Ecology Building Society has launched a community living mortgage for individuals trying to buy or remortgage properties which might be a part of a co-housing scheme.
Co-housing developments are made up of self-contained residential houses for people, {couples} or households.
Ecology’s community living mortgage has a reduced variable fee of 5.34% and is out there as much as 90% loan-to-value (LTV), with no utility price and limitless overpayment choices.
Ecology Building Society senior mortgages product and proposition supervisor Daniel Capstick says: “Co-housing can have many constructive advantages for individuals and our planet and assist communities to thrive, but most lenders don’t present mortgages to allow this kind of living.”
“Ecology’s new Community Lending mortgage product bridges this hole and enhances the business lending we offer to assist with the creation of such developments.”
“The co-housing schemes we’ve supported already are main the best way in sustainable living with some having their very own renewable energy technology, automotive and bike swimming pools and meals rising, so offering this kind of mortgage for residents was a pure subsequent step.”
Earlier this month, Ecology launched a brand new excessive LTV mortgage. The mutual’s reasonably priced native houses mortgage is designed for patrons of reasonably priced properties by means of the discounted market sale scheme.
