Skip to content Sitemap

Residential lending criteria

To search for an item in the Society’s lending criteria you can select Residential or Buy to Let criteria then search the relevant category, filter categories by sub category, search a topic or key word. If you have any further questions about our criteria, please contact the Intermediary team. The information on this page is updated daily via Criteria Hub.

  • 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 an applicant 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 residential applications from an advisor wishing to apply for his or her own mortgage.
  • Affordability Assessment: Additional Voluntary Pension Contributions

    Value:

    Can Be Ignored

    Criteria Policy Notes:

    Bath Building Society will ignore 'Additional Voluntary Pension Contributions' when assessing borrowers affordability.

    Criteria description:

    Indicates if we can potentially ignore additional voluntary pension contributions when assessing applicants expenditure for affordability purposes.
  • Affordability Assessment: Charitable Donations

    Value:

    Can Be Ignored

    Criteria Policy Notes:

    Bath Building Society will ignore 'Charitable Donations' when assessing borrowers affordability.

    Criteria description:

    Indicates if we can potentially ignore charitable donations when assessing applicants expenditure for affordability purposes.
  • Affordability Assessment: Child Care Vouchers

    Value:

    Not Ignored

    Criteria Policy Notes:

    Bath Building Society will include 'Child Care Vouchers' when assessing borrowers affordability.

    Criteria description:

    Indicates if we can potentially ignore childcare vouchers when assessing applicants expenditure for affordability purposes.
  • Affordability Assessment: Company Pension

    Value:

    Can Be Ignored

    Criteria Policy Notes:

    Bath Building Society will ignore 'Company Pension Contributions' when assessing borrowers affordability.

    Criteria description:

    Indicates if we can potentially ignore company pension contributions when assessing applicants expenditure for affordability purposes.
  • Affordability Assessment: Maintenance Payments

    Value:

    Not Ignored

    Criteria Policy Notes:

    Bath Building Society will include 'Maintenance Payments' when assessing borrowers affordability.

    Criteria description:

    Indicates if we can potentially ignore maintenance payments when assessing applicants expenditure for affordability purposes.
  • Affordability Assessment: Private Healthcare

    Value:

    Can Be Ignored

    Criteria Policy Notes:

    Bath Building Society will ignore 'Private Healthcare Payments' when assessing borrowers affordability.

    Criteria description:

    Indicates if we can potentially ignore private health care premiums when assessing applicants expenditure for affordability purposes.
  • Affordability Assessment: School Fees

    Value:

    Not Ignored

    Criteria Policy Notes:

    Bath Building Society will include 'School Fees' when assessing borrowers affordability.

    Criteria description:

    Indicates if we can potentially ignore school fees when assessing applicants expenditure for affordability purposes.
  • Affordability Assessment: Season Ticket Loans

    Value:

    Not Ignored

    Criteria Policy Notes:

    Bath Building Society will include 'Season Ticket Loans' when assessing borrowers affordability.

    Criteria description:

    Indicates if we can potentially ignore season ticket loans when assessing applicants expenditure for affordability purposes.
  • Affordability Assessment: Sharesave Schemes

    Value:

    Can Be Ignored

    Criteria Policy Notes:

    Bath Building Society will ignore 'Sharesave Schemes' when assessing borrowers affordability.

    Criteria description:

    Indicates if we can potentially ignore share save schemes when assessing applicants expenditure for affordability purposes.
  • Affordability Assessment: Student Loans

    Value:

    Not Ignored

    Criteria Policy Notes:

    Bath Building Society will include 'Student Loans' when assessing borrowers affordability.

    Criteria description:

    Indicates if we can potentially ignore student loans when assessing applicants expenditure for affordability purposes.
  • Age Limits: Interest Only Maximum Age at end of term

    Value:

    85

    Criteria Policy Notes:

    Bath Building Society allows Interest Only mortgages up until a maximum age of 85 for the oldest applicant.

    Criteria description:

    Indicates the maximum age at the end of the mortgage term we could consider for an interest only application on residential applications
  • Age Limits: Maximum Age AT POINT OF APPLICATION

    Value:

    80 years

    Criteria Policy Notes:

    Max age we can lend to is up to the age of 85 (unless on the RIO product)

    Criteria description:

    Indicates the maximum age (at the point of application) an applicant can be in order for them to be considered for an application with us.
  • Age Limits: Maximum Age at End of Mortgage Term

    Value:

    85 years

    Criteria Policy Notes:

    85 for residential mortgages
    No max for buy to lets

    Criteria description:

    Indicates the absolute maximum age we might lend to. In summary 'Age Limits: Maximum Age at End of Mortgage Term' indicates the age we can potentially lend up until if you meet all required criteria.
  • Age Limits: Maximum Age at End of Term for a Non Contributory Applicant

    Value:

    85 years

    Criteria Policy Notes:

    No max as long as they don't exceed aged 85 at the end of the term (must be agreed as an exception)

    Criteria description:

    Specifies the maximum age we can potentially accept for a non-contributing applicant. A non-contributing applicant is an applicant whose income is not factored into the affordability of the mortgage. 
  • Age Limits: Maximum Age at Term End Without Pension Proof ( max retirement age )

    Value:

    70 years

    Criteria Policy Notes:

    Proof of pension income will be required after age 70 or the applicants stated retirement age whichever is lower.

    Criteria description:

    Specifies the maximum age we might be able to accept before proof of acceptable pension income would be required. This figure can vary from applicant to applicant as it often depends upon other factors such as an applicant's planned retirement age. Therefore the value shown is the maximum age we may be able to lend to before pension proof would be required and assumes applicants planned retirement age is not sooner than our stated maximum.

  • Age Limits: Minimum Age at Application

    Value:

    18 years

    Criteria Policy Notes:

    18 for residential applications

    Criteria description:

    Specifies our minimum age at point of application requirement for residential mortgages. 
  • Age Limits: Retirement Interest Only (RIO) MAXIMUM Age at Application

    Value:

    No Maximum

    Criteria Policy Notes:

    Bath Building Society do not impose a maximum age for an applicant ON APPLICATION for Retirement Interest Only (RIO) mortgages.

    Criteria description:

    This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so, do we have a MAXIMUM AGE AT APPLICATION requirement.
  • Age Limits: Retirement Interest Only (RIO) Maximum Age at Term End

    Value:

    No Maximum

    Criteria Policy Notes:

    Bath Building Society does not have a maximum age for Retirement Interest Only mortgages.

    Criteria description:

    This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so, do we have a maximum age at the end of the term requirement. Mortgage lenders are not required to set a fixed term for the mortgage and so the repayment date can be when the borrower dies or goes into care, as with Lifetime Mortgages. 

  • Age Limits: Retirement Interest Only (RIO) Minimum Age at Application

    Value:

    55

    Criteria Policy Notes:

    Bath Building Society has a minimum age requirement on application for Retirement Interest Only (RIO) mortgages of 55

    Criteria description:

    This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so, do we have a minimum age requirement.
  • 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:

    Indicates if we are potentially able to accept an applicant who is currently on furlough leave.
  • Arrangement Fees Can Be Added When Exceeding LENDING LTV Limits

    Value:

    No

    Criteria Policy Notes:

    Bath Building Society does not allow fees to be added where it means the lending loan to value limits will be exceeded.

    Criteria description:

    Indicates if we allow borrowers to add the arrangement fee (where one is payable) to the mortgage advance where this will mean the max lending policy loan to value will be exceeded. 
  • Arrangement Fees Can Be Added When Exceeding PRODUCT LTV Limits

    Value:

    No

    Criteria Policy Notes:

    Bath Building Society does not allow fees to be added where it means the product loan to value limits will be exceeded.

    Criteria description:

    Indicates if we allow borrowers to add the arrangement fee (where one is payable) to the mortgage advance where this will mean the product loan to value will be exceeded.
  • Arrangement to Pay

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider applicants that have an arrangement to pay registered on their credit file. Applicants would have to be clear for the last 12 months.

    Criteria description:

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

    Value:

    Acceptable

    Criteria Policy Notes:

    Maximum 1 months arrears within the last 3 years considered

    Criteria description:

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

    Value:

    Acceptable

    Criteria Policy Notes:

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

    Criteria description:

    Indicates if we can potentially accept applications from applicants that have a history of unsecured loan arrears.
  • Assessment of Additional Residential Mortgages: Monthly Payment or Outstanding Balance

    Value:

    Monthly Payment

    Criteria Policy Notes:

    Bath Building Society will use the monthly payment of any additional residential mortgages when assessing affordability as opposed the outstanding balance. We will stress this monthly payment at 1.2% above their current rate.

    Criteria description:

    Indicates if we will use the monthly payment of any background other residential mortgages when assessing affordability or the outstanding balance. For example, Applicant 'A' is applying for a new mortgage with Lender 'A'. Applicant 'A' has a second property in the background that is used as a second home with an outstanding mortgage of £50,000 and a monthly payment of £300 per month. When assessing Applicant 'A's' income Lender 'A' take the monthly payment of the background mortgage as a monthly commitment as opposed to deducting the outstanding balance (£50,000) from the total amount they have calculated Applicant 'A' could borrow based on his income.
  • Back to Back (Remortgage - Bridging)

    Value:

    Acceptable

    Criteria Policy Notes:

    Please refer if it meets the following policy - Remortgages within 6 months of acquisition will be acceptable subject to;

    • LTV based on original purchase price unless evidence of refurbishment or conversion is seen.
    • The title must be fully registered with no pending applications.
    • There must be a plausible explanation for the transaction.

    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 wishes to mortgage the property.
  • Back to back (Remortgage - Customer Funded)

    Value:

    Acceptable

    Criteria Policy Notes:

    Please refer if it meets the following policy - Remortgages within 6 months of acquisition will be acceptable subject to;

    • LTV based on original purchase price unless evidence of refurbishment or conversion is seen.
    • The title must be fully registered with no pending applications.
    • There must be a plausible explanation for the transaction.

    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 we can accept applications where the customer has funded the purchase from their own funds and now wish to mortgage the property.
  • Back to back (Remortgage - Inherited)

    Value:

    Acceptable

    Criteria Policy Notes:

    Please refer if it meets the following policy - Remortgages within 6 months of acquisition will be acceptable subject to;
    • LTV based on original purchase price unless evidence of refurbishment or conversion is seen.
    • The title must be fully registered with no pending applications.
    • There must be a plausible explanation for the transaction.

    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 - Inherited) 
    indicates if we will accept applications where the customer has inherited a property and now wish to mortgage it on a residential basis.

  • Back to back (Remortgage - Other)

    Value:

    Acceptable

    Criteria Policy Notes:

    Please refer if it meets the following policy - Remortgages within 6 months of acquisition will be acceptable subject to;
    • LTV based on original purchase price unless evidence of refurbishment or conversion is seen.
    • The title must be fully registered with no pending applications.
    • There must be a plausible explanation for the transaction.

    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.

    In the case of Back to back (Remortgage - Other) it indicates if we are able to potentially accept remortgage applications where the current owner has owned the property for less than 6 months and is now looking to remortgage for a reason other than due to the property being inherited, remortgaging having recently ported, to repay bridging finance or to mortgage having originally purchase the property for cash.
  • Back to back (Remortgage - Ported)

    Value:

    Acceptable

    Criteria Policy Notes:

    Please refer if it meets the following policy - Remortgages within 6 months of acquisition will be acceptable subject to;
    • LTV based on original purchase price unless evidence of refurbishment or conversion is seen.
    • The title must be fully registered with no pending applications.
    • There must be a plausible explanation for the transaction.

    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 - Ported) 
    indicates if we will accept applications where the customer has recently moved and ported their mortgage, their product has come to an end shortly after and they now wish to remortgage. For example, Jeff moved into his new property last month and ported his existing mortgage across so as to avoid an early repayment charge on his then-current mortgage. The current product, however, expires about a month after his move in date and so he would like to remortgage to a new lender in order to obtain a new product even though he has only been in the property for one month.
  • Back to back (Sub Sale Purchase - Other)

    Value:

    Not Acceptable

    Criteria Policy Notes:

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

    Criteria description:

    Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.

    In the case of Back to back (Purchase - Other) it indicates if we are able to potentially accept applications for purchases where the current owner has owned the property for less than 6 months and is now wishing to sell for a reason other than due to a previous part exchange or a lender repossession.
  • Back to back (Sub Sale Purchase - Part Exchange)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society will accept back to back transactions on this basis

    Criteria description:

    Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.

    In the case of Back to back (Purchase - Part Exchange), it indicates if we are able to potentially accept applications for purchases where the current owner took the property as a part exchange on a previous sale. An example would be where a builder sold a property to someone and took their property as a part exchange and now wishes to sell that property and the part exchange falls within the last 6 months.

  • Back to back (Sub Sale Purchase - Repossessed)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept back to back purchases of this nature.

    Criteria description:

    Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.

    In the case of Back to back (Purchase - Repossessed), it indicates if we are able to potentially accept applications for purchases where the current owner is a lender that has repossessed the property being sold from the previous owner in the past 6 months. 
  • Benefit Income: Adoption Allowance

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept adoption allowance as an income type.

    Criteria description:

    Displays if we will accept Adoption Allowance as an acceptable source of income for affordability purposes.
  • Benefit Income: Attendance Allowance

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept attendance allowance as an income type.

    Criteria description:

    Displays if we will accept Attendance Allowance as an acceptable source of income for affordability purposes.
  • Benefit Income: Carers Allowance

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept carers allowance as an income type.

