Do we need to provide planning permission for a new build development?
Yes, we require detailed planning permission for an application.

What information do we need to progress a mortgage application?
We will need to be satisfied that you have enough income or surplus to meet the mortgage repayments. We’ll also need to see a business plan showing the forecast income and expenditure for the organisation, together with copies of your past three years’ accounts.

What deposit do we need for our mortgage?
You need a minimum deposit of 25% of the purchase price or value of the property(ies) being mortgaged, whichever is the lower.

Do we still need a deposit if we already own the land and have planning permission?
No, you don’t always need a deposit; we can lend based on the value of your land or property, providing you already own the land and it’s mortgage-free. Also, if you need us to, we can help you repay any outstanding finance on the land.

How long do we have to complete a new build or renovation project?
Subject to planning constraints, we allow a maximum of 2 years for you to complete the project.

Do you offer stage payments?
Yes, although we do not release payments at set construction milestone stages (e.g. foundation, wall plate etc.). We release funds as and when the build progresses and release up to a percentage of the increased value of the property.

Can we have interest-only during a new build or renovation phase?
Yes, we can consider an interest-only period during the construction or renovation phase.

Does Ecology require a particular build warranty on completion of my project?
A build warranty is not a mandatory lending requirement of our mortgage and we are happy with a Building Regulation Completion Certificate. However, if you wish to take out a build warranty for the completion of the property then this is acceptable to the Society.

Do we need to have been established for a minimum period before you will lend to us?
Yes, you need to have a minimum of three years’ trading or accounting history

How much will our mortgage cost a month?
As soon as we know that we can help, we’ll provide you with an indicative illustration, showing how much your monthly repayment will be for the amount you want to borrow, over the term you require.