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Bath University financial education workshop to support UK Savings Week

We had a great morning at the University of Bath to mark UK Savings Week and share some financial tips with the University of Bath Rugby team.

Chief Commercial Officer, Colin McDougall, kicked off the session by highlighting the benefits of a mutual organisation like Bath Building Society. A Building Society operate solely for the benefit of our borrowers and savers and not external shareholders. As well as the financial benefits this brings, it puts Members at the heart of everything we do. Members also play a part in planning the future of the Society.

Financial wellbeing was the key message of the presentation, which provided a great insight for students about how they can start planning financial goals and develop a savings habit.

The students were also interested to learn more about the Buy for University mortgage which offers mortgages to university students of up to 100% of the purchase price, and uses expected rental income as part of the affordability calculation.

These mortgages are offered on a Joint Borrower Sole Proprietor basis, which means the student will be the only borrower on the deeds, but parent/s will be joint borrower/s on the mortgage. This arrangement helps university students plan for their future with the help of their family, to fulfill their dreams of property ownership.

Final-year student, Ed Shepherdson, who is studying a BSc (Hons) in Politics with Economics alongside playing in the Performance Rugby Squad, was very impressed by the talk:

“As a student, especially in your final year, I think we all tend to be fixated on our career path and where we are going to be working, rather than considering the different financial options which are available to us as students. This has definitely made me more financially aware. I had no idea about all of the options open to us. I think it’s really valuable for young students to be exposed to these financial opportunities.”

Thanks to the team at Bath University for having us!

More than 2,300 local students each year benefit from the Society’s on-going Financial Education programme run in partnership with WizeUp. We are passionate about educating our local community to develop good money habits. As part of our Financial Education programme we work with local sixth forms to educate students and give them confidence to make sound financial decisions about borrowing, savings and budgeting as they prepare for University or working life.

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