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Buy to Let lending criteria

To search for an item in the Society’s lending criteria you can select Buy To Let or Residential 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.

  • Portfolio Landlords Position and Definition

    Value:

    Accepted

    Criteria Policy Notes:

    Bath Building Society specifies a 'Portfolio Landlord' as 4 or more completed qualifying rental properties that are mortgaged or unencumbered. The number of qualifying properties that constitutes a 'Portfolio Landlord' is All applicants combined Buy To Let properties. A qualifying property:

      • Includes Privately owned Buy to Let rental properties
      • Includes Company owned Buy to Let rental properties
      • where the applicant has a shareholding of more than 1 %
      • Includes Consent to Let properties
      • Includes Holiday Lets
      • Single title multi unit properties are counted as one property.

    Criteria description:

    Indicates if we can accept 'Portfolio' landlords and IMPORTANTLY how they define a portfolio landlord.
  • Age Limits: Maximum Age AT POINT OF APPLICATION

    Value:

    No limit years

    Criteria Policy Notes:

    No maximum age but affordability must be proven into retirement.

    Criteria description:

    Indicates the maximum age we can accept an applicant to be at the time of an application to be considered for a Buy to Let application.
  • Applicants on Furlough

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider an application from applicants who are on furlough leave.

    Criteria description:

    Some Buy to Let lenders may not lend if you are currently on furlough leave. This search indicates which lenders can and which lenders can not potentially accept this situation.
  • Remortgage purpose: Balance Swap (maximum LTV)

    Value:

    80 percentage

    Criteria Policy Notes:

    80% max ltv for £ 4 £ re-mortgage

    Criteria description:

    Indicates the maximum loan to value (LTV) a Buy to Let we can accept where the remortgage purpose is a simple balance swap (no additional monies being raised).
  • Address History (Min UK address history needed)

    Value:

    36 months

    Criteria Policy Notes:

    3 years minimum

    Criteria description:

    This is the required number of months we specify a client has to have had a UK address history for. 
  • Advisor Own Application

    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 Buy to Let applications from an advisor wishing to apply for his or her own mortgage.
  • Age Limits: Maximum Age at End of Mortgage Term

    Value:

    No Maximum years

    Criteria Policy Notes:

    No max for buy to lets

    Criteria description:

    Indicates the absolute maximum age we will lend to.
  • Age Limits: Minimum Age at Application

    Value:

    21 years

    Criteria Policy Notes:

    21 for Buy to Let applications

    Criteria description:

    The minimum age we will accept when assessing an applicant.
  • Arrangement to Pay

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applicants that have an arrangement to pay registered on their credit file.

    Criteria description:

    Indicates if we can potentially accept applicants that have an arrangement to pay registered on their credit file on Buy to Let applications.
  • Arrears (secured/mortgage)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society does accept applicants with a maximum of up to 1 month in arrears within the last 3 years

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications from applicants that have a history of mortgage or secured loan arrears.
  • Arrears (unsecured)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept applicants with previous unsecured loan arrears.

    Criteria description:

    Indicates if we are able to potentially accept Buy to Let  applications where one or more applicant(s) has a history of unsecured loan arrears.
  • Back to Back (Remortgage - Bridging)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept back to back remortgages 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.

    Back to Back (Remortgage - Bridging) indicates if we will accept applications where the customer has funded the purchase from a bridging loan and now wish to mortgage the property.
  • Back to back (Remortgage - Customer Funded)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept back to back remortgages 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.

    Back to back (Remortgage - Customer Funded) indicates if a we will accept applications where the customer has funded the purchase from their own funds and now wish to mortgage the property with a Buy to Let mortgage typically within 6 months of ownership. 
    For example Josh recently purchased a property at auction and now wants to remortgage the property to release funds.
  • Back to back (Remortgage - Inherited)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept back to back remortgages of this nature.

    Criteria description:

    Back to back (Remortgage - Inherited) indicates if we can accept applications where the customer has inherited a property and now wish to mortgage it on a Buy to Let basis typically within 6 months of ownership.

  • CCJs registered between 12 to 24 Months

    Value:

    Potentially Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider applicants that have had CCJs registered more than 12 months ago and less than 24 months ago on Buy to Let applications. The CCJ would have to be satisfied and for no more than £250.

    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 on Buy to Let applications. 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.
  • CCJs registered between 24 to 36 Months

    Value:

    Potentially Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider applicants that have had CCJs registered more than 12 months ago and less than 24 months ago on Buy to Let applications. The CCJ would have to be satisfied and for no more than £250.

    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 on Buy to Let applications. 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.
  • CCJs registered between 3 to 12 Months

    Value:

    Potentially Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider applicants that have had CCJs registered more than 12 months ago and less than 24 months ago on Buy to Let applications. The CCJ would have to be satisfied and for no more than £250.

    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 on Buy to Let applications. 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.
  • CCJs registered in last 3 Months

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applicants that have had CCJs registered in the past 3 months on Buy to Let applications.

    Criteria description:

    Indicates if we can potentially accept applicants that have had any CCJs registered in the past 3 months on Buy to Let applications.. 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.
  • CCJs registered over 36 Months ago

    Value:

    Potentially Ignored

    Criteria Policy Notes:

    Bath Building Society can potentially consider applicants that have had CCJs registered more than 12 months ago and less than 24 months ago on Buy to Let applications. The CCJ would have to be satisfied.

    Criteria description:

    Indicates if we can potentially ignore CCJs that were registered more than 36 months ago on Buy to Let applications. 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.
  • Can Consider Earned Income in Rental Assessment (Topslicing)

    Value:

    Yes

    Criteria Policy Notes:

    Bath Building Society may be able to consider earned income in affordability assessment.

    Criteria description:

    Indicates if we can potentially consider applicants earned income in addition to the rental income for a property when calculating the maximum mortgage that can be borrowed.
  • Can extend mortgage offer

    Value:

    Yes

    Criteria Policy Notes:

    Offers valid for 4 months. Can go past this by a few weeks - underwriter discretion

    Criteria description:

    Indicates if we can potentially extend a clients mortgage offer beyond the standard expiry.
  • Can use actual existing rent when higher than valuers estimate

    Value:

    Yes

    Criteria Policy Notes:

    Bath Building Society can potentially consider the current rent received from the current tenant for affordability assessment when it exceeds the valuers estimate.

    Criteria description:

    Indicates if we can potentially use the actual rent received from an existing tenant when it is higher than the valuer's estimate. For example, this situation could arise on remortgage applications where, in the valuer's opinion, the market rent is lower than what the landlord is currently receiving.
  • Can use valuers rental estimate even if higher than actual existing rent

    Value:

    Yes

    Criteria Policy Notes:

    Bath Building Society can use the valuers rental estimate even if it is higher than actual rent received by the current tenant(s)

    Criteria description:

    Indicates if we can potentially use the valuer's estimate when assessing loan affordability even if the actual rent being received is less than the estimate. For example, this situation could arise on remortgage applications where the existing tenant is paying below the market estimate (based on the valuer's rental valuation).
  • Consumer Buy to Let (position and definition)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept applicants classed as a 'Consumer Buy to Let (CBTL)'

    Criteria description:

    Indicates if we can lend when we consider the transaction to be a 'Consumer Buy to Let (CBTL)' and what our definition of a consumer buy to let is. A CBTL is often referred to as an accidental landlord.
  • Contract Reassignment

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept applications where contract reassignment exists

    Criteria description:

    Indicates if we can potentially accept a situation whereby the purchaser is looking to buy a new build property from a third party (not the builder/developer). 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.
  • County Court Judgements (CCJs) (Satisfied) potentially accepted

    Value:

    Acceptable

    Criteria Policy Notes:

    CCJ's must be satisfied for 3 years or more. Anything under £500 may be considered if a blip or valid explanation.i.e Parking ticket that escalted into a ccj. To be satisfied on completion. Underwriter discretion.

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications from applicants that have had/or have satisfied CCJs registered against their name.
  • County Court Judgements (CCJs) (Unsatisfied) potentially accepted

    Value:

    Acceptable

    Criteria Policy Notes:

    Accepted if under £500 and a valid explanation. Must be satisfied on completion. All other credit history must be clean
    i.e mobile phone, parking ticket that has escalated into a ccj

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications from applicants that have had/or have unsatisfied CCJs registered against their name. 
  • Covid-19: Are you offering a payment holiday?

    Value:

    Yes

    Criteria Policy Notes:

    Bath Building Society can potentially consider allowing BTL borrowers to take a payment holiday due to problems relating to the Covid-19 outbreak.

    Criteria description:

    Displays if we will allow BTL borrowers to take a payment holiday due to payment difficulties related to the Covid-19 outbreak.
  • Covid-19: Fees waived for missed mortgage payments (not agreed payment holidays) due to Covid-19 difficulties

    Value:

    Yes

    Criteria Policy Notes:

    Bath Building Society will potentially waive fees for late payments on BTL mortgages that were due to payment difficulties related to the Covid-19 outbreak.

    Criteria description:

    Displays if we will consider waiving fees for late BTL mortgage payments that were due to payment difficulties related to the Covid-19 outbreak.
  • Covid-19: Policy

    Value:

    Yes

    Criteria Policy Notes:

    Please contact Bath Building Society should you have any difficulty in paying or need any help or assistance

    Criteria description:

    Displays if we have a Covid-19 policy for BTL lending and if so the details of it.
  • Covid-19: Will allow conversion to interest only?

    Value:

    Contact Lender

    Criteria Policy Notes:

    Bath Building Society can potentially consider allowing borrowers to convert their repayment mortgage to an interest-only basis to help assist with payment difficulties relating to the Covid-19 outbreak.

    Criteria description:

    Displays if we will allow BTL borrowers to convert their mortgage from repayment to interest-only due to payment difficulties related to the Covid-19 outbreak.
  • Credit Checks with Callcredit

    Value:

    no

    Criteria Policy Notes:

    Bath Building Society does not use Callcredit as a credit reference agency when assessing applications

    Criteria description:

    Indicates if we use Callcredit as a credit reference agency when assessing applications.
  • Credit Checks with Equifax

    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.
  • Credit Checks with Experian

    Value:

    No

    Criteria Policy Notes:

    Bath Building Society does not use Experian as a credit reference agency when assessing applications

    Criteria description:

    Indicates if we use Experian as a credit reference agency when assessing Buy to Let applications.
  • Credit Scores?

    Value:

    No

    Criteria Policy Notes:

    We credit search but not credit score. Manual underwriting applies

    Criteria description:

    Indicates if we use 'credit scoring' to assess a client(s) mortgage application usually at agreement in principle (AIP) stage.
  • Criminal Convictions

    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.
  • Debt Management Plan (Current/Unsatisfied)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not accept applicants who have a current/unsatisfied debt management plan.

    Criteria description:

    Indicates if we can potentially accept a Buy to Let application from an applicant who is currently in a debt management plan.
  • Debt Management Plan (satisfied)

    Value:

    Acceptable

    Criteria Policy Notes:

    Accepted if cleared 5 years or more

    Criteria description:

    Indicates if we can potentially accept a Buy to Let application from an applicant who has previously had a debt management plan that is now satisfied.
  • Debt Related: Payday loan (current)

    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 a Buy to Let application from a borrower who is currently in a payday loan credit agreement
  • Debt Related: Payday loan (previous)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society does accept applicants that have had a previous payday loan must be clear for at least 12 months

    Criteria description:

    Indicates if we can potentially accept a Buy to Let application from a borrower who has had a payday loan in the past but is not currently in a payday loan credit agreement.
  • Debt Relief Order (Satisfied)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can accept Debt Relief Orders if the applicant has been clear for at least 12 months

    Criteria description:

    Indicates if we can consider an applicant with a satisfied debt relief order
  • Defaults (satisfied) potentially accepted

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept applicants who have previous satisfied defaults on a case by case basis. Must be registered over 2 years ago and satisfied on application.

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications from applicants that have had/or have satisfied defaults registered against their name.
  • Defaults (unsatisfied) potentially accepted

    Value:

    Acceptable

    Criteria Policy Notes:

    Registered over 2 years ago. Must be satisfied on application. £250.00 or less considered. Case by case basis.

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications from applicants that have had/or have unsatisfied defaults registered against their name
  • Defaults registered between 12 to 24 Months

    Value:

    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 on Buy to Let applications.

    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 on Buy to Let applications. 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.
  • Defaults registered between 24 to 36 Months

    Value:

    Potentially Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider applicants that have had Defaults registered more than 24 months ago and less than 36 months ago on Buy to Let applications. If satisfied.

    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 on Buy to Let applications. 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.
  • Defaults registered between 3 to 12 Months

    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 on Buy to Let applications.

    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 on Buy to Let applications. 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.
  • Defaults registered in last 3 Months

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applicants that have had Defaults registered in the past 3 months on Buy to Let applications.

    Criteria description:

    Indicates if we can potentially accept applicants that have had any Defaults registered in the past 3 months on Buy to Let applications.. 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.
  • Defaults registered over 36 Months ago

    Value:

    Potentially Ignored

    Criteria Policy Notes:

    Bath Building Society can potentially ignore any Defaults that were registered over 36 months ago on Buy to Let applications. If satisfied

    Criteria description:

    Indicates if we can potentially ignore Defaults that were registered more than 36 months ago on Buy to Let applications. 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.
  • Discharged Bankrupt (years)

    Value:

    2 years

    Criteria Policy Notes:

    Bath Building Society can potentially accept a discharged bankrupt if the bankruptcy has been registered over 3 years ago and discharged for at least 2 years.

    Criteria description:

    Displays if we can accept discharged bankrupts on Buy to Let applications and if so how long a client has to have been discharged for. 
  • Energy Performance Rating (EPC) rating 'F' or 'G'

    Value:

    Not Acceptable

    Criteria Policy Notes:

    We do not accept Buy to Let mortgages on properties that have an EPC rating of 'F' or 'G'

    Criteria description:

    Indicates if we can potentially offer Buy to Let mortgages on properties that have an EPC rating of 'F' or 'G'
  • Escalating Ground Rents

    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 Buy to Let applications for leasehold properties that have an escalating ground rent clause.
  • Estate Rentcharges

    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 Buy to Let applications for freehold properties where 'Estate Rent Charge' clauses exist.
  • Ex MOD properties

    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 property on a buy to let application.

    Warning:

    Please refer to lender.
  • ExPat Deposit source non-UK

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider expat applications where the source of deposit does not originate from the UK.

    Criteria description:

    Indicates if we can accept deposits that have originated outside of the European Economic Area (EEA) as an acceptable source of deposit for Expat Buy to Let applications.
  • Expat Buy to Let

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept Expat Buy to Let business.

    Criteria description:

    Indicates if we can potentially consider Buy to Let applications from expats.
  • Expat Regulated Buy to Let (Let to Family Member)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept Buy to Let mortgages from Expat applicants where the property will be Let to Family Member(s)

    Criteria description:

    Indicates if we can consider expat buy to let applications where the intention is to Let to a family member
  • Expat UK Credit Profile Required

    Value:

    We do not accept Expat Buy to Let applications

    Criteria Policy Notes:

    Bath Building Society does not accept Ex-pat applications.

    Criteria description:

    Indicates if we require expats to have a UK credit profile
  • Expat minimum income

    Value:

    We do not accept Expat Buy to Let applications

    Criteria Policy Notes:

    Bath Building Society does not accept Ex-Pat applications.

    Criteria description:

    Indicates if we have a minimum income requirement when assessing expat applications and if so what is it
  • Expat: Holiday Lets

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept expat applications at this time.

    Criteria description:

    Indicates if we can potentially consider applications from expat borrowers that wish to Let the property on a Holiday Let basis.
  • Financial Associates with Adverse

    Value:

    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 Buy to Let applications from an applicant who is financially associated with someone who has adverse credit.
  • First Time Buyers

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept Buy to Let applications from 'First Time Buyers'

    Criteria description:

    Indicates if we can potentially consider applications from First Time Buyers.
  • First Time Landlords

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept Buy to Let applications from 'First Time Landlords'.

    Criteria description:

    Indicates if we can potentially consider applications from First Time Landlords.
  • Flat/Maisonette Maximum LTV (New Build)

    Value:

    75 percentage

    Criteria Policy Notes:

    Bath Building Society can lend on New build flat and maisonettes to a maximum of 75% LTV


    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.
  • Flat/Maisonette Maximum LTV (Standard)

    Value:

    75 percentage

    Criteria Policy Notes:

    Bath Building Society can lend on flats and maisonettes to a maximum of 75% LTV

    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.
  • Flying Freehold: Maximum acceptable percentage of the gross floor area

    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 us

    Warning:

    Agreed on a case by case basis.
  • Foreign Nationals (Living Overseas)

    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 BUY TO LET 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 Buy to Let basis as an investment.
  • Foreign Nationals (WITHOUT indefinite leave to remain)

    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.
  • Foreign Nationals (with 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 have indefinite leave to remain
  • Full Time Landlord

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept applications from 'Full Time Landlords'.

