Criteria A-Z
As we manually underwrite our mortgages we're much more flexible with our criteria than most. Using our common sense approach (and our ears!) means we can cater for a wide spectrum of solutions for your clients, no matter their circumstances.
Browse criteria by A-Z below or search criteria by keyword to find what you need.
Our standard acceptability
89
Criteria definition:
Indicates the maximum age we can accept an applicant to be at the time of an application to be considered for a Buy to Let application.
Our policy notes:
The maximum age of each applicant should be no greater than 89 years old. Our maximum term at this age would be 5 years.
Last updated:
31 May 2018
Our standard acceptability
70
Criteria definition:
Indicates the maximum loan to value (LTV) a Buy to Let we can accept where the remortgage purpose is a simple balance swap (no additional monies being raised).
Our policy notes:
The Society will lend up to 70% LTV although we will use a reduced rental calculation for £ for £ remortgages
Last updated:
31 May 2018
Our standard acceptability
36
Criteria definition:
This is the required number of months we specify a client has to have had a UK address history for.
Our policy notes:
We require a three year UK address history.
Our outside policy allowances:
We can consider applications from UK expatriates abroad without a three year UK address history. Please refer to the acceptable list of countries expatriates can be resident in which is located on our website.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept Buy to Let applications from an advisor wishing to apply for his or her own mortgage.
Our policy notes:
Family Building Society can accept applications from advisors applying for their own mortgage.
Last updated:
07 November 2019
Our standard acceptability
94
Criteria definition:
Indicates the absolute maximum age we will lend to.
Our policy notes:
This is the maximum age based on an 89 year old applying for a mortgage. The actual term for other ages depends on the age at application and the term we have from our term calulator available on our website.
Last updated:
31 May 2018
Our standard acceptability
18
Criteria definition:
The minimum age we will accept when assessing an applicant.
Our policy notes:
The minimum age of each applicant must be 18.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we will consider a buy to let application for an applicant who is not on the electoral register
Our policy notes:
Family Building Society can consider an applicant who is not on electoral register
Last updated:
03 August 2022
Our standard acceptability
No
Criteria definition:
Indicates if we allow borrowers to add the arrangement fee (where one is payable) to the mortgage advance where this will mean the max lending policy loan to value will be exceeded.
Our policy notes:
Family Building Society does not allow fees to be added where it means the lending loan to value limits will be exceeded.
Last updated:
09 February 2024
Our standard acceptability
No
Criteria definition:
Indicates if we allow borrowers to add the arrangement fee (where one is payable) to the mortgage advance where this will mean the product loan to value will be exceeded.
Our policy notes:
Family Building Society does not allow fees to be added where it means the product loan to value limits will be exceeded.
Last updated:
09 February 2024
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept applicants that have an arrangement to pay registered on their credit file on Buy to Let applications.
Our policy notes:
Family Building Society will not consider applicants that have an arrangement to pay registered on their credit file.
Last updated:
07 November 2019
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept Buy to Let applications from applicants that have a history of mortgage or secured loan arrears.
Our policy notes:
Any existing mortgage or secured loan must be up to date at the time of application. A maximum of one month’s arrears within the last 12 months will be allowed, provided the account is currently up to date. An explanation of any arrears will be required.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we are able to potentially accept Buy to Let applications where one or more applicant(s) has a history of unsecured loan arrears.
Our policy notes:
Any existing mortgage/rent/loan must be up to date at the time of application. A maximum of one month’s arrears within the last 12 months will be allowed, provided the account is currently up to date. An explanation of any arrears will be required.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.
Back to Back (Remortgage - Bridging) indicates if we will accept applications where the customer has funded the purchase from a bridging loan and now wish to mortgage the property.
Our policy notes:
We normally expect properties to have been owned at least 6 months.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Back to back is typically where the vendor has owned the property for less than six months, or remortgages where they've owned the property for less than six months.
Back to back (Remortgage - Customer Funded) indicates if a we will accept applications where the customer has funded the purchase from their own funds and now wish to mortgage the property with a Buy to Let mortgage typically within 6 months of ownership. For example Josh recently purchased a property at auction and now wants to remortgage the property to release funds.
