Ecology launches game changing mortgages for off-site construction
Ecology Building Society has teamed up with leading modular manufacturers to launch a new range of mortgages to support the growth of modern methods of construction. Their innovative approach enables lending to be secured on the modular panels before they arrive on site, ensuring that finance is available for different types of self-builders.
Ecology is the first UK lender to bring together modular construction manufacturers with a dedicated mortgage solution (including an advanced payment option) making it easier for borrowers to access mortgage finance for this type of self-build.
The new ‘Off-site build’ mortgages enhance our range of green mortgages for self- and custom-build and we hope that this will help encourage and accelerate the construction of the most energy-efficient homes to help meet the UK’s net-zero ambitions.
Ecology has partnered initially with four modular manufacturers to offer the new mortgages to their customers only. The Society expects to partner with more suppliers in the coming months.
Off-site construction utilises panellised units which are manufactured off-site in a factory and then assembled on-site to create an energy-efficient home. The modular approach has benefits including significantly quicker construction times, improved and more consistent build quality and a lower carbon footprint by reducing transport emissions, using more sustainable building materials and reducing construction waste.