    Criteria description:

    Displays if we will accept Carers Allowance as an acceptable source of income for affordability purposes.
  • Benefit Income: Child Benefit

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept child benefit as an income type. This automatically included in the affordability

    Criteria description:

    Displays if we will accept Child Benefit as an acceptable source of income for affordability purposes.
  • Benefit Income: Child Tax Credits

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept child tax credits as an income type.

    Criteria description:

    Indicates if we accept child tax credits as an allowable income type for affordability purposes. 
  • Benefit Income: Constant Attendance Allowance

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept constant attendance allowance as an income type.

    Criteria description:

    Displays if we will accept Constant Attendance Allowance as an acceptable source of income for affordability purposes.
  • Benefit Income: Disability Living Allowance (DLA)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept disability living allowance as an income type.

    Criteria description:

    Displays if we will accept Disability Living Allowance as an acceptable source of income for affordability purposes.
  • Benefit Income: Employment and Support Allowance

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept employment and support allowance as an income type.

    Criteria description:

    Displays if we will accept Employment and Support Allowance as an acceptable source of income for affordability purposes.
  • Benefit Income: Guardian Allowance

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept guardian allowance as an income type.

    Criteria description:

    Displays if we will accept Guardian Allowance as an acceptable source of income for affordability purposes.
  • Benefit Income: Industrial Injuries Disablement Benefit

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can accept industrial injuries disablement benefit as an income type provided it is guaranteed for life

    Criteria description:

    Displays if we will accept Industrial Injuries Disablement Benefit as an acceptable source of income for affordability purposes.
  • Benefit Income: Personal Independence Payment (PIP)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept personal independence payment as an income type.

    Criteria description:

    Displays if we will accept Personal Independence Payment as an acceptable source of income for affordability purposes.
  • Benefit Income: Universal Credit

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept universal credit as an acceptable income type.

    Criteria description:

    Displays if we will accept Universal Credit as an acceptable source of income for affordability purposes.
  • Benefit Income: Working Tax Credits

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept working tax credits as an income type.

    Criteria description:

    Indicates if we accept working tax credits as an allowable income type for affordability purposes. 
  • Buy for University (Student Mortgages)

    Value:

    Offered

    Criteria Policy Notes:

    Bath Building Society will accept Buy for University Mortgage enquiries on a referral basis only and will be sold in house by our Mortgage Consultants. We will pay a 0.2% referral fee on completion of the loan.

    Criteria description:

    Indicates if we can potentially consider applications on a Buy for University Scheme. Buy for uni allows students to borrow up to 100% to buy a property and rent out rooms to meet the mortgage interest payments. Parents support the arrangement by being a joint borrower on the mortgage and by providing additional security if necessary

    Warning:

    This mortgage is sold by our Mortgage Consultants only
  • 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. 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. 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 24 months ago and less than 36 months ago. 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. 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 3 months ago and less than 12 months ago. 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. 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:

    Potentially Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider applicants that have had CCJs registered in the past 3 months. 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 in the past 3 months. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.
  • CCJs registered over 36 Months ago

    Value:

    Potentially Ignored

    Criteria Policy Notes:

    Bath Building Society can potentially ignore any CCJs that were registered over 36 months ago. As long as the CCJ is satisfied

    Criteria description:

    Indicates if we can potentially ignore CCJs that were registered more than 36 months ago. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.
  • 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.
  • Concessionary purchase (Family)

    Value:

    Acceptable

    Criteria Policy Notes:

    Providing the correct amount of stamp duty is paid

    Criteria description:

    Indicates if we accept concessionary purchase applications where the current owner is related to one of the applicants. For example, Mr Smith has agreed to sell a property he owns to his grandson (Joe) for £150,000. The property is worth £200,000. Joe wishes to purchase the property for £150,000 and would like a lender who will use the difference between the property value and the purchase price as a deposit (£50,000).


  • Concessionary purchase (Landlord)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept this type of concessionary purchase

    Criteria description:

    Indicates if we accept concessionary purchase applications where the current owner is the landlord of the property and the applicant(s) are the tenants. For example, Mr Landlord has agreed to sell the property he Lets to his tenants (Tom and Sally) for £150,000. The property is worth £200,000. Tom and Sally wish to purchase the property for £150,000 and would like a lender who will use the difference between the property value and the purchase price as a deposit (£50,000).

    Warning:

    Please refer the case with full details. Agreed on a case by cases basis
  • Concessionary purchase Where Giftor Will Remain

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept the situation where it is a concessionary purchase where the giftor will remain an occupant of the property.

    Criteria description:

    Indicates if we accept concessionary purchase applications where the current owner is providing a gift of equity AND WILL REMAIN IN THE PROPERTY. For example, Mr Lane has agreed to sell a property he owns to his son (Tony) for £150,000. The property is worth £200,000. Tony wishes to purchase the property for £150,000 and would like a lender who will use the difference between the property value and the purchase price as a deposit (£50,000) and is happy for Mr Lane senior to remain in the property.
  • Consent to Let a Room (via AirBnB or similar)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not allow borrowers to Let a room in their main residence via AirBnB or similar

    Criteria description:

    Indicates if we allow borrowers to Let a room via services such as AirBnB or similar. FOR CLARIFICATION this is for the situation whereby the borrower resides in the security property and Lets a room in that property.
  • Consent to Let, Tied Accommodation

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable subject to underwriter approval

    Criteria description:

    Indicates if we can potentially allow applicants that are in tied accommodation to take a residential product and give the applicant permission to Let the property whilst they remain in the tied accommodation. For example an applicant who is moving into or currently in tied accommodation linked to their employment (e.g. boarding school teacher, vicar/minster, estate worker, army barracks etc) and will remain in this situation until their job ceases at some point in the future. They'd like to purchase a property that they intend to live in at a later date but would like to Let the property whilst they remain in tied accommodation.
  • Contract Reassignment

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept applications where contract reassignment exists

    Criteria description:

    Indicates if we are potentially able to accept the situation whereby the purchaser is looking to buy a new build property from a third party (not the builder/developer) who has yet to complete on the transaction. An example of this is whereby a third party has secured the property off plan and exchanged contracts but has not completed. They then sell the contract to a new purchaser. This is known as 'contract reassignment'. Sometimes this is for a premium of the original purchase price and sometimes it is without a premium.
  • Contractor Income: Agency work

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept agency work as an income type.

    Criteria description:

    Displays if we will accept Agency work as an acceptable source of income for affordability purposes.
  • Contractor Income: CIS Contractor

    Value:

    Acceptable

    Criteria Policy Notes:

    We would need to see 3 years accounts

    Criteria description:

    Displays if we will accept CIS Contractor as an acceptable source of income for affordability purposes.
  • Contractor Income: Fixed Term Contract

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept fixed term contracts as an income type.

    Criteria description:

    Displays if we will accept Fixed Term Contract as an acceptable source of income for affordability purposes.

    Warning:

    We would need to see 3 years accounts/3 year contracting history.
  • Contractor Income: IT Consultant

    Value:

    Acceptable

    Criteria Policy Notes:

    Case by case basis. Would need to see length of contract and would have need to have been renewed at some stage.

    Criteria description:

    Displays if we will accept IT Contractor as an acceptable source of income for affordability purposes.
  • Contractor Income: Nursing Bank

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept nursing bank as an income type.

    Criteria description:

    Displays if we will accept Nursing Bank as an acceptable source of income for affordability purposes.
  • Contractor Income: Piecework Contract

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept piecework contracts as an income type.

    Criteria description:

    Displays if we will accept Piecework Contract as an acceptable source of income for affordability purposes.
  • Contractor Income: Probationary contract

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept probationary contracts as an income type.

    Criteria description:

    Specifies if we accept someone's income who is on a 'probationary contract'. A probationary contract is not the same as a probationary period. If your client is simply in a probationary period then you should check that specific criteria.
  • Contractor Income: Seasonal Contract

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept seasonal contracts as an income type.

    Criteria description:

    Displays if we will accept Seasonal Contract as an acceptable source of income for affordability purposes.
  • Contractor Income: Short Term Renewable Contract

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept short term renewable contracts as an income type.

    Criteria description:

    Displays if we will accept Short Term Renewable Contract as an acceptable source of income for affordability purposes.
  • Contractor Income: Sub contractor

    Value:

    Acceptable

    Criteria Policy Notes:

    We would need to see 3 years accounts

    Criteria description:

    Displays if we will accept Sub contractor as an acceptable source of income for affordability purposes.
  • Contractor Income: Temporary Contract

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept temporary contracts as an income type.

    Criteria description:

    Displays if we will accept Temporary Contract as an acceptable source of income for affordability purposes.
  • Contractor Income: Umbrella Company

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider contractor income that is paid via an umbrella company.

    Criteria description:

    Indicates if we can consider contractor income where the income paid to the applicant is paid via an umbrella company.
  • Contractor Income: Zero Hours Contract

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept zero hours contracts as an income type.

    Criteria description:

    Displays if we will accept Zero Hours Contract as an acceptable source of income for affordability purposes.
  • 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 applications from applicants that have had/or have satisfied CCJs registered against their name.
  • County Court Judgements (CCJs) (Unsatisfied) potentially accepted

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept applicants with unsatisfied CCJs.

    Criteria description:

    Indicates if we can potentially accept 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 borrowers to take a payment holiday due to problems relating to the Covid-19 outbreak.

    Criteria description:

    Displays if we will allow 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:

    Contact Lender

    Criteria Policy Notes:

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

    Criteria description:

    Displays if we will consider waiving fees for late 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 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 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 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.
  • Day 1 Remortgage (NOT inherited property)

    Value:

    Acceptable

    Criteria Policy Notes:

    We can accept day 1 remortgages when there is a valid reason in place.

    Criteria description:

    Indicates if we accept day one remortgage applications. An example of this type of situation would be where an applicant has recently purchased a property at auction for cash and then wishes to release funds by remortgaging the property straight away. 
  • Day 1 Remortgage (if inherited property)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can accept day 1 remortgages where the property has been inherited.

    Criteria description:

    Indicates if we accept remortgage applications from an applicant who has recently inherited the property. For example, James inherited a property today and wishes to remortgage it to raise some funds. 
  • Debt Management Plan (Current/Unsatisfied)

    Value:

    Not Acceptable

    Criteria Policy Notes:

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

    Criteria description:

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

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept applicants with a satisfied Debt Management Plan if this has been cleared/satisfied for over 12 months

    Criteria description:

    Indicates if we can potentially accept an application from an applicant who has previously had a debt management plan that is now satisfied.
  • Debt Related: Debt being repaid fully or partially ignored

    Value:

    Yes

    Criteria Policy Notes:

    Full debts being repaid can be ignored

    Criteria description:

    Indicates if, when assessing affordability, we are able to potentially ignore debts that an applicant is intending to repay on or before completion of the new mortgage. 
  • Debt Related: Expiring debt can be partially or fully ignored

    Value:

    Yes

    Criteria Policy Notes:

    Anything 3 months or under can be ignored

    Criteria description:

    Indicates if, when assessing affordability, we are able to potentially ignore (in part or in full) loans that are coming to an end (typically 6 months or less to run). 
  • 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 an application from an applicant who is currently in a payday loan credit agreement
  • Debt Related: Payday loan (previous)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society does can potentially accept settled pay day loans if the applicant has had clean credit and no pay day loans for at least 12 months

    Criteria description:

    Indicates if we can potentially accept an application from an applicant who has had a payday loan in the past but is not currently in a payday loan credit agreement.
  • 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:

    Must be registered over 2 years ago and satified on application.
    Case by case basis

    Criteria description:

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

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept applicants who have unsatisfied defaults.

    Criteria description:

    Indicates if we can potentially accept 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.

    Criteria description:

    Indicates if we can potentially accept applicants that have had any Defaults registered more than 12 months ago and less than 24 months ago. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.
  • 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. 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. 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.

    Criteria description:

    Indicates if we can potentially accept applicants that have had any Defaults registered more than 3 months ago and less than 12 months ago. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.
  • 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.

    Criteria description:

    Indicates if we can potentially accept applicants that have had any Defaults registered in the past 3 months. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.
  • 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. If satisfied

    Criteria description:

    Indicates if we can potentially ignore Defaults that were registered more than 36 months ago. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.
  • 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:

    Indicates if we can accept discharged bankrupts and if so how long a client has to have been discharged for. For example, Mr Smith was made bankrupt 7 years ago and was discharged one year later so has been discharged for 6 years. 
  • Discount Market Scheme

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society is unable to accept applications on the Discount Market Scheme

    Criteria description:

    Indicates if we can consider an application on the Discount Market Scheme
  • Employment : Zero Hours Contract Minimum Time in Position (in Months)

    Value:

    We do not accept Zero Hours Contracts in affordability assessment

    Criteria Policy Notes:

    We do not accept zero hours contracts.

    Criteria description:

    Indicates if we can consider income from a zero hours contract and if so what is the minimum requirement (in MONTHS) that the applicant must have held the position for.
  • Employment Income: Additional Duty Hours

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider Additional Duty Hours as an acceptable source of income for affordability purposes.

