To search for an item in the Society’s lending criteria you can select Residential or Buy to Let criteria then search the relevant category, filter categories by sub category, search a topic or key word. If you have any further questions about our criteria, please contact the Intermediary team. The information on this page is updated daily via Criteria Hub.
Value:
36 months
Criteria Policy Notes:
Bath Building Society requires applicants to have been residents in the UK for at least 36 months.
Criteria description:
This is the required number of months we specify an applicant has to have had a UK address history for.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society will accept applications from advisors applying for their own mortgage
Criteria description:
Indicates if we can potentially accept residential applications from an advisor wishing to apply for his or her own mortgage.Value:
Can Be Ignored
Criteria Policy Notes:
Bath Building Society will ignore 'Additional Voluntary Pension Contributions' when assessing borrowers affordability.
Criteria description:
Indicates if we can potentially ignore additional voluntary pension contributions when assessing applicants expenditure for affordability purposes.Value:
Can Be Ignored
Criteria Policy Notes:
Bath Building Society will ignore 'Charitable Donations' when assessing borrowers affordability.
Criteria description:
Indicates if we can potentially ignore charitable donations when assessing applicants expenditure for affordability purposes.Value:
Not Ignored
Criteria Policy Notes:
Bath Building Society will include 'Child Care Vouchers' when assessing borrowers affordability.
Criteria description:
Indicates if we can potentially ignore childcare vouchers when assessing applicants expenditure for affordability purposes.Value:
Can Be Ignored
Criteria Policy Notes:
Bath Building Society will ignore 'Company Pension Contributions' when assessing borrowers affordability.
Criteria description:
Indicates if we can potentially ignore company pension contributions when assessing applicants expenditure for affordability purposes.Value:
Not Ignored
Criteria Policy Notes:
Bath Building Society will include 'Maintenance Payments' when assessing borrowers affordability.
Criteria description:
Indicates if we can potentially ignore maintenance payments when assessing applicants expenditure for affordability purposes.Value:
Can Be Ignored
Criteria Policy Notes:
Bath Building Society will ignore 'Private Healthcare Payments' when assessing borrowers affordability.
Criteria description:
Indicates if we can potentially ignore private health care premiums when assessing applicants expenditure for affordability purposes.Value:
Not Ignored
Criteria Policy Notes:
Bath Building Society will include 'School Fees' when assessing borrowers affordability.
Criteria description:
Indicates if we can potentially ignore school fees when assessing applicants expenditure for affordability purposes.Value:
Not Ignored
Criteria Policy Notes:
Bath Building Society will include 'Season Ticket Loans' when assessing borrowers affordability.
Criteria description:
Indicates if we can potentially ignore season ticket loans when assessing applicants expenditure for affordability purposes.Value:
Can Be Ignored
Criteria Policy Notes:
Bath Building Society will ignore 'Sharesave Schemes' when assessing borrowers affordability.
Criteria description:
Indicates if we can potentially ignore share save schemes when assessing applicants expenditure for affordability purposes.Value:
Not Ignored
Criteria Policy Notes:
Bath Building Society will include 'Student Loans' when assessing borrowers affordability.
Criteria description:
Indicates if we can potentially ignore student loans when assessing applicants expenditure for affordability purposes.Value:
Can Be Ignored
Criteria Policy Notes:
Bath Building Society will ignore non dependent household occupants when assessing borrowers affordability.
Criteria description:
Indicates if we can potentially ignore non-dependant household occupants when assessing applicants expenditure for affordability purposes.Warning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
Not Ignored
Criteria Policy Notes:
Bath Building Society will include personal borrowing for self employed business purposes when assessing borrowers affordability
Criteria description:
Indicates if we can potentially ignore personal borrowing for self employed business purposes when assessing borrowers affordabilityValue:
85
Criteria Policy Notes:
Bath Building Society allows Interest Only mortgages up until a maximum age of 85 for the oldest applicant.
Criteria description:
Indicates the maximum age at the end of the mortgage term we could consider for an interest only application on residential applicationsValue:
79 years
Criteria Policy Notes:
Max age we can lend to at point of application is 79 (unless on the RIO product).
Criteria description:
Indicates the maximum age (at the point of application) an applicant can be in order for them to be considered for an application with us.Value:
85 years
Criteria Policy Notes:
85 is the maximum age at the end of the application for residential mortgages.
Criteria description:
Indicates the absolute maximum age we might lend to. In summary 'Age Limits: Maximum Age at End of Mortgage Term' indicates the age we can potentially lend up until if you meet all required criteria.Value:
85 years
Criteria Policy Notes:
85 is the maximum age at the end of the application for residential mortgages.
Criteria description:
Specifies the maximum age we can potentially accept for a non-contributing applicant. A non-contributing applicant is an applicant whose income is not factored into the affordability of the mortgage.Value:
70 years
Criteria Policy Notes:
Proof of pension income will be required after age 70 or the applicants stated retirement age whichever is lower.
Criteria description:
Specifies the maximum age we might be able to accept before proof of acceptable pension income would be required. This figure can vary from applicant to applicant as it often depends upon other factors such as an applicant's planned retirement age. Therefore the value shown is the maximum age we may be able to lend to before pension proof would be required and assumes applicants planned retirement age is not sooner than our stated maximum.Value:
85 years
Criteria Policy Notes:
Maximum allowable age for residential is 85.
Criteria description:
Specifies the maximum age we can potentially accept for a self employed borrower.Warning:
Maximum retirement age is earlier of 70 or stated retirement age, beyond this retirement income will be assessed for affordability.Value:
18 years
Criteria Policy Notes:
18 for residential applications
Criteria description:
Specifies our minimum age at point of application requirement for residential mortgages.Value:
No Maximum
Criteria Policy Notes:
Bath Building Society do not impose a maximum age for an applicant ON APPLICATION for Retirement Interest Only (RIO) mortgages.
Criteria description:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so, do we have a MAXIMUM AGE AT APPLICATION requirement.Value:
No Maximum
Criteria Policy Notes:
Bath Building Society does not have a maximum age for Retirement Interest Only mortgages.
Criteria description:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so, do we have a maximum age at the end of the term requirement. Mortgage lenders are not required to set a fixed term for the mortgage and so the repayment date can be when the borrower dies or goes into care, as with Lifetime Mortgages.Value:
55
Criteria Policy Notes:
Bath Building Society has a minimum age requirement on application for Retirement Interest Only (RIO) mortgages of 55
Criteria description:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so, do we have a minimum age requirement.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can consider an applicant who is not on electoral register. Subject to an explanation for not being on the electoral register and acceptable proof of address.
Criteria description:
Indicates if we will consider a residential application for an applicant who is not on the electoral registerValue:
No
Criteria Policy Notes:
Bath Building Society does not allow fees to be added where it means the lending loan to value limits will be exceeded.
Criteria description:
Indicates if we allow borrowers to add the arrangement fee (where one is payable) to the mortgage advance where this will mean the max lending policy loan to value will be exceeded.Value:
No
Criteria Policy Notes:
Bath Building Society does not allow fees to be added where it means the product loan to value limits will be exceeded.
Criteria description:
Indicates if we allow borrowers to add the arrangement fee (where one is payable) to the mortgage advance where this will mean the product loan to value will be exceeded.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider applicants that have an arrangement to pay registered on their credit file. Applicants would have to be clear for the last 12 months.
Criteria description:
Indicates if we can potentially accept applicants that have an arrangement to pay registered on their credit file on residential applications.Value:
Acceptable
Criteria Policy Notes:
80% to 95% LTV none accepted in the last 3 years. 70% to 80% LTV - Maximum status 1 in the last 2 years and must be satisfied for at least 12 months, up to 70% LTV - Maximum status 2 in the last 2 years, and must be satisfied for at least 6 months.
Criteria description:
Indicates if we can potentially accept applications from applicants that have a history of mortgage or secured loan arrears.Value:
Acceptable
Criteria Policy Notes:
80% to 95% LTV none accepted in the last 3 years. 70% to 80% LTV - Maximum status 1 in the last 2 years, up to 70% LTV - Maximum status 2 in the last 2 years. (Utilities & mobiles ignored up to £250).
Criteria description:
Indicates if we can potentially accept applications from applicants that have a history of unsecured loan arrears.Warning:
Must be currently up to date on the credit search.Value:
Monthly Payment
Criteria Policy Notes:
Bath Building Society will use the monthly payment of any additional residential mortgages when assessing affordability as opposed the outstanding balance. We will stress this monthly payment at 1.2% above their current rate.
Criteria description:
Indicates if we will use the monthly payment of any background other residential mortgages when assessing affordability or the outstanding balance. For example, Applicant 'A' is applying for a new mortgage with Lender 'A'. Applicant 'A' has a second property in the background that is used as a second home with an outstanding mortgage of £50,000 and a monthly payment of £300 per month. When assessing Applicant 'A's' income Lender 'A' take the monthly payment of the background mortgage as a monthly commitment as opposed to deducting the outstanding balance (£50,000) from the total amount they have calculated Applicant 'A' could borrow based on his income.Value:
Acceptable
Criteria Policy Notes:
Criteria description:
Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.Value:
Acceptable
Criteria Policy Notes:
Criteria description:
Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.Value:
Acceptable
Criteria Policy Notes:
Criteria description:
Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.Value:
Acceptable
Criteria Policy Notes:
Criteria description:
Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.Value:
Acceptable
Criteria Policy Notes:
Criteria description:
Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept back to back purchases of this nature.
Criteria description:
Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society will accept back to back transactions on this basis
Criteria description:
Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept back to back purchases of this nature.
Criteria description:
Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept adoption allowance as an income type.
Criteria description:
Displays if we will accept Adoption Allowance as an acceptable source of income for affordability purposes.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept attendance allowance as an income type.
Criteria description:
Displays if we will accept Attendance Allowance as an acceptable source of income for affordability purposes.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept carers allowance as an income type.
Criteria description:
Displays if we will accept Carers Allowance as an acceptable source of income for affordability purposes.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept child benefit as an income type. This automatically included in the affordability
Criteria description:
Displays if we will accept Child Benefit as an acceptable source of income for affordability purposes.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept child tax credits as an income type.
Criteria description:
Indicates if we accept child tax credits as an allowable income type for affordability purposes.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept constant attendance allowance as an income type.
Criteria description:
Displays if we will accept Constant Attendance Allowance as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept disability living allowance as an income type.
Criteria description:
Displays if we will accept Disability Living Allowance as an acceptable source of income for affordability purposes.Warning:
Provided that it's awarded for life and not the sole source of income.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept employment and support allowance as an income type.
Criteria description:
Displays if we will accept Employment and Support Allowance as an acceptable source of income for affordability purposes.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept guardian allowance as an income type.
Criteria description:
Displays if we will accept Guardian Allowance as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society does accept industrial injuries disablement benefit as an income type provided it is guaranteed for life.
Criteria description:
Displays if we will accept Industrial Injuries Disablement Benefit as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept personal independence payment as an income type.
Criteria description:
Displays if we will accept Personal Independence Payment as an acceptable source of income for affordability purposes.Warning:
100%, providing it’s awarded for life and cannot be the sole source of income.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept universal credit as an acceptable income type.
Criteria description:
Displays if we will accept Universal Credit as an acceptable source of income for affordability purposes.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept working tax credits as an income type.
Criteria description:
Indicates if we accept working tax credits as an allowable income type for affordability purposes.Value:
Offered
Criteria Policy Notes:
Bath Building Society will accept Buy for University Mortgage enquiries on a referral basis only and will be sold in house by our Mortgage Consultants. We will pay a 0.2% referral fee on completion of the loan.
Criteria description:
Indicates if we can potentially consider applications on a Buy for University Scheme. Buy for uni allows students to borrow up to 100% to buy a property and rent out rooms to meet the mortgage interest payments. Parents support the arrangement by being a joint borrower on the mortgage and by providing additional security if necessaryWarning:
This mortgage is sold by our Mortgage Consultants onlyValue:
Not Acceptable
Criteria Policy Notes:
Not accepted.
Criteria description:
Indicates if we can potentially accept applicants that have had any CCJs registered more than 12 months ago and less than 24 months ago. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.Value:
Potentially Acceptable
Criteria Policy Notes:
Available up to 70% LTV - Maximum £2,500 registered over 2 years.
Criteria description:
Indicates if we can potentially accept applicants that have had any CCJs registered more than 24 months ago and less than 36 months ago. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider applicants that have had CCJs registered more than 3 months ago and less than 12 months ago.
Criteria description:
Indicates if we can potentially accept applicants that have had any CCJs registered more than 3 months ago and less than 12 months ago. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.Value:
Not Acceptable
Criteria Policy Notes:
Not accepted.
Criteria description:
Indicates if we can potentially accept applicants that have had any CCJs registered in the past 3 months. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.Value:
Potentially Ignored
Criteria Policy Notes:
Available up to 70% LTV - Maximum £2,500 registered over 2 years.
Criteria description:
Indicates if we can potentially ignore CCJs that were registered more than 36 months ago. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.Value:
No
Criteria Policy Notes:
Bath Building Society does not allow applicants to extend their mortgage offer. Refer to Lender.
Criteria description:
Indicates if we can potentially extend a clients mortgage offer beyond the standard expiry.Value:
Acceptable
Criteria Policy Notes:
Providing the correct amount of stamp duty is paid
Criteria description:
Indicates if we accept concessionary purchase applications where the current owner is related to one of the applicants. For example, Mr Smith has agreed to sell a property he owns to his grandson (Joe) for £150,000. The property is worth £200,000. Joe wishes to purchase the property for £150,000 and would like a lender who will use the difference between the property value and the purchase price as a deposit (£50,000).Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept this type of concessionary purchase
Criteria description:
Indicates if we accept concessionary purchase applications where the current owner is the landlord of the property and the applicant(s) are the tenants. For example, Mr Landlord has agreed to sell the property he Lets to his tenants (Tom and Sally) for £150,000. The property is worth £200,000. Tom and Sally wish to purchase the property for £150,000 and would like a lender who will use the difference between the property value and the purchase price as a deposit (£50,000).Warning:
Please refer the case with full details. Agreed on a case by cases basisValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept the situation where it is a concessionary purchase where the giftor will remain an occupant of the property.
Criteria description:
Indicates if we accept concessionary purchase applications where the current owner is providing a gift of equity AND WILL REMAIN IN THE PROPERTY. For example, Mr Lane has agreed to sell a property he owns to his son (Tony) for £150,000. The property is worth £200,000. Tony wishes to purchase the property for £150,000 and would like a lender who will use the difference between the property value and the purchase price as a deposit (£50,000) and is happy for Mr Lane senior to remain in the property.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not allow borrowers to Let a room in their main residence via AirBnB or similar
Criteria description:
Indicates if we allow borrowers to Let a room via services such as AirBnB or similar. FOR CLARIFICATION this is for the situation whereby the borrower resides in the security property and Lets a room in that property.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can accept a situation where an applicant is in tied accommodation, wishes to purchase on a residential basis, Let the property and remain in the tied accommodation. Subject to situation, please refer before placing.
Criteria description:
Indicates if we can potentially allow applicants that are in tied accommodation to take a residential product and give the applicant permission to Let the property whilst they remain in the tied accommodation. For example an applicant who is moving into or currently in tied accommodation linked to their employment (e.g. boarding school teacher, vicar/minster, estate worker, army barracks etc) and will remain in this situation until their job ceases at some point in the future. They'd like to purchase a property that they intend to live in at a later date but would like to Let the property whilst they remain in tied accommodation.Warning:
Subject to situation, please refer before placing.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept applications where contract reassignment exists
Criteria description:
Indicates if we are potentially able to accept the situation whereby the purchaser is looking to buy a new build property from a third party (not the builder/developer) who has yet to complete on the transaction. An example of this is whereby a third party has secured the property off plan and exchanged contracts but has not completed. They then sell the contract to a new purchaser. This is known as 'contract reassignment'. Sometimes this is for a premium of the original purchase price and sometimes it is without a premium.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept agency work as an income type.
