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Bath Building Society launches 100% LTV guarantor mortgage

Bath Building Society is launching a 100 per cent loan-to-value three-year fixed rate guarantor mortgage with a 5.29 per cent rate.

The parent-assisted mortgage scheme is limited to applicants in the South West of England. It requires third party collateral in the form of a charge on the parental home equivalent to 25 per cent of the house being purchased.

The product has an administration fee of £100 and an arrangement fee of 0.5 per cent of the advance, with a minimum of £599.

The society lends direct and through intermediaries.

Bath Building Society chief executive Dick Jenkins says: “The 100 per cent PAMS is intended to open up home ownership to a wider demographic in a responsible, sensible way, giving young people the opportunity to enjoy the benefits of home ownership just as their parents did.This is also a sign of confidence that the housing market is starting to slowly recover and that first-time buyers will be a part of that recovery.

“Let me be clear this is not a return to the indiscriminate 100 per cent lending that was in vogue on the eve of the credit crunch. We will be assessing all applicants carefully to make sure the deal is right for them and that they are comfortable with how the mortgage works.”


Yorkshire Building Society mortgage lending up 12% to £4.6bn

Yorkshire Building Society’s new mortgage lending rose 12 per cent in 2012 to £4.6bn, up from £4.1bn in 2011. The building society’s annual accounts, published today, show pre-tax profit rose 21 per cent from £129.7m in 2011 to £157.1m. First-time buyers accounted for 38 per cent of all house purchase mortgages. New lending above 85 […]

Banks review advice after FSA mystery shop

Banks and building societies have been forced to retrain advisers and carry out past business reviews following an FSA mystery shopping exercise which revealed widespread failings in investment advice. Money Marketing understands as a result of the review Santander has been referred to enforcement. Firms have agreed to make substantial changes to their advice processes […]

Baring Asset Management hires global distribution head

Baring Asset Management has appointed Angus Woolhouse as global head of distribution. Woolhouse replaces George Harvey who will be retiring from the industry at the end of April after over 14 years with the firm. Woolhouse was most recently a strategic adviser to several asset managers and has previously held a number of senior roles […]


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