    Criteria description:

    Displays if we will accept Additional Duty Hours as an acceptable source of income for affordability purposes.
  • Employment Income: Additional Responsibility Allowance

    Value:

    Acceptable

    Criteria Policy Notes:

    Subject to the employer confirming this income is guaranteed

    Criteria description:

    Displays if we will accept Additional Responsibility Allowance as an acceptable source of income for affordability purposes.
  • Employment Income: Bonus (Annual)

    Value:

    Acceptable

    Criteria Policy Notes:

    We will take 50% of non guaranteed bonuses

    Criteria description:

    Indicates if we can accept annual bonus as an allowable income type for affordability purposes.
  • Employment Income: Bonus (Half Yearly)

    Value:

    Acceptable

    Criteria Policy Notes:

    We will take 50% of non guaranteed bonuses

    Criteria description:

    Indicates if we can accept half-yearly bonus as an allowable income type for affordability purposes. 
  • Employment Income: Bonus (Monthly)

    Value:

    Acceptable

    Criteria Policy Notes:

    We will take 50% of non guaranteed bonuses

    Criteria description:

    Indicates if we can accept monthly bonus as an allowable income type for affordability purposes.
  • Employment Income: Bonus (Quarterly)

    Value:

    Acceptable

    Criteria Policy Notes:

    We will take 50% of non guaranteed bonuses

    Criteria description:

    Indicates if we can accept quarterly bonus as an allowable income type for affordability purposes. 
  • Employment Income: Car Allowance

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society. If its a perk of the job we will take 100% of this otherwise we will take 50%

    Criteria description:

    Indicates if we can accept car allowance as an allowable income type for affordability purposes. 
  • Employment Income: Commission (annual)

    Value:

    Acceptable

    Criteria Policy Notes:

    We will take 50% of non guaranteed income

    Criteria description:

    Indicates if we can accept annual commission as an acceptable source of income for affordability purposes.
  • Employment Income: Commission (half yearly)

    Value:

    Acceptable

    Criteria Policy Notes:

    We will take 50% of non guaranteed income

    Criteria description:

    Indicates if we can accept half-yearly commission as an acceptable source of income for affordability purposes.
  • Employment Income: Commission (monthly)

    Value:

    Acceptable

    Criteria Policy Notes:

    We will take 50% of non guaranteed income

    Criteria description:

    Indicates if we can accept monthly Commission as an acceptable source of income for affordability purposes.
  • Employment Income: Commission (quarterly)

    Value:

    Acceptable

    Criteria Policy Notes:

    We will take 50% of non guaranteed income

    Criteria description:

    Indicates if we can accept quarterly commission as an acceptable source of income for affordability purposes.
  • Employment Income: Employers Housing Allowance

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept employers housing allowance as an income type.

    Criteria description:

    Indicates if we can accept Employers Housing Allowance as an acceptable source of income for affordability purposes.
  • Employment Income: Employers Mortgage Subsidy

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept employers mortgage subsidy as an income type.

    Criteria description:

    Indicates if we can accept Employers Mortgage Subsidy as an acceptable source of income for affordability purposes.
  • Employment Income: Employment Income from Family Business

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept employment income from a Family Business as an income type.

    Criteria description:

    Indicates if we can accept Employment Income from Family Business as an acceptable source of income for affordability purposes.

    Warning:

    Acceptable subject to company accountant confirming the income
    Pay slips would need to match entries into their bank account
    The society may also request full accounts
  • Employment Income: Flight Pay

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider Flight Pay as an acceptable source of income for affordability purposes.

    Criteria description:

    Displays if we will accept Flight Pay as an acceptable source of income for affordability purposes.

    Warning:

    Please refer to lender.
  • Employment Income: Foreign currency

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept foreign currency as an income type.

    Criteria description:

    Indicates if we can accept Foreign currency as an acceptable source of income for affordability purposes.
  • Employment Income: Large Town Allowance

    Value:

    Acceptable

    Criteria Policy Notes:

    acceptable to Bath Building Society

    Criteria description:

    Indicates if we can accept Large Town Allowance as an acceptable source of income for affordability purposes.
  • Employment Income: London Weighting

    Value:

    Acceptable

    Criteria Policy Notes:

    acceptable to Bath Building Society

    Criteria description:

    Indicates if we can accept London Weighting as an acceptable source of income for affordability purposes.
  • Employment Income: Mileage Allowance

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept mileage allowance as an acceptable source of income for affordability purposes.

    Criteria description:

    Indicates if we are able to potentially accept mileage allowance an applicant receives from his/her employer as part of the affordability assessment.
  • Employment Income: Overtime (less than monthly)

    Value:

    Acceptable

    Criteria Policy Notes:

    We will take 50% of non guaranteed income

    Criteria description:

    Indicates if we can accept overtime which is paid less frequently than monthly (for example quarterly) as an acceptable source of income for affordability purposes.
  • Employment Income: Overtime (weekly or monthly)

    Value:

    Acceptable

    Criteria Policy Notes:

    We will take 50% of non guaranteed income

    Criteria description:

    Indicates if we can accept monthly or less overtime as an acceptable source of income for affordability purposes.
  • Employment Income: Parental/Maternity leave pay (back to work salary)

    Value:

    Acceptable

    Criteria Policy Notes:

    We would also need to see a level of savings in the back ground to support any shortfall income

    Criteria description:

    Indicates if we can accept the client's full salary when they return to work after Parental/Maternity leave pay.
  • Employment Income: Salary (paid cash in hand)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept salary paid in cash as an income type.

    Criteria description:

    Indicates if we can accept salary paid in cash as an allowable income type for affordability purposes. For example, Mr Jones works as a fruit picker on the local farm and is paid weekly in cash.
  • Employment Income: Second Job

    Value:

    Acceptable

    Criteria Policy Notes:

    Must have been working the 2 jobs in tandem for a 12 months period

    Criteria description:

    Indicates if we can accept income from a second job as an acceptable source of income for affordability purposes.

    Warning:

    Must have been working the 2 jobs in tandem for a 12 months period
  • Employment Income: Shift Allowance

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if we can accept Shift Allowance as an acceptable source of income for affordability purposes.
  • Employment Income: Standby / Call Out

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider Standby / Call Out as an acceptable source of income for affordability purposes.

    Criteria description:

    Displays if we will accept Standby / Call Out as an acceptable source of income for affordability purposes.

    Warning:

    Refer to lender
  • Employment Income: Supply Teacher

    Value:

    Acceptable

    Criteria Policy Notes:

    Refer to lender.
    No set criteria on this.

    Criteria description:

    Indicates if we can accept Supply Teacher income as an acceptable source of income for affordability purposes.

    Warning:

    Refer to lender.
    No set criteria on this.
  • Employment Income: Tronc Payments (Tips etc)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not consider tronc payments (tips etc) when assessing affordability.

    Criteria description:

    Indicates if we can potentially consider tronc payments (Tips etc) as an allowable income type when assessing affordability on residential applications.
  • Employment: CIS Contractor Assessment

    Value:

    Treated as Self Employed

    Criteria Policy Notes:

    Bath Building Society can potentially use income from CIS contractors but would treat the applicants as self-employed so would take an average on the last 3 years income.

    Criteria description:

    Indicates how we assesses CIS contractor income which will either be on a self employed basis or based on the CIS vouchers
  • Employment: Contractors Minimum Experience Requirement (Months)

    Value:

    36 months

    Criteria Policy Notes:

    Bath Building Society has a minimum experience requirement for contractors of at least 3 years.
    Please still refer.

    Criteria description:

    Indicates if we have a general 'minimum contracting experience requirement' threshold for contractors that must be met in order for their income to be considered.
  • Employment: Contractors Weekly Multiplier for Income Assessment

    Value:

    Treated as Self Employed weeks

    Criteria Policy Notes:

    We would use an average of the last 3 years.
    Refer to lender


    Criteria description:

    Indicates how we assess contractor income which will either be on a self-employed basis or based on the contractor's day rate indicated by a weekly multiplier. For example 'Lender A' will calculate a contractor's income based on the weekly amount * 48 where '48' indicates the weekly multiplier and 'Lender B' will treat them as self-employed and income will be assessed in line with their self-employed policy. 

    Warning:

    Only except certain contractors: 
    Junior doctors 
    IT consultants

  • Employment: Employed with Voluntary Breaks

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider income from an applicant who takes unpaid prolonged breaks from employment with their existing employer

    Criteria description:

    Indicates if we are able to potentially accept a situation whereby someone is employed but takes an unpaid break from employment for a period greater than what would constitute a holiday. For example, John works 9 months of the year in an office job but in June, July and August each year he takes 3 months off in order to pursue other things (for example a seasonal second job or charity work). After the break, he returns to his office job.
  • Employment: Minimum length of time employed (months)

    Value:

    1 months

    Criteria Policy Notes:

    at least 1 months pay gone into bank account and no probation

    Criteria description:

    Specifies if there is a minimum number of months (if so how many) employed applicants must have been continuously employed for their income to be considered in affordability.
  • Employment: Minimum length of time in current job (months)

    Value:

    1 months

    Criteria Policy Notes:

    1 month. At least 1 months pay shown in bank account and no probation

    Criteria description:

    Specifies if there is a minimum length of time a person must have been in their current job and if so how many months. 
  • Employment: Pending new job salary accepted

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept future income from a pending new job when assessing affordability.

    Criteria description:

    Indicates if we can potentially use an applicants salary for a job they have yet to start when assessing affordability.
  • Employment: Pending pay rise accepted

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept a pending pay rise when assessing affordability.

    Criteria description:

    Indicates if we can potentially accept an applicants salary who are set to get a pay rise in the near future. For example, Sally is currently earning a salary of £20,000 but this will be increasing to £22,000 in a couple of months. 
  • Employment: Probationary Period

    Value:

    Not Acceptable

    Criteria Policy Notes:

    All applicants must be free from probation when applying

    Criteria description:

    Specifies if we will allow a clients income to be considered for affordability if they are in a probationary period.
  • 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 residential 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 residential 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

    Warning:

    Please refer to lender.
  • Expat Residential Mortgage

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept residential applications from expat applicants

    Criteria description:

    Indicates if we can potentially consider residential applications from expatriate applicants.
  • Family assist 100% mortgages

    Value:

    Not Offered

    Criteria Policy Notes:

    Bath Building Society will not consider Family assist 100% mortgages

    Criteria description:

    Indicates if we can potentially consider Family assist 100% mortgages
  • 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 residential applications from an applicant who is financially associated with someone who has adverse credit.
  • First Home Fund (Shared Equity Scheme - Scotland Only)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society is unable to accept applications on the First Home Fund shared equity scheme

    Criteria description:

    Indicates if we can accept an application on the First Home Fund shared equity scheme
  • Flat/Maisonette Maximum LTV (New Build)

    Value:

    85 percentage

    Criteria Policy Notes:

    Bath Building Society can consider 85% LTV on New Build Flats

    Criteria description:

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

    Value:

    90 percentage

    Criteria Policy Notes:

    Bath Building Society can consider 90% LTV on Flats/maisonettes

    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 residential mortgage here in the UK. For example, a Chinese applicant who does not live or work in the UK who wants to purchase property here in the UK on a residential basis as he wants a residence in the UK (perhaps for his family to reside).
  • 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:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept applications from foreign nationals

    Criteria description:

    Indicates if we are potentially able to accept applications from foreign nationals that DO HAVE indefinite leave to remain
  • 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 residential applications
  • Guarantors

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can accept guarantor applications.

    Criteria description:

    Indicates if we accept guarantor applications.

    Warning:

    Now treated as JBSP
  • Guarantors: Reverse (younger applicant guarantor for older applicant)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider a reverse guarantor application

    Criteria description:

    Indicates if we can potentially consider a reverse guarantor application. A reverse guarantor application is where the guarantor is younger than the applicant. This typically might occur when a son or daughter wishes to help their parents.
  • Guarantors: Where applicant significant income growth is not expected

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider a guarantor application where significant income growth is not expected

    Criteria description:

    Indicates if we can potentially accept a guarantor application where the applicant is not expecting significant income growth in the future
  • Help to Buy Equity Loan (2013-2021)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept Equity Loan Applications

    Criteria description:

    Indicates if we can accept Help to Buy Equity Loan (2013-2021) applications.
  • Help to Buy Equity Loan (2021-2023)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept 'Help to Buy Equity Loan' applications

    Criteria description:

    Indicates if we can accept Help to Buy Equity Loan (2021-2023) applications.
  • Help to Buy Equity Loan Remortgage

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept 'Help to Buy Equity Loan' applications

    Criteria description:

    Indicates if we are able to potentially accept remortgage applications where a Help to Buy Equity Loan exists and will continue to exist on completion of the remortgage.
  • Help to Buy Equity Loan Remortgage with Capital Raising

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept 'Help to Buy Equity Loan' applications

    Criteria description:

    Indicates if we are able to potentially consider remortgage applications with an element of capital raising where there exists a help to buy equity loan and it will continue to exist on completion of the remortgage.
  • Help to Buy: Equity Loan Rate for Affordability

    Value:

    does not take part in Help to Buy Equity Loan

    Criteria Policy Notes:

    Bath Building Society does not take part in Help to Buy Equity Loan.

    Criteria description:

    Indicates if we will take the 'Equity Loan' portion as a commitment for affordability assessment and if so at what rate of interest is it calculated. 

  • Historic CIFAS Record (Years)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept applicants that are named on the CIFAS register.

    Criteria description:

    Indicates if we can potentially accept residential applications from an applicant that is on the CIFAS register and if so, what time must have passed in order for us to potentially accept a new mortgage application from the customer.
  • House/Bungalow Maximum LTV (New Build)

    Value:

    90 percentage

    Criteria Policy Notes:

    Bath Building Society can consider 90% LTV on New Build Houses

    Criteria description:

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

    Value:

    90 percentage

    Criteria Policy Notes:

    90% Maximum 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.
  • Income Multiple (Joint) Maximum

    Value:

    4.5

    Criteria Policy Notes:

    Income £0- £50k joint = 4.25 x income
    Income £50k plus = 4.5 x income

    Criteria description:

    Indicates the maximum income multiple that cannot be exceeded when assessing how much joint applicants are able to borrow. This is the maximum potential income multiple and should just be used as a guide as other factors may reduce this figure.