Criteria description:
Displays if we will accept Agency work as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept CIS contractors as an income type.
Criteria description:
Displays if we will accept CIS Contractor as an acceptable source of income for affordability purposes.Warning:
Would be considered a sole trader and subject to standard policy.Value:
Acceptable
Criteria Policy Notes:
We will consider fix term contracts where there is 24 months to run or a track record of 24 months and have at least 6 months to run
Criteria description:
Displays if we will accept Fixed Term Contract as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept IT Consultant as an income type. Would need evidence of 3 years earnings as an IT Consultant.
Criteria description:
Displays if we will accept IT Contractor as an acceptable source of income for affordability purposes.Warning:
Would need evidence of 3 years earnings as an IT Consultant.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept nursing bank as an income type.
Criteria description:
Displays if we will accept Nursing Bank as an acceptable source of income for affordability purposes.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept piecework contracts as an income type.
Criteria description:
Displays if we will accept Piecework Contract as an acceptable source of income for affordability purposes.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept probationary contracts as an income type.
Criteria description:
Specifies if we accept someone's income who is on a 'probationary contract'. A probationary contract is not the same as a probationary period. If your client is simply in a probationary period then you should check that specific criteria.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept income from a rolling contract.
Criteria description:
Indicates if we can accept a rolling contract as an acceptable source of income for affordability purposes.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept seasonal contracts as an income type.
Criteria description:
Displays if we will accept Seasonal Contract as an acceptable source of income for affordability purposes.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept short term renewable contracts as an income type.
Criteria description:
Displays if we will accept Short Term Renewable Contract as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept sub contractors as an income type.
Criteria description:
Displays if we will accept Sub contractor as an acceptable source of income for affordability purposes.Warning:
Would need evidence of 3 years of earnings.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept temporary contracts as an income type.
Criteria description:
Displays if we will accept Temporary Contract as an acceptable source of income for affordability purposes.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider contractor income that is paid via an umbrella company.
Criteria description:
Indicates if we can consider contractor income where the income paid to the applicant is paid via an umbrella company.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept zero hours contracts as an income type.
Criteria description:
Displays if we will accept Zero Hours Contract as an acceptable source of income for affordability purposes.Warning:
Must have evidence of 3 years earnings.Value:
Yes
Criteria Policy Notes:
Bath Building Society uses Equifax
Criteria description:
Indicates if we use Equifax as a credit reference agency when assessing applications.Value:
Yes
Criteria Policy Notes:
Bath Building Society does use Experian as a credit reference agency when assessing applications.
Criteria description:
Indicates if we use Experian as a credit reference agency when assessing applications.Value:
no
Criteria Policy Notes:
Bath Building Society does not use Transunion (formerly Callcredit) as a credit reference agency when assessing applications
Criteria description:
Indicates if we use Transunion (formerly Callcredit) as a credit reference agency when assessing applications.Value:
No
Criteria Policy Notes:
Bath Building Society does not use credit scoring when assessing applications.
Criteria description:
Indicates if we use 'credit scoring' to assess a client(s) mortgage application usually, at, agreement in principle (AIP) stage.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept applicants that have criminal convictions.
Criteria description:
Indicates if we can potentially accept applicants that have a criminal record.Value:
Acceptable
Criteria Policy Notes:
Remortgages within 6 months of acquisition will be acceptable subject to:
Criteria description:
Indicates if we accept day one remortgage applications. An example of this type of situation would be where an applicant has recently purchased a property at auction for cash and then wishes to release funds by remortgaging the property straight away.Value:
Acceptable
Criteria Policy Notes:
Remortgages within 6 months of acquisition will be acceptable subject to:
Criteria description:
Indicates if we accept remortgage applications from an applicant who has recently inherited the property. For example, James inherited a property today and wishes to remortgage it to raise some funds.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept applicants who have a current/unsatisfied debt management plan.
Criteria description:
Indicates if we can potentially accept an application from an applicant who is currently in a debt management plan.Value:
Acceptable
Criteria Policy Notes:
80% to 95% LTV none accepted in the last 6 years. 70% to 80% LTV, must be satisfied for over 2 years, up to 70% LTV, must be satisfied for over 1 year.
Criteria description:
Indicates if we can potentially accept an application from an applicant who has previously had a debt management plan that is now satisfied.Value:
Yes
Criteria Policy Notes:
Bath Building Society can ignore debts being repaid, subject to proof of funds.
Criteria description:
Indicates if, when assessing affordability, we are able to potentially ignore debts that an applicant is intending to repay on or before completion of the new mortgage.Value:
Yes
Criteria Policy Notes:
Anything ending within 6 months or under can be ignored.
Criteria description:
Indicates if, when assessing affordability, we are able to potentially ignore (in part or in full) loans that are coming to an end (typically 6 months or less to run).Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept applicants with a current payday loan.
Criteria description:
Indicates if we can potentially accept an application from an applicant who is currently in a payday loan credit agreementValue:
Acceptable
Criteria Policy Notes:
Bath Building Society can accept applicants with previous payday loans as long as all payday loans have been satisfied for 12 months.
Criteria description:
Indicates if we can potentially accept an application from an applicant who has had a payday loan in the past but is not currently in a payday loan credit agreement.Warning:
None within the last 12 months.Value:
Acceptable
Criteria Policy Notes:
80% to 95% LTV none accepted in the last 6 years. 70% to 80% LTV, must be satisfied for over 2 years, up to 70% LTV, must be satisfied for over 1 year
Criteria description:
Indicates if we can consider an applicant with a satisfied debt relief orderValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider applicants that have had Defaults registered more than 12 months ago and less than 24 months ago.
Criteria description:
Indicates if we can potentially accept applicants that have had any Defaults registered more than 12 months ago and less than 24 months ago. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.Value:
Potentially Acceptable
Criteria Policy Notes:
Available up to 70% LTV - Maximum £2,500 registered over 2 years.
Criteria description:
Indicates if we can potentially accept applicants that have had any Defaults registered more than 24 months ago and less than 36 months ago. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider applicants that have had Defaults registered more than 3 months ago and less than 12 months ago.
Criteria description:
Indicates if we can potentially accept applicants that have had any Defaults registered more than 3 months ago and less than 12 months ago. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider applicants that have had Defaults registered in the past 3 months.
Criteria description:
Indicates if we can potentially accept applicants that have had any Defaults registered in the past 3 months. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.Value:
Not Ignored
Criteria Policy Notes:
Available up to 70% LTV - Maximum £2,500 registered over 2 years.
Criteria description:
Indicates if we can potentially ignore Defaults that were registered more than 36 months ago. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.Value:
3 years
Criteria Policy Notes:
80% to 95% LTV satisfied for 6 years. 70% to 80% LTV satisfied over 3 years, up to 70% LTV satisfied for 2 years.
Criteria description:
Indicates if we can accept discharged bankrupts and if so how long a client has to have been discharged for. For example, Mr Smith was made bankrupt 7 years ago and was discharged one year later so has been discharged for 6 years.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society is unable to accept applications on the Discount Market Scheme
Criteria description:
Indicates if we can consider an application on the Discount Market SchemeValue:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend to EU Nationals with a ‘pre-settled status’ under the EU Settlement Scheme
Criteria description:
Indicates if we can potentially consider applications from EU Nationals with a ‘pre-settled status’ under the EU Settlement SchemeValue:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend to EU Nationals with a ‘settled status' under the EU Settlement Scheme
Criteria description:
Indicates if we can potentially consider applications from EU Nationals with a ‘settled status’ under the EU Settlement SchemeValue:
36
Criteria Policy Notes:
We will accept zero hours contracts providing they have a 3 year track record and they are still employed at the time of application.
Criteria description:
Indicates if we can consider income from a zero hours contract and if so what is the minimum requirement (in MONTHS) that the applicant must have held the position for.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider Additional Duty Hours as an acceptable source of income for affordability purposes.
Criteria description:
Displays if we will accept Additional Duty Hours as an acceptable source of income for affordability purposes.Warning:
We will use 100% if guaranteed and 50% if regular but non guaranteed.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept additional responsibility allowance as an income type.
Criteria description:
Displays if we will accept Additional Responsibility Allowance as an acceptable source of income for affordability purposes.Warning:
Can accept if the employer confirms this is guaranteed and permanent.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept annual bonus as an income type. We will use 100% of guaranteed bonus/commission and 50% of regular but non guaranteed bonus/commission.
Criteria description:
Indicates if we can accept annual bonus as an allowable income type for affordability purposes.Warning:
We will use 100% of guaranteed bonus/commission and 50% of regular but non guaranteed bonus/commission.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept half yearly bonus as an income type. We will use 100% of guaranteed bonus/commission and 50% of regular but non guaranteed bonus/commission.
Criteria description:
Indicates if we can accept half-yearly bonus as an allowable income type for affordability purposes.Warning:
We will use 100% of guaranteed bonus/commission and 50% of regular but non guaranteed bonus/commission.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept monthly bonus as an income type. We will use 100% of guaranteed bonus/commission and 50% of regular but not guaranteed bonus/commission.
Criteria description:
Indicates if we can accept monthly bonus as an allowable income type for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept quarterly bonus as an income type.
Criteria description:
Indicates if we can accept quarterly bonus as an allowable income type for affordability purposes.Warning:
We will accept 100% of guaranteed bonus/commission or 50% of regular but not guaranteed bonus/commission.Value:
Acceptable
Criteria Policy Notes:
Acceptable to Bath Building Society. If its a perk of the job we will take 100% of this otherwise we will take 50%
Criteria description:
Indicates if we can accept car allowance as an allowable income type for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept annual commission as an income type.
Criteria description:
Indicates if we can accept annual commission as an acceptable source of income for affordability purposes.Warning:
We will accept 100% of guaranteed bonus/commission and 50% of regular but non guaranteed bonus/commission.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept half yearly commission as an income type. We will accept 100% of guaranteed bonus/commission and 50% of regular but non guaranteed bonus/commission.
Criteria description:
Indicates if we can accept half-yearly commission as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept monthly commission as an income type. We will accept 100% of guaranteed bonus/commission and 50% of regular but non guaranteed bonus/commission.
Criteria description:
Indicates if we can accept monthly Commission as an acceptable source of income for affordability purposes.Warning:
We will accept 100% of guaranteed bonus/commission and 50% of regular but non guaranteed bonus/commission.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept quarterly commission as an income type. We will accept 100% of guaranteed bonus/commission and 50% of regular but non guaranteed bonus/commission.
Criteria description:
Indicates if we can accept quarterly commission as an acceptable source of income for affordability purposes.Warning:
We will accept 100% of guaranteed bonus/commission and 50% of regular but non guaranteed bonus/commission.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept employers housing allowance as an income type.
Criteria description:
Indicates if we can accept Employers Housing Allowance as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society does accept employers mortgage subsidy as an income type.
Criteria description:
Indicates if we can accept Employers Mortgage Subsidy as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept employment income from a Family Business as an income type. Acceptable subject to company accountant confirming the income. Pay slips would need to match entries into their bank account. The society may also request full accounts.
Criteria description:
Indicates if we can accept Employment Income from Family Business as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider Flight Pay as an acceptable source of income for affordability purposes.
Criteria description:
Displays if we will accept Flight Pay as an acceptable source of income for affordability purposes.Warning:
Please refer to lender.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept foreign currency as an income type.
Criteria description:
Indicates if we can accept Foreign currency as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
acceptable to Bath Building Society
Criteria description:
Indicates if we can accept Large Town Allowance as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept London weighting as an income type.
Criteria description:
Indicates if we can accept London Weighting as an acceptable source of income for affordability purposes.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept mileage allowance as an acceptable source of income for affordability purposes.
Criteria description:
Indicates if we are able to potentially accept mileage allowance an applicant receives from his/her employer as part of the affordability assessment.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept overtime (less than monthly) as an income type. We will accept 100% of guaranteed overtime and 50% of regular but non guaranteed overtime.
Criteria description:
Indicates if we can accept overtime which is paid less frequently than monthly (for example quarterly) as an acceptable source of income for affordability purposes.Warning:
We will accept 100% of guaranteed overtime and 50% of regular but non guaranteed overtime.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept weekly or monthly overtime as an income type. We will accept 100% of guaranteed overtime and 50% of regular but non guaranteed overtime.
Criteria description:
Indicates if we can accept monthly or less overtime as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept parental/maternity leave pay (back to work salary) as an income type. We can accept 100% of normal pay, subject to confirmation from employer regarding return to work salary. Will also need to see a level of savings in the background to support any shortfall of income throughout maternity.
Criteria description:
Indicates if we can accept the client's full salary when they return to work after Parental/Maternity leave pay.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept salary paid in cash as an income type.
Criteria description:
Indicates if we can accept salary paid in cash as an allowable income type for affordability purposes. For example, Mr Jones works as a fruit picker on the local farm and is paid weekly in cash.Value:
Acceptable
Criteria Policy Notes:
Up to 100% of income from a second job can be considered subject to sustainability by underwriting.
Criteria description:
Indicates if we can accept income from a second job as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept shift allowance as an income type.
Criteria description:
Indicates if we can accept Shift Allowance as an acceptable source of income for affordability purposes.Warning:
We will use 100% if guaranteed, or 50% if regular but non guaranteed.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider Standby / Call Out as an acceptable source of income for affordability purposes.
Criteria description:
Displays if we will accept Standby / Call Out as an acceptable source of income for affordability purposes.Warning:
Refer to lenderValue:
Acceptable
Criteria Policy Notes:
Refer to lender.
No set criteria on this.
Criteria description:
Indicates if we can accept Supply Teacher income as an acceptable source of income for affordability purposes.Warning:
Refer to lender.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not consider tronc payments (tips etc) when assessing affordability.
Criteria description:
Indicates if we can potentially consider tronc payments (Tips etc) as an allowable income type when assessing affordability on residential applications.Value:
Treated as Self Employed
Criteria Policy Notes:
Bath Building Society can potentially use income from CIS contractors but would treat the applicants as self-employed so would take an average on the last 2 years income.
Criteria description:
Indicates how we assesses CIS contractor income which will either be on a self employed basis or based on the CIS vouchersValue:
24 months
Criteria Policy Notes:
Fixed term contracts required a minimum 24 months track record with a minimum of 6 months remaining.
Criteria description:
Indicates if we have a general 'minimum contracting experience requirement' threshold for contractors that must be met in order for their income to be considered.Value:
Treated as Self Employed weeks
Criteria Policy Notes:
We would use an average of the last 2 years.
Criteria description:
Indicates how we assess contractor income which will either be on a self-employed basis or based on the contractor's day rate indicated by a weekly multiplier. For example 'Lender A' will calculate a contractor's income based on the weekly amount * 48 where '48' indicates the weekly multiplier and 'Lender B' will treat them as self-employed and income will be assessed in line with their self-employed policy.Value:
20000
Criteria Policy Notes:
Bath Building Society allows contractors, subject to 24 month history and minimum 6 months left to run.
Criteria description:
Indicates if we have a minimum income requirement for contractor applicants and if so what it is.Value:
6
Criteria Policy Notes:
Bath Building Society will consider contractors with 6 months to run. A 24 month contract history must be provided.
