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FAQs – existing customers

Please have a look at our frequently asked questions for help and support for existing Bath Building Society customers. We recognise that over the lifetime of a mortgage, your circumstances will probably change. If you need advice or would like to make changes to your mortgage, we can help. If you can’t find the answer you’re looking for below, please contact us via live chat or call the mortgage admin team on 01225 475730.

We will contact you towards the end of your term to discuss the best new deals available for existing customers looking to transfer mortgages.

How could the base rate change affect my mortgage payments?
  • I have a fixed rate mortgage

    The Bank of England base rate changed on 16th December 2021 from 0.10% to 0.25%. This change won’t affect your mortgage payments at the moment. We’ll get in touch with you towards the end of your fixed rate period to let you know what happens next.

     

     

  • I have a variable rate mortgage

    The Bank of England base rate changed on 16th December 2021 from 0.10% to 0.25%.  This means your variable rate mortgage payments are likely to be changing soon. We’ll send you details of any change to your interest rate and mortgage payments by post. You don’t need to do anything until you receive this.  In any event, if you pay by Direct Debit, we will make the necessary change to your payment once we have notified you.  Please do not cancel your Direct Debit.

     

  • Contact us

    If you have any questions please contact our mortgage team

Manage your mortgage
  • How can I find out how much I owe?

    We send out annual mortgage statements at the beginning of the calendar year. However, if you need to request a copy please contact our mortgage team and we will send a copy free of charge.

  • Can I make overpayments?

    Most mortgages now offer you the option of making overpayments. Making overpayments can help you repay your mortgage before the end of the term, which will save you money on interest. While you are in a preferential rate period, we allow you to pay up to 20% of the balance outstanding as at 1st January, each calendar year without incurring an early repayment charge. When your preferential rate period expires, you would be able to make any additional overpayments or even pay off your mortgage in full without incurring an early repayment charge.

  • I would like to change the bank account associated with a mortgage, do you have a direct debit form?

    Yes you can download one here.

    Or contact the team who will be happy to send one to you.

  • Where can I go for help if I run into financial difficulties?

    However carefully you plan, we know that circumstances can change during the term of your mortgage.  Illness, redundancy or relationship breakdown, for example, may have an adverse affect on your ability to repay the mortgage.

    If you do experience difficulties, you should contact us as soon as possible. We will deal with you sympathetically and positively.

    You can also ask for help from debt counselling organisations. At your request and with your consent, we will liaise wherever possible with debt counselling organisations that we recognise, for example the Citizens Advice Bureau, MoneyHelper or StepChange Debt Charity.

  • Can I take a mortgage payment holiday?

    A 12-month Capital Repayment holiday may be available for certain mortgages. During this period, you will still have to make monthly repayments in respect of the interest due. You will need to check your mortgage conditions to see if your mortgage allows this, or contact us to see if you are eligible. Before we make a decision about whether to allow a Capital Repayment holiday, we will need to consider your circumstances and the reason for the request. To be considered for this feature, you must have made your first 6 months repayments and all previous repayments must have been made on time and in full. Capital Repayment holidays will be considered for the following life events; Parental Leave, redundancy/unemployment, long term sickness or death of a joint borrower. It is important that you understand that after taking a Capital Repayment holiday, your monthly repayments will increase. The amount of capital that was not repaid during the period will be spread across your remaining mortgage term and your repayments increased accordingly. You can apply for a maximum of 12 months Capital Repayment holiday once during the life of the mortgage.

  • Can I change the repayment method on my mortgage?

    This may be possible subject to certain criteria. Contact our mortgage team for professional advice.

  • How can I change the correspondence address on my mortgage account?

    To change the correspondence address we hold for your mortgage account we will require either:

    • A request for this change in writing with a signature matching what we hold on file, or
    • A phone call from the borrower, answering a series of security questions

    When there’s joint borrowers we will need confirmation from all parties.

  • Can I remove or add a person on my mortgage account?

    If you need to remove or add a name to your mortgage you’ll need to contact our mortgage team on 01225 475730.

  • If I move house and take out a new mortgage with the Society, do I have to pay the Early Repayment Charge?

    If you move house you may be able to transfer your current mortgage to your new house subject to meeting the Society’s lending criteria. This is called ‘porting’ and will be shown in your product specification sheet and in your Mortgage Offer Conditions.

  • What do I do when a mortgage account holder dies?

    When someone dies the administration can be overwhelming. If you are dealing with a Bath Building Society mortgage, we will do all we can to make the process as simple as possible for you. Call the mortgage admin team on 01225 475719 or email mortgageadmin@bibs.co.uk. If you’d prefer to see someone face-to-face you can make an appointment to pop into our head office.

  • How to complain

    At Bath Building Society we do our best to provide a first-class service. Occasionally, however, things can go wrong. If they do, our staff are here to try and put them right.

    Please read our formal complaints process, or request a copy from our mortgage admin team.

    Should we be unable to resolve your complaint to your satisfaction, you may be able to refer it to the Financial Ombudsman Service (FOS). The FOS was set up by Parliament to resolve individual complaints between consumers and financial service businesses, and is free to consumers. More information can be found on the FOS website – www.financial-ombudsman.org.uk

     

  • Contact Us

    Can’t find what you’re looking for? Contact our mortgage team today for more help and advice. You can use live chat, call us on 01225 475719 or email us: mortgageadmin@bibs.co.uk

Borrowing more
  • What can I do if I'm thinking about borrowing more on my mortgage?

    If you already have a mortgage with us and you want to borrow more funds, you could be eligible to apply for additional borrowing. This is called a ‘further advance’, and it’s a way of borrowing against the value of your home. The easiest way to check if you qualify for a further advance on your mortgage with Bath Building Society is to call our mortgage team on 01225 475730 or email: mortgageadmin@bibs.co.uk.

    It is important that you are aware that any additional borrowing will be secured against your property and your mortgage balance will increase.

  • What is my Loan To Value?

    Loan To Value (LTV) is a ratio between the size of the loan you would like, against the value or sale price of the property you wish to re-mortgage or purchase. Generally the lower your LTV, the lower your interest rate is likely to be.

    When applying for additional borrowing you need to consider your outstanding balance on your existing mortgage as well as the amount you are looking to borrow in addition. It is the total of these two that will be used to decide your loan to value for any further borrowing.

    The value of your property may have changed over time and we may need to update the valuation in some circumstances.

    If the loan exceeds a certain percentage of your property value you may need to pay a higher lending charge.

  • Is there a minimum amount I can borrow?

    The minimum amount of an additional borrowing loan that we will consider is £5,000.

  • Contact Us

    Can’t find what you’re looking for? Contact our mortgage team today for more help and advice.

Coming to the end of your deal?
  • What happens at the end of my discounted or fixed rate mortgage?

    If your existing mortgage with us is coming to an end you may be able to switch to one of our transfer products for loyal customers. We will write to you with the options available about 12 weeks before your existing mortgage is due to expire so there is no need to contact us.

  • Contact Us

    Can’t find what you’re looking for? Contact our mortgage team today for more help and advice. You can use Live Chat, call us on 01225 475719 or email us: mortgageadmin@bibs.co.uk

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