Our policy notes:
The property must be owned at least six months in this situation.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Back to back (Remortgage - Inherited) indicates if we can accept applications where the customer has inherited a property and now wish to mortgage it on a Buy to Let basis typically within 6 months of ownership.
Our policy notes:
We will consider remortgages where an inherited property has been owned for less than 6 months.
Last updated:
31 May 2018
Our standard acceptability
No
Criteria definition:
Indicates if we can potentially consider applicants earned income in addition to the rental income for a property when calculating the maximum mortgage that can be borrowed.
Our policy notes:
Family Building Society will not consider earned income in affordability assessment where the UK property is to be a Buy to let.
Last updated:
06 November 2018
Our standard acceptability
Yes
Criteria definition:
Indicates if we can potentially extend a clients mortgage offer beyond the standard expiry.
Our policy notes:
Documentation and the valuation may need to be updated if these items exceed six months old.
Last updated:
31 May 2018
Our standard acceptability
No
Criteria definition:
Indicates if we can potentially use the actual rent received from an existing tenant when it is higher than the valuer's estimate. For example, this situation could arise on remortgage applications where, in the valuer's opinion, the market rent is lower than what the landlord is currently receiving.
Our policy notes:
Family Building Society will not use the current rent received from the current tenant for affordability assessment when it exceeds the valuers estimate.
Last updated:
22 May 2018
Our standard acceptability
No
Criteria definition:
Indicates if we can potentially use the valuer's estimate when assessing loan affordability even if the actual rent being received is less than the estimate. For example, this situation could arise on remortgage applications where the existing tenant is paying below the market estimate (based on the valuer's rental valuation).
Our policy notes:
Family Building Society will use actual rent if lower than the valuers estimate
Last updated:
22 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept applicants that have had any CCJs registered more than 12 months ago and less than 24 months ago on Buy to Let applications. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.
Our policy notes:
Family Building Society will not consider applicants that have had CCJs registered more than 12 months ago and less than 24 months ago on Buy to Let applications.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept applicants that have had any CCJs registered more than 24 months ago and less than 36 months ago on Buy to Let applications. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.
Our policy notes:
Family Building Society will not consider applicants that have had CCJs registered more than 24 months ago and less than 36 months ago on Buy to Let applications.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept applicants that have had any CCJs registered more than 3 months ago and less than 12 months ago on Buy to Let applications. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.
Our policy notes:
Family Building Society will not consider applicants that have had CCJs registered more than 3 months ago and less than 12 months ago on Buy to Let applications.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept applicants that have had any CCJs registered in the past 3 months on Buy to Let applications.. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.
Our policy notes:
Family Building Society will not consider applicants that have had CCJs registered in the past 3 months on Buy to Let applications.
Last updated:
07 November 2019
Our standard acceptability
Not Ignored
Criteria definition:
Indicates if we can potentially ignore CCJs that were registered more than 36 months ago on Buy to Let applications. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.
Our policy notes:
Family Building Society will not ignore any CCJs that were registered over 36 months ago on Buy to Let applications.
Last updated:
07 November 2019
Our standard acceptability
ICR based
Criteria definition:
This relates to the potential rental calculation we will apply.
Our policy notes:
Normal BTL ICR requirements apply.
Last updated:
03 August 2023
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can lend when we consider the transaction to be a 'Consumer Buy to Let (CBTL)' and what our definition of a consumer buy to let is. A CBTL is often referred to as an accidental landlord.
Our policy notes:
Family Building Society can potentially accept applicants classed as a 'Consumer Buy to Let (CBTL)'
Last updated:
10 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept a situation whereby the purchaser is looking to buy a new build property from a third party (not the builder/developer). An example of this is whereby a third party has secured the property off plan and exchanged contracts but has not completed. They then sell the contract to a new purchaser. This is known as 'contract reassignment'. Sometimes this is for a premium of the original purchase price and sometimes it is without a premium.
Our policy notes:
These are not acceptable.
Last updated:
31 May 2018
Our standard acceptability
Yes
Criteria definition:
Indicates if we use Equifax as a credit reference agency when assessing applications.
Our policy notes:
We currently use Equifax for our credit search facility
Last updated:
31 May 2018
Our standard acceptability
No
Criteria definition:
Indicates if we use Experian as a credit reference agency when assessing Buy to Let applications.
