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For us to apply the C-Change sustainable homes or C-Change energy improvements discount, once your conversion is complete you need to provide an Energy Standard certificate and Architect or Building Control certificate.
The C-Change sustainable homes or C-Change energy improvements discount is only applied to our Standard Variable Rate from the date we receive evidence that the work has been completed and the Energy Standard rating required has been achieved.
Does Ecology require planning permission for my conversion project?
Yes. We need at least outline planning permission to start the application process and detailed planning permission before the mortgage is released.
What information do I need to progress a mortgage application?
You’ll need to have a specific property conversion 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 converting to. We’re currently focusing on conversions that are aiming for Passivhaus or EPC B (SAP rating 85+) or above.
What deposit do I need for my conversion project?
You need a 20% minimum deposit to buy the property and a further 15% – 20% of total conversion costs to start your project.
Do I still need a deposit for my conversion if I already own the property and have planning permission?
No, you don’t always need a deposit; we can lend based on the value of your property to start the conversion, providing you already own the property and it’s mortgage-free. Also, we can help you repay any outstanding finance on the property if you need it.
Do borrowers who are planning to convert their property need to show how they plan to improve the property’s energy efficiency?
Any project we support needs to show planning details of the proposed conversion with an indication of the Energy Standard you are converting to, and how the project costs are expected to be funded with savings and mortgage finance. We don’t just lend to purchase the property.
How long do I have to complete the conversion?
Subject to planning constraints, we allow a maximum of 2 years for you to complete the conversion, although we encourage you to complete earlier to benefit from our C-Change discount (C-Change sustainable homes or C-change energy improvement). The applicable discount is applied to our Standard Variable Rate when we receive evidence that the work has been completed and the Energy Standard rating required has been achieved.
Do you offer stage payments for a conversion?
Yes, although the Ecology conversion mortgage does not release payments at set construction milestone stages. We release funds as and when the conversion progresses and release up to a percentage of the increased value of the property.
Can I have an interest-only mortgage during the conversion phase?
We offer an interest-only mortgage only when you have a qualifying repayment vehicle to support this for example an established ISA, endowment policies or Pension Plan.
Does Ecology require a particular build warranty on completion of my conversion?
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.
Does the conversion property have to be my main residence?
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.
| Energy Standard | Ratings | SVR (Standard Variable Rate) | Discount % | Variable Mortgage Rate |
|---|---|---|---|---|
| Passivhaus | Passivhaus | 6.29% | 1.50% | 4.79%. The overall cost for comparison is 5.0% APRC |
| Passivhaus | PHPP Modelled | 6.29% | 0.75% | 5.54%. The overall cost for comparison is 5.8% APRC |
| Energy Performance Certificate (EPC) | A (SAP rating 110+) (++) | 6.29% | 1.25% | 5.04%. The overall cost for comparison is 5.2% APRC |
| Energy Performance Certificate (EPC) | A (SAP rating 100-109) (+) | 6.29% | 1.00% | 5.29%. The overall cost for comparison is 5.5% APRC |
| Energy Performance Certificate (EPC) | A (SAP rating 92-99) | 6.29% | 0.75% | 5.54%. The overall cost for comparison is 5.8% APRC |
| Energy Performance Certificate (EPC) | B (SAP rating 88-91) | 6.29% | 0.50% | 5.79%. The overall cost for comparison is 6.0% APRC |
| Association for Environment Conscious Building (AECB) | AECB CarbonLite Building Standard | 6.29% | 1.00% | 5.29%. The overall cost for comparison is 5.5% APRC |
Our Standard Variable Rate applies until we receive evidence that the Energy Standard rating required has been achieved and, if applicable, work has been completed. Once your renovation is complete, you need to provide a copy of the final Energy Performance Certificate (EPC).
A discount between 0.25% and 1.50% will apply to our Standard Variable Rate for every grade improvement in your home’s EPC rating and the discount will be applied to all your mortgage balance.
| Energy Standard | Energy Efficiency or Environmental Impact Rating | VR (Variable Rate) | Discount % | Variable Mortgage Rate |
|---|---|---|---|---|
| Energy Performance Certificate (EPC) | EPC rating improvement | 3.65% | 0.25% for each grade improvement in the EPC rating | 3.40%-2.15% The overall cost for comparison is 3.80% APRC |
For us to apply the C-Change sustainable homes discount, once your build is complete you need to provide an Energy Standard certificate and Architect or Building Control certificate.
The C-Change sustainable homes discount is only applied to our Standard Variable Rate from the date we receive evidence that the work has been completed and the Energy Standard rating required has been achieved.
As a building society with a unique mission to build a greener society, we lend on projects and properties that support our aims through their reduced impact on our environment. Making your home energy efficient is a major way you can support tackling climate change – while saving on your energy bills.
We reward borrowers whose properties are energy efficient (therefore have lower carbon emissions) with our C-Change discounts off our Standard Variable Rate which helps them save money on their mortgage. We call our discounts ‘C-Change discounts’ simply because we’re aiming to make a ‘sea-change’ of difference to our climate with each property or project we fund.
The level of our C-Change sustainable homes or C-Change retrofit discount that applies is based on the Energy Standard rating achieved on the self-build, renovation or conversion when the work is completed. Our C-Change energy improvements discount is based on the qualifying energy measures being installed. The discount is applied from the date we receive evidence that the work has been completed and if applicable the Energy Standard rating required has been achieved.
Joint account? You must each have your identity verified. However, both of you may rely on the same items from Table A and Table B if they are addressed to and clearly identify each of you.
Copies of passports and driving licences must be certified by one of the following:
Certification: The document that is being certified must state ‘original seen‘ as well as being dated and signed. The document should also include the name of the certifier and full contact details. If the identification is photographic, the certifier must state that ‘the photograph is a good likeness of the applicant‘
Your eligible deposits with Ecology Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.
Download the FSCS leaflet for further details or visit www.fscs.org.uk | FSCS Information Sheet
