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Residential mortgages

Please note: Our mortgage products are temporarily unavailable as we manage our current application volume while maintaining service standards. We’ll reintroduce our full range once we’ve caught up with existing applications, please check back for updates.​​​​​​​​​​​​

Buying your own home is one of the biggest financial decisions you’ll ever make. We understand no two borrowers are the same which is why we offer a flexible approach to mortgage criteria with manual underwriting. The range includes 95% Residential mortgages, where you only need a 5% deposit to get on the property ladder.

Our Standard Residential mortgages offer a Joint Borrower Sole Proprietor option, which may be useful if affordability is tight, as we take into account parent’s income when assessing the mortgage application, without them becoming a legal owner of the property. Give our mortgage team a call to chat about your individual situation.

Mortgages are secured against your home. You could lose your home if you do not keep up payments on your mortgage.

Affordability calculator

Find out how much you can borrow with our affordability calculators.

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Monthly payments calculator

Use the calculator to find out what your monthly payments might be based on the mortgage product and the type and term of your borrowing.

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Mortgage details

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Please scroll down for monthly payments by product.

This is the maximum amount based on the information you provided. Your mortgage adviser will take you through the application process and will calculate the amount you can afford to borrow based on your income after the deduction of those expenses and commitments. Further restrictions may apply for specialist products.

  • Representative example

    Representative example: A mortgage of £243,750.00 taken out for a period of 33 years on a repayment basis.
    Monthly instalments: £1,319.55 per month for 23 months, followed by £1,544.65 per month for 36 months, and finally £1,699.39 per month for 336 months.
    Total amount payable: £657,052.09
    Total amount of credit: £243,750.00
    The total amount payable includes a valuation fee of £0 , a product fee of £0 and a closing fee of £100.
    The overall cost for comparison is 7.5% representative APRC.
    This example is based on our Residential 95%, 2 year variable (fee saver) mortgage. It is based on our current Standard Variable Rate of 7.79% with no fees added to the mortgage.

    Please ask for a personalised illustration for your own particular requirements.

  • Repayment type
    Interest only and repayment options available
  • Key features
    • Availability – Purchase & Remortgage up to 95% Loan To Value (LTV). Minimum deposit of 5% required.
    • Flexibility – Overpayments up to 20% of the capital balance as at 1st January are allowed in each calendar year without penalty.
    • Portable.
  • Early repayment

    For full repayment of a 5 year fixed product, you will pay 3% of the outstanding balance in years 1, 2, 3 & 4; 2% in year 5, plus a Closing Administration Fee (currently £100).

    For overpayments of a 5 year fixed product, you will pay 3% on any amount exceeding your 20% limit in year 1, 2, 3 & 4, 2% in year 5.

    For full repayment of a 2 year fixed or discounted product, you will pay 3% of the outstanding balance in the first year and 2% in the second year, plus a Closing Administration Fee (currently £100).

    For overpayments of a 2 year fixed or discounted product, you will pay 3% on any amount exceeding your 20% limit in the first year and 2% in the second year.

  • Product fees
    • Valuation fee.
    • Product fee £999 (except for Fee Saver mortgages).
  • Lending criteria

    Residential Lending Criteria and Information

    Loan: Size: Minimum £50,000, Maximum £650,000 at 95%, up to £750,000 at 80% and up to £1,500,000 at 75%.
    Term: Minimum 5 years, Maximum 40 years.
    Property: Minimum Value: £100,000. Must be in England, Wales or Mainland Scotland, Shetland, Orkney, Arran, Bute, Skye, Harris & Lewis, Mull and Islay.  We are also unable to offer a Right To Buy mortgage in Scotland.
    All applicants: Must be a UK resident. Minimum age 18. Maximum age 85, subject to income in retirement.
    Income: Household income must be at least £20,000.

    No minimum period of employment, but must have passed probation, or have 3 years self employment history.

    The amount we will lend will depend on the value of the property and a calculation based on income and expenditure. As a guide, we will take gross annual income and then apply a deduction for the annual amount paid towards any existing debts or other financial commitments. We apply the following multipliers to the amount remaining:

    Income After Deductions Sole Borrower Joint Borrowers
    £20,000-£50,000 single or under £100,000 joint 5x 5x
    Over £50,000 single or over £100,000 joint 6x 6x

    These multiples are for guidance only and do not guarantee that we will lend the amount indicated. We will carry out a full assessment of your income and expenditure to ensure that you can afford your mortgage both now and in the future.

    Criteria Residential Standard Credit Repair
    LTV 95% 80% 70%
    Defaults None in the last 6 years Satisfied over 2 years Maximum £5,000 registered over 2 years
    CCJ’s / Sheriff Court Decree (Scotland) None in the last 6 years Maximum £500 registered in the last 3 years, satisfied at application Maximum £5,000 registered over 2 years
    Mortgage/Rent Arrears None in the last 3 years Maximum status 1 in the last 2 years, satisfied for at least 6 months Maximum status 2 in the last 2 years, satisfied for at least 3 months
    Unsecured Arrears (loans, credit cards, hire purchase etc.) None in the last 3 years Maximum status 1 in the last 2 years (Utilities & mobiles ignored up to £250) Maximum status 2 in the last 2 years (Utilities & mobiles ignored up to £500)
    Bankruptcy/IVA/Sequestration/Protected Trust Deed (Scotland) None in the last 6 years Satisfied over 3 years Satisfied over 2 years
    Pay day loans None in the last year None in the last year Ignored
    DRO/DPP (Scotland)/DMP None in the last 6 years Satisfied over 2 years Satisfied over 1 year

     

    Underwriting: We take a flexible approach to underwriting and will consider each case on its merits. We do not credit score. The actual rate and APRC for your case will depend on your circumstances and our assessment of the risk.

  • Useful stuff

    Mortgage Insurance

    Mortgage Conditions

    Mortgage Conditions Scotland

Customer feedback

Read what our members say about Bath Building Society on the review platform, Smart Money People

How to apply

Email us

directsales@bibs.co.uk

 New direct customers

Call us on 01225 475730
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Mortgage products withdrawal

Our mortgage products are temporarily unavailable as we manage our current application volume while maintaining service standards. We’ll reintroduce our full range once we’ve caught up with existing applications, please check back for updates.​​​​​​​​​​​​ We apologise for any inconvenience caused.