Our policy notes:
We currently don't use Experian for our credit search facility.
Last updated:
31 May 2018
Our standard acceptability
no
Criteria definition:
Indicates if we use Transunion (formerly Callcredit) as a credit reference agency when assessing applications.
Our policy notes:
We currently don't use Callcredit for our credit search facility
Last updated:
31 January 2018
Our standard acceptability
No
Criteria definition:
Indicates if we use 'credit scoring' to assess a client(s) mortgage application usually at agreement in principle (AIP) stage.
Our policy notes:
We don't credit score applications. Applications are assessed individually based on their own merit by underwriters.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept applicants that have a criminal record.
Our policy notes:
Family Building Society can potentially accept applicants with criminal convictions.
Last updated:
15 January 2021
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept a Buy to Let application from an applicant who is currently in a debt management plan.
Our policy notes:
We do not accept applications where there is an existing and unsatisfied debt management plan.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept a Buy to Let application from an applicant who has previously had a debt management plan that is now satisfied.
Our policy notes:
We do not accept applications from applicants who have had a satisfied debt management plan.
Our outside policy allowances:
We could consider applicants who have had a satisfied debt management plan where this was satisfied at least three years ago. Please refer the application for further consideration.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept a Buy to Let application from a borrower who is currently in a payday loan credit agreement
Our policy notes:
We do not accept applications where any applicant has a payday loan.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept a Buy to Let application from a borrower who has had a payday loan in the past but is not currently in a payday loan credit agreement.
Our policy notes:
We do not accept applications from applicants who have taken a payday loan.
Last updated:
09 May 2022
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can consider an applicant with a satisfied debt relief order
Our policy notes:
Family Building Society can potentially consider an applicant with a satisfied debt relief order as long as it has been satisfied three years.
Last updated:
15 January 2021
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept applicants that have had any Defaults registered more than 12 months ago and less than 24 months ago on Buy to Let applications. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.
Our policy notes:
Family Building Society will not consider applicants that have had Defaults registered more than 12 months ago and less than 24 months ago on Buy to Let applications.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept applicants that have had any Defaults registered more than 24 months ago and less than 36 months ago on Buy to Let applications. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.
Our policy notes:
Family Building Society will not consider applicants that have had Defaults registered more than 24 months ago and less than 36 months ago on Buy to Let applications.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept applicants that have had any Defaults registered more than 3 months ago and less than 12 months ago on Buy to Let applications. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.
Our policy notes:
Family Building Society will not consider applicants that have had Defaults registered more than 3 months ago and less than 12 months ago on Buy to Let applications.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept applicants that have had any Defaults registered in the past 3 months on Buy to Let applications.. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.
Our policy notes:
Family Building Society will not consider applicants that have had Defaults registered in the past 3 months on Buy to Let applications.
Last updated:
07 November 2019
Our standard acceptability
Potentially Ignored
Criteria definition:
Indicates if we can potentially ignore Defaults that were registered more than 36 months ago on Buy to Let applications. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.
Our policy notes:
Family Building Society will ignore any satisfied Defaults that were registered over 36 months ago (and satisfied at least 24 months ago) on Buy to Let applications.
Last updated:
08 June 2021
Our standard acceptability
3
Criteria definition:
Displays if we can accept discharged bankrupts on Buy to Let applications and if so how long a client has to have been discharged for.
Our policy notes:
We can consider discharged bankrupts as long as they have been discharged at least three years, have no subsequent adverse registered credit and can provide a satisfactory explanation. Please refer these for consideration prior to an application being submitted.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially offer Buy to Let mortgages on properties that have an EPC rating of 'F' or 'G'
Our policy notes:
Family Building Society will not offer Buy to Let mortgages on properties that have an EPC rating of 'F or 'G'.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially lend on Buy to Let applications for leasehold properties that have an escalating ground rent clause.
Our policy notes:
Family Building Society will not lend on leasehold properties where an escalating ground rent clause exists.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially lend on Buy to Let applications for freehold properties where 'Estate Rent Charge' clauses exist.
Our policy notes:
Family Building Society will not lend on freehold properties where exists any estate charge obligations against the purchaser.
