Archives: FAQ - Mortgages

Yes, although the Ecology self-build mortgage does 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.

Subject to planning constraints, we allow a maximum of 2 years for you to complete the self-build, although we encourage you to complete earlier to benefit from our C-Change sustainable homes discount which is applied to our Standard Variable Rate from the date we receive evidence that both the work has been completed and the Energy Standard rating required has been achieved.

We don’t just lend on a plot/land purchase. Any project we support needs to show planning details of the proposed build with an indication of the energy standard you are building to, and how the build costs are expected to be funded with savings and mortgage finance.

No, you don’t always need a deposit; we can lend based on the value of your land to start the build, 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.

You need a 20% minimum deposit to buy the land and a further 15% – 20% of total build costs to start your build.

You’ll need to have a specific plot and build in mind which needs to be supported by detailed plans, including a breakdown of material and labour costs and an indication of the energy standard you are building to.
• What deposit do I need for my self-build?
You need a 20% minimum deposit to buy the land and a further 15% – 20% of total build costs to start your build.

Yes. We need at least outline planning permission to start the application process and detailed planning permission before the mortgage is released.