    Criteria description:

    Indicates if we can potentially lend to what we consider to be professional landlords. Typically a professional landlord is an applicant whose main income source is from their rental income from property.
  • Gambling (recurring transactions)

    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 BTL applications
  • Guaranteed rental scheme

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applications where a Guaranteed Rental Scheme will be set up

    Criteria description:

    Indicates if a we will consider applications on a Guaranteed Rent Scheme
  • HMO First Time Landlord

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We do not accept HMO applications

    Criteria description:

    Indicates if we can consider a Buy to Let application on an HMO property from a first time landlord.
  • HMO Maximum LTV

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We do no accept HMO applications

    Criteria description:

    Indicates the maximum LTV we can consider for Buy to Let applications on HMO properties
  • HMO Maximum Number of Bedrooms

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We do not accept HMO applications

    Criteria description:

    Indicates if we have a maximum number of bedrooms allowed on HMO properties and if so how many
  • HMO Maximum Number of Kitchens

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We do not accept HMO applications

    Criteria description:

    Indicates the maximum number of kitchens permitted by us in an HMO property
  • HMO Maximum Number of Storeys

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We do not accept HMO applications

    Criteria description:

    Indicates the maximum number of storeys permitted on HMO properties.
  • HMO Minimum Applicant Experience

    Value:

    We do not accept HMO applications months

    Criteria Policy Notes:

    We do not accept HMO applications

    Criteria description:

    Indicates if we require applicants to have a minimum HMO experience and if so how much (IN MONTHS)
  • HMO Minimum Double Bedroom Square Metre

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We do not accept HMO applications

    Criteria description:

    Indicates if we have a minimum square metreage requirement on a double bedroom and if so what it is.
  • HMO Minimum Property Value

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We do not accept HMO applications

    Criteria description:

    Indicates if we specify a minimum property value for HMO properties and if so what it is.
  • HMO Minimum Single Bedroom Square Metre

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We do not accept HMO applications

    Criteria description:

    Indicates if we have a minimum square metreage requirement on a single bedroom and if so what it is.
  • HMO Unlicensed Acceptable

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We do not accept HMO applications

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications on Houses of Multiple Occupation (HMOs) that are 'unlicensed'
  • HMO rental valuation assessment

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We will not consider an HMO application

    Criteria description:

    Indicates if we can potentially use the HMO rental valuation as opposed to standard AST valuation for HMO applications
  • HMO: Communal area in the property

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    Bath Building Society does not lend on 'Houses of Multiple Occupation (HMO)'.

    Criteria description:

    Indicates if we can potentially consider an HMO application without a communal area in the property
  • Historic CIFAS Record (Years)

    Value:

    Not Acceptable years

    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 Buy to Let applications from an applicant that is on the CIFAS register and if so, what time must have passed in order for them to be potentially accepted by the lender for a new mortgage application.
  • House of Multiple Occupation (HMO's)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society cannot consider applications on 'Houses of Multiple Occupation (HMO)'.

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications on Houses of Multiple Occupation (HMOs)
  • House/Bungalow Maximum LTV (New Build)

    Value:

    75 percentage

    Criteria Policy Notes:

    Bath Building Society can potentially lend up to 75% on new build houses/bungalows.

    Criteria description:

    Indicates the maximum potential loan to value (LTV) we can accept where the property type is a NEW BUILD house/bungalow.
  • House/Bungalow Maximum LTV (Standard)

    Value:

    75 percentage

    Criteria Policy Notes:

    Bath Building Society can lend on houses/bungalows to a maximum of 75% LTV

    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.
  • ICR Rental Calculation (Income Coverage Ratio): (purchases) (Additional Rate Tax Payers)

    Value:

    5.5% stressed at 145%

    Criteria Policy Notes:

    The calculation is based on the actual or expected rental. Rent must cover 125% of the ‘stressed mortgage payments’ for basic rate tax payers, or 145% for higher rate tax payers. The stressed mortgage payment is based on the fixed rate for the 5 year fixed rate product; for the discounted product it is the discounted rate +2% or 5.5% whichever is higher.

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances: 
    • Type = Standard Purchase
    • Tax Band Applied = Additional Rate (based on the highest rate of all applicants)
    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (purchases) (Additional Rate Tax Payers) 5 YEAR FIX

    Value:

    4% stressed at 145%

    Criteria Policy Notes:

    The calculation is based on the actual or expected rental. Rent must cover 125% of the ‘stressed mortgage payments’ for basic rate tax payers, or 145% for higher rate tax payers. The stressed mortgage payment is based on the fixed rate for the 5 year fixed rate product; for the discounted product it is the discounted rate +2% or 5.5% whichever is higher.

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Standard Purchase 
    • Tax Band Applied = Additional Rate (based on the highest rate of all applicants)
    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (purchases) (Basic Rate Tax Payers)

    Value:

    5.5% stressed at 125%

    Criteria Policy Notes:

    Basic Rate tax payer stressed at 125%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Standard Purchase
    • Tax Band Applied = Basic (based on the highest rate of all applicants)
    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (purchases) (Basic Rate Tax Payers) 5 YEAR FIX

    Value:

    4% stressed at 125%

    Criteria Policy Notes:

    The calculation is based on the actual or expected rental. Rent must cover 125% of the ‘stressed mortgage payments’ for basic rate tax payers, or 145% for higher rate tax payers. The stressed mortgage payment is based on the fixed rate for the 5 year fixed rate product; for the discounted product it is the discounted rate +2% or 5.5% whichever is higher.

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Standard Purchase
    • Tax Band Applied = Basic (based on the highest rate of all applicants)
    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (purchases) (Higher Rate Tax Payers)

    Value:

    5.5% stressed at 145%

    Criteria Policy Notes:

    The calculation is based on the actual or expected rental. Rent must cover 125% of the ‘stressed mortgage payments’ for basic rate tax payers, or 145% for higher rate tax payers. The stressed mortgage payment is based on the fixed rate for the 5 year fixed rate product; for the discounted product it is the discounted rate +2% or 5.5% whichever is higher.

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Standard Purchase
    • Tax Band Applied = Higher (based on the highest rate of all applicants)
    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (purchases) (Higher Rate Tax Payers) 5 YEAR FIX

    Value:

    4% stressed at 145%

    Criteria Policy Notes:

    The calculation is based on the actual or expected rental. Rent must cover 125% of the ‘stressed mortgage payments’ for basic rate tax payers, or 145% for higher rate tax payers. The stressed mortgage payment is based on the fixed rate for the 5 year fixed rate product; for the discounted product it is the discounted rate +2% or 5.5% whichever is higher.

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Standard Purchase
    • Tax Band Applied = Higher (based on the highest rate of all applicants)
    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages balance swap) (Additional Rate Tax Payers)

    Value:

    3.75% stressed at 145%

    Criteria Policy Notes:

    x145% x3.74%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage Balance Swap
    • Tax Band Applied = Additional Rate (based on the highest rate of all applicants)
    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages balance swap) (Additional Rate Tax Payers) 5 YEAR FIX

    Value:

    4% stressed at 145%

    Criteria Policy Notes:

    x145% x3.99%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage Balance Swap
    • Tax Band Applied = Additional Rate (based on the highest rate of all applicants)
    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages balance swap) (Basic Rate Tax Payers)

    Value:

    3.75% stressed at 125%

    Criteria Policy Notes:

    x125% x3.75%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage Balance Swap
    • Tax Band Applied = Basic (based on the highest rate of all applicants)
    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages balance swap) (Basic Rate Tax Payers) 5 YEAR FIX

    Value:

    4% stressed at 125%

    Criteria Policy Notes:

    x125% x3.99%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage Balance Swap
    • Tax Band Applied = Basic (based on the highest rate of all applicants)
    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages balance swap) (Higher Rate Tax Payers)

    Value:

    3.75% stressed at 145%

    Criteria Policy Notes:

    x145% x3.74%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage Balance Swap
    • Tax Band Applied = Higher (based on the highest rate of all applicants)
    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages balance swap) (Higher Rate Tax Payers) 5 YEAR FIX

    Value:

    4% stressed at 145%

    Criteria Policy Notes:

    x145% x3.99%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage Balance Swap
    • Tax Band Applied = Higher (based on the highest rate of all applicants)
    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages with extra borrowing) (Additional Rate Tax Payers)

    Value:

    5.5% stressed at 145%

    Criteria Policy Notes:

    x145% x5.5%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage with Extra Borrowing
    • Tax Band Applied = Additional Rate (based on the highest rate of all applicants)
    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages with extra borrowing) (Additional Rate Tax Payers) 5 YEAR FIX

    Value:

    4% stressed at 145%

    Criteria Policy Notes:

    x145% x3.99%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage with Extra Borrowing
    • Tax Band Applied = Additional Rate (based on the highest rate of all applicants)
    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages with extra borrowing) (Basic Rate Tax Payers)

    Value:

    5.5% stressed at 125%

    Criteria Policy Notes:

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage with Extra Borrowing
    • Tax Band Applied = Basic (based on the highest rate of all applicants)
    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages with extra borrowing) (Basic Rate Tax Payers) 5 YEAR FIX

    Value:

    4% stressed at 125%

    Criteria Policy Notes:

    x125% x3.99%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage with Extra Borrowing
    • Tax Band Applied = Basic (based on the highest rate of all applicants)
    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages with extra borrowing) (Higher Rate Tax Payers)

    Value:

    5.5% stressed at 145%

    Criteria Policy Notes:

    x145% x5.5%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage with Extra Borrowing
    • Tax Band Applied = Higher (based on the highest rate of all applicants)
    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages with extra borrowing) (Higher Rate Tax Payers) 5 YEAR FIX

    Value:

    4% stressed at 145%

    Criteria Policy Notes:

    x145% x3.99%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage with Extra Borrowing
    • Tax Band Applied = Higher (based on the highest rate of all applicants)
    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation for Limited Companies (Income Coverage Ratio) 5 yr fix

    Value:

    3.7% stressed at 125%

    Criteria Policy Notes:

    Bath Building Society can accept LTD company BTL and Holiday let applications.
    Rent must cover 125% at the current payrate (3.69%)

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:

    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = YES

    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation for Limited Companies (Income Coverage Ratio) Less than 5 yr fix

    Value:

    5.5% stressed at 145%

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:

    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = YES

    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • Income made up primarily of benefits

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will 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.
  • Individual Voluntary Arrangements (IVA)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not accept applicants who have had a previous IVA.

    Criteria description:

    Specifies if we are able to potentially consider a Buy to Let application from an applicant who has previously had an Individual Voluntary Arrangement (IVA) registered against them. 

    IMPORTANT NOTE: An IVA usually stays on the credit file for 6 years from the date it was REGISTERED not from the date it was satisfied which typically occurs 5 years after the date the IVA was entered into (the registered date). This is important because some lenders will specify how long it must have been satisfied for and others will use how long ago it was registered.

    This criteria displays if a person who has had an IVA can be considered on a general level but you should read the policy notes and related criteria carefully to dig deeper with regard your clients specific situation.


  • Individual Voluntary Arrangements - IVA (Years satisfied)

    Value:

    Not Acceptable years

    Criteria Policy Notes:

    Bath Building Society will not accept applicants who have had a previous IVA.

    Criteria description:

    Displays if we accept Buy to Let applications from 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. 

    IMPORTANT NOTE: An IVA usually stays on the credit file for 6 years from the date it was REGISTERED not from the date it was satisfied which typically occurs 5 years after the date the IVA was entered into (the registered date). This is important because some lenders will specify how long it must have been satisfied for and others will use how long ago it was registered.

    This criteria displays how long ago it must have been satisfied so you should read the policy notes carefully to check if the lenders specifies how long ago it must have been registered.


  • Individual Voluntary Arrangements - IVA (Years since registered)

    Value:

    3 years

    Criteria Policy Notes:

    must have been satisfied for at least 3 years

    Criteria description:

    Displays if we accept Buy to Let applications from 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. 

    IMPORTANT NOTE: An IVA usually stays on the credit file for 6 years from the date it was REGISTERED not from the date it was satisfied which typically occurs 5 years after the date the IVA was entered into (the registered date). This is important because some lenders will specify how long it must have been satisfied for and others will use how long ago it was registered. 

    This criteria displays how long ago it must have been registered so you must read the policy notes carefully to check if the lender specifies how long ago it must have been satisfied as well.

    Warning:

    must have been satisfied for at least 3 years
  • Inter-family sales (no discount)

    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 buy to let application with no discount being offered
  • Japanese Knotweed

    Value:

    Acceptable

    Criteria Policy Notes:

    If Japanese Knotweed or any other invasive species is identified within 7 metres of the property, the application may be declined.

    The Underwriter will have discretion to proceed subject to a suitable eradication program being in place with a member of the Property Care Association (PCA) with an insurance backed warranty

    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.
  • Joint application sole proprietor

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not 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.
  • Late Payments (Not Missed)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept applicants with previous 'Late Payments'.

    Criteria description:

    Indicates if a we can potentially consider buy to let applications from applicants who have a history of late payments (NOT REGISTERED AS MISSED) on any credit agreements they hold.

    Warning:

    Maximum of 2 within the last 24 months
  • Layered company Ltd BTL

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applications from a layered Ltd Companies.

    Criteria description:

    Indicates if we will consider a Limited Company Buy to Let application from a layered Ltd Company
  • Leasehold Property where No Separate Management Company Exists

    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 Buy to Let applications for leasehold properties where no separate management company exists.
  • Lender or Group Lending Limit

    Value:

    1500000

    Criteria Policy Notes:

    Won't lend over £1.5 million.

    Criteria description:

    Indicates if we have a maximum exposure limit a borrower can have with us or within our group.
  • Lender or Group Maximum Number of Mortgages

    Value:

    No Maximum

    Criteria Policy Notes:

    No maximum whole portfolio must be self financing.

    Criteria description:

    Indicates if we have a maximum number of mortgages a borrower can have with us or within our group. 
  • Lending Location: Channel Islands

    Value:

    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 Buy to Let lending on properties located in the Channel Islands.
  • Lending Location: England

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if we can potentially consider Buy to Let lending on properties located in England.
  • Lending Location: Isle of Man

    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.
  • Lending Location: Isle of Wight

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if we can potentially consider lending on properties located on the Isle of Wight
  • Lending Location: Northern Ireland

    Value:

    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.
  • Lending Location: Scilly Isles

    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.
  • Lending Location: Scotland

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society lends on properties in Scotland.

    Criteria description:

    Indicates if we can potentially consider lending on properties located in Scotland.

    Warning:

    Exclusions are Retirement Interest Only / Right to Buy & Shared Ownership
    No lending on flats or properties with a lease.
  • Lending Location: Wales

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if we can potentially consider lending on properties located in Wales.
  • Lending against Uplifted Value following Refurbishment Works

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not use the uplifted value in this situation.

    Criteria description:

    Indicates if we can potentially offer a remortgage and use the uplifted value of the property following recent works of improvement. For example, Jon purchases a property for £150,000 and spend a couple of months doing the place up following which the property is now worth £250,000. Jon now wants to find a lender who will allow him to raise capital based on the newly enhanced value.
  • Let to Buy (Remortgage current residential to Buy to Let)

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if we can potentially accept applications to remortgage onto a buy to let basis when the current mortgage is residential.
  • Let to Rent

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider Buy to Let remortgage applications where the property is currently the applicants main residence but will now be Let and the applicant will be moving into separate rented accomodation

    Criteria description:

    Indicates if we will allow an applicant to remortgage their current residential property onto a Buy to Let mortgage and then move into rented accomodation as opposed to purchasing a new main residence.
  • Limited Company (SPV) Minimum trading period

    Value:

    No Minimum months

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    Indicates if there is a minimum trading period for 'Special Purpose Vehicle Limited Companies' and if so how long IN MONTHS this is.
  • Limited Company (SPV) applicant definition

    Value:

    Directors & Shareholders

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    Indicates if we consider both 'Directors AND Shareholders' as applicants or 'Directors' only when assessing applications from Special Purpose Vehicle Ltd Companies.
  • Limited Company (SPV) maximum number of applicants

    Value:

    4

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    Indicates the maximum number of applicants we can consider when lending to Special Purpose Vehicle Limited Companies.
  • Limited Company (SPV) shareholders required to provide personal guarantees

    Value:

    Yes

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 75% LTV

    Criteria description:

    Indicates if we require shareholders in a 'Special Purpose Vehicle' Limited Company to provide personal guarantees as well as the 'Directors'.
  • Limited Company (Trading) Min Trading Period

    Value:

    36 months

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    Indicates if there is a minimum trading period for 'Trading Limited Companies' and if so how long IN MONTHS this is.
  • Limited Company (Trading) applicant definition

    Value:

    Directors & Shareholders

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    Indicates if we consider both 'Directors AND Shareholders' as applicants or 'Directors' only when assessing applications from Trading Ltd Companies.
  • Limited Company (Trading) maximum number of applicants

    Value:

    4

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    Indicates the maximum number of applicants we can consider when lending to Trading Limited Companies
  • Limited Company (Trading) shareholders required to provide personal guarantees

    Value:

    Yes

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 75% LTV

    Criteria description:

    Indicates if we require shareholders in a 'Trading' Limited Company to provide personal guarantees as well as the 'Directors'.
  • Limited Company Buy to Let

    Value:

    Accepted

    Criteria Policy Notes:

    Bath Building Society can consider Ltd Company Buy to Let applications up to 70% LTV

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications from Limited Companies

    Warning:

    The Limited Company must have been set up and running for 3 years
  • Limited Company Buy to Let (Special Purpose Vehicle SPV)

    Value:

    Accepted

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications from Limited Companies where the Ltd company is set up as a 'Special Purpose Vehicle (SPV)'.
  • Limited Company Buy to Let (Trading Company - No SPV)

    Value:

    Accepted

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications from Trading Limited Companies. Trading Limited Companies are companies that are not set up exclusively for the purpose of buying property for example a trading ltd company that sells furniture as its primary function.
  • Limited Company Maximum Age of Director / Shareholder / Applicant at application

    Value:

    No Maximum

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    Indicates the maximum age an applicant can be at application.
  • Maximum Aggregate Portfolio LTV (within group or lender)

    Value:

    75

    Criteria Policy Notes:

    Refer to lender.