Criteria description:
Indicates if we can consider an applicant on a contract and if so what is the minimum requirement (in MONTHS) that the applicant must have to remain on their current contract.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider income from an applicant who takes unpaid prolonged breaks from employment with their existing employer
Criteria description:
Indicates if we are able to potentially accept a situation whereby someone is employed but takes an unpaid break from employment for a period greater than what would constitute a holiday. For example, John works 9 months of the year in an office job but in June, July and August each year he takes 3 months off in order to pursue other things (for example a seasonal second job or charity work). After the break, he returns to his office job.Value:
12 months
Criteria Policy Notes:
12 months continuous employment required.
Criteria description:
Specifies if there is a minimum number of months (if so how many) employed applicants must have been continuously employed for their income to be considered in affordability.Value:
1 months
Criteria Policy Notes:
At least the first month's pay must be evidenced in the bank and first month's payslip. We do not accept income from applicants currently in probation, and the applicant must have 12 months continuous employment history.
Criteria description:
Specifies if there is a minimum length of time a person must have been in their current job and if so how many months.Value:
Acceptable
Criteria Policy Notes:
Subject to confirmation from employer and payslip prior to completion.
Criteria description:
Indicates if we can potentially use an applicants salary for a job they have yet to start when assessing affordability.Value:
Acceptable
Criteria Policy Notes:
Subject to confirmation from employer and payslip prior to completion.
Criteria description:
Indicates if we can potentially accept an applicants salary who are set to get a pay rise in the near future. For example, Sally is currently earning a salary of £20,000 but this will be increasing to £22,000 in a couple of months.Value:
Acceptable
Criteria Policy Notes:
Subject to condition within offer that probation has completed prior to drawdown
Criteria description:
Specifies if we will allow a clients income to be considered for affordability if they are in a probationary period.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on leasehold properties where an escalating ground rent clause exists.
Criteria description:
Indicates if we can potentially lend on residential applications for leasehold properties that have an escalating ground rent clause.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider lending on freehold properties where exists an estate charge for the general upkeep and maintenance of any shared areas.
Criteria description:
Indicates if we can potentially lend on residential applications for freehold properties where 'Estate Rent Charge' clauses exist.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider an application on an ex MOD property
Criteria description:
Indicates if we can consider lending on an ex MOD propertyWarning:
Please refer to lender.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept residential applications from expat applicants
Criteria description:
Indicates if we can potentially consider residential applications from expatriate applicants.Value:
Not Offered
Criteria Policy Notes:
Bath Building Society will not consider Family assist 100% mortgages
Criteria description:
Indicates if we can potentially consider Family assist 100% mortgagesValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not accept applicants that are financially associated with persons that have adverse credit.
Criteria description:
Indicates if we can potentially accept residential applications from an applicant who is financially associated with someone who has adverse credit.Value:
95 percentage
Criteria Policy Notes:
Bath Building Society can consider 95% LTV on New Build Flats
Criteria description:
Indicates the maximum potential loan to value (LTV) we can accept where the property type is a NEW BUILD flat or NEW BUILD maisonette.Value:
95 percentage
Criteria Policy Notes:
Bath Building Society can consider 95% LTV on Flats/ maisonettes
Please note we do not lend on converted office premises.
Criteria description:
Indicates the maximum potential loan to value (LTV) we can accept where the property type is a flat or maisonette and it is NOT considered a new build.Value:
15
Criteria Policy Notes:
Accepts flying freehold up to a maximum gross floor area of 15%.
Criteria description:
Indicates the maximum percentage of gross floor area the flying freehold part covers that can be considered by usWarning:
Agreed on a case by case basis.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not lend to Foreign Nationals living overseas.
Criteria description:
Indicates if we can potentially consider applications from foreign nationals living overseas who wish to obtain a residential mortgage here in the UK. For example, a Chinese applicant who does not live or work in the UK who wants to purchase property here in the UK on a residential basis as he wants a residence in the UK (perhaps for his family to reside).Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept applications from foreign nationals that DO NOT HAVE indefinite leave to remain
Criteria description:
Indicates if we are potentially able to accept applications from foreign nationals that DO NOT have indefinite leave to remain.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can consider applications from foreign nationals WITH indefinite leave to remain
Criteria description:
Indicates if we are potentially able to accept applications from foreign nationals that DO HAVE indefinite leave to remain.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider applicants that have recurring gambling transactions
Criteria description:
Indicates if we can potentially consider applicants with recurrent gambling transactions on residential applicationsValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society is unable to consider a Green Mortgage application
Criteria description:
Indicates if we can potentially accept a Green Mortgage application.Value:
Acceptable
Criteria Policy Notes:
Now treated as JBSP
Criteria description:
Indicates if we accept guarantor applications.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider a reverse guarantor application
Criteria description:
Indicates if we can potentially consider a reverse guarantor application. A reverse guarantor application is where the guarantor is younger than the applicant. This typically might occur when a son or daughter wishes to help their parents.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider a guarantor application where significant income growth is not expected
Criteria description:
Indicates if we can potentially accept a guarantor application where the applicant is not expecting significant income growth in the futureValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept remortgage applications where the Help to Buy Equity Loan will remain in place.
Criteria description:
Indicates if we are able to potentially accept remortgage applications where a Help to Buy Equity Loan exists and will continue to exist on completion of the remortgage.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept remortgage applications where the Help to Buy Equity Loan will remain in place.
Criteria description:
Indicates if we are able to potentially consider remortgage applications with an element of capital raising where there exists a help to buy equity loan and it will continue to exist on completion of the remortgage.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not offer the Help to Buy scheme.
Criteria description:
Indicates if we can accept Help to Buy Wales applications.Value:
does not take part in Help to Buy Equity Loan
Criteria Policy Notes:
Criteria description:
Indicates if we will take the 'Equity Loan' portion as a commitment for affordability assessment and if so at what rate of interest is it calculated.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept applicants that are named on the CIFAS register.
Criteria description:
Indicates if we can potentially accept residential applications from an applicant that is on the CIFAS register and if so, what time must have passed in order for us to potentially accept a new mortgage application from the customer.Value:
95 percentage
Criteria Policy Notes:
Bath Building Society can consider 95% LTV on New Build Houses
Criteria description:
Indicates the maximum potential loan to value (LTV) we can accept where the property type is a NEW BUILD house/bungalow.Value:
95 percentage
Criteria Policy Notes:
95%
Criteria description:
Indicates the maximum potential loan to value (LTV) we can accept where the property type is a house or bungalow and it is NOT considered a new build.Value:
5.0
Criteria Policy Notes:
Income £0-£50k joint = 4.5 x income
Income £50k plus = 5 x income
Criteria description:
Indicates the maximum income multiple that cannot be exceeded when assessing how much joint applicants are able to borrow. This is the maximum potential income multiple and should just be used as a guide as other factors may reduce this figure.Warning:
Annual debt outgoings are first deducted from annual income for this calculation.Value:
5.0
Criteria Policy Notes:
Income £0-£50k joint = 4.5 x income
Income £50k plus = 5.0 x income
Criteria description:
Indicates the maximum income multiple that cannot be exceeded when assessing how much single applicants are able to borrow. This is the maximum potential income multiple and should just be used as a guide as other factors may reduce this figure.Warning:
Annual outgoings on debt will first be deducted from gross income.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society do not accept applicants income that is made up primarily of benefits.
Criteria description:
Indicates if we can potentially accept income where it is primarily made up of benefits. An example of this would be where benefit income exceeds earned income or represents more than 50% of total income.Value:
Acceptable
Criteria Policy Notes:
80% to 95% LTV satisfied for 6 years. 70% to 80% LTV satisfied over 3 years, up to 70% LTV satisfied for 2 years.
Criteria description:
Indicates if we can potentially consider an application from an applicant who has previously had an Individual Voluntary Arrangement (IVA) registered against them.Value:
3 years
Criteria Policy Notes:
80% to 95% LTV satisfied for 6 years. 70% to 80% LTV satisfied over 3 years, up to 70% LTV satisfied for 2 years
Criteria description:
Indicates if we can potentially consider borrowers who have had an IVA and if so how many years it must have been satisfied for. An IVA is satisfied when the payment plan has been completed. For example, a home buyer is looking to obtain a mortgage to fund a house purchase but entered into an IVA 6 years ago which consisted of a 5-year plan to repay the agreed amount to their creditors. The plan was successfully completed without any unsatisfactory conduct so their IVA has now been satisfied for 1 year.Value:
3 years
Criteria Policy Notes:
80% to 95% LTV satisfied for 6 years. 70% to 80% LTV satisfied over 3 years, up to 70% LTV satisfied for 2 years.
Criteria description:
Indicates if we can potentially consider borrowers who have had an IVA and if so how many years ago it must have been registered. An IVA is registered when a payment plan is agreed with the creditors. For example, a home buyer is looking to obtain a mortgage to fund a house purchase but entered into an IVA 6 years ago which consisted of a 5-year plan to repay the agreed amount to their creditors. The plan was successfully completed without any unsatisfactory conduct so their IVA has now been satisfied for 1 year and was registered 6 years ago.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider an application from an inter-family sale with no discount being offered
Criteria description:
Indicates if we can consider an inter-family application with no discount being offeredValue:
No Minimum
Criteria Policy Notes:
Bath Building Society has minimum equity requirement of 30% for interest only lending. If the repayment vehicle is sale of property, the minimum equity required is £200k or the price of a 2 bed terraced price within a 30 minute drive of the property - whichever is greater.
Criteria description:
Indicates if we can potentially accept interest-only lending and if so do we have a minimum equity requirement for interest-only lending.Value:
20000
Criteria Policy Notes:
Bath Building Society has a minimum income requirement for interest only lending of £20,000 after deductions.
Criteria description:
Indicates if we can potentially accept interest-only lending and if so do we have a minimum income requirement for interest-only lending.Value:
No
Criteria Policy Notes:
Bath Building Society does not accept interest only where the repayment vehicle is annual lump sum repayments.
Criteria description:
Indicates if we can potentially accept interest-only lending and if so are we able to accept interest-only applications where the repayment vehicle is the borrowers intention to make periodic lump sum reductions from savings, bonus payments, sale of assets and the like.Value:
Yes
Criteria Policy Notes:
Bath Building Society accepts interest only where the repayment vehicle is an existing endowment or ISA.
Criteria description:
Indicates if we can potentially accept interest-only lending and if so are we able to accept interest-only applications where the repayment vehicle is from the proceeds of an existing endowment or ISA.Warning:
Acceptable by referral. For endowments; guaranteed death benefit must be at least the amount of the mortgage, and the mid-range maturity value must be projected to either equal or exceed the loan amount.Value:
Yes
Criteria Policy Notes:
Bath Building Society potentially accepts interest only where the repayment vehicle is sale of other assets.
Criteria description:
Indicates if we can potentially accept interest-only lending and if so are there any other acceptable assets that we could potentially accept as an acceptable means of repaying an interest-only mortgage. This does not include the standard repayment method like sale of mortgage property, sale of other property, endowments, ISAs, pensions and the other standard methods of repayment.Warning:
Refer in all circumstances.Value:
Yes
Criteria Policy Notes:
Bath Building Society accepts interest only where the repayment vehicle is proceeds of a pension lump sum. Defined Contribution schemes: Projected value of lump sum at retirement based on the mid-range projection rate must exceed the loan amount. Defined Benefit Schemes: Projection of value of lump sum at retirement must exceed the loan amount.
Criteria description:
Indicates if we can potentially accept interest-only lending and if so are we able to accept interest-only applications where the repayment vehicle is intended to be the proceeds from a pension lump sum.Value:
No
Criteria Policy Notes:
Bath Building Society does not accept pure interest only where there is no repayment vehicle.
Criteria description:
Indicates if we can potentially accept interest-only lending and if so are we able to potentially accept mortgage applications on an interest-only basis where there is no repayment method (pure interest only).Value:
Acceptable
Criteria Policy Notes:
Bath Building Society accepts interest only where the repayment vehicle is sale of the mortgaged property.
Criteria description:
Indicates if we can potentially accept interest-only lending and if so is 'sale of the mortgaged property' an acceptable repayment method on residential mortgages.Warning:
Must have sufficient equity to purchase a 2 bed house within a 30 minute drive or £200,000, whichever is greater.Value:
Yes
Criteria Policy Notes:
Bath Building Society accepts interest only where the repayment vehicle is sale of other owned mortgaged property.
Criteria description:
Indicates if we can potentially accept interest-only lending and if so is the sale of another mortgaged property (Not the security property) an acceptable repayment vehicle for residential interest-only lending.Warning:
UK properties only. Sufficient equity required to cover the full mortgage capital sum.Value:
Yes
Criteria Policy Notes:
Bath Building Society accepts interest only applications where the repayment vehicle is sale of other owned unencumbered property.
Criteria description:
Indicates if we can potentially accept interest-only lending and if so are we able to accept interest-only applications where the repayment vehicle is the sale of another mortgage-free property (Not the security property).Warning:
UK properties only. Sufficient equity required to cover the full mortgage capital sum.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept investment income (not rent) as an income type.
Criteria description:
Indicates if we can accept Investment Income (not rent) as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept rental income from mortgage free properties as an income type.
Criteria description:
Indicates if we can accept Rental Income (from a mortgage-free property) as an acceptable source of income for affordability purposes.Warning:
Must be declared on 3 years SA302s.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept rental income from mortgaged properties as an income type.
Criteria description:
Indicates if we can accept Rental Income (from a mortgaged property) as an acceptable source of income for affordability purposes.Warning:
Must be declared for at least 3 years. We will deduct mortgage finance costs from taxable income to arrive at rental figure we can use.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept trust income as an income type.
Criteria description:
Indicates if we can accept Trust Income as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
If Japanese Knotweed or any other invasive species is identified within 7 meters of the property, the valuer will categorize the risk. Category A & B will require a specialist report but may still be accepted subject to a suitable eradication program being in a place with a member of the Property Care Association (PCA) with an insurance-backed warranty. Category C & D pose no risk and are acceptable under normal terms.
Criteria description:
Specifies if we are able to potentially accept applications where there is evidence of Japanese knotweed at the property or near the property.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept applications on a joint application sole occupier basis.
Criteria description:
Indicates if we will accept joint applications where one applicant will NOT reside in the property. For example, a father and son are looking to buy a property together that only the son will live in.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can accept applications on a joint application sole proprietor basis.
Criteria description:
Indicates if we will accept applications from joint borrowers where only ONE applicant will OWN the property. A good example would be a close family member who wants to help increase the borrowing capacity.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept applicants with previous 'Late Payments'. Maximum of 2 within the last 24 months
Criteria description:
Indicates if we can potentially consider applications from applicants who have a history of late payments (NOT REGISTERED AS MISSED) on any credit agreements they hold.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on leasehold properties where no separate management company exists.
Criteria description:
Indicates if we can potentially lend on residential applications for leasehold properties where no separate management company exists.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society is unable to accept ‘no-search indemnity insurance’ for a purchase application
Criteria description:
Indicates if we can potentially accept ‘no-search indemnity insurance’ for a purchase applicationValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society is unable to accept ‘no-search indemnity insurance’ for a remortgage application
Criteria description:
Indicates if we can potentially accept ‘no-search indemnity insurance’ policy for a remortgage applicationValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society is unable to accept a private local authority search for a purchase application
Criteria description:
Indicates if we can potentially accept a private local authority search for a purchase applicationValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society is unable to accept a private local authority search for a remortgage application
Criteria description:
Indicates if we can potentially accept a private local authority search for a remortgage applicationValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not lend on properties in the Channel Islands.
Criteria description:
Indicates if we can potentially consider lending on properties located in the Channel Islands.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society lends on properties in England.
Criteria description:
Indicates if we can potentially consider lending on properties located in England.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not lend on properties on the Isle of Man.
Criteria description:
Indicates if we can potentially consider lending on properties located on the Isle of Man.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society lends on properties on the Isle of Wight.