Last updated:
07 November 2019
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider buy to let applications from EU Nationals with a ‘pre-settled status’ under the EU Settlement Scheme
Our policy notes:
Family Building Society can potentially lend to EU Nationals with a ‘pre-settled status’ under the EU Settlement Scheme
Last updated:
02 August 2021
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider buy to let applications from EU Nationals with a ‘settled status’ under the EU Settlement Scheme
Our policy notes:
Family Building Society can potentially lend to EU Nationals with a ‘settled status’ under the EU Settlement Scheme
Last updated:
02 August 2021
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can consider lending on an ex MOD property on a buy to let application.
Our policy notes:
Family Building Society can potentially consider an application on an ex MOD property
Last updated:
15 January 2021
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider Buy to Let applications from expats.
Our policy notes:
We can accept applications from expatriates from a restricted list of countries, as follows:
Plus China, India, Monaco, & Oman will be subject to the additional requirements below:
Last updated:
22 November 2023
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can accept deposits that have originated outside of the European Economic Area (EEA) as an acceptable source of deposit for Expat Buy to Let applications.
Our policy notes:
Family Building Society will not consider expat applications where the source of deposit does not originate from the UK.
Last updated:
07 November 2019
Our standard acceptability
No Minimum
Criteria definition:
Indicates if we have a minimum income requirement when assessing expat applications and if so what is it
Our policy notes:
Family Building Society has no minimum income.
Last updated:
06 November 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can consider expat buy to let applications where the intention is to Let to a family member
Our policy notes:
Family Building Society does not accept Buy to Let mortgages from Expat applicants where the property will be Let to Family Member(s)
Last updated:
31 January 2018
Our standard acceptability
No
Criteria definition:
Indicates if we require expats to have a UK credit profile
Our policy notes:
Family Building Society does not require 'Expat' applicants to have a UK credit profile
Last updated:
11 December 2019
Our standard acceptability
We do not accept Expat Buy to Let applications
Criteria definition:
Indicates if we can potentially consider applications from expat borrowers that wish to Let the property on a Holiday Let basis.
Our policy notes:
Family Building Society will not consider 'Holiday Lets' on an expat Buy to Let basis.
Last updated:
19 March 2021
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept Buy to Let applications from an applicant who is financially associated with someone who has adverse credit.
Our policy notes:
Family Building Society will not accept applicants that are financially associated with persons that have adverse credit.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider applications from First Time Buyers.
Our policy notes:
Family Building Society does not accept Buy to Let applications from 'First Time Buyers'
Last updated:
22 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider applications from First Time Landlords.
Our policy notes:
Family Building Society can potentially accept Buy to Let applications from 'First Time Landlords'.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates the maximum potential loan to value (LTV) we can accept where the property type is a NEW BUILD flat or NEW BUILD maisonette.
Our policy notes:
We do not accept new build flats/maisonettes.
Last updated:
31 May 2018
Our standard acceptability
70
Criteria definition:
Indicates the maximum potential loan to value (LTV) we can accept where the property type is a flat or maisonette and it is NOT considered a new build.
Our policy notes:
The maximum LTV the Society will lend on any BTL is 70%
Last updated:
31 May 2018
Our standard acceptability
20
Criteria definition:
Indicates the maximum percentage of gross floor area the flying freehold part covers that can be considered by us
Our policy notes:
Family Building Society accepts flying freehold up to a maximum gross floor area of 20%
Last updated:
11 September 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider applications from foreign nationals living overseas who wish to obtain a BUY TO LET mortgage here in the UK. For example, a Chinese applicant who does not live or work in the UK who wants to purchase property here in the UK on a Buy to Let basis as an investment.
Our policy notes:
Family Building Society will not consider Buy to Let applications for foreign nationals (living overseas)
Last updated:
07 November 2019
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we are potentially able to accept applications from foreign nationals that have indefinite leave to remain.
Our policy notes:
We do accept applications from foreign nationals with a permanent right to reside.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we are potentially able to accept applications from foreign nationals that DO NOT have indefinite leave to remain.
Our policy notes:
We would not be prepared to accept applications from non-EU nationals without a permanent right to reside.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially lend to what we consider to be professional landlords. Typically a professional landlord is an applicant whose main income source is from their rental income from property.
