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Small Scale Development Finance from Ecology Building Society

Description

Purpose
To finance appropriate build-to-sell and renovate-to-sell projects

Ecological criteria
New dwellings to be constructed/renovated using ‘green’ materials and / or techniques

Applicants
Builders - including Corporates, Co-housing groups, Trusts and individuals

Financial Criteria
Capital is required to cover 12 months interest payments or total lending to be no more than 3 times income/net rofits. Business Plan including costs/estimates required
for assessment.

Scale of project
No limit on number of dwellings (but likely to be smallscale)

Account type
Interest only

Administration fee
0.75% of loan value (minimum fee £500)

Valuation fee
Commercial fee charged by valuer

Interest rate
Commercial rate – negotiable

Term
Two years (no early repayment charges)

Loan – to -Value
Maximum of 70%

Release of funds
In stages as required

Interest payment
Six monthly in arrears unless request made for first such payment to be capitalised

Capital repayment
Part repayment expected on sale of individual properties (where more than one) unless coincides with further draw down.

For further information email loans at Ecology or visit the Ecology website.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Find out more

See this product at…

The National Homebuilding & Renovating - Stand N173

Ecology Building Society

Ecology Building Society have been providing a unique brand of green mortgages for over 25 years, lending on properties that benefit the environment. The main lending areas are:
  • 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

Telephone: 0845 674 5566

 

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