Criteria description:
Indicates if we can potentially consider lending on properties located on the Isle of WightValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not lend on properties in Northern Ireland.
Criteria description:
Indicates if we can potentially consider lending on properties located in Northern Ireland.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not lend on properties in the Scilly Isles.
Criteria description:
Indicates if we can potentially consider lending on properties located in the Scilly Isles.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society lends on properties in mainland Scotland, and the following Scottish Isles:
Criteria description:
Indicates if we can potentially consider lending on properties located in Scotland.Warning:
Please note that arranging valuations in the Scottish Isles will take longer than usual.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society lends on properties in Wales.
Criteria description:
Indicates if we can potentially consider lending on properties located in Wales.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially allow customers to Consent to Let their existing residential mortgage.
Criteria description:
Indicates if we can potentially allow a customer to Let their existing residential mortgaged property.Warning:
Subject to explanation, please refer.Value:
Acceptable
Criteria Policy Notes:
Acceptable to Bath Building Society
Criteria description:
Indicates if we are potentially able to arrange the new residential mortgage where the existing residential mortgaged property is going to be Let with a different lender.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept Let to Buy applications where looking to convert the existing residential mortgage to a Buy to Let mortgage with us.
Criteria description:
Indicates if we can potentially accept applications to remortgage onto a buy to let basis when the current mortgage is residential. For example, Jack wants to move out of his current residential mortgaged property, remortgage onto a buy to let and purchase a new residential property to live in. This criteria relates to converting the current residential onto a buy to let mortgage.Value:
Acceptable
Criteria Policy Notes:
Our Rent a Room Mortgage is a unique in the fact it allows an individual applicant to increase their borrowing by renting out a room. This is because we will take into account the increased income that the room rental provides and factor this in to increase the overall borrowing.
Criteria description:
Indicates if we can potentially accept applications where there is/will be a lodger residing in the security property.Value:
0.1
Criteria Policy Notes:
The maximum acceptable starting ground rent on all new build leasehold properties will be limited to 0.1 per cent of the property’s value.
Criteria description:
Indicates if we have a maximum threshold, and if so what it is, that the ground rent on a leasehold property cannot exceed measured against the property value. For example, Applicant 'A' is purchasing a leasehold flat valued at £100,000 that has a ground rent payable annually of £100. This ground rent equates to 0.1% of the property value. Lender 'A' has no maximum threshold on ground rents and therefor Applicant 'A' is able to proceed with a mortgage application on this property.Value:
500000
Criteria Policy Notes:
Bath Building Society has a maximum loan size for a Retirement Interest Only (RIO) mortgages of £500,000.
Criteria description:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so what our maximum loan size is for Retirement Interest Only (RIO) applications.Value:
70 percentage
Criteria Policy Notes:
Bath Building Society considers interest only applications up to a maximum loan to value (LTV) of 70%
Criteria description:
Indicates if we can consider Interest Only lending on residential mortgages and if so up to what loan to value (LTV). Take care to check other factors such as:Value:
50
Criteria Policy Notes:
Bath Building Society has a maximum loan to value for Retirement Interest Only (RIO) mortgages on purchases of 50%.
Criteria description:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so what is the maximum loan to value (LTV) for Retirement Interest Only (RIO) purchase applications.Value:
50
Criteria Policy Notes:
Bath Building Society has a maximum LTV for Retirement Interest Only (RIO) mortgages on balance swap remortgages of 50% LTV.
Criteria description:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so what is the maximum loan to value (LTV) for Retirement Interest Only (RIO) remortgage applications where there is no element of capital raising and it is a simple balance swap.Value:
50
Criteria Policy Notes:
Bath Building Society has a maximum LTV for Retirement Interest Only (RIO) mortgages for capital raising remortgages of 50% LTV.
Criteria description:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so what is the maximum loan to value (LTV) for Retirement Interest Only (RIO) remortgage applications where there is additional capital being raised.Value:
2
Criteria Policy Notes:
80% to 95% LTV none accepted in the last 3 years. 70% to 80% LTV - Maximum status 1 in the last 2 years and must be satisfied for at least 12 months, up to 70% LTV - Maximum status 2 in the last 2 years, and must be satisfied for at least 6 months.
Criteria description:
Indicates if we can potentially accept residential applications from an applicant who has mortgage arrears in the past 2 years and if so what is the maximum number of missed payments in the past 2 years that can be accepted.Value:
6
Criteria Policy Notes:
80% to 95% LTV none accepted in the last 6 years. 70% to 80% LTV, Maximum £500 registered in last 3 years, satisfied at application, up to 70% LTV, Maximum £2,500 registered over 2 years ago and still not satisfied.
Criteria description:
Indicates if we can consider residential applications from applicants with previously satisfied CCJs and if so what the maximum allowable number registered against an applicant is. For example, applicant 'A' has 3 previously satisfied CCJs in the past 6 years and Lender 'A' says the maximum number they will allow is 2 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total value and other adverse credit.Value:
0
Criteria Policy Notes:
Available up to 70% LTV - Maximum £2,500 registered over 2 years.
Criteria description:
Indicates if we can consider residential applications from with unsatisfied CCJs and if so what the maximum allowable number registered against an applicant is. For example, applicant 'A' has 3 previously unsatisfied CCJs in the past 6 years and Lender 'A' says the maximum number they will allow is 2 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total value and other adverse credit.Value:
6
Criteria Policy Notes:
80% to 95% LTV none accepted in the last 6 years. 70% to 80% LTV, Maximum £500 registered in last 3 years, satisfied at application. Up to 70% LTV, Maximum £2,500 registered over 2 years ago and still not satisfied.
Criteria description:
Indicates if we can consider residential applications from applicants with previously satisfied Defaults and if so what the maximum allowable number registered against an applicant is. For example, applicant 'A' has 3 previously satisfied Defaults in the past 6 years and Lender 'A' says the maximum number they will allow is 2 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total value and other adverse credit.Warning:
Subject to underwriter review. For any cases with multiple instances of adverse or other policy exceptions, please discuss with your BDM before placing the case with us.Value:
6
Criteria Policy Notes:
Available up to 70% LTV - Maximum £2,500 registered over 2 years.
Criteria description:
Indicates if we can consider residential applications from with unsatisfied Defaults and if so what the maximum allowable number registered against an applicant is. For example, applicant 'A' has 3 previously unsatisfied Defaults in the past 6 years and Lender 'A' says the maximum number they will allow is 2 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total value and other adverse credit.Value:
40 years
Criteria Policy Notes:
40 years is the maximum term for residential mortgages.
Criteria description:
Indicates the maximum term a mortgage can be taken over.Value:
No Maximum
Criteria Policy Notes:
Bath Building Society has no maximum mortgage term for Retirement Interest Only (RIO) mortgages.
Criteria description:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so what is the maximum term for Retirement Interest Only (RIO) applications. Lenders do not have to set a fixed term for the mortgage and so the repayment date can be when the borrower dies or goes into care, as with Lifetime Mortgages.Value:
2
Criteria Policy Notes:
80% to 95% LTV none accepted in the last 6 years. 70% to 80% LTV - Maximum status 1 in the last 2 years, up to 70% LTV - Maximum status 2 in the last 2 years. (Utilities & mobiles ignored up to £250).
Criteria description:
Indicates if we can potentially accept residential applications from an applicant who has unsecured arrears in the past 2 years and if so what is the maximum number of missed payments in the past 2 years that can be accepted.Warning:
Must be currently up to date on the credit search. Subject to underwriter review. For any cases with multiple instances of adverse or other policy exceptions, please discuss with your BDM before placing the case with us.Value:
2500
Criteria Policy Notes:
80% to 95% LTV none accepted in the last 6 years. 70% to 80% LTV, Maximum £500 registered in last 3 years, satisfied at application, up to 70% LTV, Maximum £2,500 registered over 2 years ago and still not satisfied.
Criteria description:
Indicates if we can potentially consider residential applications from applicants with previously satisfied CCJs and if so what the maximum allowable value of all registered against an applicant is. For example, applicant 'A' has 3 previously satisfied CCJs in the past 6 years totaling £1,230 and Lender 'A' says the maximum value they will allow is £500 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total number registered and other adverse credit registered against the applicant.Value:
0
Criteria Policy Notes:
Bath Building Society will not consider applicants with unsatisfied CCJs.
Criteria description:
Indicates if we can consider residential applications from applicants with unsatisfied CCJs and if so what the maximum allowable value of all registered against an applicant is. For example, applicant 'A' has 3 unsatisfied CCJs in the past 6 years totaling £1,230 and Lender 'A' says the maximum value they will allow is £500 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total number registered and other adverse credit registered against the applicant.Value:
2500
Criteria Policy Notes:
80% to 95% LTV none accepted in the last 6 years. 70% to 80% LTV, Max £2,500 Satisfied over 2 years, up to 70% LTV, Maximum £2,500 registered over 2 years ago and still not satisfied.
Criteria description:
Indicates if we can potentially consider residential applications from applicants with previously satisfied Defaults and if so what the maximum allowable value of all registered against an applicant is. For example, applicant 'A' has 3 previously satisfied Defaults in the past 6 years totaling £1,230 and Lender 'A' says the maximum value they will allow is £500 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total number registered and other adverse credit registered against the applicant.Value:
2500
Criteria Policy Notes:
Available up to 70% LTV - Maximum £2,500 registered over 2 years.
Criteria description:
Indicates if we can potentially consider residential applications from applicants with unsatisfied Defaults and if so what the maximum allowable value of all registered against an applicant is. For example, applicant 'A' has 3 unsatisfied Defaults in the past 6 years totaling £1,230 and Lender 'A' says the maximum value they will allow is £500 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total number registered and other adverse credit registered against the applicant.Value:
100+ percentage
Criteria Policy Notes:
We dont have a maximum as longs as it fits income multipliers and affordability
Criteria description:
Indicates the maximum potential debt to income (DTI) ratio we might accept. For example, an applicant has outstanding unsecured debts of £26,000 and a salary of £40,000. Therefore their DTI is 65%. This criteria indicates if we have a maximum and if so what it is.Value:
4
Criteria Policy Notes:
4 applicants allowed
Criteria description:
Indicates the maximum number of applicants able to go on a mortgage application.Value:
2
Criteria Policy Notes:
Further income can be used at underwriter discretion
Criteria description:
Indicates how many applicants we can factor into the affordability calculation.Value:
6
Criteria Policy Notes:
6 floors maximum with lift access, 4 with no lift access.
Criteria description:
Indicates the maximum number of stories we can consider when lending on ex-local authority high rise flats.Warning:
At least 75% of the block must be privately owned for this to be acceptable.Value:
6
Criteria Policy Notes:
Maximum 6 stories but anything over 4 stories need to be lift-served.
Criteria description:
Indicates the maximum number of stories we can consider when lending on high rise flats.Warning:
However, this is not applicable to period city center properties in Scotland.Value:
4
Criteria Policy Notes:
Bath Building Society will only consider flats with no lift access up to 4 storeys
Criteria description:
Indicates the maximum number of storeys we can consider when lending on flats when there is no lift access.Value:
20000
Criteria Policy Notes:
Bath Building Society has a minimum income requirement of £20,000 after deductions
Criteria description:
Indicates if we have a minimum income requirement for residential mortgage applications and if so what it is.Value:
0
Criteria Policy Notes:
Bath Building Society can consider applicants secondary employment subject to sustainability by underwriting
Criteria description:
Indicates if we can consider income from secondary employment and if so what is the minimum requirement (in MONTHS) that the applicant must have held the position for.Value:
50000
Criteria Policy Notes:
Bath Building Society has a minimum loan size of £50,000.
Criteria description:
Indicates the minimum loan size (if there is one) that we accept for new applications.Value:
50000
Criteria Policy Notes:
Bath Building Society offers Retirement Interest Only (RIO) mortgages from £50,000.
Criteria description:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so what the minimum loan requirement for Retirement Interest Only (RIO) applications is.Value:
75
Criteria Policy Notes:
Bath Building Society requires a minimum of 75% under private ownership in a block of ex-local authority flats.
Criteria description:
Indicates if we can potentially lend on a ex-local authority flat/apartments and if so is there a minimum percentage in the block that must be privately owned.Value:
100000
Criteria Policy Notes:
Our minimum property value is £100,000.
Criteria description:
Indicates if we have a minimum property value we require for new applications.Value:
100000
Criteria Policy Notes:
Bath Building Society has a minimum property value requirement of £100,000 for Retirement Interest Only (RIO) mortgages.
Criteria description:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so if we have a minimum property value requirement.Value:
5 years
Criteria Policy Notes:
5 years
Criteria description:
Indicates the minimum term a mortgage can be taken over.Value:
No Minimum
Criteria Policy Notes:
Bath Building Society has no minimum requirement for how long an applicant needs to have been an owner occupier.
Criteria description:
Indicates if we have a minimum requirement that an applicant must have been an owner occupier for (in MONTHS) in order to be considered for a residential mortgage.Value:
0 months
Criteria Policy Notes:
Let to buy purposes we can consider straight away
Criteria description:
Indicates the minimum period (in months) any background properties that are Let or to be Let must have been Let for before they can potentially be discounted from a commitment point of view for affordability purposes.Value:
50 years
Criteria Policy Notes:
Interest Only must have a minimum of 80 years at the end of the mortgage term, repayment must have a minimum of 50 years
Criteria description:
Indicates the minimum required lease remaining at the date of application we can potentially accept. For example,Value:
50 years
Criteria Policy Notes:
50 years unless the application is on I/O, if the case is I/O we would require 80 years left at the end of the mortgage term.
Criteria description:
Indicates the minimum required lease remaining at the end of the mortgage term we can potentially accept. For example, Alex is looking to purchase a flat which currently has a remaining lease term of 90 years and wishes to take out a mortgage over 20 years. Therefore his remaining lease at the end of the mortgage term will be 70 years (90-20=70).Value:
36
Criteria Policy Notes:
80% to 95% LTV none accepted in the last 3 years. 70% to 80% LTV - Maximum status 1 in the last 2 years and must be satisfied for at least 12 months, up to 70% LTV - Maximum status 2 in the last 2 years, and must be satisfied for at least 6 months.
Criteria description:
Indicates if we can potentially ignore mortgage arrears that are historic and if so at what point they can potentially be ignored when assessing residential mortgage applications.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept AEDIS as an acceptable new build warranty
Criteria description:
Indicates if AEDIS is an acceptable new build warranty to us on new build properties.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept Build Assure as an acceptable new build warranty.
Criteria description:
Indicates if Build Assure is an acceptable new build warranty to us on new build properties.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept Building Life Plans as an acceptable new build warranty.
Criteria description:
Indicates if Building Life Plans is an acceptable new build warranty to us on new build properties.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society accepts Buildzone as an acceptable new build warranty.
Criteria description:
Indicates if Buildzone is an acceptable new build warranty to us on new build properties.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept CRL Management Ltd as an acceptable new build warranty.
Criteria description:
Indicates if CRL Management Ltd is an acceptable new build warranty to us on new build properties.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept Checkmate (castle 10) as an acceptable new build warranty.
Criteria description:
Indicates if Checkmate (Castle 10) is an acceptable new build warranty to us on new build properties.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept Global Home Warranties as an acceptable new build warranty.
Criteria description:
Indicates if Global Home Warranties is an acceptable new build warranty to us on new build properties.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society accepts ICW as an acceptable new build warranty
Criteria description:
Indicates if we can potentially accept ICW as an acceptable new build warrantyValue:
Acceptable
Criteria Policy Notes:
Bath Building Society accepts LABC as an acceptable new build warranty.
Criteria description:
Indicates if LABC is an acceptable new build warranty to us on new build properties.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society accepts NHBC as an acceptable new build warranty.
