(a) To receive deposits and to guarantee the payment of interest on and the
repayment of such deposits.
(b) To advance money to any depositors desiring to purchase or acquire a dwelling house
or dwelling houses in the City of
Birmingham, or any interest therein.
(c) To utilise and invest the funds of the Bank in accordance with the Act and the regulations made thereunder, or such other
regulations as may be made as therein provided.
These Rules, in relation to objectives (a) and (b), referred to the
'Savings Bank Department' and the 'Housing Department' respectively. The 1919 Rules were subsequent to the Bank's 'Savings and Housing
Bank Regulations' (approved by the Treasury: August 25th 1919). These regulations were subsequently surplanted by The
Birmingham Municipal
Bank Regulations of 1925 which formulated the rules regarding each of these two departments in two separate sections, which were now
called:
the House Purchase Department.
The
history of the HOUSE PURCHASE DEPARTMENT, its methods of operation, and other related subjects are covered in the following sections
of this website:
The background to the Birmingham
Municipal Bank being given the authority to make loans for house purchase,
plus some aspects of the Department's
early history as reported in the Bank's Annual Reports
The Operation of the House Purchase Department
(This future article
will detail the day-to-day operation of the department located within Head Office that administered the BMB's lending function. The
department was initially named 'House Purchase', and then 'Mortgage Department', and finally 'Advances Department')
Mortgage advances and repayments analysed by Amount and Number
Historical record of interest rates charged to mortgagors
Description of the method used to calculate mortgage interest charges, prior to the computerisation of the calculations
Development of the House Purchase Department from 1919 to 1927
Details of the BMB's takeover of Solihull Council's house purchase loans
Copy of a booklet issued by the Bank in June 1950 regarding House Purchase
The recollections of Eric Bignell
Article by Norman Worwoood describing how the Bank dealt with mortgage
applications in the 1950s and 1960s
A short article written
by Bert Hopkins for a publication celebrating the Bank's Golden Jubilee in 1969
A comprehensive article written by Bert Hopkins in 1972, for the Journal of the Savings Banks Institute
Reports by the Bank's Management Committee regarding the House Purchase Department: 1922
to 1954
Three types of loan that were an alternative to the usual straight-forward
applications by owner-occupiers
Reproduction
of part of a leaflet, issued by a builder, that included praise for the Birmingham Municipal Bank
How the Trustee Savings Banks Act 1978 regularised the position of mortgage loans made by the Birmingham
Municipal TSB
Examples of passbooks used to record transactions
made on mortgage accounts
Names of the valuers appointed by the Bank's Management Committee/Board
of Trustees to provide valuations on properties
that the Bank was considering as security for a
proposed house purchase advance
Details of loans made by the Bank under
the Land Settlement (Facilities) Act, 1919