    Criteria description:

    Indicates if we specify a maximum LTV of all properties owned by the applicants that are mortgaged to them or their group.
  • Maximum Ground Rent (as % of Property Value/Purchase Price)

    Value:

    No Maximum

    Criteria Policy Notes:

    Bath Building Society has no maximum threshold percentage against the property value that the ground rent cannot exceed.

    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 on Buy to Let applications. 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.
  • Maximum LTV across the whole portfolio

    Value:

    75

    Criteria Policy Notes:

    Refer to lender.

    Criteria description:

    Indicates if we specify a maximum LTV of all properties owned by the applicants across their entire portfolio. This includes mortgages held with the lender and group and all other mortgages held with other lenders.
  • Maximum Loan to Value (LTV)

    Value:

    75 percentage

    Criteria Policy Notes:

    Bath Building Society has a maximum of 75% LTV on BTL.

    Criteria description:

    Indicates the maximum LTV we can consider for Buy to Let applications
  • Maximum Mortgage Arrears in last 24 Months

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider Buy to Let applicants with any mortgage arrears in the previous 24 months.

    Criteria description:

    Indicates if we can potentially accept Buy to Let 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.
  • Maximum Number of CCJs (Satisfied)

    Value:

    No Maximum

    Criteria Policy Notes:

    Bath Building Society can consider applicants with satisfied CCJs as long as they are satisfied.
    If they are satisfied within the last 3 years for no more than £250.

    Criteria description:

    Indicates if we can consider Buy to Let 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.
  • Maximum Number of CCJs (Unsatisfied)

    Value:

    0

    Criteria Policy Notes:

    Bath Building Society will not consider applicants with unsatisfied CCJs.

    Criteria description:

    Indicates if we can consider Buy to Let applications from applicants 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.
  • Maximum Number of Defaults (Satisfied)

    Value:

    No Maximum

    Criteria Policy Notes:

    Bath Building Society can consider applicants with satisfied Defaults.

    Criteria description:

    Indicates if we can consider Buy to Let 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.
  • Maximum Number of Defaults (Unsatisfied)

    Value:

    0

    Criteria Policy Notes:

    Bath Building Society will not consider applicants with unsatisfied Defaults.

    Criteria description:

    Indicates if we can consider Buy to Let applications from applicants 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.
  • Maximum Term (Years)

    Value:

    40 years

    Criteria Policy Notes:

    40 years maximum term

    Criteria description:

    Indicates the maximum term a Buy to Let mortgage can be taken over.
  • Maximum Unsecured Arrears in last 24 Months

    Value:

    2

    Criteria Policy Notes:

    Bath Building Society can potentially accept Buy to Let applicants with up to 2 months unsecured arrears in the past 24 months.

    Criteria description:

    Indicates if we can potentially accept Buy to Let 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.
  • Maximum Value of CCJs (Satisfied)

    Value:

    250

    Criteria Policy Notes:

    Bath Building Society can consider applicants with satisfied CCJs up to a maximum value of £250 unless its over 3 years.

    Criteria description:

    Indicates if we can potentially consider Buy to Let 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.
  • Maximum Value of CCJs (Unsatisfied)

    Value:

    0

    Criteria Policy Notes:

    Bath Building Society will not consider applicants with unsatisfied CCJs.

    Criteria description:

    Indicates if we can consider Buy to Let 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.
  • Maximum Value of Defaults (Satisfied)

    Value:

    No Maximum

    Criteria Policy Notes:

    Bath Building Society can consider applicants with satisfied Defaults.

    Criteria description:

    Indicates if we can potentially consider Buy to Let 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.
  • Maximum Value of Defaults (Unsatisfied)

    Value:

    0

    Criteria Policy Notes:

    Bath Building Society will not consider applicants with unsatisfied Defaults.

    Criteria description:

    Indicates if we can potentially consider Buy to Let 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.
  • Maximum debt to income ratio

    Value:

    No Maximum

    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 Buy to Let applications. For example, an applicant has outstanding unsecured debts of £26,000 and a salary of £40,000. Therefore their DTI is 65%.
  • Maximum length of time of assured shorthold tenancy (AST)

    Value:

    No Maximum

    Criteria Policy Notes:

    All property must be let under a standard Assured Shorthold Tenancy. There is no maximum amount of time.

    Criteria description:

    Indicates the maximum number of months we specify is required on an Assured Shorthold Tenancy (AST)
  • Maximum number of applicants allowed

    Value:

    4

    Criteria Policy Notes:

    4

    Criteria description:

    The maximum number of applicants able to go on a Buy to Let mortgage application.
  • Maximum number of rental properties MORTGAGED with ALL lenders

    Value:

    No Maximum

    Criteria Policy Notes:

    Bath Building Society has no maximum limit to the number of Buy to Let mortgages applicants hold with other lenders.

    Criteria description:

    Indicates if there is a maximum number of mortgaged Buy to Let properties and if so how many, an applicant can have in the background. 
  • Maximum number of storeys considered for lending on ex local authority flats

    Value:

    Not Acceptable

    Criteria Policy Notes:

    We dont lend on ex-local authority flats

    Criteria description:

    Indicates the maximum number of stories we can consider when lending on ex local authority high rise flats.
  • Maximum number of storeys considered for lending on flats

    Value:

    6

    Criteria Policy Notes:

    Maximum 6 stories but anything over 4 stories needs to be lift served

    Criteria description:

    Indicates the maximum number of storeys we can consider when lending on high rise flats.

    Warning:

    Anything over 4 stories needs to be lift served.
  • Maximum number of stories where no lift is present

    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.
  • Maximum number of tenants on an assured shorthold tenancy (AST)

    Value:

    4

    Criteria Policy Notes:

    Bath Building Society can consider applications where there are no more than 4 tenants on the Assured Shorthold Tenancy (AST).

    Criteria description:

    Indicates the maximum number of tenants permitted by us on a single Assured Shorthold Tenancy
  • Minimum ICR across the whole portfolio

    Value:

    4% stressed at 145%

    Criteria Policy Notes:

    Refer to lender.

    Criteria description:

    This relates to if we specify a minimum income coverage ratio (ICR) that cannot be exceeded across the customers entire portfolio including both properties mortgaged to us and to other lenders.
  • Minimum Income Requirement

    Value:

    20000

    Criteria Policy Notes:

    Bath Building Society has a minimum income of £20,000 after commitments.

    Criteria description:

    Indicates if we have a minimum income requirement for Buy to Let applications and if so what it is.
  • Minimum Landlord Experience (in MONTHS)

    Value:

    No Minimum months

    Criteria Policy Notes:

    Bath Building Society has no minimum experience requirement for applicants

    Criteria description:

    Indicates if we require a minimum amount of experience (IN MONTHS) when lending on Buy to Let applications
  • Minimum Length of Time Employed (in MONTHS)

    Value:

    No Minimum months

    Criteria Policy Notes:

    Bath Building Society has no minimum length of time applicants need to have been in continuous employment. The applicant cannot be in a probation period.

    Criteria description:

    Specifies if there is a minimum number of months (if so how many) employed applicants must have been continuously employed on Buy to Let applications.
  • Minimum Loan Size

    Value:

    50000

    Criteria Policy Notes:

    £50k

    Criteria description:

    Indicates the minimum loan size (if there is one) that we accept for new applications.
  • Minimum Percentage of Properties under Private Ownership on Ex-Local Authority Blocks of Flats

    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 when assessing Buy to Let applications.
  • Minimum Property Value for standard Buy to Let lending

    Value:

    100000

    Criteria Policy Notes:

    £100k
    If slightly less we can still look at

    Criteria description:

    Indicates if we have a minimum property value they require for new Buy to Let applications.
  • Minimum Term (Years)

    Value:

    5 years

    Criteria Policy Notes:

    5 years

    Criteria description:

    Indicates the minimum term a Buy to Let mortgage can be taken over.
  • Minimum length of time of assured shorthold tenancy (AST)

    Value:

    6

    Criteria Policy Notes:

    6 Months minimum.

    Criteria description:

    Indicates the minimum number of months we specify is required on an Assured Shorthold Tenancy (AST)
  • Minimum remaining lease at application

    Value:

    55 years

    Criteria Policy Notes:

    Interest Only must have a minimum of 80 years at end of the mortgage term, repayment must have a minimum of 50 years

    Criteria description:

    Indicates the minimum required lease remaining at date of application we can potentially accept. 

    Warning:

    Lease must have 50 years left from the natural term end of the mortgage
  • Minimum remaining lease at end of term

    Value:

    50 years

    Criteria Policy Notes:

    Interest Only must have a minimum of 80 years at end of the mortgage term, repayment must have a minimum of 50 years

    Criteria description:

    Indicates the minimum required lease remaining at the end of the mortgage term we can potentially accept.
  • Months passed where Mortgage Arrears can be ignored

    Value:

    60 months

    Criteria Policy Notes:

    Bath Building Society will not consider applicants with any mortgage arrears on their credit file within the last 5 years.

    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 Buy to Let mortgage applications.
  • Multi Unit Freehold (multiple properties on same title)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on 'Multi Unit Freehold' properties.

    Criteria description:

    Indicates if we can potentially lend on single title multi-unit properties
  • Multi Unit Freehold Maximum Number of Flats

    Value:

    No Maximum

    Criteria Policy Notes:

    Bath Building will accept these type of property on a case by case basis.

    Criteria description:

    Indicates the maximum number of units permitted on a single title multi unit property
  • Multi Unit Minimum Floor Area of each Unit Requirement (Sq Meters)

    Value:

    No Minimum

    Criteria Policy Notes:

    Refer to lender.

    Criteria description:

    Indicates if there is a minimum square meterage requirement on a single title multi unit property
  • New Build Warranty: AEDIS

    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 for us on new build properties.
  • New Build Warranty: Build Assure

    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 for us on new build properties.
  • New Build Warranty: Building Life Plans

    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 for us on new build properties.
  • New Build Warranty: Buildzone

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if Buildzone is an acceptable new build warranty for us on new build properties.
  • New Build Warranty: CRL Management Ltd

    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 for us on new build properties.
  • New Build Warranty: Checkmate (Castle 10)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society accepts Ceckmate Castle 10 as an acceptable new build warranty.

    Criteria description:

    Indicates if Checkmate (Castle 10) is an acceptable new build warranty for us on new build properties.
  • New Build Warranty: Global Home Warranties

    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 for us on new build properties.
  • New Build Warranty: ICW

    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 warranty
  • New Build Warranty: LABC

    Value:

    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 for us on new build properties.
  • New Build Warranty: NHBC Guarantee

    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 for us on new build properties.
  • New Build Warranty: Premier Guarantee Scheme

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if Premier Guarantee Scheme is an acceptable new build warranty for us on new build properties.
  • New Build Warranty: Professional Consultants Certificate

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society will accept Professional Consultants Certificate as an acceptable new build warranty.

    Criteria description:

    Indicates if Professional Consultants Certificate is an acceptable new build warranty for us on new build properties.
  • New Build Warranty: Protek

    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 for us on new build properties.
  • New Build Warranty: Q Assure Build

    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 for us on new build properties.
  • New Build Warranty: Zurich Municipal "New Build"

    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 for us on new build properties.
  • Non Owner Occupier

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept Buy to Let applications from 'Non Owner Occupiers'.

    Criteria description:

    Indicates if we can potentially accept an applicant that is a non-owner occupier for a Buy to Let application. 
    This is not to be confused with a First Time Buyer or First Time Landlord.
  • Offer expiry time (New Build)

    Value:

    120 days

    Criteria Policy Notes:

    All offers are valid for 4 months

    Criteria description:

    Displays the number of days a NEW BUILD Buy to Let mortgage offer is valid for.
  • Offer expiry time (Standard)

    Value:

    120 days

    Criteria Policy Notes:

    4 months

    Criteria description:

    Displays the number of days a STANDARD Buy to Let mortgage offer is valid for.
  • Offset Mortgages Available?

    Value:

    No

    Criteria Policy Notes:

    Bath Building Society does not offer offset mortgages.

    Criteria description:

    Indicates if we can offer Buy to Let offset mortgages (subject to product availability).
  • Overpayment facility as standard (percentage)

    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 on our Buy to Let mortgages. 

  • Ownership of Adjoining Property (Related Transaction)

    Value:

    Acceptable

    Criteria Policy Notes:

    Refer to lender.

    Criteria description:

    Indicates if we can potentially lend on a property where the adjoining property is also owned by one of the applicants.
  • Permission to Self Occupy Holiday Let Property

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society will allow borrowers to 'self occupy' their Holiday Let property up to 60 days a year

    Criteria description:

    Indicates if we can potentially consider applications from borrowers that wish to Let the property on a Holiday Let basis and occupy the property themselves from time to time. For example whilst the property is predominantly Let on a Holiday Let a few weeks a year the applicant would like to stay in the property.
  • Politically exposed persons

    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 Buy to Let applications from an applicant that is considered a politically exposed person.
  • Portable mortgages as standard

    Value:

    Yes

    Criteria Policy Notes:

    All Bath Building Society mortgages are full portable

    Criteria description:

    Indicates if our Buy to Let mortgages are portable as standard.
  • Portfolio Applicants Minimum Income Requirement

    Value:

    20000

    Criteria Policy Notes:

    Minimum income £20,000 after all personal debts

    Criteria description:

    Indicates if we specifiy a minimum income an applicant must earn in order to be considered for a Buy to Let mortgage where the applicant is considered a portfolio landlord.
  • Portfolio Landlord Minimum Experience

    Value:

    No Minimum months

    Criteria Policy Notes:

    No minimum experience requirement.

    Criteria description:

    Indicates if we require a minimum amount of experience (IN MONTHS) if lending to what we consider to be a portfolio landlord.
  • Portfolio Landlords Position and Definition

    Value:

    Accepted

    Criteria Policy Notes:

    Bath Building Society specifies a 'Portfolio Landlord' as 4 or more completed qualifying rental properties that are mortgaged or unencumbered. The number of qualifying properties that constitutes a 'Portfolio Landlord' is All applicants combined Buy To Let properties. A qualifying property:

      • Includes Privately owned Buy to Let rental properties
      • Includes Company owned Buy to Let rental properties
      • where the applicant has a shareholding of more than 1 %
      • Includes Consent to Let properties
      • Includes Holiday Lets
      • Single title multi unit properties are counted as one property.

    Criteria description:

    Indicates if we can accept 'Portfolio' landlords and IMPORTANTLY how they define a portfolio landlord.
  • Portfolio Minimum Income Coverage Ratio (ICR) Requirement (within group or lender)

    Value:

    4% stressed at 145%

    Criteria Policy Notes:

    Refer to lender

    Criteria description:

    Indicates if we specify a minimum income coverage ratio (ICR) that cannot be exceeded with all mortgaged properties held with us.
  • Power of Attorneys

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider an applicant from someone acting as a power of attorney.

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications from an applicant that is acting with Power of Attorney.
  • Premium lease agreements (tenancies where a proportion of the rent is paid upfront)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept 'Premium Lease Agreements' where a prospective tenant is paying their rent as an advanced payment.

    Criteria description:

    Indicates if we can potentially consider applications where the applicant's tenant will be paying their rent as an advance payment. 
  • Previously Repossessed (years ago acceptable)

    Value:

    Not Acceptable years

    Criteria Policy Notes:

    Bath Building Society does not accept applications from borrowers who have previously had a property repossessed.

    Criteria description:

    Indicates if we can accept Buy to Let applications from applicants that have previously been repossessed and if so how many years need to have passed to be acceptable.
  • Properties with Asbestos

    Value:

    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.
  • Property Construction: 100% Timber Construction

    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.
  • Property Construction: BOPAS accreditation required for non-standard construction

    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 us
  • Property Construction: British Iron and Steel Federation (BISF)

    Value:

    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)
  • Property Construction: Concrete construction

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society will lend on concrete construction properties.

    Criteria description:

    Indicates if we are able to potentially accept concrete construction properties.

    Warning:

    Subject to valuers comments
  • Property Construction: Converted church

    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 church
  • Property Construction: Dutch barns

    Value:

    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 properties
  • Property Construction: EWS1 required on properties with combustible cladding or materials on balconies?

    Value:

    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 balconies
  • Property Construction: Easiform

    Value:

    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
  • Property Construction: Flying Freehold

    Value:

    Acceptable

    Criteria Policy Notes:

    No more than 20% flying freehold

    Criteria description:

    Indicates if we can potentially accept properties where there exists a flying freehold.

    Warning:

    No more than 20% flying freehold
  • Property Construction: Insulating concrete form (ICF)

    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)
  • Property Construction: Large Panel System (LPS)

    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)
  • Property Construction: Majority Flat Roof

    Value:

    Acceptable

    Criteria Policy Notes:

    Reliant on valuers comments

    Criteria description:

    Indicates if we can potentially able to accept Buy to Let applications on properties that have majority flat roof. We classify 'majority' as anything over 50%.

  • Property Construction: Modern method of construction (MMC)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society does 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 comments and being an accredited scheme
  • Property Construction: Mundic block

    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 valuers comments and petrographic test
  • Property Construction: No-Fines

    Value:

    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:

    Acceptable - subject to valuers comments.
  • Property Construction: Non repaired prefabricated reinforced concrete

    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.
  • Property Construction: Off site manufactured (MMC)

    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)
  • Property Construction: Potton Homes

    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 properties
  • Property Construction: Repaired prefabricated reinforced concrete

    Value:

    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.
  • Property Construction: Single skin

    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 properties
  • Property Construction: Steel framed

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on properties where the construction type is steel framed.

    Criteria description:

    Indicates if we can potentially accept steel framed properties as suitable lending security.

