Record year for the Ecology
11:30am Tuesday 18th March 2008
The Silsden-based Ecology Building Society has enjoyed a record year.
Gross lending last year was £15 million, compared to £7.7 million in 2006, and net lending rose from £3.3 million to £9.7 million. The result was mortgage asset growth of 17.1 per cent.
The Ecology's ethical savings balances also grew, with a percentage increase of 10.1 taking the total to £69.4 million.
Chief executive Paul Ellis said: "We have had an exceptional year - lending is up, inflow is up and profits are up. Not only are we doing well financially, but the ecological quality of our lending continues to be strong.
"We will be announcing new discounts to support buyers of accredited sustainable homes very shortly, which will offer borrowers significant rate savings for the life of their mortgage.
"This will only help support and increase our plans for sustained growth in 2008 and seeks to acknowledge the progress being made in accrediting well-built, energy-efficient new homes and to reward buyers when making an informed choice."
The Ecology Building Society, which was the first lender to offer "green" mortgages, has recently been shortlisted for the Best National Building Society title in this year's What Mortgage Awards. In 2006, it was third in the category and sixth overall in best-value lender.