Criteria description:
Indicates if NHBC Guarantee is an acceptable new build warranty to us on new build properties.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society accepts Premier Guarantee Scheme as an acceptable new build warranty.
Criteria description:
Indicates if Premier Guarantee Scheme is an acceptable new build warranty to us on new build properties.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society accepts Professional Consultants Certificate as an acceptable new build warranty.
Criteria description:
Indicates if Professional Consultants Certificate is an acceptable new build warranty to us on new build properties.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept Protek as an acceptable new build warranty.
Criteria description:
Indicates if Protek is an acceptable new build warranty to us on new build properties.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept Q Assure Build as an acceptable new build warranty.
Criteria description:
Indicates if Q Assure Build is an acceptable new build warranty to us on new build properties.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society accepts Zurich Municipal "New Build" as an acceptable new build warranty.
Criteria description:
Indicates if Zurich Municipal "New Build" is an acceptable new build warranty to us on new build properties.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider an application for a new build purchase 'off plan'
Criteria description:
Indicates if we can potentially consider an application for a new build purchase 'Off-Plan'. Buying new build property off-plan means you agree to purchase a property before the property is built or sometimes before construction has even started.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept non simultaneous sale and purchase. Subject to circumstance, please refer.
Criteria description:
Indicates if we can potentially accept a situation (on a residential basis) whereby an applicant is not selling their related sale property on the same day as the onward purchase. For example, this situation might arise when there is a deadline on a new build purchase and the sale is not quite ready to complete resulting in a non-simultaneous sale and purchase.Warning:
Subject to circumstance, please refer.Value:
1
Criteria Policy Notes:
We underwrite all cases manually
Criteria description:
Indicates the number of credit reference agencies we may use during the entire application process.Value:
180 days
Criteria Policy Notes:
All offers are valid for 6 months
Criteria description:
Displays the number of days a NEW BUILD mortgage offer is valid for.Warning:
Please note that if/when an offer does expire we will re-offer subject to re-assessment of the case and on whatever rates are applicable at the time.Value:
180 days
Criteria Policy Notes:
Bath Building Society mortgage offers for standard remortgage cases are valid for a period of 6 months
Criteria description:
Displays the number of days a standard REMORTGAGE mortgage offer is valid for in DAYS.Warning:
Please note that if/when an offer does expire we will re-offer subject to re-assessment of the case and on whatever rates are applicable at the time.Value:
180 days
Criteria Policy Notes:
Bath Building Society has an offer expiry time of 6 month or standard mortgage offers.
Criteria description:
Displays the number of days a STANDARD mortgage offer is valid for.Warning:
Please note that if/when an offer does expire we will re-offer subject to re-assessment of the case and on whatever rates are applicable at the time.Value:
No
Criteria Policy Notes:
Bath Building Society does not offer offset mortgages.
Criteria description:
Indicates if we offer residential offset mortgages (subject to product availability).Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept bursaries as an income type.
Criteria description:
Indicates if we can accept Bursary as an acceptable source of income for affordability purposes.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept foster income as an income type.
Criteria description:
Indicates if we can accept foster care income as an allowable income type for affordability purposes. For example, Mr & Mrs Jones receive £20,000 per year in foster care income and wish to apply for a mortgage based upon this income.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not accept Income protection/Permanent Health Insurance as an income type.
Criteria description:
Indicates if we can potentially accept Income protection/Permanent Health Insurance as an income type.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can accept lodger income as an income type providing it is shown on tax returns
Criteria description:
Displays if we will potentially accept lodger income as an acceptable source of income for affordability purposes.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept maintenance (not through the courts or CSA) as an income type.
Criteria description:
Indicates if we can accept maintenance that is by verbal agreement between the separating parties as an acceptable source of income for affordability purposes. Specifically, maintenance that is not via court order, CSA assessment or similar.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept maintenance (through the courts) as an income type.
Criteria description:
Indicates if we can accept Maintenance (through the courts) as an acceptable source of income for affordability purposes.Warning:
100% used, subject to evidence it will continue for at least 5 years.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider Seafarer income as an allowable income type
Criteria description:
Indicates if we can consider Seafarer income as an allowable income typeValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept stipends as an income type.
Criteria description:
Indicates if we can accept stipend as an allowable income type for affordability purposes.Value:
20 percentage
Criteria Policy Notes:
20% without incurring any charges
Criteria description:
Indicates the amount you can usually overpay (subject to product availability) without penalty.Value:
Accounts / SA302
Criteria Policy Notes:
Bath Building Society will assess partners in professional partnership LLPS the same as we assess Self-Employed applicants when assessing income.
Criteria description:
Indicates how a partner, in a professional Limited Liability Partnerships income, will be assessed.Value:
24 months
Criteria Policy Notes:
Bath Building Society has a minimum length of time in the partnership of 24 months.
Criteria description:
Indicates the minimum length of time (IN MONTHS) a person must have been in the Limited Liability Partnership (LLP) for their income to be considered by us.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept annuities as an income type.
Criteria description:
Indicates if we can accept an annuity as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider Company Pension as an acceptable source of income for affordability purposes.
Criteria description:
Displays if we will accept Company Pension as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept pension (war disablement) as an income type.
Criteria description:
Indicates if we can accept Pension - War Disablement as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept pension (war widower) as an income type.
Criteria description:
Indicates if we can accept Pension - War Widower as an acceptable source of income for affordability purposes.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept pension credits as an income type.
Criteria description:
Indicates if we can accept Pension Credit as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept private pension as an income type.
Criteria description:
Indicates if we can accept Private Pension as an acceptable source of income for affordability purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider self administered drawdown pension income. We will use 4% of the pension pot
Criteria description:
Indicates if we can consider income from a self-administered drawdown pension.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept income from a Self-invested Personal Pension (SIPPs)
Criteria description:
Indicates if we can consider income from a Self-invested Personal Pension (SIPPs)Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept state pension as an income type.
Criteria description:
Indicates if we can accept State Pension as an acceptable source of income for affordability purposes.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider an applicant that is classed as a politically exposed person.
Criteria description:
Indicates if we can potentially accept residential applications from an applicant that is considered a politically exposed person.Value:
Yes
Criteria Policy Notes:
Bath Building Society mortgages are portable as standard.
Criteria description:
Indicates if our mortgages are usually portable as standard.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider an applicant from someone acting as a power of attorney.
Criteria description:
Indicates we can potentially accept residential applications from an applicant that is acting with Power of Attorney.Value:
Not Acceptable years
Criteria Policy Notes:
Bath Building Society does not accept applicants that have been previously repossessed.
Criteria description:
Indicates if we can accept applicants that have previously had a property repossessed and if so how many years ago we require the repossession to have taken place.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept professional landlords who wish to use rental income as their primary income source, Affordability would be based on an average of the latest 2-years full tax returns.
Criteria description:
Indicates if we can potentially accept professional landlords where their primary income source is from the rent from their portfolio. For example, Jess wants to obtain a mortgage and her only source of income (or her main source of income) is derived from the rent she receives from her portfolio of rental properties.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider an application from a professional gambler
Criteria description:
Indicates if we can potentially consider an application from a professional gambler on residential applicationsValue:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties where Asbestos is identified.
Criteria description:
Indicates if we can potentially lend on a property where there is evidence of asbestos present.Warning:
Bath Building Society can potentially lend on properties where Asbestos is identified but will be assessed on a case by case basis.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider an application on a property with occupancy restrictions.
Criteria description:
Indicates if we can consider lending on a property with occupancy restrictionsWarning:
Please refer to the lender. We will likely put a LTV cap on the case.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not lend on 100% timber construction properties.
Criteria description:
Indicates if we are able to potentially accept 100% timber construction properties - this is NOT the same as timber-framed.Value:
Yes
Criteria Policy Notes:
Bath Building Society may require BOPAS accreditation for non-standard construction where the construction type is acceptable to us
Criteria description:
Indicates if BOPAS accreditation is required for non-standard construction where the non-standard construction type is acceptable to usValue:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties where the construction type is British Iron and Steel Federation (BISF) must be build post 1987
Criteria description:
Indicates if we can potentially consider properties where the construction type is British Iron and Steel Federation (BISF)Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not lend on concrete construction properties.
Criteria description:
Indicates if we are able to potentially accept concrete construction properties.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider an application on a converted church
Criteria description:
Indicates if we can potentially consider an application on a converted churchValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not lend on cornish construction properties.
Criteria description:
Indicates if we can potentially consider properties where the construction type is CornishValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on Dutch Barn properties
Criteria description:
Indicates if we can potentially consider Dutch Barn propertiesValue:
Yes
Criteria Policy Notes:
Bath Building Society will not lend on properties with combustible cladding or materials on balconies without a EWS1 form
Criteria description:
Indicates if we require an EWS1 certificate for properties with combustible cladding or materials on balconiesValue:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on easiform construction properties.
Criteria description:
Indicates if we are able to potentially accept Easiform construction properties.Warning:
Subject to valuers comments.Value:
Acceptable
Criteria Policy Notes:
Accepts flying freehold up to a maximum gross floor area of 15%. Agreed on a case by case basis.
Criteria description:
Indicates if we can potentially accept properties where there exists a flying freehold.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties where the construction type is Insulating concrete form (ICF)
Criteria description:
Indicates if we can potentially consider properties where the construction type is Insulating concrete form (ICF)Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on properties where the construction type is Large Panel System (LPS)
Criteria description:
Indicates if we can potentially consider properties where the construction type is Large Panel System (LPS)Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties where the roof is majority flat roof.
Criteria description:
Indicates if we are potentially able to accept applications on properties that have majority flat roof. We classify 'majority' as anything over 50%.Warning:
Subject to valuer's comments.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties where the construction type is modern method of construction (MMC).
Criteria description:
Indicates if we can potentially accept applications on properties where the construction type is Modern method of construction (MMC).Warning:
Subject to valuers commentsValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not lend on properties where the construction type is modular and POD construction.
Criteria description:
Indicates if we can potentially consider lending on a property where the construction type is 'Modular' or 'POD'.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties where the construction type is mundic block.
Criteria description:
Indicates if we can potentially accept applications on properties where the construction type is Mundic block.Warning:
Subject to valuers comments and a petrographic testValue:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties where the construction type is no-fines.
Criteria description:
Indicates if we can potentially accept applications on properties where the construction type is No-Fines.Warning:
Subject to valuers comments.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not lend on properties that are constructed of non repaired prefabricated reinforced concrete.
Criteria description:
Indicates if we can potentially accept NON repaired prefabricated reinforced concrete as suitable security for lending purposes.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties where the construction type is Off site manufactured (MMC)
Criteria description:
Indicates if we can potentially consider properties where the construction type is Off site manufactured (MMC)Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on a Potton Home property
Criteria description:
Indicates if we can potentially consider Potton Home propertiesValue:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties that are constructed of repaired prefabricated reinforced concrete.
Criteria description:
Indicates if we can potentially accept repaired prefabricated reinforced concrete as suitable security for lending purposes.Warning:
Subject to valuers comments.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on single skin properties
Criteria description:
Indicates if we can potentially consider single skin propertiesValue:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties built after 1987.
Modern steel framed house must have BBA or WIMLAS certification.
Criteria description:
Indicates if we can potentially accept steel framed properties as suitable lending security.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties where the construction type is Structural Insulated Panel Solutions (SIPs). Subject to being BOPAS accredited.
Criteria description:
Indicates if we can potentially consider properties where the construction type is Structural Insulated Panel Solutions (SIPs)Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on thatched roof properties.
Criteria description:
Indicates if we can potentially accept properties that have any element of a thatched roof.Warning:
Subject to valuer's comments.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on timber framed properties.
Criteria description:
Indicates if we can potentially accept timber framed properties.Warning:
Modern (post 1970) timber frame acceptable with brick/block/stone/render exterior. Pre-1970 can be considered, subject to a full structural survey.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider lending on properties that are a timber frame construction dating between 1900 to 1970 subject to a full structural survey.
Criteria description:
Indicates if we can potentially lend on a property that is of Timber-Framed construction built between 1900 to 1970 for residential applications.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider lending on properties that are a timber frame construction dated post 1970.
Criteria description:
Indicates if we can potentially lend on a property that is of Timber-Framed construction built after 1970 for residential applications.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on properties that are a timber frame construction dating pre 1900.
Criteria description:
Indicates if we can potentially lend on a property that is of Timber-Framed construction built prior to 1900 for residential applications.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on flats in a tower block that has cladding. Will require an EWS1 form.
Criteria description:
Indicates if we can potentially consider lending on a property in a tower block with claddingValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on a wholly timbered property
Criteria description:
Indicates if we can potentially consider wholly timbered propertyValue:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on a woolaway property
Criteria description:
Indicates if we can potentially consider a woolaway propertyWarning:
If repaired with the benefit of NHBC or Zurich warranty.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider properties that are situated on contaminated land.
Criteria description:
Indicates if we can potentially lend on properties that are on contaminated land.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on properties that are close to a mine shaft.
Criteria description:
Indicates if we can potentially lend on a property that is close to a mine shaft for residential applications.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties that border class A1 commercial premises.
Criteria description:
Indicates if we can potentially lend on a property where it borders Class A1 commercial premises. Class A1 businesses are shops and retail.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties that border class A2 commercial premises.
Criteria description:
Indicates if we can potentially lend on a property where it borders Class A2 commercial premises. Class A2 businesses are professional services.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on properties that border class A3 commercial premises.
Criteria description:
Indicates if we can potentially lend on a property where it borders Class A3 commercial premises. Class A3 businesses are for food and drink.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on properties that border class A4 commercial premises.
Criteria description:
Indicates if we can potentially lend on a property where it borders Class A4 commercial premises. Class A4 businesses are drinking establishments.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on properties that border class A5 commercial premises.
Criteria description:
Indicates if we can potentially lend on a property where it borders Class A5 commercial premises. Class A5 businesses are hot food and takeaway.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on properties that border class B commercial premises.
Criteria description:
Indicates if we can potentially lend on a property where it borders Class B commercial premises. Class B businesses are considered further business and industrial activities.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on properties that border class C commercial premises.
Criteria description:
Indicates if we can potentially lend on a property where it borders Class C commercial premises. Class C businesses are considered hotels, hostels and dwelling houses.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on properties that border class D commercial premises.
Criteria description:
Indicates if we can potentially lend on a property where it borders Class D commercial premises. Class D businesses are considered non-residential institutions. Examples are museums, day nurseries, libraries.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on properties that border class 'Sui Generis' commercial premises.
Criteria description:
Indicates if a lender can potentially lend on a property where it borders Sui Generis commercial premises.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties that have overhead power lines running above them. If the line do not run directly over the property we can potentially consider a case.
Criteria description:
Indicates if we can potentially lend on properties that have overhead power lines running above them.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties that have been part renovated that are likely to be considered habitable by a surveyor. Subject to valuers comments. If the applicants have their own fund to complete the renovation.
Criteria description:
Indicates if we can potentially lend on properties that are 'part renovated' but are in fact considered habitable by a surveyor.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society can't lend on properties that have been part renovated that are likely to be considered NOT habitable by a surveyor.
Criteria description:
Indicates if we can potentially lend on properties that are 'part renovated' and considered non-habitable by a surveyor.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on properties that have been underpinned in the last 10 years.
Criteria description:
Indicates if we can potentially lend on properties that have been underpinned in the last 10 years.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider a property with an Overage Clause
Criteria description:
Indicates if we can potentially consider a property with an Overage ClauseValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on properties that are subject to a possessory title.
Criteria description:
Indicates if we can potentially lend on residential applications for properties that only have possessory title.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider a property with shared access or shared services.