    Warning:

    Subject to valuers comments. Must be built post 1987
  • Property Construction: Structural Insulated Panel Solutions (SIPs)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on properties where the construction type is Structural Insulated Panel Solutions (SIPs).

    Criteria description:

    Indicates if we can potentially consider properties where the construction type is Structural Insulated Panel Solutions (SIPs)

    Warning:

    Subject to being BOPAS accredited
  • Property Construction: Thatched roof

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable - subject to valuers comments

    Criteria description:

    Indicates if we can potentially accept properties that have any element of a thatched roof.
  • Property Construction: Timber framed

    Value:

    Acceptable

    Criteria Policy Notes:

    Modern Timber Framed post 1970 acceptable but exterior wall must be brick/block/stone

    Criteria description:

    Indicates if we can potentially accept timber framed properties.
  • Property Construction: Timber framed (1900 to 1970)

    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 warranty.

    Criteria description:

    Indicates if we can potentially lend on a property that is of Timber-Framed construction built between 1900 to 1970 for Buy to Let applications.
  • Property Construction: Timber framed (Post 1970)

    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.

    Criteria description:

    Indicates if we can potentially lend on a property that is of Timber-Framed construction built after 1970 for Buy to Let applications.

    Warning:

    Subject to a full structural warranty.
  • Property Construction: Timber framed (Pre 1900)

    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 Buy to Let applications.
  • Property Construction: Tower Block with Cladding

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on flats in a tower block that has cladding.

    Criteria description:

    Indicates if we can potentially consider lending on a property in a tower block with cladding

    Warning:

    Will require an EWS1 form.
  • Property Construction: Wholly Timbered

    Value:

    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 property
  • Property Construction: Woolaway

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on a woolaway property

    Criteria description:

    Indicates if we can potentially consider a woolaway property

    Warning:

    If repaired with the benefit of NHBC or Zurich warranty.
  • Property Developers

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept Buy to Let applications from individuals they deem property developers.

    Criteria description:

    Indicates if we can potentially accept applications from property developers
  • Property Factors: Mine Shafts

    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 Buy to Let applications.
  • Property Factors: Property needing Refurbishment before Letting

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider a Buy to Let application where the property requires refurbishment before it can be Let.

    Criteria description:

    Indicates if we can potentially consider Buy to Let applications where refurbishment is required
  • Property Factors: Underpinned within last 10 years

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend of properties that have been underpinned in the last 10 years. Subject to a full structural warranty.

    Criteria description:

    Indicates if we can potentially lend on properties that have been underpinned in the last 10 years on Buy to Let applications
  • Property Issues: Overage Clause

    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 Clause
  • Property Ownership: Possessory Title

    Value:

    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 Buy to Let applications for properties that only have possessory title.
  • Property Ownership: Shared access or shared services

    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 services

    Warning:

    PLEASE NOTE WE CANNOT CONSIDER SHARED ACCESS WITH FAMILY MEMBERS
  • Property Ownership: Splitting of a title deed on completion

    Value:

    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 completion
  • Property Ownership: Tenancy in Common with Unequal Shares

    Value:

    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 Buy to Let 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%.
  • Property Ownership: Trust

    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 Buy to Let applications for properties that are owned by a trust.
  • Property Type: Basement flat

    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 flat
  • Property Type: Coach house

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on coach houses

    Criteria description:

    Indicates if we can potentially consider a coach house property
  • Property Type: Ex local auth flat/maisonette

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not lend on ex local authority flats or maisonettes.

    Criteria description:

    Indicates if we can potentially able to lend on ex local authority flats/maisonettes.
  • Property Type: Ex local authority house/bungalow

    Value:

    Acceptable

    Criteria Policy Notes:

    Must be 75% privately owned.
    Non standard construction properties not accepted.


    Criteria description:

    Indicates if we can potentially lend on ex local authority houses/bungalows.

    Warning:

    Non standard construction properties not accepted.
    Flats not accepted
  • Property Type: Flat above commercial food outlet

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on flats above commercial food outlets.

    Criteria description:

    Indicates if we can potentially accept flats above a commercial food outlet.

    Warning:

    Case by case basis we will look at. Fast food outlets, betting shops not acceptable. Other commercial outlets considered
  • Property Type: Flat above commercial offices

    Value:

    Acceptable

    Criteria Policy Notes:

    Max 70% ltv case by case basis

    Criteria description:

    Indicates if we can potentially accept flats that are above commercial offices.
  • Property Type: Flat above commercial pub

    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.
  • Property Type: Freehold flats and maisonettes

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not lend on freehold flats and maisonettes in England & Wales.

    Criteria description:

    Indicates if we can potentially accept a flat or maisonette where the tenure is freehold.
  • Property Type: Studio Flat Minimum Floor Area (Sq Metres)

    Value:

    30

    Criteria Policy Notes:

    Our minimum square metre requirement when lending on studio flats is 30 sqm.

    Criteria description:

    Indicates the area in square metres required when lending on studio flats for Buy to Let lending.
  • Property Type: Studio flat

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can lend on studio flats.

    Criteria description:

    Indicates if we can potentially lend on studio flats.

    Warning:

    Must have a minimum of 30 sqm
  • Property being purchased at auction

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society will consider a Buy to Let 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 auction
  • Property with Restrictive Covenant Section 106

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not lend on properties that have a section 106 restrictive covenant.

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications on properties that are subject to a Section 106 restrictive covenant.
  • Property with acreage

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on properties with acreage.

    Criteria description:

    Indicates if we can potentially accept properties that have a significant amount of land (properties that have acreage).

    Warning:

    As long as no commercial activity is taking place. Up to 6 acres max
  • Property with deck access

    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.
  • Property with more than one kitchen

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on properties that have more than one kitchen

    Criteria description:

    Indicates if we can 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:

    Case by case basis. Would need to know full details of the property
  • Purchase and rent back to the builders as a show home

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider a Buy to Let application where the applicant will purchase a new build property and rent back to the builders as a show home

    Criteria description:

    Indicates if we can potentially consider a Buy to Let application where the applicant will purchase a new build property and rent back to the builders as a show home
  • Purchase applications where existing tenants will remain in the property

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept situations on purchase applications where there is a tenant in situ at the property where it is the intention to allow them to remain as the ongoing tenant.

    The tenant must be occupying the property on an AST

    Criteria description:

    Indicates if we can potentially accept situations where the property being purchased on a Buy to Let basis has an existing tenant who wishes to remain in the property and therefore vacant possession on completion would not exist.
  • Purchase from Individual Name to Limited Company (Related Transaction)

    Value:

    Acceptable

    Criteria Policy Notes:

    Must be at arms length:
    Full Purchase price / value
    Full deposit must be provided by the company
    Maximum of 70% LTV

    Criteria description:

    Indicates if we can potentially accept an application where a Limited Company wishes to purchase a property from one of its directors or shareholders. This is typically referred to as a 'Related Transaction'.

    Warning:

    At arms length, so would they would require the deposit.
  • Purchase from Limited Company to Individual Name (Related Transaction)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society cannot lend to LTD companies

    Criteria description:

    Indicates if we can potentially accept an application where the purchaser is looking to purchase a property from a limited company for which he/she is a shareholder.

    Warning:

    Purchase would have to be "at arms length".
  • Regulated Buy to Let (Let to Family Member)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept 'Regulated Buy to Let' applications.

    Criteria description:

    Indicates if we can potentially consider Buy to Let applications where the intention is to Let the property to a family member.

    Warning:

    Refer to lender
  • Remortgage Purpose: 100% Staircase Shared Ownership to Let to Buy

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider remortgage applications with capital raising to staircase their Shared Ownership property and then Let the property on a Buy to Let basis with us.

    Criteria description:

    Indicates if we will allow capital raising on an applicant's current shared ownership residential property for the purpose of staircasing to 100% and take their ownership to 100% and then Letting the property.
  • Remortgage Purpose: Business Purposes

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider remortgage applications with capital raising for business purposes.

    Criteria description:

    Indicates if we can potentially consider a Buy to Let application when the reason for capital raising is considered for 'Business Related Purposes'.
  • Remortgage Purpose: Home Improvements (other property)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can consider remortgage applications with capital raising for home improvements on another property owned by the applicant.
    This would be agreed on an exception basis and we would require quotes of the works to be completed.

    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 Buy to Let applications.
  • Remortgage Purpose: Purchase Commercial Property

    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 Buy to Let applications.
  • Remortgage Purpose: Purchase Overseas Property

    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 Buy to Let applications.
  • Remortgage Purpose: Repay Help to Buy and Let the Property

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider remortgage applications with capital raising to repay their Help to Buy equity loan and then Let the property on a Buy to Let basis with us.

    Criteria description:

    Indicates if we will allow capital raising on an applicant's current residential property that has a Help to Buy Equity Loan present for the purpose of repaying (IN FULL) their Help to Buy Equity Loan, take their ownership to 100% and then Let the property.
  • Remortgage purpose: Buy to Let Purchase (maximum LTV)

    Value:

    75 percentage

    Criteria Policy Notes:

    75% 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.
  • Remortgage purpose: Capital raise for BTL where property not yet found

    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.
  • Remortgage purpose: Debt Consolidation (maximum LTV)

    Value:

    70 percentage

    Criteria Policy Notes:

    no more than 50% of current income can be raised for debt consolidation

    Criteria description:

    Indicates the maximum loan to value (LTV) we will accept where there is an element of debt consolidation on a remortgage application.

    Warning:

    no more than 50% of current income can be raised for debt consolidation
  • Remortgage purpose: Extending a lease

    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 lease
  • Remortgage purpose: Home Improvements (maximum LTV)

    Value:

    80 percentage

    Criteria Policy Notes:

    80% 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 property improvements.
  • Remortgage purpose: Land Purchase (maximum LTV)

    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 Buy to Let applications.
  • Remortgage purpose: Lifestyle (holidays, car's, non essential spending etc)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not 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)
  • Remortgage purpose: Medical expenses

    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 expenses
  • Remortgage purpose: Personal investments (not property related)

    Value:

    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 investments
  • Remortgage purpose: School/Education fees

    Value:

    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 fees
  • Remortgage waiting period

    Value:

    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. 
  • Repayment (Capital & Interest)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially offer Buy to Let mortgages on a 'Repayment (Capital & Interest)' basis.

    Criteria description:

    Indicates if we accept mortgages on a Repayment basis (Capital & Interest) for Buy to Let applications.
  • Restricted Sale Price

    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 Buy to Let mortgage on a property that has a 'Restricted Sale Price' clause.
  • Retrospective New Build Warranty

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider retrospective new build warranties.

    Criteria description:

    Indicates if we can potentially lend on 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.

    Warning:

    Underwriter discretion on warranty. Would need to see a copy of the policy upfront
  • Returning to UK - Employed

    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 employment.

    Criteria description:

    Indicates if we can potentially accept Buy to Let 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) who is returning from a non UK address to the UK.
  • Returning to UK - Self-Employed

    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 Buy to Let 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 who is returning from a non UK address to the UK and would essentially have zero UK trading history.
  • Sale and Rent Back

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept 'Sale and Rent Back' transactions.

    Criteria description:

    Indicates if we can potentially accept a sale and rent back transaction where the vendor sells the property (usually at a discount), remains in the property and pays a rent to the new owner.
  • Sharia Compliant Mortgages

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not offer Sharia compliant mortgages.

    Criteria description:

    Indicates if we can offer Sharia compliant Buy to Let mortgages.
  • Simultaneous First and Second Charge

    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 Buy to Let application where there will be a simultaneous completion of a second charge.
  • Soft Footprint on Credit Search?

    Value:

    No (Full Footprint)

    Criteria Policy Notes:

    Bath Building Society leaves a full/hard search footprint when performing a credit search.

    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).
  • Solar Panels

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society will potentially consider properties with solar panels where the solar panels form part of the freehold of a building.

    Criteria description:

    Indicates if we can potentially accept properties that have had solar panels installed.

    Warning:

    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.
  • Sole application joint proprietor

    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.
  • Source of deposit: Builders 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 in
  • Source of deposit: Concessionary

    Value:

    Acceptable

    Criteria Policy Notes:

    Providing the correct amount of stamp duty is paid

    Criteria description:

    Indicates if we can accept applications that are considered a concessionary purchase
  • Source of deposit: Gift From Immediate Family

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to bath Building Society

    Criteria description:

    Indicates if we can accept a gift from an immediate family member as an acceptable source of deposit.
  • Source of deposit: Gifted NOT from Immediate Family

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept this type of deposit.

    Criteria description:

    Indicates if we can accept a gift as a deposit source outside of immediate family members such as a friend, employer or cousin for example.
  • Source of deposit: Mortgage on additional property

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to bath Building Society

    Criteria description:

    Indicates if we can accept monies raised from the mortgage of an additional property as an acceptable source of deposit.
  • Source of deposit: Originated outside of EEA

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept this type of deposit.

    Criteria description:

    Indicates if can potentially accept deposits that have originated outside of the European Economic Area (EEA) as an acceptable source of deposit.
  • Source of deposit: Unsecured Loan

    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 total 25% deposit and borrow a 75% mortgage. 5% of the total deposit is a bank loan.
  • Split Mortgage Terms

    Value:

    Acceptable

    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.
  • Student Let Valuation

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not use the student Let rental valuation for affordability as opposed to the open market rental valuation.

    Criteria description:

    Indicates if we can potentially use the student Let rental valuation as opposed to the open market valuation to a typical tenant (family, couples, etc)
  • Telecommunications Adverse Ignored

    Value:

    No

    Criteria Policy Notes:

    Bath Building Society will not ignore telecommunications adverse.

    Criteria description:

    Indicates if we can potentially ignore telecommunications adverse credit on Buy to Let applications.
  • Tenants: Asylum Seekers

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applications where the property will be let to an Asylum seeker

    Criteria description:

    Indicates if we can potentially consider applications from borrowers that wish to Let the property to an Asylum Seeker.
  • Tenants: Corporate Lets/Company Lets

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society do not accept properties that are to be Let on a Corporate/Company Let basis.

    Criteria description:

    Indicates if we an potentially consider applications from borrowers that wish to Let the property on a Corporate Let or Company Let
  • Tenants: DSS/Housing Benefit

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society does accept DSS/Housing benefit tenants. Maximum 60% ltv and stress tested at 150%

    Criteria description:

    Indicates if we can potentially consider applications from borrowers that wish to Let the property to DSS/Housing Benefit tenants
  • Tenants: Holiday Lets

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society will accept Holiday Lets properties. We have a specific holiday let product.

    Criteria description:

    Indicates if we can potentially consider applications from borrowers that wish to Let the property on a Holiday Let basis.

    Warning:

    Holiday Let sites not available
  • Tenants: Housing Association Lets

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept Housing Association tenants.

    Criteria description:

    Indicates if we can potentially consider applications from borrowers that wish to Let the property to Housing Association tenants.
  • Tenants: Letting whole property via AirBnB

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not allow borrowers to Let properties on a Buy to Let basis via AirBnB or similar

    Criteria description:

    Indicates if we can potentially consider applications from borrowers that wish to Let the entire property via services such as AirBnB and similar.
  • Tenants: Multiple Tenancies

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider a Buy to Let application with multiple tenancies. Applicants would have to choose from one of our HMO properties.

    Criteria description:

    Indicates if we can potentially consider applications from borrowers that wish to have multiple tenancies on a Buy to Let property.
  • Tenants: Protected Tenancies

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applications where the tenant enjoys a 'Protected Tenancy'.

    Criteria description:

    Indicates if we can potentially consider applications from borrowers that wish to Let the property to a tenant who is benefiting from a protected tenancy.
  • Tenants: Serviced Properties

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applications where the property will be Let as a 'Serviced Property'.

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications on properties that are considered 'Serviced Properties'. These are typically furnished properties that are Let on a short term basis and the rent covers all amenities including the rent.
  • Tenants: Student Lets?

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially allow applicants to Let their Buy to Let property to Students.

    Criteria description:

    Indicates if we can potentially consider applications from borrowers that wish to Let the property to students
  • Tenants: Third Party/Company (where the third party/company is Sub-Letting the property)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applications where the property will be Let to a third party who will in turn Sublet the property.

    Criteria description:

    Indicates if we can potentially consider Buy to Let applications where the tenant will be (or is) a third party who pays a rent to the applicant and acts as the primary tenant but Sub-Lets the property. This is sometimes referred to as 'Rent to Rent'.
  • Transitional Arrangements Offered

    Value:

    Yes

    Criteria Policy Notes:

    Bath Building Society can potentially offer Buy to Let mortgages on a transitional arrangement basis.

    Criteria description:

    Indicates if we can potentially offer Buy to Let mortgages on a transitional arrangement as defined by the FCA under MCOB 11.8
  • Unadopted Roads

    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 roads
  • Unauthorized Overdraft Charges

    Value:

    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 Buy to Let applications from 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 clients recent bank statements.
  • Undervalue transactions

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept this type of situation.

    Criteria description:

    Indicates if we can potentially accept applications where the transaction constitutes an undervalue transaction.
  • Unemployed Applicants

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider Buy to Let applications for unemployed applicants

    Criteria description:

    Indicates if we can potentially consider Buy to Let applications for unemployed applicants.
  • Visas: Family Visa (Spousal etc)

    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.
  • Visas: Minimum number months remaining on visa

    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 BTL applications
  • Visas: Working Visa (Tier 1 - Investors, entrepreneurs and talent visas)

    Value:

    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 a buy to let application from an applicant that holds a Working Tier 1 Visa. These visas can be issued to Entrepreneurs, Exceptional Talents, Graduate Entrepreneurs, and Investors.
  • Visas: Working Visa (Tier 2 - Long-term work visas)

    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 a buy to let 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.
  • ICR Rental Calculation (Income Coverage Ratio): (purchases) (Basic Rate Tax Payers)

    Value:

    5.5% stressed at 125%

    Criteria Policy Notes:

    Basic Rate tax payer stressed at 125%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Standard Purchase
    • Tax Band Applied = Basic (based on the highest rate of all applicants)
    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • Expat Buy to Let

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept Expat Buy to Let business.