Our policy notes:
Family Building Society can potentially accept applications from 'Full Time Landlords'.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider applicants with recurrent gambling transactions on BTL applications
Our policy notes:
Family Building Society will not consider applicants that have recurring gambling transactions
Last updated:
11 September 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept a Green Mortgage buy to let application.
Our policy notes:
Family Building Society is unable to consider a Green Mortgage buy to let application
Last updated:
02 August 2021
Our standard acceptability
Acceptable
Criteria definition:
Indicates if a we will consider applications on a Guaranteed Rent Scheme
Our policy notes:
Family Building Society can consider applications where a Guaranteed Rental Scheme will be set up
Last updated:
16 September 2020
Our standard acceptability
3
Criteria definition:
Indicates if we can potentially accept Buy to Let applications from an applicant that is on the CIFAS register and if so, what time must have passed in order for them to be potentially accepted by the lender for a new mortgage application.
Our policy notes:
Family Building Society can potentially accept customers that are registered on the CIFAS register. We require the applicant's registration date to be at least 3 Years ago.
Last updated:
07 November 2019
Our standard acceptability
does not offer HMO BTL
Criteria definition:
This relates to the potential rental calculation we will apply.
Our policy notes:
Family Building Society does not accept Buy to Let applications
Last updated:
03 August 2023
Our standard acceptability
We do not accept HMO applications
Criteria definition:
Indicates if we can consider a Buy to Let application on an HMO property from a first time landlord.
Our policy notes:
Family Building Society does not lend on 'Houses of Multiple Occupation (HMO)'.
Last updated:
31 May 2018
Our standard acceptability
We do not accept HMO applications
Criteria definition:
Indicates the maximum LTV we can consider for Buy to Let applications on HMO properties
Our policy notes:
Family Building Society does not lend on 'Houses of Multiple Occupation (HMO)'.
Last updated:
31 May 2018
Our standard acceptability
We do not accept HMO applications
Criteria definition:
Indicates if we have a maximum number of bedrooms allowed on HMO properties and if so how many
Our policy notes:
Family Building Society does not lend on 'Houses of Multiple Occupation (HMO)'.
Last updated:
31 January 2018
Our standard acceptability
We do not accept HMO applications
Criteria definition:
Indicates the maximum number of kitchens permitted by us in an HMO property
Our policy notes:
Family Building Society does not lend on 'Houses of Multiple Occupation (HMO)'.
Last updated:
31 May 2018
Our standard acceptability
We do not accept HMO applications
Criteria definition:
Indicates the maximum number of storeys permitted on HMO properties.
Our policy notes:
Family Building Society does not lend on 'Houses of Multiple Occupation (HMO)'.
Last updated:
31 January 2018
Our standard acceptability
We do not accept HMO applications
Criteria definition:
Indicates if we require applicants to have a minimum HMO experience and if so how much (IN MONTHS)
Our policy notes:
Family Building Society does not lend on 'Houses of Multiple Occupation (HMO)'.
Last updated:
31 May 2018
Our standard acceptability
We do not accept HMO applications
Criteria definition:
Indicates if we have a minimum square metreage requirement on a double bedroom and if so what it is.
Our policy notes:
Family Building Society does not lend on 'Houses of Multiple Occupation (HMO)'.
Last updated:
31 May 2018
Our standard acceptability
We do not accept HMO applications
Criteria definition:
Indicates if we specify a minimum property value for HMO properties and if so what it is.
Our policy notes:
Family Building Society does not lend on 'Houses of Multiple Occupation (HMO)'.
Last updated:
31 January 2018
Our standard acceptability
We do not accept HMO applications
Criteria definition:
Indicates if we have a minimum square metreage requirement on a single bedroom and if so what it is.
Our policy notes:
Family Building Society does not lend on 'Houses of Multiple Occupation (HMO)'.
Last updated:
31 May 2018
Our standard acceptability
We do not accept HMO applications
Criteria definition:
Indicates if we can potentially use the HMO rental valuation as opposed to standard AST valuation for HMO applications
Our policy notes:
We will not consider an HMO application
Last updated:
03 September 2020
Our standard acceptability
We do not accept HMO applications
Criteria definition:
Indicates if we can potentially accept Buy to Let applications on Houses of Multiple Occupation (HMOs) that are 'unlicensed'
Our policy notes:
Family Building Society does not lend on 'Houses of Multiple Occupation (HMO)'.