Criteria description:
Indicates if we can potentially consider a property with shared access or shared servicesWarning:
PLEASE NOTE WE CANNOT CONSIDER SHARED ACCESS WITH FAMILY MEMBERSValue:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider an application where the splitting of a title deed will take place on completion
Criteria description:
Indicates if we can potentially consider an application where the splitting of a title deed will take place on completionValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider joint applications where the property ownership will be as tenancy in common with unequal shares.
Criteria description:
Indicates if we can potentially lend on residential applications on properties where the joint ownership is set up on a tenants in common basis where each owner has an unequal share. For example, Applicant 'A' owns 70% of the property and Applicant 'B' owns 30%.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on properties that are owned by a trust.
Criteria description:
Indicates if we can potentially lend on residential applications for properties that are owned by a trust.Value:
30
Criteria Policy Notes:
Bath Building Society can lend on studio flats that are bigger than 30 sqms
Criteria description:
Indicates the area in square metres required when lending on studio flats.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on a basement flat
Criteria description:
Indicates if we can potentially lend on a basement flatValue:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on coach houses
Criteria description:
Indicates if we can potentially consider a coach house propertyValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not lend on commonhold properties.
Criteria description:
Indicates if we can potentially lend on commonhold properties.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society lend on ex local authority flats or maisonettes.
Criteria description:
Indicates if we are potentially able to lend on ex-local authority flats/maisonettes.Warning:
More than 75% of the block must be privately owned.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society lend on ex local authority houses and bungalows.
Criteria description:
Indicates if we are potentially able to lend on ex-local authority houses/bungalows.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on farmhouses where farmhouse and land are contiguous.
Criteria description:
Indicates if we are potentially able to lend on farmhouses where the farmhouse and land are contiguous.Warning:
Subject to no business use or agricultural restrictions on the land.Value:
Not Acceptable
Criteria Policy Notes:
Case by case basis we will look at. Fast food outlets, betting shops not acceptable. Other commercial outlets considered
Criteria description:
Indicates if we are able to potentially accept flats above a commercial food outlet.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on flats above commercial offices.
Criteria description:
Indicates if we can potentially accept flats that are above commercial offices.Warning:
Must be self-contained with private entrance and no access via external walkways. We will not lend above licensed premises, fast food outlets or betting shops.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not lend on flats above pubs.
Criteria description:
Indicates if we can potentially accept flats that are above a pub.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on flats/apartments that are above a shop that is not a food outlet.
Criteria description:
Indicates if we are able to potentially accept flats above a shop that is NOT a food outlet.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not lend on freehold flats and maisonettes within England and Wales.
Criteria description:
Indicates if we can potentially accept a flat or maisonette where the tenure is freehold.Value:
Acceptable
Criteria Policy Notes:
Refer to lender. Assessed on a case by case basis
Criteria description:
Indicates if we can potentially consider lending on property classified as a Grade 1 Listed Building. Categories of listed buildings in England & Wales: Grade I: buildings of exceptional interest. Grade II*: particularly important buildings of more than special interest. Grade II: buildings that are of special interest, warranting every effort to preserve them.Value:
Acceptable
Criteria Policy Notes:
Refer to lender.
Assess on a case by case basis
Criteria description:
Indicates if we can potentially consider lending on property classified as a Grade 2 Listed Building. Categories of listed buildings in England & Wales: Grade I: buildings of exceptional interest. Grade II*: particularly important buildings of more than special interest. Grade II: buildings that are of special interest, warranting every effort to preserve them.Warning:
Refer to lender.Value:
Acceptable
Criteria Policy Notes:
Refer to lender. Assessed on a case by case basis
Criteria description:
Indicates if we can potentially consider lending on property classified as a Grade 2* Listed Building. Categories of listed buildings in England & Wales: Grade I: buildings of exceptional interest. Grade II*: particularly important buildings of more than special interest. Grade II: buildings that are of special interest, warranting every effort to preserve them.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not lend on mobile homes and houseboats.
Criteria description:
Indicates if we are potentially able to lend on mobile homes and houseboats.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can lend on studio flats that are bigger than 30 sqms
Criteria description:
Indicates if we can potentially lend on studio flats.Value:
60 percentage
Criteria Policy Notes:
The property must be over 40% residentially occupied, allowing 60% commercial usage. No commercial leases.
Criteria description:
Indicates the limit we can potentially accept where the property usage has an element of commercial use.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not lend on properties with agricultural restrictions.
Criteria description:
Indicates if we can potentially accept properties that have agricultural restrictions.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on residential properties that will continue to be used as a B&B.
Criteria description:
Indicates if we can potentially lend on residential applications for properties that are part used as a B&B (Bed and Breakfast).Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not lend on properties that will remain unoccupied after completion.
Criteria description:
Indicates if we can potentially lend on residential applications for properties that will be empty/unoccupied following completion.Value:
Acceptable
Criteria Policy Notes:
We will consider it on a case-by-case basis as a 2nd property for the customer's own use up to a maximum of 80% LTV.
Criteria description:
Indicates if we can potentially accept applications on properties that are to be used as a second or holiday home.Value:
80 percentage
Criteria Policy Notes:
80% maximum LTV considered on 2nd homes.
Criteria description:
If we lend on holiday/second homes, specifies what is the maximum loan to value we can lend when the property usage is second or holiday home.Warning:
Will be subject to underwriter referral. Contact your BDM.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society does lend on properties where the property usage is home for a dependant.
Criteria description:
Indicates if we can potentially accept applications on properties that are classed as a home for a dependant.Value:
80
Criteria Policy Notes:
Bath Building Society does lend on properties where the property usage is home for a dependant. Up to 80% LTV
Criteria description:
If we lend on homes for dependants, indicates the maximum loan to value (LTV) we can consider.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not lend on properties that are deemed live/work units.
Criteria description:
Indicates if we can potentially accept applications on properties defined as Live/Work units.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties that have mixed use commercial/residential. Subject to underwriting. Please call to discuss specific case. Maximum 50% LTV
Criteria description:
Indicates if we are able to potentially lend on properties that are classified as mixed use for both residential occupation and commercial use.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can consider an application where the property will be purchased at auction
Criteria description:
Indicates if we can potentially consider an application where the property will be purchased at auctionValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not lend on properties with spray foam insulation.
Criteria description:
Indicates if we can potentially consider properties where there is spray foam insulationWarning:
Subject to valuer's comments.Value:
Acceptable
Criteria Policy Notes:
Acceptable to Bath Building Society subject to valuer's comments and stated use by applicants.
Criteria description:
Indicates if we can potentially accept applications on properties that contain a self-contained annex within the grounds of the property.Value:
Acceptable
Criteria Policy Notes:
over 55 to 65 acceptable. Maximum 60% LTV
Criteria description:
Indicates if we are able to potentially accept applications from applicants who are looking to purchase a property that has an age restriction. For example, Mr Jones is looking to purchase a retirement apartment that can only be occupied by people who are at least 55 years of age.Warning:
age 75 usually not accepted but speak to the BDM for further detailsValue:
Acceptable
Criteria Policy Notes:
Acceptable to Bath Building Society, subject to valuer's comments - income generated by annex will not be used for affordability.
Criteria description:
Indicates if we can potentially consider lending against a property that has an Annex and the Annex will be Let.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties that have a section 106 restrictive covenant.
Criteria description:
Indicates if we are able to potentially accept applications on properties that are subject to a Section 106 restrictive covenant.Warning:
LTV will be based on restricted re-sale value.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties with acreage.
Criteria description:
Indicates if we are potentially able to accept properties that have a significant amount of land (properties that have acreage).Warning:
Subject to no business use or agricultural restrictions, and a maximum of 10 acres.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not lend on properties with deck access.
Criteria description:
Indicates if we can potentially accept properties that have deck access.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend on properties that have more than one kitchen.
Criteria description:
Indicates if we are able to potentially accept an application where the security property has more than one kitchen. This is not the same as a property split into two or more units or a House of Multiple Occupation (HMO).Warning:
Subject to plausibility and referral.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider remortgage residential applications for owner occupation on properties where the existing mortgage is a Buy to Let.
Criteria description:
Indicates if we can potentially allow a residential remortgage application for owner occupation where the existing mortgage is on a Buy to Let basis.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not allow capital raising on a remortgage where the purpose of the funds is for business purposes.
Criteria description:
Indicates if we can potentially consider lending when the reason for capital raising is considered for 'Business Related Purposes'.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can consider remortgage applications with capital raising to carry home improvements on a property other than the security property. This would be agreed by exception
Criteria description:
Indicates if we will allow capital raising for the purpose of home improvements on a property which is NOT the security property on residential applications.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not allow capital raising on a remortgage where the purpose of the funds is for payment of a tax bill.
Criteria description:
Indicates if we can potentially consider lending when the reason for capital raising is to raise funds to pay a tax bill.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider remortgage applications with capital raising to purchase a commercial property.
Criteria description:
Indicates if we will allow capital raising for the purpose of purchasing commercial property on residential applications.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider remortgage applications with capital raising to purchase a property overseas.
Criteria description:
Indicates if we will allow capital raising for the purpose of purchasing overseas property on residential applications.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can consider remortgage applications with capital raising to repay a Help to Buy equity loan in full.
Criteria description:
Indicates if we will allow capital raising for the purpose of repaying (IN FULL) their Help to Buy Equity Loan to take their ownership to 100% on residential applications.Value:
100
Criteria Policy Notes:
Bath Building Society does consider capital raising in order to staircase to 100%.
Criteria description:
Indicates if we will allow capital raising for the purpose of staircasing to 100% ownership on residential applications that are currently a shared ownership property.Value:
70 percentage
Criteria Policy Notes:
70% max ltv for £ 4 £ re-mortgage
Criteria description:
Indicates the maximum loan to value (LTV) we can accept where the remortgage purpose is a simple balance swap (no additional monies being raised).Value:
70 percentage
Criteria Policy Notes:
70% LTV
Criteria description:
Indicates the maximum loan to value (LTV) we can accept where the remortgage purpose is to raise funds to buy out a partner or other borrower.Value:
70 percentage
Criteria Policy Notes:
70% ltv maximum
Criteria description:
Indicates the maximum loan to value (LTV) we will accept when the reason for capital raising is to raise funds to fund or part-fund a buy to let purchase.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider remortgage applications with capital raising for a BTL property where a property is not yet found
Criteria description:
Indicates if we can potentially consider remortgage applications with capital raising for a BTL property where the property has not yet been found. Essentially they want to put themselves in the position of a cash buyer with the funds accessible ready for when they find their property.Value:
70 percentage
Criteria Policy Notes:
The Society will only accept applications for debt consolidation subject to:
Criteria description:
Indicates the maximum loan to value (LTV) we will accept where there is an element of debt consolidation on a remortgage application. For example, Trevor owns a property that is worth £200,000 and has a current outstanding balance of £140,000. He would like to consolidate an unsecured loan which has an outstanding balance of £10,000 and therefore needs a total loan of £150,000 giving him a LTV of 75%.Warning:
Loans for applicants who are trading down, retaining the same level of borrowing but taking equity to clear debt will be classified as debt consolidation. Advances will not be considered for clearing gambling debts, tax liabilities or mortgage arrears.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider capital raising on a remortgage where the purpose of the funds is extending a lease
Criteria description:
Indicates if we can potentially consider capital raising on a remortgage where the purpose of the funds is extending a leaseValue:
70 percentage
Criteria Policy Notes:
Subject to product maximum.
Criteria description:
Indicates if we are able, and if so to what loan to value, accept remortgages where the purpose is to raise money to make a gift (for example to children to help with school fees etc or where parent(s) might want to help their children buy their first home).Value:
70 percentage
Criteria Policy Notes:
Subject to product maximum.
Criteria description:
Indicates if we are able to and if so to what loan to value, accept remortgages where the purpose is to raise money for home improvements.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider remortgage applications with capital raising for 'Land Purchase'.
Criteria description:
Indicates if we will allow capital raising for the purpose to purchase land and if so up to what loan to value for residential applications.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider capital raising on a remortgage where the purpose of the funds is lifestyle (holidays, car's, non-essential spending etc)
Criteria description:
Indicates if we can potentially consider capital raising on a remortgage where the purpose of the funds is lifestyle (holidays, car's, non essential spending etc)Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider capital raising on a remortgage where the purpose of the funds is medical expenses
Criteria description:
Indicates if we can potentially consider capital raising on a remortgage where the purpose of the funds is medical expensesValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider capital raising on a remortgage where the purpose of the funds is personal investments
Criteria description:
Indicates if we can potentially consider capital raising on a remortgage where the purpose of the funds is personal investmentsValue:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider capital raising on a remortgage where the purpose of the funds is education or school fees
Criteria description:
Indicates if we can potentially consider capital raising on a remortgage where the purpose of the funds is education or school feesValue:
6 months
Criteria Policy Notes:
6 months
Criteria description:
Indicates the number of months we state a person must have owned a property before it can be considered for a remortgage application. For example, John purchased a property at auction 3 months ago and now wishes to remortgage the property to raise some funds.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider applications on properties that have a restricted sale price clause. We can potentially consider these clauses if the restriction falls away if we had to take the property into repossession.
Criteria description:
Indicates if we can potentially offer a residential mortgage on a property that has a 'Restricted Sale Price' clause.Value:
No
Criteria Policy Notes:
Bath Building Society will not ignore small suggested retentions and if one is made a retention will be made regardless of retention amount.
Criteria description:
Indicates if we will ignore valuers small suggested retentions below a certain figure. For example, a lender might ignore any suggestions that are for £2,000 or less.Value:
Yes
Criteria Policy Notes:
Bath Building Society can potentially offer better lending terms where a 'Lasting Power of Attorney' exists. We offer a better interest rate when lasting power of attorney is in place.
Criteria description:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so if we can offer enhanced terms (better interest rate, etc) if a 'Lasting Power of Attorney' is in place before completion of the proposed mortgage.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society won't consider benefit income as part of its ongoing affordability assessment.
Criteria description:
Where a joint application is taken lenders will assess the future means of affordability of the surviving borrower following the death of another applicant. This criteria indicates if we offer RIO mortgages and if so, can consider benefit income when assessing their ability to maintain the ongoing mortgage.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society won't consider family assistance as part of its ongoing affordability assessment.
Criteria description:
Where a joint application is taken lenders will assess the future means of affordability of the surviving borrower following the death of another applicant. This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so can we consider family assistance when assessing their ability to maintain the ongoing mortgage.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society won't consider investment income as part of its ongoing affordability assessment.
Criteria description:
Where a joint application is taken lenders will assess the future means of affordability of the surviving borrower following the death of another applicant. This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so can we consider investment income when assessing their ability to maintain the ongoing mortgage.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society won't consider projected proceeds of a life policy as part of its ongoing affordability assessment.
Criteria description:
Where a joint application is taken lenders will assess the future means of affordability of the surviving borrower following the death of another applicant. This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so can we consider life cover when assessing their ability to maintain the ongoing mortgage.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society won't consider other non provable or guaranteed income as part of its ongoing affordability assessment.
Criteria description:
Where a joint application is taken lenders will assess the future means of affordability of the surviving borrower following the death of another applicant. This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so can we consider other non-provable income when assessing applicants ability to maintain the ongoing mortgage.Value:
Will be considered
Criteria Policy Notes:
Bath Building Society can potentially consider rental income as part of its ongoing affordability assessment.
Criteria description:
Where a joint application is taken lenders will assess the future means of affordability of the surviving borrower following the death of another applicant. This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so can we consider rental income when assessing an applicants ability to maintain the ongoing mortgage.Value:
Will be considered
Criteria Policy Notes:
Bath Building Society can potentially consider survivors pension income as part of its ongoing affordability assessment.
