Bath Building Society was launched in 1904 and was at first an Investment Society, using customers investments in order to purchase properties for rental. In the 1950s it became a Building Society loaning money to customers in the City of Bath to purchase homes of their own.

Bath Building Society grew from assets worth over £10m to presently around £200m. Its Head Offices were in Charles Street, Bath for many years but in 2006 it moved its Head Quarters to 15 Queen Square, Bath. Bath Building Society has remained an independent mutual society whilst other building societies in Bath have merged with others over the years. They have four branches in Bath.

The mortgages they offer are Residential Mortgages for the purpose of buying or remortgaging houses; Parental Assistant Mortgage Scheme (PAMS); Income Plus – ‘Mates Mortgages’; Buy for Uni (Student Mortgages); Buy to let Mortgages and Holiday Homes Mortgages.

Residential Mortgages

Below is an example of one of their Residential Mortgages, others are available for 3 year terms.

Residential Lifetime Standard Variable Rate (SVR) two-year tie in mortgage

• A 5.29% interest rate which currently is based on the SVR
• This is a variable rate mortgage
• The Loan to Value (LTV) is up to 80% with a minimum loan value of £25,001
• Overpayments are permitted up to 10% of the sum total
• There is an arrangement charge of a minimum of £699
• There is an administration charge of £100
• An early repayment charge in the course of the first two years is 3%  of the monetary repayment with a final administration charge which presently is £150
• This mortgage can be moved

Parental Assistant Mortgage Scheme (PAMS) (Three Year Discount 0.4%)

Below is an example of one of their Parental Assistant Mortgage Scheme (PAMS), there are others available.

• A 4.89% interest rate which currently is based on the SVR for three years followed by 5.29% subsequently
• This is a variable rate mortgage
• The Loan to Value (LTV) is up to 90% on purchases but is subject to individual circumstances. The minimum loan is £30,000 with maximum loan of £250,000, with a property value of a minimum of £60,000
• Overpayments are permitted up to 10% of the sum total
• There is an arrangement charge of a minimum of £599
• There is an administration charge of £100 which is not refundable
• An early repayment charge in the course of the first three years is 3% of the monetary repayment with a final administration charge which presently is £150
• This mortgage can be moved

Income Plus – ‘Mates Mortgages’

Recently the government asked lenders to put forward ‘mates mortgages’ dealing with the matter of individuals being unable to borrow sufficient money in order to join the ‘property ladder’ due on their earnings not being enough, but if they were to purchase a property with a friend then this could help. There are problems attached to this situation such as if your ‘mate’ will only share the house rather than the financial outgoings or if you are the one who has the money to make the deposit but your ‘mate’ will not be contributing and along the way you fallout as friends, these things can and do happen so the Bath Building Society has come up with ‘Income Plus’ which permits an applicant to loan what they require but without having to commit to a long term agreement with their mate. Details of the mortgage are as follows:

• 50% of the loan total can be supplemented by rental revenue made from leasing out a room within the house/property
• The rest of the loan total has to be supplemented by earnings
• The total being supplemented by the rent must not be greater than three times of the borrower’s earnings

Buy for Uni (Student Mortgages) with Two year Discount of 0.25%

Below is an example of one of their Buy for Uni (Student Mortgages), there are others available.

• A 5.04% interest rate which currently is based on the SVR for two years followed by 5.29% subsequently
• This is a variable rate mortgage
• The Loan to Value (LTV) is up to 100% on purchases but is subject to individual circumstances. The minimum loan is £30,000 with a property value of a minimum of £60,000
• There is an arrangement charge of a minimum of £599
• There is an administration charge of £100 which is not refundable
• An early repayment charge in the course of the first two years is 3% of the monetary repayment with a final administration charge which presently is £150. 
• This mortgage can be moved

Buy to let Mortgages Lifetime Standard Variable Rate (SVR) Two-year tie mortgage

Below is an example of their Buy to let Mortgageswhich gives some of its features

• A 5.29% interest rate which currently is based on the SVR and is for the life of the mortgage
• This is a variable rate mortgage
• The Loan to Value (LTV) is up to 80% with a minimum loan value of £50,000 and a minimum property value of £100,000 and a maximum loan value of £250,000
• There is an arrangement charge of a minimum of £999
• There is an administration charge of £100
• An early repayment charge in the course of the first two years is 3% of the monetary repayment with a final administration charge which presently is £150
• This mortgage can be moved

Holiday Homes Mortgages (Holiday Let Lifetime SVR + 0.79% for three year tie in)

Below is an example of their Holiday Homes Mortgage which gives some of its features

• A 6.08% interest rate which currently is based on the SVR and is for the life of the mortgage
• This is a variable rate mortgage
• The Loan to Value (LTV) is up to 75% with a minimum loan value of £30,000 and a minimum property value of £100,000
• There is an arrangement charge of a minimum of £999
• There is an administration charge of £100
• An early repayment charge in the course of the first three years is 3% of the monetary repayment with a final administration charge which presently is £150
• This mortgage can be moved

The Bath Building Society is great for mortgages for Students being a building society located in a city with a large University population.