Is Bath Building Society’s equity release alternative the best option for you?

When it comes to retirement finance, it is vital to take a look at all your options.

Fortunately, we are here to help you.

At SovereignBoss, our research team has spent countless hours reviewing both equity release and its alternatives and compiling it together in an easy-to-use format.

Does Bath Building Society offer the ideal equity release alternative for you and your family?

NOTE: SovereignBoss is an impartial and unconnected third-party information provider via this website, and the details replicated in this commentary represent the opinions of SovereignBoss only and may not reflect the views or opinions of Bath Building Society. This article must not be interpreted as advice, nor is it a solicitation to conduct transactions in any financial product provided by Bath Building Society.

Who Is Bath Building Society?

Bath Building Society is a trading name of the Bath Investment and Building Society, with headquarters in Bath, England.

Set up in 1904 as a friendly society, the society now focuses on savings and mortgages.

The mortgage business specialises in offering niche residential mortgage products to meet the individual demands of customers.

Popular products include rent-a-room and buy-for-university mortgages, as well as products targeted at first-time buyers and retired customers.

Bath Building Society is a member of the Building Societies Association.

Why You Should Consider Bath Building Society

You should consider Bath Building Society as it does offer alternative retirement mortgage solutions.

Bath Building Society aims to help it's customers achieve their ultimate financial goals.

The business first opened in 1904 in the Georgian city of Bath, England.¹ With over 100 years of experience, you are bound to benefit from top-notch financial expertise if you select Bath Building Society.

Does Bath Building Society Offer Equity Release and Lifetime Mortgages?

No, Bath Building Society does not offer equity release products.

Does Bath Building Society Have an Equity Release Calculator or Alternative?

No, Bath Building Society does not have an equity release calculator, but it does have a mortgage affordability calculator.

If you are looking for an equity release calculator, use the one below for approximated figures.

Bath Building Society Customer Reviews

Have a look what customers are saying about Bath Building Society.

• Bath Building Society reviews on SmartMoneyPeople.com
• Reviews of Bath Building Society on Glassdoor.com
• Bath Building Society reviewed on UK.TrustPilot.com

How Did We Review the Information on Bath Building Society?

We reviewed Bath Building Society based on the following:

• Reputation and History – How many years they have been in business, customer reviews, and industry rewards received.
• Financial Strength – Ensuring it is going strong and has adequate funds to meet long-term commitments.
• Product Range – We favour companies offering a variety of equity release schemes with greater product flexibility.
• Interest Rates and Fees – We review competitive rates compared to industry averages and they must be fully transparent about rates and fees without hidden costs.
• Customer Service and Support – When and how it is available, response times, and available online educational resources. As well as online tools, like a calculator.
• Code of Conduct and Compliance – We only consider companies that adhere to recognised industry standards and codes.
• Industry Insights and Peer Reviews – We care about a company’s industry-wide reputation.
• Innovation and Technology – Is there a streamlined, digital application process?
• Client Testimonials – Success stories and the complaints resolution process.

Our article on Bath Building Society is independent. We are not affiliated with this firm.

Customer Complaints

If you are dissatisfied with Bath Building Society and want to make a complaint, the best place to do so is on it's website.

It is concerned about it's clients and will direct you to the appropriate department where necessary.

An alternative option would be to provide an assessment on a review site like Trustpilot or Feefo.

What Are the Advantages and Disadvantages of Using Bath Building Society?

The advantages of Bath Building Society include its long-standing history of over 100 years, however, a disadvantage is that it does not offer equity release mortgages.

More information:

Pros

The pros of Bath Building Society are:

• Over 100 years of experience.
• No early repayment charges.
• Maximum LTV of 50%.
• It's plans are available for house purchasing or remortgaging.

Cons

The cons of Bath Building Society are:

• No equity release, only RIOs. Therefore, interest repayment is compulsory.
• You can risk foreclosure if you fail to make payments.
• Few schemes for retirees to select from.
• Completion fees.

Bath Building Society’s Alternative to Equity Release Schemes

Bath Building Society’s alternative to equity release includes a Retirement Interest-Only (RIO) mortgage.

What Are Bath Building Society’s Fees?

Bath Building Society’s fees may include an application fee.

The society may also offer you a free valuation however, providers sometimes charge for this depending on your plan.

Learn More About Bath Building Society

Bath Building Society was originally a Friendly Society that used its members’ money to buy a rental property.

It changed its name to a Building Society in the 1950s and began lending money to those who wanted to buy their own homes.

As one of the UK’s smallest Societies, it is committed to providing a personal service to its members.

It does not have automated contact centres, so when you phone the society, you will get directly through to the team and have direct access to the decision-makers.

And because it is a small Society, it has a lot more flexibility in terms of meeting the needs of individual clients.

It has two branches in central Bath and Oldfield Park, as well as six regional agencies and customer care staff.

All this makes it very convenient to do business with the society in person, over the phone, via live chat, or by email.

FCA Details

Trading Names

Bath Investment & Building Society

FCA Permitted Services

• Insurance
• Banking
• Mortgages and Home Finance
• Investments
• Other Services

Regulators

• Financial Conduct Authority (FCA)³
• Prudential Regulation Authority (PRA)⁴

Registration Numbers

• FCA Ref Number: 206026
• Mutuals Reg Number: 30B

FCA and Mutuals Links

• FCA Link: FCA Link
• Mutuals Public Register Link: Mutuals Link

Bath Building Society Contact Number and Address

• +44 122 544 5271
• mortgages@bibs.co.uk
• 15, Queen Square, Bath BA1 2HN, United Kingdom.

Common Questions

In Conclusion

Even though Bath Building Society does not offer equity release, it may still offer a retirement mortgage solution suitable to your needs.

Speak to a financial adviser to discuss your later-life lending options.

The features mentioned and the amounts raised, are subject to the lender’s criteria, terms and conditions. These may take into account the age, health and lifestyle factors in order to provide an enhanced amount. To understand the features and risks, ask for a personalised illustration.