For joint applications affordability will be calculated on the lower of the two applicants' income plus any spousal entitlement in the event of first death.
Criteria description:
Where a joint application is taken lenders will assess the future means of affordability of the surviving borrower following the death of another applicant. This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so can we consider the survivor's pension when assessing their ability to maintain the ongoing mortgage.Value:
No
Criteria Policy Notes:
Bath Building Society will allow RIO without lasting power of attorney but it is offered with a higher interest rate
Criteria description:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so is it a requirement of Retirement Interest Only (RIO) mortgages that a 'Lasting Power of Attorney' is in place.Value:
Yes
Criteria Policy Notes:
Bath Building Society offers Retirement Interest Only Mortgages (RIO).
Criteria description:
Indicates if we offer 'Retirement Interest Only' mortgages. RIO mortgages are specifically mortgages that can be taken on an interest-only basis with an open-ended mortgage term where the repayment vehicle is typically sale of property on the occurrence of one or more of the specified life events such as the death of either or both borrowers.Value:
No
Criteria Policy Notes:
Bath Building Society won't consider Non-Guaranteed potential future income to demonstrate long term affordability.
Criteria description:
Often times applicants may be in paid employment at the time of application without a guaranteed conventional pension in place for their retirement. They could, however, have other planned methods of generating themselves an income into retirement such as purchasing an annuity with savings or receiving rental income. Whilst this criteria is not specific to those two examples it indicates if we offer Retirement Interest Only (RIO) mortgages and if so ifValue:
No Minimum
Criteria Policy Notes:
No minimum equity as downsizing isn't an acceptable repayment strategy. We will lend up to 50% of the property value.
Criteria description:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so do we have a minimum equity requirement. If the repayment strategy is the sale of the mortgaged property, lenders no longer have to assume, as was the case under the previous MCOB rule, that borrowers will need to downsize. Consequently, they do not need to factor into their criteria any specific minimum equity requirement, as is the case with other interest-only mortgages.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society can not consider retrospective new build warranties.
Criteria description:
Indicates if we can potentially lend on residential applications for properties that have been issued with a retrospective new build warranty. These warranties were specifically not in place during the build phase but taken out at a later date following completion.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not applications from applicants who are returning to the UK and going straight into employment.
Criteria description:
Indicates if we can potentially accept residential applications from an applicant who is returning to the UK and going straight into paid employment. Critically, indicates if a lender will accept an employed applicant (with no current minimum length of time in UK employment) for affordability who is returning from a non UK address to the UK.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not accept applications from applicants who are returning to the UK and going straight into self-employment.
Criteria description:
Indicates if we can potentially accept residential applications from an applicant who is returning to the UK and going straight into Self-Employment. Critically, indicates if a lender will accept a Self-Employed applicant for affordability who is returning from a non UK address to the UK and would essentially have zero UK trading history.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept right to acquire applications.
Criteria description:
Value:
Acceptable
Criteria Policy Notes:
The Society will consider Right to buy applications on houses only.
Criteria description:
Indicates if we accept Right to Buy applications.Warning:
Flats and maisonettes are unacceptable. Max LTV is the lower of 75% of the valuation or 100% of purchase price. England and Wales only, not available in Scotland. All existing tenants must be a party to the mortgage application.Value:
No
Criteria Policy Notes:
Bath Building Society does not accept additional monies being raised at application for home improvements on right to buy applications.
Criteria description:
Indicates if we accept Right to Buy cases can we can potentially accept additional monies being raised for home improvements at the point of the Right to Buy initial purchase.Value:
100 percentage
Criteria Policy Notes:
100% of purchase price accepted
Criteria description:
Indicates if we accept Right to Buy cases, the maximum loan to value (LTV) of the discounted purchase price we will consider for Right to Buy applications. For example, John has the right to buy his council home which has been given an open market value of £100,000 with a discount of £35,000. The discounted purchase price is therefor £65,000.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept additional lending above the discounted price on right to buy applications
Criteria description:
Indicates if we accept Right to Buy cases if we allow a borrower to borrow more than the discounted Right to Buy purchase price to cover other costs and home improvements. For example, John would like to purchase his council home he has been offered for £65,000 which is 100% of the discounted price (£100,000 less a £35,000 discount). He would also like to borrow an additional £5,000 to cover some legal costs and to put in a new kitchen.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept joint application sole occupier on right to buy applications.
Criteria description:
Indicates if we accept Right to Buy cases can we accept a joint application for a Right to Buy application where only one borrower will reside at the property. For example, John wishes to purchase his council home that he has the right to buy on but cannot afford it on his current income. His son has offered to help but has his own separate living arrangements independent from his father. They therefore need to find a lender that would accept a joint application with only one occupier.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider a right to buy remortgage balance swap application within the pre-emption period
Criteria description:
Indicates if we can potentially consider a right to buy remortgage balance swap application within the pre-emption periodValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider a right to buy remortgage capital raising application within the pre-emption period
Criteria description:
Indicates if we can potentially consider a right to buy remortgage capital raising application within the pre-emption periodValue:
Acceptable
Criteria Policy Notes:
Acceptable through Buildstore
Criteria description:
Indicates if we are potentially able to offer self-build mortgages.Value:
1000000
Criteria Policy Notes:
Bath Building Society has a maximum loan size of £1,000,000 (£300,000 for first time buyers) subject to product availability and LTV.
Criteria description:
Indicates the maximum loan size we can consider on self build applicationsWarning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
40
Criteria Policy Notes:
Bath Building Society has a maximum term of 40 years.
Criteria description:
Indicates the maximum term a self build mortgage can be taken over.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept payback of a directors loan as an income that can be used in our affordability assessment.
Criteria description:
Indicates if we can accept repayment of a directors loan as an acceptable source of income for affordability purposes. Often directors will first take back any money they introduced into the business as a directors loan before formally drawing a salary or taking dividends.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept salary and dividends as the primary income used when assessing income from directors of a limited company.
Criteria description:
Indicates if we can accept Salary and Dividends as the components used to assess affordability as opposed to say salary and net profit.Warning:
We require a minimum of 3 years accounts completed.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can accept salary and net profits as the primary income used when assessing income from directors of a limited company.
Criteria description:
Indicates if we can accept Salary and Net Profit as the components used to assess affordability as opposed to say salary and dividends.Warning:
Must demonstrate at least 3 years accounts.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept salary and share of net profits AFTER CORPORATION TAX as the primary income used when assessing income from directors of a limited company.
Criteria description:
Displays if we will use 'Salary and Share of Net Profit AFTER CORPORATION TAX' as the components used to assess affordabiliy as opposed to either 'Salary and Share of Net Profit BEFORE CORPORATION TAX' or 'Salary and Dividends'Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not use salary and share of net profits BEFORE CORPORATION TAX as the primary income used when assessing income from directors of a limited company.
Criteria description:
Displays if we will use 'Salary and Share of Net Profit BEFORE CORPORATION TAX' as the components used to assess affordabiliy as opposed to either 'Salary and Share of Net Profit AFTER CORPORATION TAX' or 'Salary and Dividends'Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept retained profits as an acceptable source of income when assessing affordability.
Criteria description:
Indicates if we can potentially consider retained profits as an allowable income type when assessing affordability on residential applications.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept net profits for sole traders and partnerships when assessing income.
Criteria description:
Indicates if we can accept Net Profit (for sole traders and partnerships) as an acceptable source of income for affordability purposes.Warning:
Must evidence 3 years accounts.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept accounts or accountants certificates from accountants that are not either 'Chartered' or 'Certified'
Criteria description:
Indicates if we will accept accounts or an accountant's certificate from an accountant that does NOT have 'Chartered' or 'Certified' status.Value:
20 percentage
Criteria Policy Notes:
20%
Criteria description:
Indicates the point at which we consider a person as self-employed as opposed to employed when they hold a shareholding in the business. The figure indicates the percentage shareholding required to be considered self-employed and anything less than this figure the applicant will be assessed as employed.Value:
No
Criteria Policy Notes:
Bath Building Society does not accept a projection for the latest years self employed figures for affordability purposes.
Criteria description:
Indicates if we can potentially consider the self-employed applicants latest year figures as a projection from their accountant.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept income from self employed applicants where profits have declined year on year. The last 3 years profit should be used to justify income. Where profits are declining, this can be acceptable subject to Underwriter’s discretion and a fully documented justification.
Criteria description:
Indicates if we can potentially accept a self-employed applicants income where the profits have declined year on year.Warning:
The last 3 years profit should be used to justify income. Where profits are declining, this can be acceptable subject to Underwriter’s discretion and a fully documented justification.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can use the latest years self employed figures where justified by a trend. We will consider 2 years figures to justify lending on the latest year only. Contact your BDM.
Criteria description:
Indicates if we can potentially use the latest years figures exclusively (rather than an average) for affordability assessment.Value:
Yes
Criteria Policy Notes:
Bath Building Society can potentially accept other accounting deductions as income from directors of limited companies for affordability purposes.
Criteria description:
This indicates if we are able to add back in any accounting deductions. For example for a limited company, allowing car allowance and/or pension contributions to be added to overall customers self-employed income.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider income from self-employed applicants who have made a loss in the latest year.
Criteria description:
Indicates if we can potentially consider Self-Employment income from an applicant how has made a loss in their latest year.Value:
18 months
Criteria Policy Notes:
Maximum 18 months old.
Criteria description:
Specifies the max age of the latest company accounts (in months) that we will find acceptable for income proofs for a limited company.Value:
18 months
Criteria Policy Notes:
maximum 18 months old
Criteria description:
Specifies the max age of the latest company accounts (in months) that we will find acceptable for income proofs for a sole trader or partnership.Value:
24 months
Criteria Policy Notes:
Minimum of 2 years accounts.
For light adverse and credit repair mortgages we will require 3 years accounts.
Criteria description:
This is the MINIMUM length of time an applicant must have been self-employed for in order for their income to be considered.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can consider a recent status change if the ownership structure hasn't changed. Must have 2 years accounts overall.
Criteria description:
Indicates if we can consider the income from a self-employed applicant on a residential application where a change in self employed status has recently taken place. For example, where an applicant has been a sole trader for 8 years and has recently converted his business status to a Limited Company but has not been trading long enough as a Limited Company to have sufficient accounts. The applicant would need us to consider their income based upon their historic performance as a sole trader.Value:
Yes
Criteria Policy Notes:
Bath Building Society can potentially accept other accounting deductions as income from sole traders and partnerships for affordability purposes. Certain items can be ‘added back’ to profits with a fully documented justification. Please refer to us before placing the application.
Criteria description:
This indicates if we are able to add back in any accounting deductions. For example for a sole trader, allowing spousal salary and/or use of home as an office to be added to the net profit figure.Warning:
Certain items can be ‘added back’ to profits with a fully documented justification. Please refer to us before placing the application.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider additional borrowing outside of the agreed initial loan amount and stage payment release schedule during the build phase.
Criteria description:
Indicates if we will allow applicants to borrow additional funds during the buildWarning:
All self build applications are to be submitted through Buildloan.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will NOT allow applicants to use existing savings to cover any ongoing mortgage or rental payments so they can be excluded from the affordability assessment.
Criteria description:
Indicates if we will allow applicants savings to cover the monthly rental or mortgage payments during the build rather than included in affordability assessmentWarning:
All self build applications are to be submitted through Buildloan.Value:
Yes
Criteria Policy Notes:
Bath Building Society will apply a dual affordability assessment for self-build mortgages that ensures the mortgage is both affordable during and after the build.
Criteria description:
Indicates if we will complete an affordability assessment during and post buildWarning:
All self build applications are to be submitted through Buildloan.Value:
Yes
Criteria Policy Notes:
Bath Building Society will assess ongoing rent and/or mortgage payments in the affordability assessment for self-build mortgages.
Criteria description:
Indicates if we will include existing monthly rental or mortgage payments into the affordability calculationWarning:
All self build applications are to be submitted through Buildloan.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider self-build applications where all applicants are first time buyers, but will be capped to a £300,000 loan size.
Criteria description:
Indicates if we can potentially consider self build applications where all applicants are First Time Buyers.Warning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
0
Criteria Policy Notes:
Bath Building Society can potentially accept 'DAY ONE' self-build remortgages. Remortgages within 6 months of acquisition will be acceptable subject to:
Criteria description:
Indicates the number of months we state a person must have owned the plot before it can be considered for a remortgage application.Warning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept self-build applications for a barn conversion.
Criteria description:
Indicates if we can accept a self build application for a barn conversionWarning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept self-build applications for conversion.
Criteria description:
Indicates if we will accept an application for converting a commercial property to a residential dwellingWarning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept self-build applications for 'knock down and rebuild'.
Criteria description:
Indicates if we can accept a self build application for a knock down & rebuildWarning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept self-build applications for renovation projects.
Criteria description:
Indicates if a lender can accept a self-build application for a renovation projectWarning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept self-build applications for unfinished and/or mid-build projects.
Criteria description:
Indicates if we can accept a self build application for unfinished/mid-build projectsWarning:
All self build applications are to be submitted through Buildloan.Value:
Yes
Criteria Policy Notes:
Bath Building Society requires applicants to have building regulations approval prior to completion.
Criteria description:
Indicates if we require building regulations approval to be in place prior to completion of a self-build applicationWarning:
All self build applications are to be submitted through Buildloan.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society allows applicants to use their own solicitor/conveyancer.
Criteria description:
Indicates in an applicant can use use their own conveyancer on a self build applicationWarning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider concessionary purchase self-build applications and use the concession as the deposit.
Criteria description:
Indicates if we can accept a concessionary land purchase for self-build applications.Warning:
Providing the correct amount of stamp duty is paid.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept self-build applications for projects that will border other land owned by the applicant.
Criteria description:
Indicates if we will accept a self build application where the surrounding or adjoining land is owned by the applicantWarning:
All self build applications are to be submitted through Buildloan.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept self-build applications for projects that will border other land owned by the applicants family.
Criteria description:
Indicates if we will accept a self build application where the surrounding or adjoining land is owned by the applicants familyWarning:
All self build applications are to be submitted through Buildloan.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept custom self-build schemes offered by builders / developers.
Criteria description:
Indicates if we will accept custom build applications. Custom build homes are self-build properties that are offered in a customised way by a builder / developer . These offer buyers the opportunity to self-build in a more hands off approach to what they would potentially experience when managing the whole process themselves.Warning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
Via packager
Criteria Policy Notes:
Bath Building Society can accept applications for self-build mortgages via Buildloan ONLY.
Criteria description:
Indicates if an adviser can submit a self-build application directly to the lender or is required to go via a packager.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does NOT offer self-build mortgages on builds that will be considered 'Eco builds'.
Criteria description:
Indicates if we will allow a self build application for an eco propertyValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will NOT accept self-build applications where the land or plot has been gifted to the applicant by a person who is NOT a family member.
Criteria description:
Indicates if we can accept a self build application where the land or plot has been gifted to the applicant from a person who is NOT a family memberValue:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept self-build applications where the land or plot has been gifted to the applicant by a family member.
Criteria description:
Indicates if we can accept a self build application where the land or plot has been gifted to the applicant from a family memberWarning:
All self build applications are to be submitted through Buildloan.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept applications that require borrowing against the land.
Criteria description:
Indicates if we will consider an application to lend against the purchase of LandWarning:
Bath Building Society currently offer self-build mortgages exclusively through Buildloan.Value:
No Maximum
Criteria Policy Notes:
Bath Building Society does not have a specific time frame before which the project should commence.
