Bath BS increases maximum loan size and broadens criteria

Published on

Bath Building Society has announced a series of criteria updates designed to give brokers greater flexibility and improve the experience for clients across both residential and buy-to-let lending.

The maximum loan size has been increased to £2 million for standard residential and buy-to-let products, while the minimum loan has risen to £75,000.

For limited company buy-to-let and holiday let mortgages, the minimum loan threshold is now £100,000.

In a move aimed at improving turnaround times and reducing costs, the society has also broadened its Automated Valuation Model (AVM) limits.

Other changes include removing the requirement for dual legal representation on limited company transactions involving buy-to-let or holiday let properties, and allowing gifted deposits from parents living outside the UK.

Bath Building Society has also confirmed that Right to Buy applications will now be accepted on flats and apartments, subject to standard criteria.

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

TMG Mortgage Network strengthens finance team with senior appointment

TMG Mortgage Network has appointed Donna Bibby as head of finance, with responsibility for...

Homeowners turn to mortgage brokers for guidance ahead of Budget

Mortgage brokers could face increased demand for advice following the Autumn Budget, with 93%...

Halifax updates mortgage application platform ahead of Lloyds rebrand

Halifax Intermediaries has introduced an updated online mortgage application system designed to simplify case...

Northern England dominates property hotspots as buyers seek better value

More than half of England and Wales's 50 leading emerging property hotspots are in...

FSB sets out 12 principles for managing AI risks in financial services

The Financial Stability Board (FSB) has published 12 sound practices designed to help financial...

Latest publication

Other news

TMG Mortgage Network strengthens finance team with senior appointment

TMG Mortgage Network has appointed Donna Bibby as head of finance, with responsibility for...

Homeowners turn to mortgage brokers for guidance ahead of Budget

Mortgage brokers could face increased demand for advice following the Autumn Budget, with 93%...

Halifax updates mortgage application platform ahead of Lloyds rebrand

Halifax Intermediaries has introduced an updated online mortgage application system designed to simplify case...