Ecology launches higher LTV mortgage for home renovation projects

Ecology Building Society has extended its range of renovation mortgages with a new product available up to 90% LTV.

The mutual’s new Renovation 90 large loan product has a 5.99% variable rate and no early repayment charges.

The Society recently introduced a new large loan renovation mortgage at 80% LTV for properties up to £2 million, for higher-value properties and larger projects.

Daniel Capstick, Ecology Building Society’s senior product and proposition manager, said: “We’ve been known for our renovation mortgages since we were founded more than four decades ago and we continue to review and improve our range in response to market need and customer feedback.

“In line with our other renovation products, the latest addition offers an added incentive for Ecology borrowers to cut their home’s carbon footprint. 

“All our renovation mortgages come with our C-Change discount, which can take up to 1.50% off their mortgage rate as recognition for how they’ve improved their home’s energy efficiency.

“We also offer cashback for borrowers who install a heat pump as part of their project.”