Criteria description:
Indicates the length of time we will accept before works must commence on the buildWarning:
All self build applications are to be submitted through Buildloan. We would expect builds to be completed within 2 years.Value:
95
Criteria Policy Notes:
Bath Building Society specifies that the LTV cannot exceed 95% of the insured amount at the point of each stage release, to a maximum of 85% of the projected final value.
Criteria description:
Indicates if we have a maximum LTV limit at each stage release during the buildWarning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
85
Criteria Policy Notes:
Bath Building Society specifies that the LTV cannot exceed 85% of the projected final end value once the build is complete.
Criteria description:
Indicates the maximum LTV we will consider of the estimated final valueWarning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
95
Criteria Policy Notes:
Bath Building Society specifies that the LTV cannot exceed 95% of the land/plot value or purchase price.
Criteria description:
Indicates the maximum LTV we will consider of the land/plot value or purchase priceWarning:
All self build applications are to be submitted through Buildloan.Value:
5
Criteria Policy Notes:
Bath Building Society specifies the maximum number of stage payments as 5.
Criteria description:
Indicates if we have a maximum amount of stage payments for a self build applicationWarning:
All self build applications are to be submitted through Buildloan.Value:
We do not accept Multi Plot developments
Criteria Policy Notes:
Bath Building Society does NOT offer self-build applications on multi plot sites.
Criteria description:
Indicates the maximum amount of properties/plots we allow in a multi-plot or group developmentValue:
10
Criteria Policy Notes:
Bath Building Society has a maximum plot size of 10 acres.
Criteria description:
Indicates the maximum plot size we can considerWarning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
4
Criteria Policy Notes:
Bath Building Society specifies the minimum number of stage payments as 4.
Criteria description:
Indicates if we have a minimum amount of stage payments for a self build applicationWarning:
All self build applications are to be submitted through Buildloan.Value:
No Minimum
Criteria Policy Notes:
Bath Building Society has no minimum number of months remaining on the planning permission requirement.
Criteria description:
Indicates the minimum number of months we require remaining on planning permission for a self build applicationWarning:
All self build applications are to be submitted through Buildloan.Value:
No Minimum
Criteria Policy Notes:
Bath Building Society has no minimum plot size for self-build applications.
Criteria description:
Indicates the minimum plot size (in Square Metres) we can considerWarning:
All self build applications are to be submitted through Buildloan.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not accept applications from applicants that have more than one pending self-build application in progress with a lender.
Criteria description:
Indicates if we will accept applicants with more than one self build application pendingWarning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will NOT consider self-build applications where the applicant is purchasing a plot as part of a multi-plot development.
Criteria description:
Indicates if we will allow a self build application that is part of a multi-plot or group developmentValue:
Outline Only
Criteria Policy Notes:
Bath Building Society can potentially accept self-build applications with only Outline planning permission.
Criteria description:
Indicates if we require Full or Outline planning permission when submitting a self build applicationWarning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not offer preferential terms on 'Eco Builds'.
Criteria description:
Indicates if we will allow preferential terms for applicants building an eco propertyValue:
Acceptable
Criteria Policy Notes:
Bath Building Society allows any product fees to be added to the advance, as long as it doesn't exceed product LTV limit.
Criteria description:
Indicates if we allow borrowers to add the arrangement fee (where one is payable) to the mortgage advance on a self build applicationWarning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will NOT offer self-build mortgages for Semi-Detached properties.
Criteria description:
Indicates if we will allow a self build application for a semi-detached propertyWarning:
All self build applications are to be submitted through Buildloan.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider self-build applications where the property use will be as a second/holiday home.
Criteria description:
Indicates if we will allow a self build application for second property or holiday home purposesValue:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially (subject to product availability) accept pure interest only during the build phase of a self-build project.
Criteria description:
Indicates on a self build application if we will allow interest only during the buildWarning:
All self build applications are to be submitted through Buildloan.Value:
24
Criteria Policy Notes:
Bath Building Society requires self-build projects to be completed within a 24 month time frame.
Criteria description:
Indicates if we requires the build to be completed in a specific time frameWarning:
All self build applications are to be submitted through Buildloan.Value:
Yes (subject to product availability)
Criteria Policy Notes:
Bath Building Society can potentially (subject to product availability) offer a retention product to the applicant upon successful project completion.
Criteria description:
Indicates if we offer a retention product upon completion of the buildWarning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
Yes
Criteria Policy Notes:
Bath Building Society will usually hold a retention until completion and final sign off of the works.
Criteria description:
Indicates if we will retain a retention until completion of the buildWarning:
All self build applications are to be submitted through Buildloan.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept self-build applications for projects that will have shared access.
Criteria description:
Indicates if we will accept a self build application where there is shared access to the securityWarning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
Flexible Payment Schedule
Criteria Policy Notes:
Bath Building Society can potentially allow a flexible stage payment schedule.
Criteria description:
Indicates if we allow flexible stage payments or we have set stage payments for self build mortgagesWarning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
In Advance
Criteria Policy Notes:
Bath Building Society will release the stage payments in advance.
Criteria description:
Indicates if we make advanced payments or payments in arrears for self build mortgagesWarning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
No
Criteria Policy Notes:
Bath Building Society does NOT charge stage release fees.
Criteria description:
Indicates if a fee payable for each stage release on a self build applicationWarning:
All self build applications are to be submitted through Buildloan.Value:
5
Criteria Policy Notes:
Bath Building Society will usually hold a standard retention of 5% on a self-build case.
Criteria description:
Indicates the retention percentage we will retain until completion of the buildWarning:
All self build applications are to be submitted through Buildloan.Value:
Estimated Final Value
Criteria Policy Notes:
Bath Building Society will assess the valuation fee based upon the projected end value of the property.
Criteria description:
Indicates if we will base the valuation fee on the value of the land or estimated final value of the buildWarning:
All self build applications are to be submitted through Buildloan.Value:
No
Criteria Policy Notes:
Bath Building Society does not require applicants to have any savings of their own for self-build applications, but they must be able to demonstrate an acceptable source of deposit and cash-flow plan including contingency at each stage.
Criteria description:
Indicates if we require the applicant's to contribute their own savings towards the buildWarning:
Bath Building Society offers self-build mortgages exclusively through Buildloan.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not consider Shared Ownership applications.
Criteria description:
Specifies if we can accept shared ownership applications.Value:
We do not accept shared ownership applications percentage
Criteria Policy Notes:
Bath Building Society does not consider Shared Ownership applications.
Criteria description:
Indicates if we offer shared ownership mortgages and if so what is the maximum initial share we permit for a shared ownership case.Value:
Not Acceptable percentage
Criteria Policy Notes:
Bath Building Society does not consider Shared Ownership applications.
Criteria description:
Indicates if we offer shared ownership mortgages and if so what is the maximum loan to value we can lend on the share the applicant is purchasing on a shared ownership basis.Value:
We do not accept shared ownership applications percentage
Criteria Policy Notes:
Bath Building Society does not consider Shared Ownership applications.
Criteria description:
Indicates if we offer shared ownership mortgages and if so what is the minimum share we permit for shared ownership cases.Value:
We do not accept shared ownership applications
Criteria Policy Notes:
Bath Building Society does not consider Shared Ownership applications.
Criteria description:
Indicates if we can potentially consider a shared ownership application with capital raising for home improvementsValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not consider Shared Ownership applications.
Criteria description:
Indicates if we can potentially consider residential applications for Shared Ownership cases that have a restricted staircasing clause.Value:
Not Available
Criteria Policy Notes:
Bath Building Society does not offer Sharia compliant mortgages.
Criteria description:
Indicates if we offer Sharia compliant residential mortgages.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider applications where there will be a simultaneous completion of a second charge.
Criteria description:
Indicates if we can potentially accept a residential application where there will be a simultaneous completion of a second charge.Value:
No (Full Footprint)
Criteria Policy Notes:
Bath Building Society leaves a full/hard search footprint when performing a credit search but this is at full application not DIP.
Criteria description:
Indicates if we will leave a 'soft footprint' when performing a credit search (as opposed to leaving a full/hard footprint on the credit file).Value:
Acceptable
Criteria Policy Notes:
Where the solar panels form part of the freehold of the building this will be acceptable.
Where the solar panels are leased under an ‘airspace lease’ the Solicitor will be required to ensure the lease does not negatively impact on our security
Criteria description:
Indicates if we are able to potentially accept properties that have had solar panels installed.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not allow sole applications for married couples where both wish to reside at the property.
Criteria description:
Indicates if we are able to potentially accept applications in sole names where the applicant is married and the husband or wife will also be residing in the property. For example, a couple may wish to keep their financial affairs separate to avoid any unwanted disputes if they were ever to split which is sometimes common when people remarry.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider applications on a sole application joint proprietor basis
Criteria description:
Indicates if we can potentially consider applications on a sole application joint proprietor basis. This is where a property will be jointly owned but only one person will be named on the mortgage and is distinctly different to the more common Joint Application Sole Proprietor where only one party would own the property but there are two named on the mortgage.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider this type of deposit.
Criteria description:
Indicates if we can potentially accept cryptocurrencies as an acceptable source of deposit.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can accept this builders deposit.
Criteria description:
Indicates if we accept builder gifted deposits as an acceptable source of deposit for new build properties.Warning:
Acceptable providing the applicant puts the same amount of contribution inValue:
Acceptable
Criteria Policy Notes:
Bath Building Society can accept this type of deposit.
Criteria description:
Indicates if we accept applications that are considered a concessionary purchase. Examples of a concessionary purchase are a grandparent selling a property to a grandchild at a genuine discount or a landlord doing the same for a tenant. For example, the property might be worth £150,000 on the open market but the owner is selling it to the buyer for £135,000 with the discount effectively becoming the deposit.Warning:
Stamp duty must be calculated on the full purchase price.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider this type of deposit.
Criteria description:
Indicates if we can potentially accept an equity loan as an acceptable source of deposit.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept this type of deposit.
Criteria description:
Indicates if we accept the forces help to buy scheme as an acceptable source of deposit.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can accept deposits where the source is gift from immediate family.
Criteria description:
Indicates if we accept a gift from an immediate family member as an acceptable source of deposit. Immediate family usually means spouse, parent, grandparent, sibling, child or grandchild but you should check to clarify our specific definition.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept this type of deposit.
Criteria description:
Indicates if we accept a gift from an occupier who will not be named on the mortgage. An example of this situation could be whereby two friends or a couple plan to live together and one of them purchases the property and obtains the mortgage where the other party is providing the deposit (as a gift) but will not be named on the mortgage or jointly own the property.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept this type of deposit.
Criteria description:
Indicates if we accept a gift as a deposit source outside of immediate family members such as a friend, employer or cousin for example.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept this type of deposit.
Criteria description:
Indicates if we accept a loan that is secured against the property as a second charge, no monthly repayments are made and is repayable upon the sale of the property. For example, this situation could arise where parents want to help out a child to purchase a property but do not want to outright gift the money. The parent would place a second charge against the property so that when the property was sold at a later date the loan would be repaid providing there was sufficient equity remaining after any higher ranking charges (a mortgage for example) were repaid.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society is unable to accept deposits where the source is a loan from immediate family. It must be from the applicant's own funds, or a gift from immediate family.
Criteria description:
Indicates if we can accept a loan from an immediate family member as an acceptable source of deposit.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept the deposit source where it's from the proceeds of a mortgage on additional property
Criteria description:
Indicates if we accept monies raised from the mortgage of an additional property as an acceptable source of deposit. For example, Mr & Mrs Smith want to purchase a new home to live in. The purchase price is £200,000 and they are looking to put down a £50,000 deposit. Their deposit is being raised against another property they own which is Let.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept this type of deposit.
Criteria description:
Indicates if deposits that have originated outside of the European Economic Area (EEA) as an acceptable source of deposit to us.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept a redundancy payment as an acceptable source of deposit.
Criteria description:
Indicates whether or not we will accept a redundancy payment as an acceptable source of depositWarning:
Subject to them having a new job that meets our criteria at point of application.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept the deposit source where it is the repayment of Ltd company directors loan
Criteria description:
Indicates if we accept the repayment of a limited company directors loan as an acceptable source of deposit. For example, Tom has a limited company that he personally put some money into when setting the company up. He now wishes to take that money back out of the company and use it to fund his deposit.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept this type of deposit.
Criteria description:
Indicates whether or not we will accept borrowers source of deposit as a loan. For example, a person is looking to put down a 5% deposit and borrow a 95% mortgage. The 5% deposit is a bank loan.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially accept the deposit source where it's a vendor gifted deposit.
Criteria description:
Indicates if we accept vendor gifted deposits as an acceptable source of deposit. (NOT builder gifted deposit for new build properties). For example, John is looking to purchase a property an estate agent is selling and the current owner (not related to the buyer) has offered to help with a deposit by way of a gift.Warning:
Underwriting referral requiredValue:
Allowed
Criteria Policy Notes:
Bath Building Society can offer mortgages with split term durations
Criteria description:
Indicates if we can potentially consider an application with a split term. For example, an applicant wishes to take one part of their mortgage over 25 years and another part over 10 years. An example of when this might be useful is where the applicant has agreed to repay money back to a parent who lent them some money to get startedValue:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially lend to applicants who are considered 'Sports Professionals'.
Criteria description:
Indicates if we can potentially accept applications from sports professionals and if so how they are treated and assessed.Warning:
Subject to referralValue:
Yes
Criteria Policy Notes:
Bath Building Society can ignore mobile phone and utility arrears up to a max of £250 below 80% LTV
Criteria description:
Indicates if we can potentially ignore telecommunications adverse credit on residential applications.Value:
Yes
Criteria Policy Notes:
Bath Building Society can potentially offer mortgages on a transitional arrangement basis.
Criteria description:
Indicates if we can potentially offer mortgages on a transitional arrangement as defined by the FCA under MCOB 11.8Warning:
Please refer.Value:
Acceptable
Criteria Policy Notes:
Bath Building Society can potentially consider a property with unadopted roads
Criteria description:
Indicates if we can potentially consider a property with unadopted roadsValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society does not accept applicants that have recently had unauthorized overdraft charges
Criteria description:
Indicates if we are able to potentially accept applicants who have recently been charged for an unauthorised overdraft (either by exceeding their overdraft limit or by simply going overdrawn if they do not have an agreed overdraft limit). These unauthorised overdraft charges will likely appear on the client's recent bank statements.Value:
Acceptable
Criteria Policy Notes:
Please refer the case with full details. Agreed on a case by cases basis.
Criteria description:
Indicates if we are able to potentially accept applications where the transaction constitutes an undervalue transaction.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider applicants that hold a family visa.
Criteria description:
Indicates if we can potentially consider applicants who hold a Family Visa. Types of Family Visas are spouse or partner, fiancé, fiancée or proposed civil partner, child, parent or relative who’ll provide long-term care for you.Value:
We do not lend to foreign nationals on a visa
Criteria Policy Notes:
Bath Building Society will not consider an applicant on a visa
Criteria description:
Indicates if we can consider an applicant on a visa and if so what is the minimum requirement (in MONTHS) that the applicant must have remaining on residential applicationsValue:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider applicants that hold a 'Tier 1' working visa.
Criteria description:
Indicates if we can potentially accept an application from an applicant that holds a Working Tier 1 Visa. These visas can be issued to Entrepreneurs, Exceptional Talents, Graduate Entrepreneurs, and Investors.Value:
Not Acceptable
Criteria Policy Notes:
Bath Building Society will not consider applicants that hold a 'Tier 2' working visa.
Criteria description:
Indicates if we can potentially accept an application from an applicant that holds a Working Tier 2 Visa. These visas can be issued to General workers who've been offered a skilled position in the UK, Intra-company Transfers, Ministers of Religion and Sportspersons.This section is for use by professional Intermediaries only.
If you are a customer, please visit our Mortgages section.
