phase of its development four one-bed homes and one two-bed home were built, one of the latter specially adapted for a disabled applicant.
The work of the Trust demonstrates that community action can make a difference ensuring that accommodation is available for people who otherwise would be forced out of the area.
The wildlife trust
A former Sunday school in Sheffield was redeveloped as the new headquarters for the nature conservation charity – Sheffield Wildlife Trust. With the help of an Ecology mortgage, the Grade II listed building was purchased and fully renovated to accommodate the Trust’s offices. Funds for the project were also provided partly by the European Regional Development Fund (ERDF) and Single Regeneration Budget
(SRB).
For further information, contact the Ecology Building Society
See this product at…
The National Homebuilding & Renovating - Stand N173
Ecology Building Society
- Run-down or derelict dwellings that require substantial renovation work – including listed and historic buildings. This is a form of recycling – reusing existing buildings and resources
- Disused, neglected property that can be converted in to usable buildings, for example, old barns, former water towers, lighthouses and chapels. Again reusing existing resources
- New ecologically built homes, using sustainable, natural materials and incorporating high levels of energy efficiency and renewable energy systems. These properties have a lower impact on the environment in terms of construction and energy usage
- The installation of energy saving measures and renewable energy systems to existing property, in order to increase their energy efficiency
Interest is calculated on a daily basis on all Ecology Building Society residential mortgages and we do not impose higher lending charges.
Mortgages are also available across the UK for:
- Timber constructions
- The purchase of woodland
- Buy-to-Let properties (which meet our general lending criteria)
- Organic smallholdings
- Housing co-operatives
- Small Scale Development projects
Ecology Building Society is authorised and regulated by the Financial Services Authority.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Products
Call Ecology Building Society on 0845 674 5566