    Criteria description:

    Indicates if we can potentially consider Buy to Let applications from expats.
  • Limited Company Buy to Let

    Value:

    Accepted

    Criteria Policy Notes:

    Bath Building Society can consider Ltd Company Buy to Let applications up to 70% LTV

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications from Limited Companies

    Warning:

    The Limited Company must have been set up and running for 3 years
  • House of Multiple Occupation (HMO's)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society cannot consider applications on 'Houses of Multiple Occupation (HMO)'.

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications on Houses of Multiple Occupation (HMOs)
  • Tenants: Holiday Lets

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society will accept Holiday Lets properties. We have a specific holiday let product.

    Criteria description:

    Indicates if we can potentially consider applications from borrowers that wish to Let the property on a Holiday Let basis.

    Warning:

    Holiday Let sites not available
  • Multi Unit Freehold (multiple properties on same title)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on 'Multi Unit Freehold' properties.

    Criteria description:

    Indicates if we can potentially lend on single title multi-unit properties
  • Expat minimum income

    Value:

    We do not accept Expat Buy to Let applications

    Criteria Policy Notes:

    Bath Building Society does not accept Ex-Pat applications.

    Criteria description:

    Indicates if we have a minimum income requirement when assessing expat applications and if so what is it
  • Property with acreage

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on properties with acreage.

    Criteria description:

    Indicates if we can potentially accept properties that have a significant amount of land (properties that have acreage).

    Warning:

    As long as no commercial activity is taking place. Up to 6 acres max
  • ICR Rental Calculation (Income Coverage Ratio): (purchases) (Basic Rate Tax Payers) 5 YEAR FIX

    Value:

    4% stressed at 125%

    Criteria Policy Notes:

    The calculation is based on the actual or expected rental. Rent must cover 125% of the ‘stressed mortgage payments’ for basic rate tax payers, or 145% for higher rate tax payers. The stressed mortgage payment is based on the fixed rate for the 5 year fixed rate product; for the discounted product it is the discounted rate +2% or 5.5% whichever is higher.

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Standard Purchase
    • Tax Band Applied = Basic (based on the highest rate of all applicants)
    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • First Time Landlords

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept Buy to Let applications from 'First Time Landlords'.

    Criteria description:

    Indicates if we can potentially consider applications from First Time Landlords.
  • First Time Buyers

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept Buy to Let applications from 'First Time Buyers'

    Criteria description:

    Indicates if we can potentially consider applications from First Time Buyers.
  • Repayment (Capital & Interest)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially offer Buy to Let mortgages on a 'Repayment (Capital & Interest)' basis.

    Criteria description:

    Indicates if we accept mortgages on a Repayment basis (Capital & Interest) for Buy to Let applications.
  • Can Consider Earned Income in Rental Assessment (Topslicing)

    Value:

    Yes

    Criteria Policy Notes:

    Bath Building Society may be able to consider earned income in affordability assessment.

    Criteria description:

    Indicates if we can potentially consider applicants earned income in addition to the rental income for a property when calculating the maximum mortgage that can be borrowed.
  • HMO Maximum LTV

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We do no accept HMO applications

    Criteria description:

    Indicates the maximum LTV we can consider for Buy to Let applications on HMO properties
  • Age Limits: Maximum Age at End of Mortgage Term

    Value:

    No Maximum years

    Criteria Policy Notes:

    No max for buy to lets

    Criteria description:

    Indicates the absolute maximum age we will lend to.
  • Age Limits: Minimum Age at Application

    Value:

    21 years

    Criteria Policy Notes:

    21 for Buy to Let applications

    Criteria description:

    The minimum age we will accept when assessing an applicant.
  • Maximum number of applicants allowed

    Value:

    4

    Criteria Policy Notes:

    4

    Criteria description:

    The maximum number of applicants able to go on a Buy to Let mortgage application.
  • ICR Rental Calculation (Income Coverage Ratio): (purchases) (Higher Rate Tax Payers) 5 YEAR FIX

    Value:

    4% stressed at 145%

    Criteria Policy Notes:

    The calculation is based on the actual or expected rental. Rent must cover 125% of the ‘stressed mortgage payments’ for basic rate tax payers, or 145% for higher rate tax payers. The stressed mortgage payment is based on the fixed rate for the 5 year fixed rate product; for the discounted product it is the discounted rate +2% or 5.5% whichever is higher.

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Standard Purchase
    • Tax Band Applied = Higher (based on the highest rate of all applicants)
    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (purchases) (Higher Rate Tax Payers)

    Value:

    5.5% stressed at 145%

    Criteria Policy Notes:

    The calculation is based on the actual or expected rental. Rent must cover 125% of the ‘stressed mortgage payments’ for basic rate tax payers, or 145% for higher rate tax payers. The stressed mortgage payment is based on the fixed rate for the 5 year fixed rate product; for the discounted product it is the discounted rate +2% or 5.5% whichever is higher.

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Standard Purchase
    • Tax Band Applied = Higher (based on the highest rate of all applicants)
    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (purchases) (Additional Rate Tax Payers)

    Value:

    5.5% stressed at 145%

    Criteria Policy Notes:

    The calculation is based on the actual or expected rental. Rent must cover 125% of the ‘stressed mortgage payments’ for basic rate tax payers, or 145% for higher rate tax payers. The stressed mortgage payment is based on the fixed rate for the 5 year fixed rate product; for the discounted product it is the discounted rate +2% or 5.5% whichever is higher.

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances: 
    • Type = Standard Purchase
    • Tax Band Applied = Additional Rate (based on the highest rate of all applicants)
    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (purchases) (Additional Rate Tax Payers) 5 YEAR FIX

    Value:

    4% stressed at 145%

    Criteria Policy Notes:

    The calculation is based on the actual or expected rental. Rent must cover 125% of the ‘stressed mortgage payments’ for basic rate tax payers, or 145% for higher rate tax payers. The stressed mortgage payment is based on the fixed rate for the 5 year fixed rate product; for the discounted product it is the discounted rate +2% or 5.5% whichever is higher.

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Standard Purchase 
    • Tax Band Applied = Additional Rate (based on the highest rate of all applicants)
    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • House/Bungalow Maximum LTV (New Build)

    Value:

    75 percentage

    Criteria Policy Notes:

    Bath Building Society can potentially lend up to 75% on new build houses/bungalows.

    Criteria description:

    Indicates the maximum potential loan to value (LTV) we can accept where the property type is a NEW BUILD house/bungalow.
  • Flat/Maisonette Maximum LTV (Standard)

    Value:

    75 percentage

    Criteria Policy Notes:

    Bath Building Society can lend on flats and maisonettes to a maximum of 75% LTV

    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.
  • Arrears (secured/mortgage)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society does accept applicants with a maximum of up to 1 month in arrears within the last 3 years

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications from applicants that have a history of mortgage or secured loan arrears.
  • Arrears (unsecured)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept applicants with previous unsecured loan arrears.

    Criteria description:

    Indicates if we are able to potentially accept Buy to Let  applications where one or more applicant(s) has a history of unsecured loan arrears.
  • County Court Judgements (CCJs) (Satisfied) potentially accepted

    Value:

    Acceptable

    Criteria Policy Notes:

    CCJ's must be satisfied for 3 years or more. Anything under £500 may be considered if a blip or valid explanation.i.e Parking ticket that escalted into a ccj. To be satisfied on completion. Underwriter discretion.

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications from applicants that have had/or have satisfied CCJs registered against their name.
  • County Court Judgements (CCJs) (Unsatisfied) potentially accepted

    Value:

    Acceptable

    Criteria Policy Notes:

    Accepted if under £500 and a valid explanation. Must be satisfied on completion. All other credit history must be clean
    i.e mobile phone, parking ticket that has escalated into a ccj

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications from applicants that have had/or have unsatisfied CCJs registered against their name. 
  • Debt Management Plan (Current/Unsatisfied)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not accept applicants who have a current/unsatisfied debt management plan.

    Criteria description:

    Indicates if we can potentially accept a Buy to Let application from an applicant who is currently in a debt management plan.
  • Debt Management Plan (satisfied)

    Value:

    Acceptable

    Criteria Policy Notes:

    Accepted if cleared 5 years or more

    Criteria description:

    Indicates if we can potentially accept a Buy to Let application from an applicant who has previously had a debt management plan that is now satisfied.
  • Defaults (satisfied) potentially accepted

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept applicants who have previous satisfied defaults on a case by case basis. Must be registered over 2 years ago and satisfied on application.

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications from applicants that have had/or have satisfied defaults registered against their name.
  • Defaults (unsatisfied) potentially accepted

    Value:

    Acceptable

    Criteria Policy Notes:

    Registered over 2 years ago. Must be satisfied on application. £250.00 or less considered. Case by case basis.

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications from applicants that have had/or have unsatisfied defaults registered against their name
  • Discharged Bankrupt (years)

    Value:

    2 years

    Criteria Policy Notes:

    Bath Building Society can potentially accept a discharged bankrupt if the bankruptcy has been registered over 3 years ago and discharged for at least 2 years.

    Criteria description:

    Displays if we can accept discharged bankrupts on Buy to Let applications and if so how long a client has to have been discharged for. 
  • Individual Voluntary Arrangements (IVA)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not accept applicants who have had a previous IVA.

    Criteria description:

    Specifies if we are able to potentially consider a Buy to Let application from an applicant who has previously had an Individual Voluntary Arrangement (IVA) registered against them. 

    IMPORTANT NOTE: An IVA usually stays on the credit file for 6 years from the date it was REGISTERED not from the date it was satisfied which typically occurs 5 years after the date the IVA was entered into (the registered date). This is important because some lenders will specify how long it must have been satisfied for and others will use how long ago it was registered.

    This criteria displays if a person who has had an IVA can be considered on a general level but you should read the policy notes and related criteria carefully to dig deeper with regard your clients specific situation.


  • Address History (Min UK address history needed)

    Value:

    36 months

    Criteria Policy Notes:

    3 years minimum

    Criteria description:

    This is the required number of months we specify a client has to have had a UK address history for. 
  • Property Type: Freehold flats and maisonettes

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not lend on freehold flats and maisonettes in England & Wales.

    Criteria description:

    Indicates if we can potentially accept a flat or maisonette where the tenure is freehold.
  • Flat/Maisonette Maximum LTV (New Build)

    Value:

    75 percentage

    Criteria Policy Notes:

    Bath Building Society can lend on New build flat and maisonettes to a maximum of 75% LTV


    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.
  • Individual Voluntary Arrangements - IVA (Years satisfied)

    Value:

    Not Acceptable years

    Criteria Policy Notes:

    Bath Building Society will not accept applicants who have had a previous IVA.

    Criteria description:

    Displays if we accept Buy to Let applications from 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. 

    IMPORTANT NOTE: An IVA usually stays on the credit file for 6 years from the date it was REGISTERED not from the date it was satisfied which typically occurs 5 years after the date the IVA was entered into (the registered date). This is important because some lenders will specify how long it must have been satisfied for and others will use how long ago it was registered.

    This criteria displays how long ago it must have been satisfied so you should read the policy notes carefully to check if the lenders specifies how long ago it must have been registered.


  • Individual Voluntary Arrangements - IVA (Years since registered)

    Value:

    3 years

    Criteria Policy Notes:

    must have been satisfied for at least 3 years

    Criteria description:

    Displays if we accept Buy to Let applications from 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. 

    IMPORTANT NOTE: An IVA usually stays on the credit file for 6 years from the date it was REGISTERED not from the date it was satisfied which typically occurs 5 years after the date the IVA was entered into (the registered date). This is important because some lenders will specify how long it must have been satisfied for and others will use how long ago it was registered. 

    This criteria displays how long ago it must have been registered so you must read the policy notes carefully to check if the lender specifies how long ago it must have been satisfied as well.

    Warning:

    must have been satisfied for at least 3 years
  • Unauthorized Overdraft Charges

    Value:

    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 Buy to Let applications from 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 clients recent bank statements.
  • Debt Related: Payday loan (current)

    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 a Buy to Let application from a borrower who is currently in a payday loan credit agreement
  • Debt Related: Payday loan (previous)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society does accept applicants that have had a previous payday loan must be clear for at least 12 months

    Criteria description:

    Indicates if we can potentially accept a Buy to Let application from a borrower who has had a payday loan in the past but is not currently in a payday loan credit agreement.
  • Credit Checks with Callcredit

    Value:

    no

    Criteria Policy Notes:

    Bath Building Society does not use Callcredit as a credit reference agency when assessing applications

    Criteria description:

    Indicates if we use Callcredit as a credit reference agency when assessing applications.
  • Credit Checks with Equifax

    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.
  • Credit Checks with Experian

    Value:

    No

    Criteria Policy Notes:

    Bath Building Society does not use Experian as a credit reference agency when assessing applications

    Criteria description:

    Indicates if we use Experian as a credit reference agency when assessing Buy to Let applications.
  • Let to Buy (Remortgage current residential to Buy to Let)

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if we can potentially accept applications to remortgage onto a buy to let basis when the current mortgage is residential.
  • Maximum Term (Years)

    Value:

    40 years

    Criteria Policy Notes:

    40 years maximum term

    Criteria description:

    Indicates the maximum term a Buy to Let mortgage can be taken over.
  • Minimum Term (Years)

    Value:

    5 years

    Criteria Policy Notes:

    5 years

    Criteria description:

    Indicates the minimum term a Buy to Let mortgage can be taken over.
  • Remortgage purpose: Balance Swap (maximum LTV)

    Value:

    80 percentage

    Criteria Policy Notes:

    80% max ltv for £ 4 £ re-mortgage

    Criteria description:

    Indicates the maximum loan to value (LTV) a Buy to Let we can accept where the remortgage purpose is a simple balance swap (no additional monies being raised).
  • Remortgage purpose: Buy to Let Purchase (maximum LTV)

    Value:

    75 percentage

    Criteria Policy Notes:

    75% 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.
  • Remortgage purpose: Debt Consolidation (maximum LTV)

    Value:

    70 percentage

    Criteria Policy Notes:

    no more than 50% of current income can be raised for debt consolidation

    Criteria description:

    Indicates the maximum loan to value (LTV) we will accept where there is an element of debt consolidation on a remortgage application.

    Warning:

    no more than 50% of current income can be raised for debt consolidation
  • Remortgage purpose: Home Improvements (maximum LTV)

    Value:

    80 percentage

    Criteria Policy Notes:

    80% 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 property improvements.
  • Remortgage waiting period

    Value:

    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. 
  • Soft Footprint on Credit Search?

    Value:

    No (Full Footprint)

    Criteria Policy Notes:

    Bath Building Society leaves a full/hard search footprint when performing a credit search.

    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).
  • Undervalue transactions

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept this type of situation.

    Criteria description:

    Indicates if we can potentially accept applications where the transaction constitutes an undervalue transaction.
  • Can extend mortgage offer

    Value:

    Yes

    Criteria Policy Notes:

    Offers valid for 4 months. Can go past this by a few weeks - underwriter discretion

    Criteria description:

    Indicates if we can potentially extend a clients mortgage offer beyond the standard expiry.
  • Minimum Loan Size

    Value:

    50000

    Criteria Policy Notes:

    £50k

    Criteria description:

    Indicates the minimum loan size (if there is one) that we accept for new applications.
  • Offer expiry time (New Build)

    Value:

    120 days

    Criteria Policy Notes:

    All offers are valid for 4 months

    Criteria description:

    Displays the number of days a NEW BUILD Buy to Let mortgage offer is valid for.
  • Offer expiry time (Standard)

    Value:

    120 days

    Criteria Policy Notes:

    4 months

    Criteria description:

    Displays the number of days a STANDARD Buy to Let mortgage offer is valid for.
  • Overpayment facility as standard (percentage)

    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 on our Buy to Let mortgages. 

  • Portable mortgages as standard

    Value:

    Yes

    Criteria Policy Notes:

    All Bath Building Society mortgages are full portable

    Criteria description:

    Indicates if our Buy to Let mortgages are portable as standard.
  • Lending Location: Channel Islands

    Value:

    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 Buy to Let lending on properties located in the Channel Islands.
  • Lending Location: England

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if we can potentially consider Buy to Let lending on properties located in England.
  • Lending Location: Isle of Man

    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.
  • Lending Location: Isle of Wight

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if we can potentially consider lending on properties located on the Isle of Wight
  • Lending Location: Northern Ireland

    Value:

    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.
  • Lending Location: Scilly Isles

    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.
  • Lending Location: Scotland

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society lends on properties in Scotland.

    Criteria description:

    Indicates if we can potentially consider lending on properties located in Scotland.

    Warning:

    Exclusions are Retirement Interest Only / Right to Buy & Shared Ownership
    No lending on flats or properties with a lease.
  • Lending Location: Wales

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if we can potentially consider lending on properties located in Wales.
  • Maximum number of storeys considered for lending on flats

    Value:

    6

    Criteria Policy Notes:

    Maximum 6 stories but anything over 4 stories needs to be lift served

    Criteria description:

    Indicates the maximum number of storeys we can consider when lending on high rise flats.