    Warning:

    Income £0- £50k joint = 4.25 x income
    Income £50k plus = 4.5 x income
  • Income Multiple (single) Maximum

    Value:

    4.5

    Criteria Policy Notes:

    Income £0- £50k joint = 4.25 x income
    Income £50k plus = 4.5 x income

    Criteria description:

    Indicates the maximum income multiple that cannot be exceeded when assessing how much single applicants are able to borrow. This is the maximum potential income multiple and should just be used as a guide as other factors may reduce this figure.

    Warning:

    Income £0- £50k joint = 4.25 x income
    Income £50k plus = 4.5 x income
  • Income made up primarily of benefits

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society do not accept applicants income that is made up primarily of benefits.

    Criteria description:

    Indicates if we can potentially accept income where it is primarily made up of benefits. An example of this would be where benefit income exceeds earned income or represents more than 50% of total income.
  • Individual Voluntary Arrangements (IVA)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept IVA's if they have been satisfied for a minimum of 2 years and registered over 3 years ago.

    Criteria description:

    Indicates if we can potentially consider an application from an applicant who has previously had an Individual Voluntary Arrangement (IVA) registered against them. 

    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 to your client's specific situation.


  • Individual Voluntary Arrangements - IVA (Years satisfied)

    Value:

    2 years

    Criteria Policy Notes:

    Bath Building Society can potentially accept IVA's if they have been satisfied for a minimum of 2 years

    Criteria description:

    Indicates if we can potentially consider borrowers who have had an IVA and if so how many years it must have been satisfied for. An IVA is satisfied when the payment plan has been completed. For example, a home buyer is looking to obtain a mortgage to fund a house purchase but entered into an IVA 6 years ago which consisted of a 5-year plan to repay the agreed amount to their creditors. The plan was successfully completed without any unsatisfactory conduct so their IVA has now been satisfied for 1 year.

    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). 


  • Individual Voluntary Arrangements - IVA (Years since registered)

    Value:

    3 years

    Criteria Policy Notes:

    Bath Building Society can potentially accept IVA's if they have been registered for a minimum of 3 years and satisfied for 2 years

    Criteria description:

    Indicates if we can potentially consider borrowers who have had an IVA and if so how many years ago it must have been registered. An IVA is registered when a payment plan is agreed with the creditors. For example, a home buyer is looking to obtain a mortgage to fund a house purchase but entered into an IVA 6 years ago which consisted of a 5-year plan to repay the agreed amount to their creditors. The plan was successfully completed without any unsatisfactory conduct so their IVA has now been satisfied for 1 year and was registered 6 years ago

    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). 

  • 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 application with no discount being offered
  • Interest Only: Minimum Equity Requirement

    Value:

    100000

    Criteria Policy Notes:

    Bath Building Society has a minimum equity requirement for interest only lending of £100,000.

    Criteria description:

    Indicates if we can potentially accept interest-only lending and if so do we have a minimum equity requirement for interest-only lending.

    Warning:

    Refer to lender. - Applicant must also be able to downsize to a 2 bed terrace within the same area, whichever is higher.
  • Interest Only: Minimum Income Requirement

    Value:

    20000

    Criteria Policy Notes:

    Bath Building Society has a minimum income requirement for interest only lending of £20,000 after deductions.

    Criteria description:

    Indicates if we can potentially accept interest-only lending and if so do we have a minimum income requirement for interest-only lending. 
  • Interest only: Annual lump sum repayment

    Value:

    Yes

    Criteria Policy Notes:

    On a case by case basis

    Criteria description:

    Indicates if we can potentially accept interest-only lending and if so are we able to accept interest-only applications where the repayment vehicle is the borrowers intention to make periodic lump sum reductions from savings, bonus payments, sale of assets and the like.
  • Interest only: Existing endowment or ISA

    Value:

    Yes

    Criteria Policy Notes:

    Acceptable on a case by case basis

    Criteria description:

    Indicates if we can potentially accept interest-only lending and if so are we able to accept interest-only applications where the repayment vehicle is from the proceeds of an existing endowment or ISA.
  • Interest only: Other assets

    Value:

    Yes

    Criteria Policy Notes:

    Acceptable depending on the circumstances. Underwriter discretion

    Criteria description:

    Indicates if we can potentially accept interest-only lending and if so are there any other acceptable assets that we could potentially accept as an acceptable means of repaying an interest-only mortgage. This does not include the standard repayment method like sale of mortgage property, sale of other property, endowments, ISAs, pensions and the other standard methods of repayment.
  • Interest only: Pension Lump Sum

    Value:

    Yes

    Criteria Policy Notes:

    Bath Building Society will consider this

    Criteria description:

    Indicates if we can potentially accept interest-only lending and if so are we able to accept interest-only applications where the repayment vehicle is intended to be the proceeds from a pension lump sum.
  • Interest only: Pure

    Value:

    No

    Criteria Policy Notes:

    Bath Building Society does not accept pure interest only where there is no repayment vehicle.

    Criteria description:

    Indicates if we can potentially accept interest-only lending and if so are we able to potentially accept mortgage applications on an interest-only basis where there is no repayment method (pure interest only).
  • Interest only: Sale of mortgaged property

    Value:

    Acceptable

    Criteria Policy Notes:

    We will look at this repayment vehicle

    Criteria description:

    Indicates if we can potentially accept interest-only lending and if so is 'sale of the mortgaged property' an acceptable repayment method on residential mortgages.
  • Interest only: Sale of other mortgaged property

    Value:

    Yes

    Criteria Policy Notes:

    Acceptable on a case by case basis

    Criteria description:

    Indicates if we can potentially accept interest-only lending and if so is the sale of another mortgaged property (Not the security property) an acceptable repayment vehicle for residential interest-only lending.
  • Interest only: Sale of other unencumbered property

    Value:

    Yes

    Criteria Policy Notes:

    We may take a collateral charge on this property

    Criteria description:

    Indicates if we can potentially accept interest-only lending and if so are we able to accept interest-only applications where the repayment vehicle is the sale of another mortgage-free property (Not the security property).
  • Investment Income: Investment Income (not rent)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept investment income (not rent) as an income type.

    Criteria description:

    Indicates if we can accept Investment Income (not rent) as an acceptable source of income for affordability purposes.
  • Investment Income: Rental Income (from mortgage free property)

    Value:

    Acceptable

    Criteria Policy Notes:

    Must be able to see 3 years accounts or SA302's

    Criteria description:

    Indicates if we can accept Rental Income (from a mortgage-free property) as an acceptable source of income for affordability purposes.
  • Investment Income: Rental Income (from mortgaged property)

    Value:

    Acceptable

    Criteria Policy Notes:

    Must be able to see 3 years accounts or SA302's

    Criteria description:

    Indicates if we can accept Rental Income (from a mortgaged property) as an acceptable source of income for affordability purposes.
  • Investment Income: Trust Income

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept trust income as an income type.

    Criteria description:

    Indicates if we can accept Trust Income as an acceptable source of income for affordability purposes.
  • 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 occupier

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept applications on a joint application sole occupier basis.

    Criteria description:

    Indicates if we will accept joint applications where one applicant will NOT reside in the property. For example, a father and son are looking to buy a property together that only the son will live in.
  • Joint application sole proprietor

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can accept applications on a joint application sole proprietor basis.

    Criteria description:

    Indicates if we will accept applications from joint borrowers where only ONE applicant will OWN the property. A good example would be a close family member who wants to help increase the borrowing capacity.
  • Late Payments (Not Missed)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept applicants with previous 'Late Payments'. Maximum of 2 within the last 24 months

    Criteria description:

    Indicates if we can potentially consider applications from applicants who have a history of late payments (NOT REGISTERED AS MISSED) on any credit agreements they hold.
  • 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 residential applications for leasehold properties where no separate management company exists.
  • 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 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 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 mainland 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.
  • Let to Buy (Existing lender consent to let)

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable depending on circumstances

    Criteria description:

    Indicates if we can potentially allow a customer to Let their existing residential mortgaged property. 
  • Let to Buy (Onward Purchase)

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if we are potentially able to arrange the new residential mortgage where the existing residential mortgaged property is going to be Let with a different lender
  • 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. For example, Jack wants to move out of his current residential mortgaged property, remortgage onto a buy to let and purchase a new residential property to live in. This criteria relates to converting the current residential onto a buy to let mortgage.
  • Lodgers

    Value:

    Acceptable

    Criteria Policy Notes:

    Our Rent a Room Mortgage is a unique in the fact it allows an individual applicant to increase their borrowing by renting out a room. This is because we will take into account the increased income that the room rental provides and factor this in to increase the overall borrowing.

    Criteria description:

    Indicates if we can potentially accept applications where there is/will be a lodger residing in the security property.
  • Maximum Ground Rent (as % of Property Value/Purchase Price)

    Value:

    0.1

    Criteria Policy Notes:

    The maximum acceptable starting ground rent on all new build leasehold properties will be limited to 0.1 per cent of the property’s value.

    Criteria description:

    Indicates if we have a maximum threshold, and if so what it is, that the ground rent on a leasehold property cannot exceed measured against the property value. For example, Applicant 'A' is purchasing a leasehold flat valued at £100,000 that has a ground rent payable annually of £100. This ground rent equates to 0.1% of the property value. Lender 'A' has no maximum threshold on ground rents and therefor Applicant 'A' is able to proceed with a mortgage application on this property.
  • Maximum Loan Size Retirement Interest Only (RIO)

    Value:

    500000

    Criteria Policy Notes:

    Bath Building Society has a maximum loan size for a Retirement Interest Only (RIO) mortgages of £500,000.

    Criteria description:

    This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so what our maximum loan size is for Retirement Interest Only (RIO) applications.
  • Maximum Loan to Value (LTV) for Interest Only mortgages

    Value:

    80 percentage

    Criteria Policy Notes:

    Bath Building Society considers interest only applications up to a maximum loan to value (LTV) of 80%

    Criteria description:

    Indicates if we can consider Interest Only lending on residential mortgages and if so up to what loan to value (LTV). Take care to check other factors such as:
    • Is there a minimum equity requirement?
    • Is their a minimum income requirement?
    • Is there a minimum property valuation?
    • Is the repayment vehicle acceptable to us?
    • Can any borrowing over the stated max LTV be taken on a repayment basis?
  • Maximum Loan to Value (LTV) for Retirement Interest Only (RIO): Purchases

    Value:

    50

    Criteria Policy Notes:

    Bath Building Society has a maximum loan to value for Retirement Interest Only (RIO) mortgages on purchases of 50%.

    Criteria description:

    This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so what is the maximum loan to value (LTV) for Retirement Interest Only (RIO) purchase applications.
  • Maximum Loan to Value (LTV) for Retirement Interest Only (RIO): Remortgage Balance Swap

    Value:

    50

    Criteria Policy Notes:

    Bath Building Society has a maximum LTV for Retirement Interest Only (RIO) mortgages on balance swap remortgages of 50% LTV.

    Criteria description:

    This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so what is the maximum loan to value (LTV) for Retirement Interest Only (RIO) remortgage applications where there is no element of capital raising and it is a simple balance swap.
  • Maximum Loan to Value (LTV) for Retirement Interest Only (RIO): Remortgage with Capital Raising

    Value:

    50

    Criteria Policy Notes:

    Bath Building Society has a maximum LTV for Retirement Interest Only (RIO) mortgages for capital raising remortgages of 50% LTV.

    Criteria description:

    This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so what is the maximum loan to value (LTV) for Retirement Interest Only (RIO) remortgage applications where there is additional capital being raised.
  • Maximum Mortgage Arrears in last 24 Months

    Value:

    Not Acceptable

    Criteria Policy Notes:

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

    Criteria description:

    Indicates if we can potentially accept residential applications from an applicant who has mortgage arrears in the past 2 years and if so what is the maximum number of missed payments in the past 2 years that can be accepted.
  • Maximum Number of CCJs (Satisfied)

    Value:

    1

    Criteria Policy Notes:

    Bath Building Society can consider applicants with up to 1 satisfied CCJs.

    Criteria description:

    Indicates if we can consider residential applications from applicants with previously satisfied CCJs and if so what the maximum allowable number registered against an applicant is. For example, applicant 'A' has 3 previously satisfied CCJs in the past 6 years and Lender 'A' says the maximum number they will allow is 2 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total value and other adverse credit.
  • 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 residential applications from with unsatisfied CCJs and if so what the maximum allowable number registered against an applicant is. For example, applicant 'A' has 3 previously unsatisfied CCJs in the past 6 years and Lender 'A' says the maximum number they will allow is 2 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total value and other adverse credit.
  • Maximum Number of Defaults (Satisfied)

    Value:

    No Maximum

    Criteria Policy Notes:

    Bath Building Society has no maximum limit of satisfied Defaults.

