A building society which funds mortgages to bring derelict buildings back to life has been praised for the value its mortgages provide for customers.

Research by Network Data shows that as the Ecology, based in Cross Hills near Keighley, has grown from an acorn in the 1980s to a sapling in the 1990s, its mortgages have become even better value.

"We are now the eighth best value lender in the whole country over two years," said Ecology chief executive Paul Ellis.

"Having started off at 86th over ten years and risen to 16th over five years. This is the most improved performance of any mortgage lender in the UK. An achievement our management team and board are proud of."

The Ecology specialises in mortgages to fund the renovation of derelict properties, building new energy-efficient homes, and mortgages to support organic farming, housing associations, worker co-operatives and eco-businesses.

"As a small lender we cannot offer whopping up-front discounts. These figures show that initial special offers are paid for in the long run, and that borrowers should be looking for long-term value instead of short-term gimmicks when choosing a lender."

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