    Warning:

    Anything over 4 stories needs to be lift served.
  • Maximum number of storeys considered for lending on ex local authority flats

    Value:

    Not Acceptable

    Criteria Policy Notes:

    We dont lend on ex-local authority flats

    Criteria description:

    Indicates the maximum number of stories we can consider when lending on ex local authority high rise flats.
  • Minimum remaining lease at application

    Value:

    55 years

    Criteria Policy Notes:

    Interest Only must have a minimum of 80 years at end of the mortgage term, repayment must have a minimum of 50 years

    Criteria description:

    Indicates the minimum required lease remaining at date of application we can potentially accept. 

    Warning:

    Lease must have 50 years left from the natural term end of the mortgage
  • Minimum remaining lease at end of term

    Value:

    50 years

    Criteria Policy Notes:

    Interest Only must have a minimum of 80 years at end of the mortgage term, repayment must have a minimum of 50 years

    Criteria description:

    Indicates the minimum required lease remaining at the end of the mortgage term we can potentially accept.
  • Minimum Property Value for standard Buy to Let lending

    Value:

    100000

    Criteria Policy Notes:

    £100k
    If slightly less we can still look at

    Criteria description:

    Indicates if we have a minimum property value they require for new Buy to Let applications.
  • Property Construction: 100% Timber Construction

    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.
  • Property Construction: Concrete construction

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society will lend on concrete construction properties.

    Criteria description:

    Indicates if we are able to potentially accept concrete construction properties.

    Warning:

    Subject to valuers comments
  • Property Type: Ex local auth flat/maisonette

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not lend on ex local authority flats or maisonettes.

    Criteria description:

    Indicates if we can potentially able to lend on ex local authority flats/maisonettes.
  • Property Construction: Easiform

    Value:

    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
  • Property Type: Ex local authority house/bungalow

    Value:

    Acceptable

    Criteria Policy Notes:

    Must be 75% privately owned.
    Non standard construction properties not accepted.


    Criteria description:

    Indicates if we can potentially lend on ex local authority houses/bungalows.

    Warning:

    Non standard construction properties not accepted.
    Flats not accepted
  • Property Type: Flat above commercial food outlet

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on flats above commercial food outlets.

    Criteria description:

    Indicates if we can potentially accept flats above a commercial food outlet.

    Warning:

    Case by case basis we will look at. Fast food outlets, betting shops not acceptable. Other commercial outlets considered
  • Property Type: Flat above commercial offices

    Value:

    Acceptable

    Criteria Policy Notes:

    Max 70% ltv case by case basis

    Criteria description:

    Indicates if we can potentially accept flats that are above commercial offices.
  • Property Type: Flat above commercial pub

    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.
  • Property Construction: Modern method of construction (MMC)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society does 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 comments and being an accredited scheme
  • Property Construction: Mundic block

    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 valuers comments and petrographic test
  • Property Construction: No-Fines

    Value:

    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:

    Acceptable - subject to valuers comments.
  • Property Construction: Non repaired prefabricated reinforced concrete

    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.
  • Property Construction: Repaired prefabricated reinforced concrete

    Value:

    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.
  • Property Construction: Steel framed

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on properties where the construction type is steel framed.

    Criteria description:

    Indicates if we can potentially accept steel framed properties as suitable lending security.

    Warning:

    Subject to valuers comments. Must be built post 1987
  • Property Type: Studio flat

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can lend on studio flats.

    Criteria description:

    Indicates if we can potentially lend on studio flats.

    Warning:

    Must have a minimum of 30 sqm
  • Property Construction: Thatched roof

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable - subject to valuers comments

    Criteria description:

    Indicates if we can potentially accept properties that have any element of a thatched roof.
  • Property Construction: Timber framed

    Value:

    Acceptable

    Criteria Policy Notes:

    Modern Timber Framed post 1970 acceptable but exterior wall must be brick/block/stone

    Criteria description:

    Indicates if we can potentially accept timber framed properties.
  • Property with deck access

    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.
  • Property Construction: Flying Freehold

    Value:

    Acceptable

    Criteria Policy Notes:

    No more than 20% flying freehold

    Criteria description:

    Indicates if we can potentially accept properties where there exists a flying freehold.

    Warning:

    No more than 20% flying freehold
  • Property Construction: Majority Flat Roof

    Value:

    Acceptable

    Criteria Policy Notes:

    Reliant on valuers comments

    Criteria description:

    Indicates if we can potentially able to accept Buy to Let applications on properties that have majority flat roof. We classify 'majority' as anything over 50%.

  • Property with Restrictive Covenant Section 106

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not lend on properties that have a section 106 restrictive covenant.

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications on properties that are subject to a Section 106 restrictive covenant.
  • Property Type: Studio Flat Minimum Floor Area (Sq Metres)

    Value:

    30

    Criteria Policy Notes:

    Our minimum square metre requirement when lending on studio flats is 30 sqm.

    Criteria description:

    Indicates the area in square metres required when lending on studio flats for Buy to Let lending.
  • Property with more than one kitchen

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on properties that have more than one kitchen

    Criteria description:

    Indicates if we can 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:

    Case by case basis. Would need to know full details of the property
  • Properties with Asbestos

    Value:

    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.
  • HMO Unlicensed Acceptable

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We do not accept HMO applications

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications on Houses of Multiple Occupation (HMOs) that are 'unlicensed'
  • HMO Minimum Property Value

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We do not accept HMO applications

    Criteria description:

    Indicates if we specify a minimum property value for HMO properties and if so what it is.
  • Age Limits: Maximum Age AT POINT OF APPLICATION

    Value:

    No limit years

    Criteria Policy Notes:

    No maximum age but affordability must be proven into retirement.

    Criteria description:

    Indicates the maximum age we can accept an applicant to be at the time of an application to be considered for a Buy to Let application.
  • Tenants: DSS/Housing Benefit

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society does accept DSS/Housing benefit tenants. Maximum 60% ltv and stress tested at 150%

    Criteria description:

    Indicates if we can potentially consider applications from borrowers that wish to Let the property to DSS/Housing Benefit tenants
  • Maximum Loan to Value (LTV)

    Value:

    75 percentage

    Criteria Policy Notes:

    Bath Building Society has a maximum of 75% LTV on BTL.

    Criteria description:

    Indicates the maximum LTV we can consider for Buy to Let applications
  • Maximum length of time of assured shorthold tenancy (AST)

    Value:

    No Maximum

    Criteria Policy Notes:

    All property must be let under a standard Assured Shorthold Tenancy. There is no maximum amount of time.

    Criteria description:

    Indicates the maximum number of months we specify is required on an Assured Shorthold Tenancy (AST)
  • Minimum Income Requirement

    Value:

    20000

    Criteria Policy Notes:

    Bath Building Society has a minimum income of £20,000 after commitments.

    Criteria description:

    Indicates if we have a minimum income requirement for Buy to Let applications and if so what it is.
  • Solar Panels

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society will potentially consider properties with solar panels where the solar panels form part of the freehold of a building.

    Criteria description:

    Indicates if we can potentially accept properties that have had solar panels installed.

    Warning:

    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.
  • Foreign Nationals (with 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 have indefinite leave to remain
  • Foreign Nationals (WITHOUT indefinite leave to remain)

    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.
  • Back to Back (Remortgage - Bridging)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept back to back remortgages 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.

    Back to Back (Remortgage - Bridging) indicates if we will accept applications where the customer has funded the purchase from a bridging loan and now wish to mortgage the property.
  • Back to back (Remortgage - Customer Funded)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept back to back remortgages 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.

    Back to back (Remortgage - Customer Funded) indicates if a we will accept applications where the customer has funded the purchase from their own funds and now wish to mortgage the property with a Buy to Let mortgage typically within 6 months of ownership. 
    For example Josh recently purchased a property at auction and now wants to remortgage the property to release funds.
  • Back to back (Remortgage - Inherited)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept back to back remortgages of this nature.

    Criteria description:

    Back to back (Remortgage - Inherited) indicates if we can accept applications where the customer has inherited a property and now wish to mortgage it on a Buy to Let basis typically within 6 months of ownership.

  • Contract Reassignment

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept applications where contract reassignment exists

    Criteria description:

    Indicates if we can potentially accept a situation whereby the purchaser is looking to buy a new build property from a third party (not the builder/developer). 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.
  • Credit Scores?

    Value:

    No

    Criteria Policy Notes:

    We credit search but not credit score. Manual underwriting applies

    Criteria description:

    Indicates if we use 'credit scoring' to assess a client(s) mortgage application usually at agreement in principle (AIP) stage.
  • Source of deposit: Builders 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 in
  • Source of deposit: Concessionary

    Value:

    Acceptable

    Criteria Policy Notes:

    Providing the correct amount of stamp duty is paid

    Criteria description:

    Indicates if we can accept applications that are considered a concessionary purchase
  • Source of deposit: Gift From Immediate Family

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to bath Building Society

    Criteria description:

    Indicates if we can accept a gift from an immediate family member as an acceptable source of deposit.
  • Source of deposit: Gifted NOT from Immediate Family

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept this type of deposit.

    Criteria description:

    Indicates if we can accept a gift as a deposit source outside of immediate family members such as a friend, employer or cousin for example.
  • Source of deposit: Mortgage on additional property

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to bath Building Society

    Criteria description:

    Indicates if we can accept monies raised from the mortgage of an additional property as an acceptable source of deposit.
  • Source of deposit: Originated outside of EEA

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept this type of deposit.

    Criteria description:

    Indicates if can potentially accept deposits that have originated outside of the European Economic Area (EEA) as an acceptable source of deposit.
  • Source of deposit: Unsecured Loan

    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 total 25% deposit and borrow a 75% mortgage. 5% of the total deposit is a bank loan.
  • Joint application sole proprietor

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not 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.
  • Japanese Knotweed

    Value:

    Acceptable

    Criteria Policy Notes:

    If Japanese Knotweed or any other invasive species is identified within 7 metres of the property, the application may be declined.

    The Underwriter will have discretion to proceed subject to a suitable eradication program being in place with a member of the Property Care Association (PCA) with an insurance backed warranty

    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.
  • New Build Warranty: AEDIS

    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 for us on new build properties.
  • New Build Warranty: Build Assure

    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 for us on new build properties.
  • New Build Warranty: Building Life Plans

    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 for us on new build properties.
  • New Build Warranty: Buildzone

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if Buildzone is an acceptable new build warranty for us on new build properties.
  • New Build Warranty: Checkmate (Castle 10)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society accepts Ceckmate Castle 10 as an acceptable new build warranty.

    Criteria description:

    Indicates if Checkmate (Castle 10) is an acceptable new build warranty for us on new build properties.
  • New Build Warranty: CRL Management Ltd

    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 for us on new build properties.
  • New Build Warranty: Global Home Warranties

    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 for us on new build properties.
  • New Build Warranty: LABC

    Value:

    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 for us on new build properties.
  • New Build Warranty: NHBC Guarantee

    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 for us on new build properties.
  • New Build Warranty: Premier Guarantee Scheme

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if Premier Guarantee Scheme is an acceptable new build warranty for us on new build properties.
  • New Build Warranty: Professional Consultants Certificate

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society will accept Professional Consultants Certificate as an acceptable new build warranty.

    Criteria description:

    Indicates if Professional Consultants Certificate is an acceptable new build warranty for us on new build properties.
  • New Build Warranty: Protek

    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 for us on new build properties.
  • New Build Warranty: Q Assure Build

    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 for us on new build properties.
  • New Build Warranty: Zurich Municipal "New Build"

    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 for us on new build properties.
  • Expat UK Credit Profile Required

    Value:

    We do not accept Expat Buy to Let applications

    Criteria Policy Notes:

    Bath Building Society does not accept Ex-pat applications.

    Criteria description:

    Indicates if we require expats to have a UK credit profile
  • Permission to Self Occupy Holiday Let Property

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society will allow borrowers to 'self occupy' their Holiday Let property up to 60 days a year

    Criteria description:

    Indicates if we can potentially consider applications from borrowers that wish to Let the property on a Holiday Let basis and occupy the property themselves from time to time. For example whilst the property is predominantly Let on a Holiday Let a few weeks a year the applicant would like to stay in the property.
  • Limited Company (Trading) Min Trading Period

    Value:

    36 months

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    Indicates if there is a minimum trading period for 'Trading Limited Companies' and if so how long IN MONTHS this is.
  • HMO Maximum Number of Storeys

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We do not accept HMO applications

    Criteria description:

    Indicates the maximum number of storeys permitted on HMO properties.
  • Portfolio Applicants Minimum Income Requirement

    Value:

    20000

    Criteria Policy Notes:

    Minimum income £20,000 after all personal debts

    Criteria description:

    Indicates if we specifiy a minimum income an applicant must earn in order to be considered for a Buy to Let mortgage where the applicant is considered a portfolio landlord.
  • Full Time Landlord

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept applications from 'Full Time Landlords'.

    Criteria description:

    Indicates if we can potentially lend to what we consider to be professional landlords. Typically a professional landlord is an applicant whose main income source is from their rental income from property.
  • Tenants: Housing Association Lets

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept Housing Association tenants.

    Criteria description:

    Indicates if we can potentially consider applications from borrowers that wish to Let the property to Housing Association tenants.
  • Regulated Buy to Let (Let to Family Member)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept 'Regulated Buy to Let' applications.

    Criteria description:

    Indicates if we can potentially consider Buy to Let applications where the intention is to Let the property to a family member.

    Warning:

    Refer to lender
  • Lending against Uplifted Value following Refurbishment Works

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not use the uplifted value in this situation.

    Criteria description:

    Indicates if we can potentially offer a remortgage and use the uplifted value of the property following recent works of improvement. For example, Jon purchases a property for £150,000 and spend a couple of months doing the place up following which the property is now worth £250,000. Jon now wants to find a lender who will allow him to raise capital based on the newly enhanced value.
  • Premium lease agreements (tenancies where a proportion of the rent is paid upfront)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept 'Premium Lease Agreements' where a prospective tenant is paying their rent as an advanced payment.

    Criteria description:

    Indicates if we can potentially consider applications where the applicant's tenant will be paying their rent as an advance payment. 
  • Property Developers

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept Buy to Let applications from individuals they deem property developers.

    Criteria description:

    Indicates if we can potentially accept applications from property developers
  • Tenants: Letting whole property via AirBnB

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not allow borrowers to Let properties on a Buy to Let basis via AirBnB or similar

    Criteria description:

    Indicates if we can potentially consider applications from borrowers that wish to Let the entire property via services such as AirBnB and similar.
  • Minimum length of time of assured shorthold tenancy (AST)

    Value:

    6

    Criteria Policy Notes:

    6 Months minimum.

    Criteria description:

    Indicates the minimum number of months we specify is required on an Assured Shorthold Tenancy (AST)
  • Previously Repossessed (years ago acceptable)

    Value:

    Not Acceptable years

    Criteria Policy Notes:

    Bath Building Society does not accept applications from borrowers who have previously had a property repossessed.

    Criteria description:

    Indicates if we can accept Buy to Let applications from applicants that have previously been repossessed and if so how many years need to have passed to be acceptable.
  • Purchase applications where existing tenants will remain in the property

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept situations on purchase applications where there is a tenant in situ at the property where it is the intention to allow them to remain as the ongoing tenant.

    The tenant must be occupying the property on an AST

    Criteria description:

    Indicates if we can potentially accept situations where the property being purchased on a Buy to Let basis has an existing tenant who wishes to remain in the property and therefore vacant possession on completion would not exist.
  • Non Owner Occupier

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept Buy to Let applications from 'Non Owner Occupiers'.

    Criteria description:

    Indicates if we can potentially accept an applicant that is a non-owner occupier for a Buy to Let application. 
    This is not to be confused with a First Time Buyer or First Time Landlord.
  • Consumer Buy to Let (position and definition)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept applicants classed as a 'Consumer Buy to Let (CBTL)'

    Criteria description:

    Indicates if we can lend when we consider the transaction to be a 'Consumer Buy to Let (CBTL)' and what our definition of a consumer buy to let is. A CBTL is often referred to as an accidental landlord.
  • Expat Regulated Buy to Let (Let to Family Member)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept Buy to Let mortgages from Expat applicants where the property will be Let to Family Member(s)

    Criteria description:

    Indicates if we can consider expat buy to let applications where the intention is to Let to a family member
  • HMO First Time Landlord

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We do not accept HMO applications

    Criteria description:

    Indicates if we can consider a Buy to Let application on an HMO property from a first time landlord.
  • Purchase from Individual Name to Limited Company (Related Transaction)

    Value:

    Acceptable

    Criteria Policy Notes:

    Must be at arms length:
    Full Purchase price / value
    Full deposit must be provided by the company
    Maximum of 70% LTV

    Criteria description:

    Indicates if we can potentially accept an application where a Limited Company wishes to purchase a property from one of its directors or shareholders. This is typically referred to as a 'Related Transaction'.

    Warning:

    At arms length, so would they would require the deposit.
  • Multi Unit Freehold Maximum Number of Flats

    Value:

    No Maximum

    Criteria Policy Notes:

    Bath Building will accept these type of property on a case by case basis.

    Criteria description:

    Indicates the maximum number of units permitted on a single title multi unit property
  • Purchase from Limited Company to Individual Name (Related Transaction)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society cannot lend to LTD companies

    Criteria description:

    Indicates if we can potentially accept an application where the purchaser is looking to purchase a property from a limited company for which he/she is a shareholder.