    Criteria description:

    Indicates if we can consider residential applications from applicants with previously satisfied Defaults and if so what the maximum allowable number registered against an applicant is. For example, applicant 'A' has 3 previously satisfied Defaults in the past 6 years and Lender 'A' says the maximum number they will allow is 2 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total value and other adverse credit.
  • 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 residential applications from with unsatisfied Defaults and if so what the maximum allowable number registered against an applicant is. For example, applicant 'A' has 3 previously unsatisfied Defaults in the past 6 years and Lender 'A' says the maximum number they will allow is 2 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total value and other adverse credit.
  • Maximum Term (Years)

    Value:

    40 years

    Criteria Policy Notes:

    40 years maximum term

    Criteria description:

    Indicates the maximum term a mortgage can be taken over.
  • Maximum Term (Years): Retirement Interest Only (RIO)

    Value:

    No Maximum

    Criteria Policy Notes:

    Bath Building Society has no maximum mortgage term for Retirement Interest Only (RIO) mortgages.

    Criteria description:

    This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so what is the maximum term for Retirement Interest Only (RIO) applications. Lenders do not have to set a fixed term for the mortgage and so the repayment date can be when the borrower dies or goes into care, as with Lifetime Mortgages.
  • Maximum Unsecured Arrears in last 24 Months

    Value:

    2

    Criteria Policy Notes:

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

    Criteria description:

    Indicates if we can potentially accept residential applications from an applicant who has unsecured arrears in the past 2 years and if so what is the maximum number of missed payments in the past 2 years that can be accepted.
  • 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

    Criteria description:

    Indicates if we can potentially consider residential applications from applicants with previously satisfied CCJs and if so what the maximum allowable value of all registered against an applicant is. For example, applicant 'A' has 3 previously satisfied CCJs in the past 6 years totaling £1,230 and Lender 'A' says the maximum value they will allow is £500 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total number registered and other adverse credit registered against the applicant.
  • Maximum Value of CCJs (Unsatisfied)

    Value:

    0

    Criteria Policy Notes:

    Bath Building Society can consider applicants with unsatisfied CCJs up to a maximum value of £0.

    Criteria description:

    Indicates if we can consider residential applications from applicants with unsatisfied CCJs and if so what the maximum allowable value of all registered against an applicant is. For example, applicant 'A' has 3 unsatisfied CCJs in the past 6 years totaling £1,230 and Lender 'A' says the maximum value they will allow is £500 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total number registered and other adverse credit registered against the applicant.
  • Maximum Value of Defaults (Satisfied)

    Value:

    No Maximum

    Criteria Policy Notes:

    Bath Building Society can consider applicants with satisfied Defaults on a case by case basis

    Criteria description:

    Indicates if we can potentially consider residential applications from applicants with previously satisfied Defaults and if so what the maximum allowable value of all registered against an applicant is. For example, applicant 'A' has 3 previously satisfied Defaults in the past 6 years totaling £1,230 and Lender 'A' says the maximum value they will allow is £500 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total number registered and other adverse credit registered against the applicant.
  • 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 residential applications from applicants with unsatisfied Defaults and if so what the maximum allowable value of all registered against an applicant is. For example, applicant 'A' has 3 unsatisfied Defaults in the past 6 years totaling £1,230 and Lender 'A' says the maximum value they will allow is £500 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total number registered and other adverse credit registered against the applicant.
  • Maximum debt to income ratio

    Value:

    100+ percentage

    Criteria Policy Notes:

    We dont have a maximum as longs as it fits income multipliers and affordability

    Criteria description:

    Indicates the maximum potential debt to income (DTI) ratio we might accept. For example, an applicant has outstanding unsecured debts of £26,000 and a salary of £40,000. Therefore their DTI is 65%. This criteria indicates if we have a maximum and if so what it is.
  • Maximum number of applicants allowed

    Value:

    4

    Criteria Policy Notes:

    4 applicants allowed

    Criteria description:

    Indicates the maximum number of applicants able to go on a mortgage application.
  • Maximum number of applicants income used for affordability

    Value:

    2

    Criteria Policy Notes:

    Further income can be used at underwriter discretion

    Criteria description:

    Indicates how many applicants we can factor into the affordability calculation.
  • 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 need to be lift-served.

    Criteria description:

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

    Warning:

    However, this is not applicable to period city center properties in Scotland.
  • 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.
  • Minimum Income Requirement

    Value:

    20000

    Criteria Policy Notes:

    Bath Building Society has a minimum income requirement of £20,000 after deductions

    Criteria description:

    Indicates if we have a minimum income requirement for residential mortgage applications and if so what it is.
  • Minimum Length of Time in Secondary Employment (in Months)

    Value:

    12

    Criteria Policy Notes:

    Bath Building Society can consider applicants secondary employment subject to a minimum of 12 months in the role.

    Criteria description:

    Indicates if we can consider income from secondary employment and if so what is the minimum requirement (in MONTHS) that the applicant must have held the position for.
  • 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 Loan Size Retirement Interest Only (RIO)

    Value:

    50000

    Criteria Policy Notes:

    Bath Building Society offers Retirement Interest Only (RIO) mortgages from £50,000.

    Criteria description:

    This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so what the minimum loan requirement for Retirement Interest Only (RIO) applications is.
  • 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.
  • Minimum Property Value

    Value:

    100000

    Criteria Policy Notes:

    £100k
    If slightly less we can still look at

    Criteria description:

    Indicates if we have a minimum property value we require for new applications.
  • Minimum Property Value for Retirement Interest Only (RIO)

    Value:

    100000

    Criteria Policy Notes:

    Bath Building Society has a minimum property value requirement of £100,000 for Retirement Interest Only (RIO) mortgages.

    Criteria description:

    This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so if we have a minimum property value requirement.
  • Minimum Term (Years)

    Value:

    5 years

    Criteria Policy Notes:

    5 years

    Criteria description:

    Indicates the minimum term a mortgage can be taken over.
  • Minimum Time Owner Occupier (in Months)

    Value:

    No Minimum

    Criteria Policy Notes:

    Bath Building Society has no minimum requirement for how long an applicant needs to have been an owner occupier.

    Criteria description:

    Indicates if we have a minimum requirement that an applicant must have been an owner occupier for (in MONTHS) in order to be considered for a residential mortgage.
  • Minimum period background property let before can be ignored (months)

    Value:

    0 months

    Criteria Policy Notes:

    Let to buy purposes we can consider straight away

    Criteria description:

    Indicates the minimum period (in months) any background properties that are Let or to be Let must have been Let for before they can potentially be discounted from a commitment point of view for affordability purposes. 
  • Minimum remaining lease at application

    Value:

    50 years

    Criteria Policy Notes:

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

    Criteria description:

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

  • Minimum remaining lease at end of term

    Value:

    50 years

    Criteria Policy Notes:

    50 years unless the application is on I/O, if the case is I/O we would require 80 years left at the end of the mortgage term.

    Criteria description:

    Indicates the minimum required lease remaining at the end of the mortgage term we can potentially accept. For example, Alex is looking to purchase a flat which currently has a remaining lease term of 90 years and wishes to take out a mortgage over 20 years. Therefore his remaining lease at the end of the mortgage term will be 70 years (90-20=70).
  • Months passed where Mortgage Arrears can be ignored

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applicants with any mortgage arrears on their credit file.

    Criteria description:

    Indicates if we can potentially ignore mortgage arrears that are historic and if so at what point they can potentially be ignored when assessing residential mortgage applications.
  • 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 to 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 to 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 to 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 to 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 to us on new build properties.
  • New Build Warranty: Checkmate (Castle 10)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept Checkmate (castle 10) as an acceptable new build warranty.

    Criteria description:

    Indicates if Checkmate (Castle 10) is an acceptable new build warranty to us on new build properties.
  • 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 to 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 to 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 to 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 to us on new build properties.
  • New Build Warranty: Professional Consultants Certificate

    Value:

    Acceptable

    Criteria Policy Notes:

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

    Criteria description:

    Indicates if Professional Consultants Certificate is an acceptable new build warranty to us on new build properties.
  • 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 to 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 to 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 to us on new build properties.
  • New Build purchased off plan

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider an application for a new build purchase 'off plan'

    Criteria description:

    Indicates if we can potentially consider an application for a new build purchase 'Off-Plan'. Buying new build property off-plan means you agree to purchase a property before the property is built or sometimes before construction has even started.
  • Non Simultaneous Sale and Purchase

    Value:

    Acceptable

    Criteria Policy Notes:

    Depending on the applicants circumstances and underwriter discretion

    Criteria description:

    Indicates if we can potentially accept a situation (on a residential basis) whereby an applicant is not selling their related sale property on the same day as the onward purchase. For example, this situation might arise when there is a deadline on a new build purchase and the sale is not quite ready to complete resulting in a non-simultaneous sale and purchase.
  • Number of credit reference agencies used

    Value:

    1

    Criteria Policy Notes:

    We underwrite all cases manually

    Criteria description:

    Indicates the number of credit reference agencies we may use during the entire application process. 
  • 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 mortgage offer is valid for.
  • Offer expiry time (Standard - Remortgages)

    Value:

    120 days

    Criteria Policy Notes:

    Bath Building Society mortgage offers for standard remortgage cases are valid for a period of 4 months

    Criteria description:

    Displays the number of days a standard REMORTGAGE mortgage offer is valid for in DAYS.
  • Offer expiry time (Standard)

    Value:

    120 days

    Criteria Policy Notes:

    4 months

    Criteria description:

    Displays the number of days a STANDARD 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 offer residential offset mortgages (subject to product availability).
  • Other Income: Bursary

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept bursaries as an income type.

    Criteria description:

    Indicates if we can accept Bursary as an acceptable source of income for affordability purposes.
  • Other Income: Foster Care Income

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept foster income as an income type.

    Criteria description:

    Indicates if we can accept foster care income as an allowable income type for affordability purposes. For example, Mr & Mrs Jones receive £20,000 per year in foster care income and wish to apply for a mortgage based upon this income. 
  • Other Income: Income protection/Permanent Health Insurance

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not accept Income protection/Permanent Health Insurance as an income type.

    Criteria description:

    Indicates if we can potentially accept Income protection/Permanent Health Insurance as an income type.
  • Other Income: Lodger Income

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can accept lodger income as an income type providing it is shown on tax returns

    Criteria description:

    Displays if we will potentially accept lodger income as an acceptable source of income for affordability purposes.
  • Other Income: Maintenance (not through the courts)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept maintenance (not through the courts) as an income type.

    Criteria description:

    Indicates if we can accept maintenance that is by verbal agreement between the separating parties as an acceptable source of income for affordability purposes. Specifically, maintenance that is not via court order, CSA assessment or similar.
  • Other Income: Maintenance (through the courts)

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable must a majority of the income must be via an employed or self employed position

    Criteria description:

    Indicates if we can accept Maintenance (through the courts) as an acceptable source of income for affordability purposes.
  • Other Income: Seafarer

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider Seafarer income as an allowable income type

    Criteria description:

    Indicates if we can consider Seafarer income as an allowable income type
  • Other Income: Stipend

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept stipends as an income type.

    Criteria description:

    Indicates if we can accept stipend as an allowable income type for affordability purposes.
  • 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.

  • Partner in a professional LLP: Affordability Assessment

    Value:

    Accounts / SA302

    Criteria Policy Notes:

    Bath Building Society will assess partners in professional partnership LLPS the same as we assess Self-Employed applicants when assessing income.

    Criteria description:

    Indicates how a partner, in a professional Limited Liability Partnerships income, will be assessed.
  • Partner in a professional LLP: Minimum Length of Time Requirement (Months)

    Value:

    36 months

    Criteria Policy Notes:

    Bath Building Society has a minimum length of time in the partnership of 36 months.

    Criteria description:

    Indicates the minimum length of time (IN MONTHS) a person must have been in the Limited Liability Partnership (LLP) for their income to be considered by us.
  • Pension Income: Annuity

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept annuities as an income type.

    Criteria description:

    Indicates if we can accept an annuity as an acceptable source of income for affordability purposes.
  • Pension Income: Pension (Company)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider Company Pension as an acceptable source of income for affordability purposes.

    Criteria description:

    Displays if we will accept Company Pension as an acceptable source of income for affordability purposes.
  • Pension Income: Pension - War Disablement

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept pension (war disablement) as an income type.

    Criteria description:

    Indicates if we can accept Pension - War Disablement as an acceptable source of income for affordability purposes.
  • Pension Income: Pension - War Widower

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if we can accept Pension - War Widower as an acceptable source of income for affordability purposes.
  • Pension Income: Pension Credit

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept pension credits as an income type.

    Criteria description:

    Indicates if we can accept Pension Credit as an acceptable source of income for affordability purposes.
  • Pension Income: Private Pension

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if we can accept Private Pension as an acceptable source of income for affordability purposes.
  • Pension Income: Self Administered Drawdown Pension

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider self administered drawdown pension income. We will use 4% of the pension pot

    Criteria description:

    Indicates if we can consider income from a self-administered drawdown pension.
  • Pension Income: Self-invested Personal Pension (SIPPs)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept income from a Self-invested Personal Pension (SIPPs)

    Criteria description:

    Indicates if we can consider income from a Self-invested Personal Pension (SIPPs)
  • Pension Income: State Pension

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if we can accept State Pension as an acceptable source of income for affordability purposes.
  • 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 residential 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 mortgages are usually portable as standard.
  • 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 we can potentially accept residential applications from an applicant that is acting with Power of Attorney.
  • Previously Repossessed (years ago acceptable)

    Value:

    Not Acceptable years

    Criteria Policy Notes:

    Bath Building Society does not accept applicants that have been previously repossessed.

