Ecology Building Society is a unique UK mortgage lender that specialises in financing properties and projects that are sustainable and environmentally friendly.
They are a good option if you're buying, building, or renovating a home with a strong focus on energy efficiency and ecological principles. However, they are not a suitable lender for standard properties with poor energy performance unless there's a clear plan to improve it.
You can compare the latest rates from Ecology against the rest of the market using our free mortgage-sourcing tool below.
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Lender Details
Product Details
Who are Ecology Building Society?
Ecology Building Society is a mutual institution, meaning it's owned by and run for its members. Founded in 1981, its mission is to build a greener society by providing mortgages for properties that respect the environment.
Their entire lending philosophy is built on sustainability. They use a manual, individual approach to underwriting, focusing on the ecological merit of a project, not just the borrower's financial standing. They are the go-to lender for anyone undertaking a green self-build, renovating a derelict property to high energy standards, or buying an unconventional eco-home.
What types of mortgages do they offer?
Ecology's mortgage products are all about the property and its environmental impact. They don't have a standard list of "2-year fixes"; instead, they offer a variable discount mortgage where the rate you get is directly linked to how energy efficient your home is.
Their lending supports:
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Green Self-Builds: Funding to build your own eco-home from scratch, often using non-standard materials like timber frames, straw bale, or cob.
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Eco-Renovations: Mortgages to purchase and radically improve the energy efficiency of an existing home. This is perfect for rundown properties that you plan to transform.
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Energy-Efficient Homes: Mortgages to buy a home that already has a high standard of energy performance.
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Community-Led Housing: They are experts in financing co-housing projects and community land trusts.
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Woodland: They can even provide mortgages to purchase and manage sustainable woodland.
The C-Change Discount
This is Ecology's flagship feature. The "C-Change" (Climate Change) mortgage offers a discount off their Standard Variable Rate (SVR) based on your property's final Energy Performance Certificate (EPC) rating.
Put simply: the better your home's energy efficiency, the lower your interest rate.
This provides a clear financial incentive for borrowers to build or renovate to the highest possible standard. For example, a home meeting the top Passivhaus standard would receive the largest possible discount and the lowest mortgage rate.
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Lending Criteria: What do they look for?
Ecology's criteria are different from any other lender. While you still need to prove affordability, their primary focus is on the property itself.
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The Project: They want to see a clear plan that demonstrates a positive environmental impact. This could be through sustainable materials, low-energy construction, or significant improvements to an existing building.
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Valuations: They use specialist surveyors who understand non-standard construction. The valuation will be based on the property's final value after the green improvements have been made.
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No Credit Scoring: Like other specialists, they don't use automated credit scores. An underwriter assesses every application on its own merits.
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Affordability: You must be able to afford the loan. They will assess your income and outgoings in a standard way.
Pros and Cons of an Ecology Building Society Mortgage
Pros:
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Ethical Lending: You are borrowing from an organisation whose values are aligned with creating a sustainable future.
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Specialist Knowledge: Unrivalled expertise in green self-builds and non-standard construction. They understand your project when others won't.
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Financial Rewards: The C-Change discount directly rewards you with a lower mortgage rate for making your home more energy-efficient.
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Flexibility: Their manual underwriting means they can take a common-sense view of individual circumstances.
Cons:
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Niche Focus: Not suitable for buying a standard, energy-inefficient home with no plans for improvement.
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Variable Rates: Their main products are variable-rate mortgages linked to their SVR, which may not suit those who want the certainty of a fixed rate.
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In-Depth Process: The application process can be more detailed as they need to fully understand the ecological credentials of your project.
How to apply
Ecology Building Society accepts applications directly from the public and also works with mortgage brokers, which is a better alternative to going direct.
If you apply through a broker like Money Helpdesk, you will get expert advice about whether there is a better alternative to Ecology for you, access to exclusive deals and help with the application process from start to finish.
Get started here to take advantage of a free, no-obligation chat with a broker who specialises in Ecology’s product range and can advise on their deals.