    Warning:

    Purchase would have to be "at arms length".
  • Limited Company (SPV) Minimum trading period

    Value:

    No Minimum months

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    Indicates if there is a minimum trading period for 'Special Purpose Vehicle Limited Companies' and if so how long IN MONTHS this is.
  • Limited Company (Trading) shareholders required to provide personal guarantees

    Value:

    Yes

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 75% LTV

    Criteria description:

    Indicates if we require shareholders in a 'Trading' Limited Company to provide personal guarantees as well as the 'Directors'.
  • Limited Company Maximum Age of Director / Shareholder / Applicant at application

    Value:

    No Maximum

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    Indicates the maximum age an applicant can be at application.
  • ICR Rental Calculation for Limited Companies (Income Coverage Ratio) Less than 5 yr fix

    Value:

    5.5% stressed at 145%

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:

    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = YES

    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation for Limited Companies (Income Coverage Ratio) 5 yr fix

    Value:

    3.7% stressed at 125%

    Criteria Policy Notes:

    Bath Building Society can accept LTD company BTL and Holiday let applications.
    Rent must cover 125% at the current payrate (3.69%)

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:

    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = YES

    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • Limited Company (Trading) maximum number of applicants

    Value:

    4

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    Indicates the maximum number of applicants we can consider when lending to Trading Limited Companies
  • Limited Company (SPV) maximum number of applicants

    Value:

    4

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    Indicates the maximum number of applicants we can consider when lending to Special Purpose Vehicle Limited Companies.
  • Limited Company Buy to Let (Special Purpose Vehicle SPV)

    Value:

    Accepted

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications from Limited Companies where the Ltd company is set up as a 'Special Purpose Vehicle (SPV)'.
  • Limited Company (SPV) shareholders required to provide personal guarantees

    Value:

    Yes

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 75% LTV

    Criteria description:

    Indicates if we require shareholders in a 'Special Purpose Vehicle' Limited Company to provide personal guarantees as well as the 'Directors'.
  • Can use actual existing rent when higher than valuers estimate

    Value:

    Yes

    Criteria Policy Notes:

    Bath Building Society can potentially consider the current rent received from the current tenant for affordability assessment when it exceeds the valuers estimate.

    Criteria description:

    Indicates if we can potentially use the actual rent received from an existing tenant when it is higher than the valuer's estimate. For example, this situation could arise on remortgage applications where, in the valuer's opinion, the market rent is lower than what the landlord is currently receiving.
  • Can use valuers rental estimate even if higher than actual existing rent

    Value:

    Yes

    Criteria Policy Notes:

    Bath Building Society can use the valuers rental estimate even if it is higher than actual rent received by the current tenant(s)

    Criteria description:

    Indicates if we can potentially use the valuer's estimate when assessing loan affordability even if the actual rent being received is less than the estimate. For example, this situation could arise on remortgage applications where the existing tenant is paying below the market estimate (based on the valuer's rental valuation).
  • Limited Company (SPV) applicant definition

    Value:

    Directors & Shareholders

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    Indicates if we consider both 'Directors AND Shareholders' as applicants or 'Directors' only when assessing applications from Special Purpose Vehicle Ltd Companies.
  • Limited Company Buy to Let (Trading Company - No SPV)

    Value:

    Accepted

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications from Trading Limited Companies. Trading Limited Companies are companies that are not set up exclusively for the purpose of buying property for example a trading ltd company that sells furniture as its primary function.
  • Limited Company (Trading) applicant definition

    Value:

    Directors & Shareholders

    Criteria Policy Notes:

    The Society will consider applications from a Limited Company subject to the following:

    • The company must have a minimum 3-year trading history (SPV’s are acceptable with no trading history providing they exist solely for the purpose of property letting)
    • We require a copy of the Memorandum of Association and Articles of Association showing that the Company has the authority to raise a mortgage and hold freehold or leasehold estate
    • We require a copy of the Certificate of Incorporation
    • A copy of the Resolution of the Board will be required confirming agreement to the mortgage
    • Layered companies will not usually be acceptable
    • A personal guarantee will be taken from all Directors
    • The Company must be registered in the UK and all Directors must reside in the UK
    • The Society will usually require separate legal representation for new borrowers
    • Maximum 70% LTV

    Criteria description:

    Indicates if we consider both 'Directors AND Shareholders' as applicants or 'Directors' only when assessing applications from Trading Ltd Companies.
  • HMO Maximum Number of Bedrooms

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We do not accept HMO applications

    Criteria description:

    Indicates if we have a maximum number of bedrooms allowed on HMO properties and if so how many
  • HMO Maximum Number of Kitchens

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We do not accept HMO applications

    Criteria description:

    Indicates the maximum number of kitchens permitted by us in an HMO property
  • HMO Minimum Single Bedroom Square Metre

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We do not accept HMO applications

    Criteria description:

    Indicates if we have a minimum square metreage requirement on a single bedroom and if so what it is.
  • HMO Minimum Double Bedroom Square Metre

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We do not accept HMO applications

    Criteria description:

    Indicates if we have a minimum square metreage requirement on a double bedroom and if so what it is.
  • Multi Unit Minimum Floor Area of each Unit Requirement (Sq Meters)

    Value:

    No Minimum

    Criteria Policy Notes:

    Refer to lender.

    Criteria description:

    Indicates if there is a minimum square meterage requirement on a single title multi unit property
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages balance swap) (Additional Rate Tax Payers)

    Value:

    3.75% stressed at 145%

    Criteria Policy Notes:

    x145% x3.74%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage Balance Swap
    • Tax Band Applied = Additional Rate (based on the highest rate of all applicants)
    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • HMO Minimum Applicant Experience

    Value:

    We do not accept HMO applications months

    Criteria Policy Notes:

    We do not accept HMO applications

    Criteria description:

    Indicates if we require applicants to have a minimum HMO experience and if so how much (IN MONTHS)
  • Portfolio Landlord Minimum Experience

    Value:

    No Minimum months

    Criteria Policy Notes:

    No minimum experience requirement.

    Criteria description:

    Indicates if we require a minimum amount of experience (IN MONTHS) if lending to what we consider to be a portfolio landlord.
  • Tenants: Student Lets?

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially allow applicants to Let their Buy to Let property to Students.

    Criteria description:

    Indicates if we can potentially consider applications from borrowers that wish to Let the property to students
  • Sale and Rent Back

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept 'Sale and Rent Back' transactions.

    Criteria description:

    Indicates if we can potentially accept a sale and rent back transaction where the vendor sells the property (usually at a discount), remains in the property and pays a rent to the new owner.
  • Lender or Group Maximum Number of Mortgages

    Value:

    No Maximum

    Criteria Policy Notes:

    No maximum whole portfolio must be self financing.

    Criteria description:

    Indicates if we have a maximum number of mortgages a borrower can have with us or within our group. 
  • Maximum Aggregate Portfolio LTV (within group or lender)

    Value:

    75

    Criteria Policy Notes:

    Refer to lender.

    Criteria description:

    Indicates if we specify a maximum LTV of all properties owned by the applicants that are mortgaged to them or their group.
  • Lender or Group Lending Limit

    Value:

    1500000

    Criteria Policy Notes:

    Won't lend over £1.5 million.

    Criteria description:

    Indicates if we have a maximum exposure limit a borrower can have with us or within our group.
  • Tenants: Corporate Lets/Company Lets

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society do not accept properties that are to be Let on a Corporate/Company Let basis.

    Criteria description:

    Indicates if we an potentially consider applications from borrowers that wish to Let the property on a Corporate Let or Company Let
  • Maximum number of tenants on an assured shorthold tenancy (AST)

    Value:

    4

    Criteria Policy Notes:

    Bath Building Society can consider applications where there are no more than 4 tenants on the Assured Shorthold Tenancy (AST).

    Criteria description:

    Indicates the maximum number of tenants permitted by us on a single Assured Shorthold Tenancy
  • Ownership of Adjoining Property (Related Transaction)

    Value:

    Acceptable

    Criteria Policy Notes:

    Refer to lender.

    Criteria description:

    Indicates if we can potentially lend on a property where the adjoining property is also owned by one of the applicants.
  • Portfolio Minimum Income Coverage Ratio (ICR) Requirement (within group or lender)

    Value:

    4% stressed at 145%

    Criteria Policy Notes:

    Refer to lender

    Criteria description:

    Indicates if we specify a minimum income coverage ratio (ICR) that cannot be exceeded with all mortgaged properties held with us.
  • Maximum LTV across the whole portfolio

    Value:

    75

    Criteria Policy Notes:

    Refer to lender.

    Criteria description:

    Indicates if we specify a maximum LTV of all properties owned by the applicants across their entire portfolio. This includes mortgages held with the lender and group and all other mortgages held with other lenders.
  • House/Bungalow Maximum LTV (Standard)

    Value:

    75 percentage

    Criteria Policy Notes:

    Bath Building Society can lend on houses/bungalows to a maximum of 75% LTV

    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.
  • Maximum number of rental properties MORTGAGED with ALL lenders

    Value:

    No Maximum

    Criteria Policy Notes:

    Bath Building Society has no maximum limit to the number of Buy to Let mortgages applicants hold with other lenders.

    Criteria description:

    Indicates if there is a maximum number of mortgaged Buy to Let properties and if so how many, an applicant can have in the background. 
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages balance swap) (Additional Rate Tax Payers) 5 YEAR FIX

    Value:

    4% stressed at 145%

    Criteria Policy Notes:

    x145% x3.99%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage Balance Swap
    • Tax Band Applied = Additional Rate (based on the highest rate of all applicants)
    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages balance swap) (Basic Rate Tax Payers)

    Value:

    3.75% stressed at 125%

    Criteria Policy Notes:

    x125% x3.75%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage Balance Swap
    • Tax Band Applied = Basic (based on the highest rate of all applicants)
    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages balance swap) (Basic Rate Tax Payers) 5 YEAR FIX

    Value:

    4% stressed at 125%

    Criteria Policy Notes:

    x125% x3.99%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage Balance Swap
    • Tax Band Applied = Basic (based on the highest rate of all applicants)
    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages balance swap) (Higher Rate Tax Payers)

    Value:

    3.75% stressed at 145%

    Criteria Policy Notes:

    x145% x3.74%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage Balance Swap
    • Tax Band Applied = Higher (based on the highest rate of all applicants)
    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages balance swap) (Higher Rate Tax Payers) 5 YEAR FIX

    Value:

    4% stressed at 145%

    Criteria Policy Notes:

    x145% x3.99%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage Balance Swap
    • Tax Band Applied = Higher (based on the highest rate of all applicants)
    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages with extra borrowing) (Additional Rate Tax Payers)

    Value:

    5.5% stressed at 145%

    Criteria Policy Notes:

    x145% x5.5%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage with Extra Borrowing
    • Tax Band Applied = Additional Rate (based on the highest rate of all applicants)
    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages with extra borrowing) (Additional Rate Tax Payers) 5 YEAR FIX

    Value:

    4% stressed at 145%

    Criteria Policy Notes:

    x145% x3.99%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage with Extra Borrowing
    • Tax Band Applied = Additional Rate (based on the highest rate of all applicants)
    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages with extra borrowing) (Basic Rate Tax Payers)

    Value:

    5.5% stressed at 125%

    Criteria Policy Notes:

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage with Extra Borrowing
    • Tax Band Applied = Basic (based on the highest rate of all applicants)
    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages with extra borrowing) (Basic Rate Tax Payers) 5 YEAR FIX

    Value:

    4% stressed at 125%

    Criteria Policy Notes:

    x125% x3.99%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage with Extra Borrowing
    • Tax Band Applied = Basic (based on the highest rate of all applicants)
    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages with extra borrowing) (Higher Rate Tax Payers)

    Value:

    5.5% stressed at 145%

    Criteria Policy Notes:

    x145% x5.5%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage with Extra Borrowing
    • Tax Band Applied = Higher (based on the highest rate of all applicants)
    • 5 Year Fix Product = NO
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • ICR Rental Calculation (Income Coverage Ratio): (remortgages with extra borrowing) (Higher Rate Tax Payers) 5 YEAR FIX

    Value:

    4% stressed at 145%

    Criteria Policy Notes:

    x145% x3.99%

    Criteria description:

    This relates to the potential rental calculation a lender will apply in the following circumstances:
    • Type = Remortgage with Extra Borrowing
    • Tax Band Applied = Higher (based on the highest rate of all applicants)
    • 5 Year Fix Product = YES
    • HMO = NO
    • Ltd Company Buy to Let = NO
    The rate applied is only a guideline and you should check directly with us to ensure this calculation can be applied for your client(s)
  • Minimum ICR across the whole portfolio

    Value:

    4% stressed at 145%

    Criteria Policy Notes:

    Refer to lender.

    Criteria description:

    This relates to if we specify a minimum income coverage ratio (ICR) that cannot be exceeded across the customers entire portfolio including both properties mortgaged to us and to other lenders.
  • Offset Mortgages Available?

    Value:

    No

    Criteria Policy Notes:

    Bath Building Society does not offer offset mortgages.

    Criteria description:

    Indicates if we can offer Buy to Let offset mortgages (subject to product availability).
  • Sharia Compliant Mortgages

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not offer Sharia compliant mortgages.

    Criteria description:

    Indicates if we can offer Sharia compliant Buy to Let mortgages.
  • Advisor Own Application

    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 Buy to Let applications from an advisor wishing to apply for his or her own mortgage.
  • Minimum Landlord Experience (in MONTHS)

    Value:

    No Minimum months

    Criteria Policy Notes:

    Bath Building Society has no minimum experience requirement for applicants

    Criteria description:

    Indicates if we require a minimum amount of experience (IN MONTHS) when lending on Buy to Let applications
  • Foreign Nationals (Living Overseas)

    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 BUY TO LET 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 Buy to Let basis as an investment.
  • Unemployed Applicants

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider Buy to Let applications for unemployed applicants

    Criteria description:

    Indicates if we can potentially consider Buy to Let applications for unemployed applicants.
  • Returning to UK - Self-Employed

    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 Buy to Let 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 who is returning from a non UK address to the UK and would essentially have zero UK trading history.
  • Returning to UK - Employed

    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 employment.

    Criteria description:

    Indicates if we can potentially accept Buy to Let 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) who is returning from a non UK address to the UK.
  • Politically exposed persons

    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 Buy to Let applications from an applicant that is considered a politically exposed person.
  • Power of Attorneys

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider an applicant from someone acting as a power of attorney.

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications from an applicant that is acting with Power of Attorney.
  • Minimum Length of Time Employed (in MONTHS)

    Value:

    No Minimum months

    Criteria Policy Notes:

    Bath Building Society has no minimum length of time applicants need to have been in continuous employment. The applicant cannot be in a probation period.

    Criteria description:

    Specifies if there is a minimum number of months (if so how many) employed applicants must have been continuously employed on Buy to Let applications.
  • Retrospective New Build Warranty

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider retrospective new build warranties.

    Criteria description:

    Indicates if we can potentially lend on 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.

    Warning:

    Underwriter discretion on warranty. Would need to see a copy of the policy upfront
  • Restricted Sale Price

    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 Buy to Let mortgage on a property that has a 'Restricted Sale Price' clause.
  • Escalating Ground Rents

    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 Buy to Let applications for leasehold properties that have an escalating ground rent clause.
  • Energy Performance Rating (EPC) rating 'F' or 'G'

    Value:

    Not Acceptable

    Criteria Policy Notes:

    We do not accept Buy to Let mortgages on properties that have an EPC rating of 'F' or 'G'

    Criteria description:

    Indicates if we can potentially offer Buy to Let mortgages on properties that have an EPC rating of 'F' or 'G'
  • Property Factors: Underpinned within last 10 years

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend of properties that have been underpinned in the last 10 years. Subject to a full structural warranty.

    Criteria description:

    Indicates if we can potentially lend on properties that have been underpinned in the last 10 years on Buy to Let applications
  • Property Factors: Property needing Refurbishment before Letting

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider a Buy to Let application where the property requires refurbishment before it can be Let.

    Criteria description:

    Indicates if we can potentially consider Buy to Let applications where refurbishment is required
  • Property Construction: Timber framed (Post 1970)

    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.

    Criteria description:

    Indicates if we can potentially lend on a property that is of Timber-Framed construction built after 1970 for Buy to Let applications.

    Warning:

    Subject to a full structural warranty.
  • Property Construction: Timber framed (1900 to 1970)

    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 warranty.

    Criteria description:

    Indicates if we can potentially lend on a property that is of Timber-Framed construction built between 1900 to 1970 for Buy to Let applications.
  • Property Construction: Timber framed (Pre 1900)

    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 Buy to Let applications.
  • Property Factors: Mine Shafts

    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 Buy to Let applications.
  • Minimum Percentage of Properties under Private Ownership on Ex-Local Authority Blocks of Flats

    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 when assessing Buy to Let applications.
  • Maximum Ground Rent (as % of Property Value/Purchase Price)

    Value:

    No Maximum

    Criteria Policy Notes:

    Bath Building Society has no maximum threshold percentage against the property value that the ground rent cannot exceed.

    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 on Buy to Let applications. 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.
  • Property Ownership: Trust

    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 Buy to Let applications for properties that are owned by a trust.
  • Property Ownership: Tenancy in Common with Unequal Shares

    Value:

    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 Buy to Let 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%.
  • Property Ownership: Possessory Title

    Value:

    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 Buy to Let applications for properties that only have possessory title.
  • Estate Rentcharges

    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 Buy to Let applications for freehold properties where 'Estate Rent Charge' clauses exist.
  • Leasehold Property where No Separate Management Company Exists

    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 Buy to Let applications for leasehold properties where no separate management company exists.
  • Transitional Arrangements Offered

    Value:

    Yes

    Criteria Policy Notes:

    Bath Building Society can potentially offer Buy to Let mortgages on a transitional arrangement basis.