    Criteria description:

    Indicates if we can accept applicants that have previously had a property repossessed and if so how many years ago we require the repossession to have taken place.
  • Professional Landlord (Rent is primary source of income)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept professional landlords who wish to use rental income as their primary income source

    Criteria description:

    Indicates if we can potentially accept professional landlords where their primary income source is from the rent from their portfolio. For example, Jess wants to obtain a mortgage and her only source of income (or her main source of income) is derived from the rent she receives from her portfolio of rental properties.
  • Professional gambler

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider an application from a professional gambler

    Criteria description:

    Indicates if we can potentially consider an application from a professional gambler on residential applications
  • 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.
  • Properties with Occupancy Restrictions

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider an application on a property with occupancy restrictions.

    Criteria description:

    Indicates if we can consider lending on a property with occupancy restrictions

    Warning:

    Please refer to lender
    Will likely put a LTV cap on the case.
  • 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:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not lend on concrete construction properties.

    Criteria description:

    Indicates if we are able to potentially accept concrete construction properties.
  • 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 are potentially able to accept 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 can potentially lend on properties where the construction type is modern method of construction (MMC).

    Criteria description:

    Indicates if we can potentially accept applications on properties where the construction type is Modern method of construction (MMC).

    Warning:

    Subject to valuers comments
  • Property Construction: Modular and POD Construction

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not lend on properties where the construction type is modular and POD construction.

    Criteria description:

    Indicates if we can potentially consider lending on a property where the construction type is 'Modular' or 'POD'.
  • 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 to valuers comments and a 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:

    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). Subject to being BOPAS accredited.

    Criteria description:

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

    Criteria description:

    Indicates if we can potentially lend on a property that is of Timber-Framed construction built between 1900 to 1970 for residential applications.
  • 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 dated post 1970.

    Criteria description:

    Indicates if we can potentially lend on a property that is of Timber-Framed construction built after 1970 for residential applications.
  • 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 residential 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 Factors: Contaminated Land

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider properties that are situated on contaminated land.

    Criteria description:

    Indicates if we can potentially lend on properties that are on contaminated land.
  • 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 residential applications.
  • Property Factors: Next to Commercial (Class A1 – shops and retail outlets)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on properties that border class A1 commercial premises.

    Criteria description:

    Indicates if we can potentially lend on a property where it borders Class A1 commercial premises. Class A1 businesses are shops and retail.
  • Property Factors: Next to Commercial (Class A2 – professional services)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on properties that border class A2 commercial premises.

    Criteria description:

    Indicates if we can potentially lend on a property where it borders Class A2 commercial premises. Class A2 businesses are professional services.
  • Property Factors: Next to Commercial (Class A3 – food and drink)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not lend on properties that border class A3 commercial premises.

    Criteria description:

    Indicates if we can potentially lend on a property where it borders Class A3 commercial premises. Class A3 businesses are for food and drink.
  • Property Factors: Next to Commercial (Class A4 – drinking establishments)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not lend on properties that border class A4 commercial premises.

    Criteria description:

    Indicates if we can potentially lend on a property where it borders Class A4 commercial premises. Class A4 businesses are drinking establishments.
  • Property Factors: Next to Commercial (Class A5 – hot food and takeaway)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not lend on properties that border class A5 commercial premises.

    Criteria description:

    Indicates if we can potentially lend on a property where it borders Class A5 commercial premises. Class A5 businesses are hot food and takeaway.
  • Property Factors: Next to Commercial (Class B)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not lend on properties that border class B commercial premises.

    Criteria description:

    Indicates if we can potentially lend on a property where it borders Class B commercial premises. Class B businesses are considered further business and industrial activities.
  • Property Factors: Next to Commercial (Class C)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not lend on properties that border class C commercial premises.

    Criteria description:

    Indicates if we can potentially lend on a property where it borders Class C commercial premises. Class C businesses are considered hotels, hostels and dwelling houses.
  • Property Factors: Next to Commercial (Class D)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not lend on properties that border class D commercial premises.

    Criteria description:

    Indicates if we can potentially lend on a property where it borders Class D commercial premises. Class D businesses are considered non-residential institutions. Examples are museums, day nurseries, libraries.
  • Property Factors: Next to Commercial (Sui Generis)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not lend on properties that border class 'Sui Generis' commercial premises.

    Criteria description:

    Indicates if we can potentially lend on a property where it borders 'Sui Generis' commercial premises. Certain uses do not fall within any use class and are considered 'sui generis' (Lit. Unique / of its own kind). Such uses include: theatres, houses in multiple occupation, hostels providing no significant element of care, scrap yards. Petrol filling stations and shops selling and/or displaying motor vehicles. Retail warehouse clubs, nightclubs, launderettes, taxi businesses, amusement centres and casinos.
  • Property Factors: Overhead Power Lines

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on properties that have overhead power lines running above them. If the line do not run directly over the property we can potentially consider a case.

    Criteria description:

    Indicates if we can potentially lend on properties that have overhead power lines running above them.
  • Property Factors: Part Renovated (Is Habitable)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on properties that have been part renovated that are likely to be considered habitable by a surveyor. Subject to valuers comments. If the applicants have their own fund to complete the renovation.

    Criteria description:

    Indicates if we can potentially lend on properties that are 'part renovated' but are in fact considered habitable by a surveyor.
  • Property Factors: Part Renovated (Not Habitable)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on properties that have been part renovated that are likely to be considered NOT habitable by a surveyor. Subject to positive valuers comments / feasibility

    Criteria description:

    Indicates if we can potentially lend on properties that are 'part renovated' and considered non-habitable by a surveyor.
  • Property Factors: Underpinned within last 10 years

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not lend on properties that have been underpinned in the last 10 years.

    Criteria description:

    Indicates if we can potentially lend on properties that have been underpinned in the last 10 years.
  • 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 residential 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 residential applications on properties where the joint ownership is set up on a tenants in common basis where each owner has an unequal share. For example, Applicant 'A' owns 70% of the property and Applicant 'B' owns 30%.
  • 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 residential applications for properties that are owned by a trust.
  • Property Type Studio Flat Minimum Floor Area (Sq Metres)

    Value:

    30

    Criteria Policy Notes:

    Bath Building Society can lend on studio flats that are bigger than 30 sqms

    Criteria description:

    Indicates the area in square metres required when lending on studio flats.
  • 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: Commonhold Properties

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not lend on commonhold properties.

    Criteria description:

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

    Value:

    Acceptable

    Criteria Policy Notes:

    Non standard construction properties not accepted.
    Flats not accepted

    Criteria description:

    Indicates if we are potentially able to lend on ex-local authority houses/bungalows.

    Warning:

    Non standard construction properties not accepted.
    Flats not accepted
  • Property Type: Farmhouse (where farmhouse and land are contiguous)

    Value:

    Acceptable

    Criteria Policy Notes:

    Accepted as long as not commercial. Land needs to be managed on a residential basis

    Criteria description:

    Indicates if we are potentially able to lend on farmhouses where the farmhouse and land are contiguous.
  • 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 are able to 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: Flat above shop (not food outlet)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on flats/apartments that are above a shop that is not a food outlet.

    Criteria description:

    Indicates if we are able to potentially accept flats above a shop that is NOT a food outlet.
  • Property Type: Freehold flats and maisonettes

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society does not lend on freehold flats and maisonettes within England and Wales but we will lend on Freehold (Heritable) flats in mainland Scotland up to a maximum of 70% LTV.

    Criteria description:

    Indicates if we can potentially accept a flat or maisonette where the tenure is freehold.
  • Property Type: Grade 1 Listed Building

    Value:

    Acceptable

    Criteria Policy Notes:

    Refer to lender.
    Assessed on a case by case basis

    Criteria description:

    Indicates if we can potentially consider lending on property classified as a Grade 1 Listed Building. Categories of listed buildings in England & Wales: Grade I: buildings of exceptional interest. Grade II*: particularly important buildings of more than special interest. Grade II: buildings that are of special interest, warranting every effort to preserve them.

    Warning:

    Refer to lender.
    Assessed on a case by case basis
  • Property Type: Grade 2 Listed Building

    Value:

    Acceptable

    Criteria Policy Notes:

    Refer to lender.
    Assess on a case by case basis

    Criteria description:

    Indicates if we can potentially consider lending on property classified as a Grade 2 Listed Building. Categories of listed buildings in England & Wales: Grade I: buildings of exceptional interest. Grade II*: particularly important buildings of more than special interest. Grade II: buildings that are of special interest, warranting every effort to preserve them.

    Warning:

    Refer to lender.
    Assessed on a case by case basis
  • Property Type: Grade 2* Listed Building

    Value:

    Acceptable

    Criteria Policy Notes:

    Refer to lender.
    Assessed on a case by case basis

    Criteria description:

    Indicates if we can potentially consider lending on property classified as a Grade 2* Listed Building. Categories of listed buildings in England & Wales: Grade I: buildings of exceptional interest. Grade II*: particularly important buildings of more than special interest. Grade II: buildings that are of special interest, warranting every effort to preserve them.

    Warning:

    Refer to lender.
    Assessed on a case by case basis
  • Property Type: Mobile homes and houseboats

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not lend on mobile homes and houseboats.

    Criteria description:

    Indicates if we are potentially able to lend on mobile homes and houseboats.
  • Property Type: Studio flat

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can lend on studio flats that are bigger than 30 sqms

    Criteria description:

    Indicates if we can potentially lend on studio flats.
  • Property Usage: Acceptable commercial limit

    Value:

    60 percentage

    Criteria Policy Notes:

    The property must be over 40% residentially occupied. No commercial leases

    Criteria description:

    Indicates the limit we can potentially accept where the property usage has an element of commercial use.

  • Property Usage: Agricultural restrictions

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not lend on properties with agricultural restrictions.

    Criteria description:

    Indicates if we can potentially accept properties that have agricultural restrictions.
  • Property Usage: Bed and Breakfast (B&B)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not lend on residential properties that will continue to be used as a B&B.

    Criteria description:

    Indicates if we can potentially lend on residential applications for properties that are part used as a B&B (Bed and Breakfast).
  • Property Usage: Empty Property (Unoccupied)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not lend on properties that will remain unoccupied after completion.

    Criteria description:

    Indicates if we can potentially lend on residential applications for properties that will be empty/unoccupied following completion.
  • Property Usage: Holiday/Second Home

    Value:

    Acceptable

    Criteria Policy Notes:

    We will consider on a case by case basis as a 2nd property for the customers own use


    Criteria description:

    Indicates if we can potentially accept applications on properties that are to be used as a second or holiday home.
  • Property Usage: Holiday/Second Home maximum LTV

    Value:

    70 percentage

    Criteria Policy Notes:

    70% maximum considered on 2nd homes

    Criteria description:

    If we lend on holiday/second homes, specifies what is the maximum loan to value we can lend when the property usage is second or holiday home.
  • Property Usage: Home for dependant

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can lend on properties where the property use is home for a dependant.

    Criteria description:

    Indicates if we can potentially accept applications on properties that are classed as a home for a dependant.
  • Property Usage: Home for dependant maximum LTV

    Value:

    70

    Criteria Policy Notes:

    Bath Building Society does lend on properties where the property usage is home for a dependant. Up to 70% LTV

    Criteria description:

    If we lend on homes for dependants, indicates the maximum loan to value (LTV) we can consider.
  • Property Usage: Live/Work units

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not lend on properties that are deemed live/work units.

    Criteria description:

    Indicates if we can potentially accept applications on properties defined as Live/Work units.
  • Property Usage: Mixed Use Residential / Commercial

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend on properties that have mixed use commercial/residential. Subject to underwriting. Please call to discuss specific case. Maximum 50% LTV

    Criteria description:

    Indicates if we are able to potentially lend on properties that are classified as mixed use for both residential occupation and commercial use.
  • Property being purchased at auction

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can consider an application where the property will be purchased at auction

    Criteria description:

    Indicates if we can potentially consider an application where the property will be purchased at auction
  • Property has self contained annex

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if we can potentially accept applications on properties that contain a self-contained annex within the grounds of the property.
  • Property with Age Restrictions / Retirement Properties

    Value:

    Acceptable

    Criteria Policy Notes:

    over 55 to 65 acceptable. Maximum 60% LTV

    Criteria description:

    Indicates if we are able to potentially accept applications from applicants who are looking to purchase a property that has an age restriction. For example, Mr Jones is looking to purchase a retirement apartment that can only be occupied by people who are at least 55 years of age.

    Warning:

    age 75 usually not accepted but speak to the BDM for further details
  • Property with Annex where Annex will be Let

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if we can potentially consider lending against a property that has an Annex and the Annex will be Let.
  • Property with Restrictive Covenant Section 106

    Value:

    Acceptable

    Criteria Policy Notes:

    Each 106 needs to be submitted first of all for underwriter approval

    Criteria description:

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

    Value:

    Acceptable

    Criteria Policy Notes:

    As long as no commercial activity is taking place. Up to 10 acres max

    Criteria description:

    Indicates if we are potentially able to accept properties that have a significant amount of land (properties that have acreage).
  • 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:

    Case by case basis. Would need to know full details of the property

    Criteria description:

    Indicates if we are able to potentially accept an application where the security property has more than one kitchen. This is not the same as a property split into two or more units or a House of Multiple Occupation (HMO).
  • Remortgage Purpose: Buy to Let to Residential

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider remortgage residential applications for owner occupation on properties where the existing mortgage is a Buy to Let.

    Criteria description:

    Indicates if we can potentially allow a residential remortgage application for owner occupation where the existing mortgage is on a Buy to Let basis.
  • Remortgage Purpose: For Business Purposes

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not allow capital raising on a remortgage where the purpose of the funds is for business purposes.

