We have no current plans to withdraw these products but they may be withdrawn without notice. Please ask for a personalised illustration
Buy For Uni Mortgage Lending Criteria and Information
Loan size |
Minimum £30,000, Maximum £250,000 |
Property |
Minimum property value £50,000 |
Term |
Minimum 5 years Maximum 40 years |
Age |
Minimum 18 years, no maximum subject to income at retirement |
Repayment Types |
Repayment, interest only |
Loan to value |
Up to 100%, to include fees where added available subject to conditions, see underwriting below. |
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Underwriting
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Mortgage can be in the name of
the parent and the student, or of the student on their own.Mortgages
in the name of the student will require a guarantee from a parent.
Property must be within a 10 mile radius of the university attended.
Evidence will be required of university place. For loans greater
than 75% loan to value, additional security will be required
in the form of a charge over the parental property. This means
you may find it more difficult to raise capital against the
equity ion your home and in the event of default, your home
may be at risk. Maximum total charges over additional security
must not exceed 70% of its' value.
We do not credit score.
The actual rate and APR for your case will depend upon your
circumstances and our assessment of the risk.
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Income
Rental / Income requirements
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Combination of rent and parental income can be considered.
Rent to cover 125% of interest at pay rate
Income can be used to cover any shortfall in rental cover
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Valuation Fee Scale
Fees include VAT
Property Value – Up to: |
Valuation report |
Homebuyers report |
£80,00 |
£110 |
£265 |
£100,000 |
£120 |
£285 |
£110,000 |
£130 |
£295 |
£120,000 |
£140 |
£305 |
£130,000 |
£150 |
£315 |
£140,000 |
£160 |
£325 |
£150,000 |
£170 |
£340 |
£175,000 |
£185 |
£360 |
£200,000 |
£205 |
£390 |
£250,000 |
£240 |
£430 |
£300,000 |
£275 |
£470 |
£400,000 |
£310 |
£510 |
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Contact Details
Please contact Ben Hutchings on 01225 475702 or mobile 07738 321946 to discuss your requirements
Alternatively email bhutchings@bibs.co.uk or click here to request a call back
Head Office: 15 Queen Square, Bath BA1 2HN
Bath Investment & Building Society is authorised and regulated by the Financial Services Authority for advising, lending and administering Regulated Mortgage Contracts. Our FSA registration number is 206026. English law applies and we will communicate with you in english. We are participants in the Financial Ombudsman Service. We have a complaints procedure which we will provide on request. Most complaints that we cannot resolve can be referred to the Financial Ombudsman Service.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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