    Criteria description:

    Indicates if we can potentially offer Buy to Let mortgages on a transitional arrangement as defined by the FCA under MCOB 11.8
  • Tenants: Protected Tenancies

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applications where the tenant enjoys a 'Protected Tenancy'.

    Criteria description:

    Indicates if we can potentially consider applications from borrowers that wish to Let the property to a tenant who is benefiting from a protected tenancy.
  • Remortgage Purpose: Home Improvements (other property)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can consider remortgage applications with capital raising for home improvements on another property owned by the applicant.
    This would be agreed on an exception basis and we would require quotes of the works to be completed.

    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 Buy to Let applications.
  • ExPat Deposit source non-UK

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider expat applications where the source of deposit does not originate from the UK.

    Criteria description:

    Indicates if we can accept deposits that have originated outside of the European Economic Area (EEA) as an acceptable source of deposit for Expat Buy to Let applications.
  • Maximum debt to income ratio

    Value:

    No Maximum

    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 Buy to Let applications. For example, an applicant has outstanding unsecured debts of £26,000 and a salary of £40,000. Therefore their DTI is 65%.
  • Student Let Valuation

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not use the student Let rental valuation for affordability as opposed to the open market rental valuation.

    Criteria description:

    Indicates if we can potentially use the student Let rental valuation as opposed to the open market valuation to a typical tenant (family, couples, etc)
  • Remortgage purpose: Land Purchase (maximum LTV)

    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 Buy to Let applications.
  • Remortgage Purpose: Repay Help to Buy and Let the Property

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider remortgage applications with capital raising to repay their Help to Buy equity loan and then Let the property on a Buy to Let basis with us.

    Criteria description:

    Indicates if we will allow capital raising on an applicant's current residential property that has a Help to Buy Equity Loan present for the purpose of repaying (IN FULL) their Help to Buy Equity Loan, take their ownership to 100% and then Let the property.
  • Remortgage Purpose: Business Purposes

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider remortgage applications with capital raising for business purposes.

    Criteria description:

    Indicates if we can potentially consider a Buy to Let application when the reason for capital raising is considered for 'Business Related Purposes'.
  • Tenants: Multiple Tenancies

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider a Buy to Let application with multiple tenancies. Applicants would have to choose from one of our HMO properties.

    Criteria description:

    Indicates if we can potentially consider applications from borrowers that wish to have multiple tenancies on a Buy to Let property.
  • Tenants: Asylum Seekers

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applications where the property will be let to an Asylum seeker

    Criteria description:

    Indicates if we can potentially consider applications from borrowers that wish to Let the property to an Asylum Seeker.
  • Remortgage Purpose: Purchase Commercial Property

    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 Buy to Let applications.
  • Remortgage Purpose: Purchase Overseas Property

    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 Buy to Let applications.
  • Simultaneous First and Second Charge

    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 Buy to Let application where there will be a simultaneous completion of a second charge.
  • Let to Rent

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider Buy to Let remortgage applications where the property is currently the applicants main residence but will now be Let and the applicant will be moving into separate rented accomodation

    Criteria description:

    Indicates if we will allow an applicant to remortgage their current residential property onto a Buy to Let mortgage and then move into rented accomodation as opposed to purchasing a new main residence.
  • Remortgage Purpose: 100% Staircase Shared Ownership to Let to Buy

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider remortgage applications with capital raising to staircase their Shared Ownership property and then Let the property on a Buy to Let basis with us.

    Criteria description:

    Indicates if we will allow capital raising on an applicant's current shared ownership residential property for the purpose of staircasing to 100% and take their ownership to 100% and then Letting the property.
  • Tenants: Serviced Properties

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applications where the property will be Let as a 'Serviced Property'.

    Criteria description:

    Indicates if we can potentially accept Buy to Let applications on properties that are considered 'Serviced Properties'. These are typically furnished properties that are Let on a short term basis and the rent covers all amenities including the rent.
  • Tenants: Third Party/Company (where the third party/company is Sub-Letting the property)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applications where the property will be Let to a third party who will in turn Sublet the property.

    Criteria description:

    Indicates if we can potentially consider Buy to Let applications where the tenant will be (or is) a third party who pays a rent to the applicant and acts as the primary tenant but Sub-Lets the property. This is sometimes referred to as 'Rent to Rent'.
  • Financial Associates with Adverse

    Value:

    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 Buy to Let applications from an applicant who is financially associated with someone who has adverse credit.
  • Maximum Mortgage Arrears in last 24 Months

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider Buy to Let applicants with any mortgage arrears in the previous 24 months.

    Criteria description:

    Indicates if we can potentially accept Buy to Let 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.
  • Maximum Number of CCJs (Satisfied)

    Value:

    No Maximum

    Criteria Policy Notes:

    Bath Building Society can consider applicants with satisfied CCJs as long as they are satisfied.
    If they are satisfied within the last 3 years for no more than £250.

    Criteria description:

    Indicates if we can consider Buy to Let 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.
  • Maximum Unsecured Arrears in last 24 Months

    Value:

    2

    Criteria Policy Notes:

    Bath Building Society can potentially accept Buy to Let applicants with up to 2 months unsecured arrears in the past 24 months.

    Criteria description:

    Indicates if we can potentially accept Buy to Let 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.
  • Months passed where Mortgage Arrears can be ignored

    Value:

    60 months

    Criteria Policy Notes:

    Bath Building Society will not consider applicants with any mortgage arrears on their credit file within the last 5 years.

    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 Buy to Let mortgage applications.
  • Defaults registered over 36 Months ago

    Value:

    Potentially Ignored

    Criteria Policy Notes:

    Bath Building Society can potentially ignore any Defaults that were registered over 36 months ago on Buy to Let applications. If satisfied

    Criteria description:

    Indicates if we can potentially ignore Defaults that were registered more than 36 months ago on Buy to Let applications. 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.
  • Maximum Value of Defaults (Unsatisfied)

    Value:

    0

    Criteria Policy Notes:

    Bath Building Society will not consider applicants with unsatisfied Defaults.

    Criteria description:

    Indicates if we can potentially consider Buy to Let 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.
  • Maximum Number of CCJs (Unsatisfied)

    Value:

    0

    Criteria Policy Notes:

    Bath Building Society will not consider applicants with unsatisfied CCJs.

    Criteria description:

    Indicates if we can consider Buy to Let applications from applicants 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.
  • Historic CIFAS Record (Years)

    Value:

    Not Acceptable years

    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 Buy to Let applications from an applicant that is on the CIFAS register and if so, what time must have passed in order for them to be potentially accepted by the lender for a new mortgage application.
  • Defaults registered between 24 to 36 Months

    Value:

    Potentially Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider applicants that have had Defaults registered more than 24 months ago and less than 36 months ago on Buy to Let applications. If satisfied.

    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 on Buy to Let applications. 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.
  • Defaults registered between 12 to 24 Months

    Value:

    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 on Buy to Let applications.

    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 on Buy to Let applications. 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.
  • Defaults registered between 3 to 12 Months

    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 on Buy to Let applications.

    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 on Buy to Let applications. 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.
  • Defaults registered in last 3 Months

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applicants that have had Defaults registered in the past 3 months on Buy to Let applications.

    Criteria description:

    Indicates if we can potentially accept applicants that have had any Defaults registered in the past 3 months on Buy to Let applications.. 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.
  • Maximum Number of Defaults (Unsatisfied)

    Value:

    0

    Criteria Policy Notes:

    Bath Building Society will not consider applicants with unsatisfied Defaults.

    Criteria description:

    Indicates if we can consider Buy to Let applications from applicants 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.
  • Maximum Value of Defaults (Satisfied)

    Value:

    No Maximum

    Criteria Policy Notes:

    Bath Building Society can consider applicants with satisfied Defaults.

    Criteria description:

    Indicates if we can potentially consider Buy to Let 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.
  • Maximum Number of Defaults (Satisfied)

    Value:

    No Maximum

    Criteria Policy Notes:

    Bath Building Society can consider applicants with satisfied Defaults.

    Criteria description:

    Indicates if we can consider Buy to Let 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.
  • Arrangement to Pay

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applicants that have an arrangement to pay registered on their credit file.

    Criteria description:

    Indicates if we can potentially accept applicants that have an arrangement to pay registered on their credit file on Buy to Let applications.
  • Maximum Value of CCJs (Unsatisfied)

    Value:

    0

    Criteria Policy Notes:

    Bath Building Society will not consider applicants with unsatisfied CCJs.

    Criteria description:

    Indicates if we can consider Buy to Let 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.
  • CCJs registered over 36 Months ago

    Value:

    Potentially Ignored

    Criteria Policy Notes:

    Bath Building Society can potentially consider applicants that have had CCJs registered more than 12 months ago and less than 24 months ago on Buy to Let applications. The CCJ would have to be satisfied.

    Criteria description:

    Indicates if we can potentially ignore CCJs that were registered more than 36 months ago on Buy to Let applications. 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.
  • CCJs registered between 24 to 36 Months

    Value:

    Potentially Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider applicants that have had CCJs registered more than 12 months ago and less than 24 months ago on Buy to Let applications. The CCJ would have to be satisfied and for no more than £250.

    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 on Buy to Let applications. 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.
  • CCJs registered between 12 to 24 Months

    Value:

    Potentially Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider applicants that have had CCJs registered more than 12 months ago and less than 24 months ago on Buy to Let applications. The CCJ would have to be satisfied and for no more than £250.

    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 on Buy to Let applications. 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.
  • CCJs registered between 3 to 12 Months

    Value:

    Potentially Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider applicants that have had CCJs registered more than 12 months ago and less than 24 months ago on Buy to Let applications. The CCJ would have to be satisfied and for no more than £250.

    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 on Buy to Let applications. 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.
  • CCJs registered in last 3 Months

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applicants that have had CCJs registered in the past 3 months on Buy to Let applications.

    Criteria description:

    Indicates if we can potentially accept applicants that have had any CCJs registered in the past 3 months on Buy to Let applications.. 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.
  • Telecommunications Adverse Ignored

    Value:

    No

    Criteria Policy Notes:

    Bath Building Society will not ignore telecommunications adverse.

    Criteria description:

    Indicates if we can potentially ignore telecommunications adverse credit on Buy to Let applications.
  • Maximum Value of CCJs (Satisfied)

    Value:

    250

    Criteria Policy Notes:

    Bath Building Society can consider applicants with satisfied CCJs up to a maximum value of £250 unless its over 3 years.

    Criteria description:

    Indicates if we can potentially consider Buy to Let 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.
  • Covid-19: Fees waived for missed mortgage payments (not agreed payment holidays) due to Covid-19 difficulties

    Value:

    Yes

    Criteria Policy Notes:

    Bath Building Society will potentially waive fees for late payments on BTL mortgages that were due to payment difficulties related to the Covid-19 outbreak.

    Criteria description:

    Displays if we will consider waiving fees for late BTL mortgage payments that were due to payment difficulties related to the Covid-19 outbreak.
  • Covid-19: Are you offering a payment holiday?

    Value:

    Yes

    Criteria Policy Notes:

    Bath Building Society can potentially consider allowing BTL borrowers to take a payment holiday due to problems relating to the Covid-19 outbreak.

    Criteria description:

    Displays if we will allow BTL borrowers to take a payment holiday due to payment difficulties related to the Covid-19 outbreak.
  • HMO: Communal area in the property

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    Bath Building Society does not lend on 'Houses of Multiple Occupation (HMO)'.

    Criteria description:

    Indicates if we can potentially consider an HMO application without a communal area in the property
  • HMO rental valuation assessment

    Value:

    We do not accept HMO applications

    Criteria Policy Notes:

    We will not consider an HMO application

    Criteria description:

    Indicates if we can potentially use the HMO rental valuation as opposed to standard AST valuation for HMO applications
  • Covid-19: Will allow conversion to interest only?

    Value:

    Contact Lender

    Criteria Policy Notes:

    Bath Building Society can potentially consider allowing borrowers to convert their repayment mortgage to an interest-only basis to help assist with payment difficulties relating to the Covid-19 outbreak.

    Criteria description:

    Displays if we will allow BTL borrowers to convert their mortgage from repayment to interest-only due to payment difficulties related to the Covid-19 outbreak.
  • Covid-19: Policy

    Value:

    Yes

    Criteria Policy Notes:

    Please contact Bath Building Society should you have any difficulty in paying or need any help or assistance

    Criteria description:

    Displays if we have a Covid-19 policy for BTL lending and if so the details of it.
  • Applicants on Furlough

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider an application from applicants who are on furlough leave.

    Criteria description:

    Some Buy to Let lenders may not lend if you are currently on furlough leave. This search indicates which lenders can and which lenders can not potentially accept this situation.
  • Gambling (recurring transactions)

    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 BTL applications
  • Visas: Minimum number months remaining on visa

    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 BTL applications
  • Criminal Convictions

    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.
  • Expat: Holiday Lets

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept expat applications at this time.

    Criteria description:

    Indicates if we can potentially consider applications from expat borrowers that wish to Let the property on a Holiday Let basis.
  • Maximum number of stories where no lift is present

    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.
  • Property Type: Basement flat

    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 flat
  • Remortgage purpose: Extending a lease

    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 lease
  • Flying Freehold: Maximum acceptable percentage of the gross floor area

    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 us

    Warning:

    Agreed on a case by case basis.
  • Property Ownership: Splitting of a title deed on completion

    Value:

    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 completion
  • Property Construction: Tower Block with Cladding

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on flats in a tower block that has cladding.

    Criteria description:

    Indicates if we can potentially consider lending on a property in a tower block with cladding

    Warning:

    Will require an EWS1 form.
  • Property Construction: EWS1 required on properties with combustible cladding or materials on balconies?

    Value:

    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 balconies
  • Layered company Ltd BTL

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applications from a layered Ltd Companies.

    Criteria description:

    Indicates if we will consider a Limited Company Buy to Let application from a layered Ltd Company
  • Purchase and rent back to the builders as a show home

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider a Buy to Let application where the applicant will purchase a new build property and rent back to the builders as a show home

    Criteria description:

    Indicates if we can potentially consider a Buy to Let application where the applicant will purchase a new build property and rent back to the builders as a show home
  • New Build Warranty: ICW

    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 warranty
  • Property Construction: Converted church

    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 church
  • Property Construction: BOPAS accreditation required for non-standard construction

    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 us
  • Property Construction: British Iron and Steel Federation (BISF)

    Value:

    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)
  • Property Construction: Dutch barns

    Value:

    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 properties
  • Property Construction: Insulating concrete form (ICF)

    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)
  • Property Construction: Off site manufactured (MMC)

    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)
  • Property Construction: Potton Homes

    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 properties
  • Property Construction: Single skin

    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 properties
  • Property Construction: Structural Insulated Panel Solutions (SIPs)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on properties where the construction type is Structural Insulated Panel Solutions (SIPs).

    Criteria description:

    Indicates if we can potentially consider properties where the construction type is Structural Insulated Panel Solutions (SIPs)

    Warning:

    Subject to being BOPAS accredited
  • Property Construction: Wholly Timbered

    Value:

    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 property
  • Property Construction: Woolaway

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on a woolaway property

    Criteria description:

    Indicates if we can potentially consider a woolaway property

    Warning:

    If repaired with the benefit of NHBC or Zurich warranty.
  • Property Type: Coach house

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on coach houses

    Criteria description:

    Indicates if we can potentially consider a coach house property
  • Ex MOD properties

    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 property on a buy to let application.

    Warning:

    Please refer to lender.
  • Property Construction: Large Panel System (LPS)

    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)
  • Property Issues: Overage Clause

    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 Clause
  • Property Ownership: Shared access or shared services

    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 services

    Warning:

    PLEASE NOTE WE CANNOT CONSIDER SHARED ACCESS WITH FAMILY MEMBERS
  • Unadopted Roads

    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 roads
  • Remortgage purpose: Personal investments (not property related)

    Value:

    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 investments
  • Remortgage purpose: Lifestyle (holidays, car's, non essential spending etc)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not 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)
  • Remortgage purpose: Medical expenses

    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 expenses
  • Remortgage purpose: School/Education fees

    Value:

    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 fees
  • Remortgage purpose: Capital raise for BTL where property not yet found

    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.
  • Guaranteed rental scheme

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applications where a Guaranteed Rental Scheme will be set up

    Criteria description:

    Indicates if a we will consider applications on a Guaranteed Rent Scheme
  • Late Payments (Not Missed)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept applicants with previous 'Late Payments'.

    Criteria description:

    Indicates if a we can potentially consider buy to let applications from applicants who have a history of late payments (NOT REGISTERED AS MISSED) on any credit agreements they hold.

    Warning:

    Maximum of 2 within the last 24 months
  • Visas: Family Visa (Spousal etc)

    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.
  • Visas: Working Visa (Tier 1 - Investors, entrepreneurs and talent visas)

    Value:

    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 a buy to let application from an applicant that holds a Working Tier 1 Visa. These visas can be issued to Entrepreneurs, Exceptional Talents, Graduate Entrepreneurs, and Investors.
  • Debt Relief Order (Satisfied)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can accept Debt Relief Orders if the applicant has been clear for at least 12 months

    Criteria description:

    Indicates if we can consider an applicant with a satisfied debt relief order
  • Visas: Working Visa (Tier 2 - Long-term work visas)

    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 a buy to let 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.
  • Property being purchased at auction

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society will consider a Buy to Let 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 auction
  • Split Mortgage Terms

    Value:

    Acceptable

    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.
  • Sole application joint proprietor

    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.
  • Inter-family sales (no discount)

    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 buy to let application with no discount being offered
  • Income made up primarily of benefits

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will 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.