    Criteria description:

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

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can consider remortgage applications with capital raising to carry home improvements on a property other than the security property. This would be agreed by exception

    Criteria description:

    Indicates if we will allow capital raising for the purpose of home improvements on a property which is NOT the security property on residential applications.
  • Remortgage Purpose: Pay Tax Bill

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not allow capital raising on a remortgage where the purpose of the funds is for payment of a tax bill.

    Criteria description:

    Indicates if we can potentially consider lending when the reason for capital raising is to raise funds to pay a tax bill.
  • 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 residential applications.
  • Remortgage Purpose: Purchase Overseas Property

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can consider remortgage applications with capital raising to purchase a property overseas.

    Criteria description:

    Indicates if we will allow capital raising for the purpose of purchasing overseas property on residential applications.
  • Remortgage Purpose: Repay Help to Buy

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can consider remortgage applications with capital raising to repay a Help to Buy equity loan in full.

    Criteria description:

    Indicates if we will allow capital raising for the purpose of repaying (IN FULL) their Help to Buy Equity Loan to take their ownership to 100% on residential applications.
  • Remortgage Purpose: Shared Ownership Staircasing to 100% ownership (maximum LTV)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society cannot consider Shared-Ownership applications.

    Criteria description:

    Indicates if we will allow capital raising for the purpose of staircasing to 100% ownership on residential applications that are currently a shared ownership property.
  • Remortgage purpose: Balance Swap (maximum LTV)

    Value:

    70 percentage

    Criteria Policy Notes:

    70% max ltv for £ 4 £ re-mortgage

    Criteria description:

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

    Value:

    70 percentage

    Criteria Policy Notes:

    70% LTV

    Criteria description:

    Indicates the maximum loan to value (LTV) we can accept where the remortgage purpose is to raise funds to buy out a partner or other borrower.
  • Remortgage purpose: Buy to Let Purchase (maximum LTV)

    Value:

    70 percentage

    Criteria Policy Notes:

    70% ltv maximum

    Criteria description:

    Indicates the maximum loan to value (LTV) we will accept when the reason for capital raising is to raise funds to fund or part-fund a buy to let purchase.
  • 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. For example, Trevor owns a property that is worth £200,000 and has a current outstanding balance of £140,000. He would like to consolidate an unsecured loan which has an outstanding balance of £10,000 and therefore needs a total loan of £150,000 giving him a LTV of 75%. 

    Warning:

    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: Gift Money (Maximum LTV)

    Value:

    70 percentage

    Criteria Policy Notes:

    70% maximum

    Criteria description:

    Indicates if we are able, and if so to what loan to value, accept remortgages where the purpose is to raise money to make a gift (for example to children to help with school fees etc or where parent(s) might want to help their children buy their first home).
  • Remortgage purpose: Home Improvements (maximum LTV)

    Value:

    70 percentage

    Criteria Policy Notes:

    70% maximum

    Criteria description:

    Indicates if we are able to and if so to what loan to value, accept remortgages where the purpose is to raise money for home improvements.
  • 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 residential applications.
  • Remortgage purpose: Lifestyle (holidays, car's, non essential spending etc)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider capital raising on a remortgage where the purpose of the funds is 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. For example, John purchased a property at auction 3 months ago and now wishes to remortgage the property to raise some funds. 
  • 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 residential mortgage on a property that has a 'Restricted Sale Price' clause.
  • Retentions (Minor retentions potentially ignored)

    Value:

    No

    Criteria Policy Notes:

    Bath Building Society will not ignore small suggested retentions and if one is made a retention will be made regardless of retention amount.

    Criteria description:

    Indicates if we will ignore valuers small suggested retentions below a certain figure. For example, a lender might ignore any suggestions that are for £2,000 or less.
  • Retirement Interest Only (RIO) Enhanced Terms Where Lasting Power of Attorney (LPA) Exists?

    Value:

    Yes

    Criteria Policy Notes:

    Bath Building Society can potentially offer better lending terms where a 'Lasting Power of Attorney' exists. We offer a better interest rate when lasting power of attorney is in place.

    Criteria description:

    This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so if we can offer enhanced terms (better interest rate, etc) if a 'Lasting Power of Attorney' is in place before completion of the proposed mortgage.
  • Retirement Interest Only (RIO) Joint Applicants First Death Affordability Assessment: Benefit Income

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society won't consider benefit income as part of its ongoing affordability assessment.

    Criteria description:

    Where a joint application is taken lenders will assess the future means of affordability of the surviving borrower following the death of another applicant. This criteria indicates if we offer RIO mortgages and if so, can consider benefit income when assessing their ability to maintain the ongoing mortgage. 
  • Retirement Interest Only (RIO) Joint Applicants First Death Affordability Assessment: Family Assistance

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society won't consider family assistance as part of its ongoing affordability assessment.

    Criteria description:

    Where a joint application is taken lenders will assess the future means of affordability of the surviving borrower following the death of another applicant. This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so can we consider family assistance when assessing their ability to maintain the ongoing mortgage.
  • Retirement Interest Only (RIO) Joint Applicants First Death Affordability Assessment: Investment Income

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society won't consider investment income as part of its ongoing affordability assessment.

    Criteria description:

    Where a joint application is taken lenders will assess the future means of affordability of the surviving borrower following the death of another applicant. This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so can we consider investment income when assessing their ability to maintain the ongoing mortgage.
  • Retirement Interest Only (RIO) Joint Applicants First Death Affordability Assessment: Life Cover

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society won't consider projected proceeds of a life policy as part of its ongoing affordability assessment.

    Criteria description:

    Where a joint application is taken lenders will assess the future means of affordability of the surviving borrower following the death of another applicant. This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so can we consider life cover when assessing their ability to maintain the ongoing mortgage.
  • Retirement Interest Only (RIO) Joint Applicants First Death Affordability Assessment: Other Non Provable Income

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society won't consider other non provable or guaranteed income as part of its ongoing affordability assessment.

    Criteria description:

    Where a joint application is taken lenders will assess the future means of affordability of the surviving borrower following the death of another applicant. This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so can we consider other non-provable income when assessing applicants ability to maintain the ongoing mortgage.
  • Retirement Interest Only (RIO) Joint Applicants First Death Affordability Assessment: Rental Income

    Value:

    Will be considered

    Criteria Policy Notes:

    Bath Building Society can potentially consider rental income as part of its ongoing affordability assessment.

    Criteria description:

    Where a joint application is taken lenders will assess the future means of affordability of the surviving borrower following the death of another applicant. This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so can we consider rental income when assessing an applicants ability to maintain the ongoing mortgage.
  • Retirement Interest Only (RIO) Joint Applicants First Death Affordability Assessment: Survivors Pension

    Value:

    Will be considered

    Criteria Policy Notes:

    Bath Building Society can potentially consider survivors pension income as part of its ongoing affordability assessment.

    For joint applications affordability will be calculated on the lower of the two applicants' income plus any spousal entitlement in the event of first death.

    Criteria description:

    Where a joint application is taken lenders will assess the future means of affordability of the surviving borrower following the death of another applicant. This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so can we consider the survivor's pension when assessing their ability to maintain the ongoing mortgage.
  • Retirement Interest Only (RIO) Lasting Power of Attorney (LPA) Required?

    Value:

    No

    Criteria Policy Notes:

    Bath Building Society will allow RIO without lasting power of attorney but it is offered with a higher interest rate

    Criteria description:

    This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so is it a requirement of Retirement Interest Only (RIO) mortgages that a 'Lasting Power of Attorney' is in place.
  • Retirement Interest Only (RIO) Offered?

    Value:

    Yes

    Criteria Policy Notes:

    Bath Building Society offers Retirement Interest Only Mortgages (RIO).

    Criteria description:

    Indicates if we offer 'Retirement Interest Only' mortgages. RIO mortgages are specifically mortgages that can be taken on an interest-only basis with an open-ended mortgage term where the repayment vehicle is typically sale of property on the occurrence of one or more of the specified life events such as the death of either or both borrowers.
  • Retirement Interest Only (RIO): Can Consider Non-Guaranteed Potential Future Affordability

    Value:

    No

    Criteria Policy Notes:

    Bath Building Society won't consider Non-Guaranteed potential future income to demonstrate long term affordability.

    Criteria description:

    Often times applicants may be in paid employment at the time of application without a guaranteed conventional pension in place for their retirement. They could, however, have other planned methods of generating themselves an income into retirement such as purchasing an annuity with savings or receiving rental income. Whilst this criteria is not specific to those two examples it indicates if we offer Retirement Interest Only (RIO) mortgages and if so if
    are we willing to consider other types of non guaranteed future projected income?
  • Retirement Interest Only (RIO): Minimum Equity Requirement

    Value:

    No Minimum

    Criteria Policy Notes:

    No minimum equity as downsizing isn't an acceptable repayment strategy. We will lend up to 50% of the property value.

    Criteria description:

    This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so do we have a minimum equity requirement. If the repayment strategy is the sale of the mortgaged property, lenders no longer have to assume, as was the case under the previous MCOB rule, that borrowers will need to downsize. Consequently, they do not need to factor into their criteria any specific minimum equity requirement, as is the case with other interest-only mortgages.
  • Retrospective New Build Warranty

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society can not consider retrospective new build warranties.

    Criteria description:

    Indicates if we can potentially lend on residential applications for properties that have been issued with a retrospective new build warranty. These warranties were specifically not in place during the build phase but taken out at a later date following completion.
  • Returning to UK - Employed

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not applications from applicants who are returning to the UK and going straight into employment.

    Criteria description:

    Indicates if we can potentially accept residential applications from an applicant who is returning to the UK and going straight into paid employment. Critically, indicates if a lender will accept an employed applicant (with no current minimum length of time in UK employment) for affordability who is returning from a non UK address to the UK.
  • 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 residential applications from an applicant who is returning to the UK and going straight into Self-Employment. Critically, indicates if a lender will accept a Self-Employed applicant for affordability who is returning from a non UK address to the UK and would essentially have zero UK trading history.
  • Right to Acquire

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept right to aquire applications.

    Criteria description:

    Indicates if we accept Right to Acquire applications.
  • Right to Buy

    Value:

    Acceptable

    Criteria Policy Notes:

    100% of purchase price accepted
    good clean credit history needed

    Criteria description:

    Indicates if we accept Right to Buy applications.
  • Right to Buy Home Improvements Allowed

    Value:

    No

    Criteria Policy Notes:

    Bath Building Society does not accept additional monies being raised at application for home improvements on right to buy applications.

    Criteria description:

    Indicates if we accept Right to Buy cases can we can potentially accept additional monies being raised for home improvements at the point of the Right to Buy initial purchase.
  • Right to Buy Maximum LTV (of discounted purchase price)

    Value:

    100 percentage

    Criteria Policy Notes:

    100% of purchase price accepted

    Criteria description:

    Indicates if we accept Right to Buy cases, the maximum loan to value (LTV) of the discounted purchase price we will consider for Right to Buy applications. For example, John has the right to buy his council home which has been given an open market value of £100,000 with a discount of £35,000. The discounted purchase price is therefor £65,000. 
  • Right to Buy additional lending above discounted price

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept additional lending above the discounted price on right to buy applications

    Criteria description:

    Indicates if we accept Right to Buy cases if we allow a borrower to borrow more than the discounted Right to Buy purchase price to cover other costs and home improvements. For example, John would like to purchase his council home he has been offered for £65,000 which is 100% of the discounted price (£100,000 less a £35,000 discount). He would also like to borrow an additional £5,000 to cover some legal costs and to put in a new kitchen. 
  • Right to Buy joint application sole occupier

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept joint application sole occupier on right to buy applications.

    Criteria description:

    Indicates if we accept Right to Buy cases can we accept a joint application for a Right to Buy application where only one borrower will reside at the property. For example, John wishes to purchase his council home that he has the right to buy on but cannot afford it on his current income. His son has offered to help but has his own separate living arrangements independent from his father. They therefore need to find a lender that would accept a joint application with only one occupier.
  • Right to buy remortgage within pre-emption period - Balance swap

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider a right to buy remortgage balance swap application within the pre-emption period

    Criteria description:

    Indicates if we can potentially consider a right to buy remortgage balance swap application within the pre-emption period
  • Right to buy remortgage within pre-emption period - Capital raising

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider a right to buy remortgage capital raising application within the pre-emption period

    Criteria description:

    Indicates if we can potentially consider a right to buy remortgage capital raising application within the pre-emption period
  • Self Build Accepted

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable through Buildstore

    Criteria description:

    Indicates if we are potentially able to offer self-build mortgages.
  • Self Employed Income: Directors Loan Payback

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept payback of a directors loan as an income that can be used in our affordability assessment.

    Criteria description:

    Indicates if we can accept repayment of a directors loan as an acceptable source of income for affordability purposes. Often directors will first take back any money they introduced into the business as a directors loan before formally drawing a salary or taking dividends.
  • Self Employed Income: Limited Company Directors (Salary and Dividends)

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society. 3 years accounts needed

    Criteria description:

    Indicates if we can accept Salary and Dividends as the components used to assess affordability as opposed to say salary and net profit.
  • Self Employed Income: Limited Company Directors (Salary and Net Profits)

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society. 3 years accounts needed

    Criteria description:

    Indicates if we can accept Salary and Net Profit as the components used to assess affordability as opposed to say salary and dividends.
  • Self Employed Income: Limited Company Directors (Salary and Share of Net Profits AFTER CORPORATION TAX)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept salary and share of net profits AFTER CORPORATION TAX as the primary income used when assessing income from directors of a limited company.

    Criteria description:

    Displays if we will use 'Salary and Share of Net Profit AFTER CORPORATION TAX' as the components used to assess affordabiliy as opposed to either 'Salary and Share of Net Profit BEFORE CORPORATION TAX' or 'Salary and Dividends'
  • Self Employed Income: Limited Company Directors (Salary and Share of Net Profits BEFORE CORPORATION TAX)

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not use salary and share of net profits BEFORE CORPORATION TAX as the primary income used when assessing income from directors of a limited company.

    Criteria description:

    Displays if we will use 'Salary and Share of Net Profit BEFORE CORPORATION TAX' as the components used to assess affordabiliy as opposed to either 'Salary and Share of Net Profit AFTER CORPORATION TAX' or 'Salary and Dividends'
  • Self Employed Income: Limited Company Retained Profits

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept retained profits as an acceptable source of income when assessing affordability.

    Criteria description:

    Indicates if we can potentially consider retained profits as an allowable income type when assessing affordability on residential applications.
  • Self Employed Income: Net Profit (for sole traders and partnerships)

    Value:

    Acceptable

    Criteria Policy Notes:

    3 years accounts needed

    Criteria description:

    Indicates if we can accept Net Profit (for sole traders and partnerships) as an acceptable source of income for affordability purposes.
  • Self Employed: Accounts or Accountant Certificates where Accountant is not Chartered or Certified

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept accounts or accountants certificates from accountants that are not either 'Chartered' or 'Certified'

    Criteria description:

    Indicates if we will accept accounts or an accountant's certificate from an accountant that does NOT have 'Chartered' or 'Certified' status.
  • Self Employed: Amount of shareholding to be considered self employed (percentage)

    Value:

    20 percentage

    Criteria Policy Notes:

    20%

    Criteria description:

    Indicates the point at which we consider a person as self-employed as opposed to employed when they hold a shareholding in the business. The figure indicates the percentage shareholding required to be considered self-employed and anything less than this figure the applicant will be assessed as employed.

  • Self Employed: Can use Projection as Latest Year

    Value:

    No

    Criteria Policy Notes:

    Bath Building Society does not accept a projection for the latest years self employed figures for affordability purposes.

    Criteria description:

    Indicates if we can potentially consider the self-employed applicants latest year figures as a projection from their accountant.
  • Self Employed: Declining Profits

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept income from self employed applicants where profits have declined year on year

    Criteria description:

    Indicates if we can potentially accept a self-employed applicants income where the profits have declined year on year.
  • Self Employed: Latest years self employed figures for affordability

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society can not use the latest years self employed figures solely when assessing affordability.

    Criteria description:

    Indicates if we can potentially use the latest years figures exclusively (rather than an average) for affordability assessment. 
  • Self Employed: Limited Company: Other allowable income

    Value:

    Yes

    Criteria Policy Notes:

    This is acceptable

    Criteria description:

    This indicates if we are able to add back in any accounting deductions. For example for a limited company, allowing car allowance and/or pension contributions to be added to overall customers self-employed income.
  • Self Employed: Loss in Latest Year

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider income from self-employed applicants who have made a loss in the latest year.

    Criteria description:

    Indicates if we can potentially consider Self-Employment income from an applicant how has made a loss in their latest year.
  • Self Employed: Maximum age of latest company accounts for Limited Companies (months)

    Value:

    18 months

    Criteria Policy Notes:

    18 monts maximum

    Criteria description:

    Specifies the max age of the latest company accounts (in months) that we will find acceptable for income proofs for a limited company.
  • Self Employed: Maximum age of latest company accounts for Sole Traders/Partnerships (Months)

    Value:

    18 months

    Criteria Policy Notes:

    maximum 18 months old

    Criteria description:

    Specifies the max age of the latest company accounts (in months) that we will find acceptable for income proofs for a sole trader or partnership.
  • Self Employed: Minimum length of time self employed (months)

    Value:

    36 months

    Criteria Policy Notes:

    3 years normally but we can consider 2 years if the income is consistent over the 2 years

    Criteria description:

    This is the MINIMUM length of time an applicant must have been self-employed for in order for their income to be considered.
  • Self Employed: Recent change in status (sole trader to limited company, etc)

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can consider a recent status change if the ownership structure hasn't changed.

    Criteria description:

    Indicates if we can consider the income from a self-employed applicant on a residential application where a change in self employed status has recently taken place. For example, where an applicant has been a sole trader for 8 years and has recently converted his business status to a Limited Company but has not been trading long enough as a Limited Company to have sufficient accounts. The applicant would need us to consider their income based upon their historic performance as a sole trader.

    Warning:

    Must have 3 years accounts overall.
  • Self Employed: Sole Trader / Partnerships: Other allowable income

    Value:

    Yes

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    This indicates if we are able to add back in any accounting deductions. For example for a sole trader, allowing spousal salary and/or use of home as an office to be added to the net profit figure.
  • Self-Build: Direct to Lender or Packager

    Value:

    Via packager

    Criteria Policy Notes:

    Bath Building Society can accept applications for self-build mortgages via Buildloan ONLY.

    Criteria description:

    Indicates if an adviser can submit a self-build application directly to the lender or is required to go via a packager.
  • Self-Employed: Bounce Back Loan Scheme (BBLS) outstanding

    Value:

    Potentially Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider self-employed income where the applicant has an existing Bounce Back Loan Scheme.

    Criteria description:

    Indicates if we are able to potentially accept self-employed applicants who have a government Bounce Back Loan Scheme outstanding.

    Warning:

    Please refer the whole case to intermediaries@bibs.co.uk
  • Shared Ownership

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society cannot consider Shared-Ownership applications.

    Criteria description:

    Specifies if we can accept shared ownership applications.
  • Shared Ownership Maximum Initial Share (%)

    Value:

    We do not accept shared ownership applications percentage

    Criteria Policy Notes:

    Bath Building Society cannot consider Shared-Ownership applications.

    Criteria description:

    Indicates if we offer shared ownership mortgages and if so what is the maximum initial share we permit for a shared ownership case.
  • Shared Ownership Maximum LTV (of applicants share)

    Value:

    Not Acceptable percentage

    Criteria Policy Notes:

    Bath Building Society cannot consider Shared-Ownership applications.

    Criteria description:

    Indicates if we offer shared ownership mortgages and if so what is the maximum loan to value we can lend on the share the applicant is purchasing on a shared ownership basis. 
  • Shared Ownership Min Initial Share (%)

    Value:

    We do not accept shared ownership applications percentage

    Criteria Policy Notes:

    Bath Building Society cannot consider Shared-Ownership applications.

    Criteria description:

    Indicates if we offer shared ownership mortgages and if so what is the minimum share we permit for shared ownership cases.
  • Shared Ownership remortgage purpose: Capital raising for home improvements

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept Shared Ownership applications.

    Criteria description:

    Indicates if we can potentially consider a shared ownership application with capital raising for home improvements
  • Shared Ownership: Restricted Staircasing

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider applications on shared ownership properties that have a restricted staircasing clause.

    Criteria description:

    Indicates if we can potentially consider residential applications for Shared Ownership cases that have a restricted staircasing clause.
  • Sharia Compliant Mortgages

    Value:

    Not Available

    Criteria Policy Notes:

    Bath Building Society does not offer Sharia compliant mortgages.

    Criteria description:

    Indicates if we offer Sharia compliant residential mortgages.
  • 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 residential 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 but this is at full application not DIP.

    Criteria description:

    Indicates if we will leave a 'soft footprint' when performing a credit search (as opposed to leaving a full/hard footprint on the credit file).
  • Solar Panels

    Value:

    Acceptable

    Criteria Policy Notes:

    Where the solar panels form part of the freehold of the building this will be acceptable.

    Where the solar panels are leased under an ‘airspace lease’ the Solicitor will be required to ensure the lease does not negatively impact on our security

    Criteria description:

    Indicates if we are able to potentially accept properties that have had solar panels installed.
  • Sole application for married couple

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not allow sole applications for married couples where both wish to reside at the property.

    Criteria description:

    Indicates if we are able to potentially accept applications in sole names where the applicant is married and the husband or wife will also be residing in the property. For example, a couple may wish to keep their financial affairs separate to avoid any unwanted disputes if they were ever to split which is sometimes common when people remarry.
  • 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: Cryptocurrency / Bitcoin

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society will not consider this type of deposit.

    Criteria description:

    Indicates if we can potentially accept cryptocurrencies as an acceptable source of deposit.
  • 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 accept applications that are considered a concessionary purchase. Examples of a concessionary purchase are a grandparent selling a property to a grandchild at a genuine discount or a landlord doing the same for a tenant. For example, the property might be worth £150,000 on the open market but the owner is selling it to the buyer for £135,000 with the discount effectively becoming the deposit.
  • Source of deposit: Forces Help To Buy

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept this type of deposit.

    Criteria description:

    Indicates if we accept the forces help to buy scheme as an acceptable source of deposit.
  • Source of deposit: Gift From Immediate Family

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to bath Building Society

    Criteria description:

    Indicates if we accept a gift from an immediate family member as an acceptable source of deposit. Immediate family usually means spouse, parent, grandparent, sibling, child or grandchild but you should check to clarify our specific definition.
  • Source of deposit: Gift from occupier NOT named on mortgage

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept this type of deposit.

    Criteria description:

    Indicates if we accept a gift from an occupier who will not be named on the mortgage. An example of this situation could be whereby two friends or a couple plan to live together and one of them purchases the property and obtains the mortgage where the other party is providing the deposit (as a gift) but will not be named on the mortgage or jointly own the property.
  • 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 accept a gift as a deposit source outside of immediate family members such as a friend, employer or cousin for example.
  • Source of deposit: Loan Repayable on Sale of Property

    Value:

    Not Acceptable

    Criteria Policy Notes:

    Bath Building Society does not accept this type of deposit.

    Criteria description:

    Indicates if we accept a loan that is secured against the property as a second charge, no monthly repayments are made and is repayable upon the sale of the property. For example, this situation could arise where parents want to help out a child to purchase a property but do not want to outright gift the money. The parent would place a second charge against the property so that when the property was sold at a later date the loan would be repaid providing there was sufficient equity remaining after any higher ranking charges (a mortgage for example) were repaid.
  • Source of deposit: Mortgage on additional property

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to bath Building Society

    Criteria description:

    Indicates if we accept monies raised from the mortgage of an additional property as an acceptable source of deposit. For example, Mr & Mrs Smith want to purchase a new home to live in. The purchase price is £200,000 and they are looking to put down a £50,000 deposit. Their deposit is being raised against another property they own which is Let. 
  • 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 deposits that have originated outside of the European Economic Area (EEA) as an acceptable source of deposit to us.
  • Source of deposit: Repayment of Ltd Company Directors Loan

    Value:

    Acceptable

    Criteria Policy Notes:

    Acceptable to Bath Building Society

    Criteria description:

    Indicates if we accept the repayment of a limited company directors loan as an acceptable source of deposit. For example, Tom has a limited company that he personally put some money into when setting the company up. He now wishes to take that money back out of the company and use it to fund his deposit.
  • 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 5% deposit and borrow a 95% mortgage. The 5% deposit is a bank loan.
  • Source of deposit: Vendor Gifted

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially accept the deposit source where it's a vendor gifted deposit.

    Criteria description:

    Indicates if we accept vendor gifted deposits as an acceptable source of deposit. (NOT builder gifted deposit for new build properties). For example, John is looking to purchase a property an estate agent is selling and the current owner (not related to the buyer) has offered to help with a deposit by way of a gift.

    Warning:

    Underwriting referral required
  • Split Mortgage Terms

    Value:

    Allowed

    Criteria Policy Notes:

    Bath Building Society can offer mortgages with split term durations

    Criteria description:

    Indicates if we can potentially consider an application with a split term. For example, an applicant wishes to take one part of their mortgage over 25 years and another part over 10 years. An example of when this might be useful is where the applicant has agreed to repay money back to a parent who lent them some money to get started
  • Sports Professionals

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially lend to applicants who are considered 'Sports Professionals'.

    Criteria description:

    Indicates if we can potentially accept applications from sports professionals and if so how they are treated and assessed.

    Warning:

    Subject to referral
  • 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 residential applications.
  • Transitional Arrangements Offered

    Value:

    Yes

    Criteria Policy Notes:

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

    Criteria description:

    Indicates if we can potentially offer mortgages on a transitional arrangement as defined by the FCA under MCOB 11.8

    Warning:

    Please refer.
  • 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 applicants who have recently been charged for an unauthorised overdraft (either by exceeding their overdraft limit or by simply going overdrawn if they do not have an agreed overdraft limit). These unauthorised overdraft charges will likely appear on the client's recent bank statements.
  • Undervalue transactions

    Value:

    Acceptable

    Criteria Policy Notes:

    Bath Building Society can potentially consider applications that are considered an undervalue transaction.

    Criteria description:

    Indicates if we are able to potentially accept applications where the transaction constitutes an undervalue transaction.

    Warning:

    Please refer the case with full details
    Agreed on a case by cases basis
  • 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 residential 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 an application from an applicant that holds a Working Tier 1 Visa. These visas can be issued to Entrepreneurs, Exceptional Talents, Graduate Entrepreneurs, and Investors.
  • 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 an application from an applicant that holds a Working Tier 2 Visa. These visas can be issued to General workers who've been offered a skilled position in the UK, Intra-company Transfers, Ministers of Religion and Sportspersons.