Last updated:
31 January 2018
Our standard acceptability
We do not accept HMO applications
Criteria definition:
Indicates if we can potentially consider an HMO application without a communal area in the property
Our policy notes:
Family Building Society does not lend on 'Houses of Multiple Occupation (HMO)'.
Last updated:
14 May 2021
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider applications from borrowers that wish to Let the property on a Holiday Let basis.
Our policy notes:
Family Building Society will not consider 'Holiday Lets' on a Buy to Let basis.
Last updated:
22 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept Buy to Let applications on Houses of Multiple Occupation (HMOs)
Our policy notes:
Family Building Society does not lend on 'Houses of Multiple Occupation (HMO)'.
Last updated:
31 January 2018
Our standard acceptability
70
Criteria definition:
Indicates the maximum potential loan to value (LTV) we can accept where the property type is a NEW BUILD house/bungalow.
Our policy notes:
The maximum LTV the Society will lend up to on any BTL is 70%
Last updated:
31 May 2018
Our standard acceptability
70
Criteria definition:
Indicates the maximum potential loan to value (LTV) we can accept where the property type is a house or bungalow and it is NOT considered a new build.
Our policy notes:
The maximum LTV the Society will lend is 70%
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept income where it is primarily made up of benefits. An example of this would be where benefit income exceeds earned income or represents more than 50% of total income.
Our policy notes:
Family Building Society will not accept applicants income that is made up primarily of benefits.
Last updated:
15 January 2021
Our standard acceptability
3
Criteria definition:
Displays if we accept Buy to Let applications from borrowers who have had an IVA and if so how many years it must have been satisfied for. An IVA is satisfied when the payment plan has been completed.
IMPORTANT NOTE: An IVA usually stays on the credit file for 6 years from the date it was REGISTERED not from the date it was satisfied which typically occurs 5 years after the date the IVA was entered into (the registered date). This is important because some lenders will specify how long it must have been satisfied for and others will use how long ago it was registered.
This criteria displays how long ago it must have been satisfied so you should read the policy notes carefully to check if the lenders specifies how long ago it must have been registered.
Our policy notes:
We will accept applications from applicants who have had satisfied IVAs for more than three years and with a satisfactory explanation for the circumstances leading up to the IVA.
Last updated:
31 May 2018
Our standard acceptability
6
Criteria definition:
Displays if we accept Buy to Let applications from borrowers who have had an IVA and if so how many years ago it must have been registered. An IVA is registered when a payment plan is agreed with the creditors.
IMPORTANT NOTE: An IVA usually stays on the credit file for 6 years from the date it was REGISTERED not from the date it was satisfied which typically occurs 5 years after the date the IVA was entered into (the registered date). This is important because some lenders will specify how long it must have been satisfied for and others will use how long ago it was registered.
This criteria displays how long ago it must have been registered so you must read the policy notes carefully to check if the lender specifies how long ago it must have been satisfied as well.
Our policy notes:
We will look at satisfied IVAs only three years from when they are satisfied.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Specifies if we are able to potentially consider a Buy to Let application from an applicant who has previously had an Individual Voluntary Arrangement (IVA) registered against them.
IMPORTANT NOTE: An IVA usually stays on the credit file for 6 years from the date it was REGISTERED not from the date it was satisfied which typically occurs 5 years after the date the IVA was entered into (the registered date). This is important because some lenders will specify how long it must have been satisfied for and others will use how long ago it was registered.
This criteria displays if a person who has had an IVA can be considered on a general level but you should read the policy notes and related criteria carefully to dig deeper with regard your clients specific situation.
Our policy notes:
We will accept applications from applicants who have had satisfied IVAs for more than three years and with a satisfactory explanation for the circumstances leading up to the IVA.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can consider an inter-family buy to let application with no discount being offered
Our policy notes:
Family Building Society can potentially consider a buy to let application from an inter-family sale with no discount being offered
Last updated:
15 January 2021
Our standard acceptability
Acceptable
Criteria definition:
Specifies if we are able to potentially accept applications where there is evidence of Japanese knotweed at the property or near the property.
Our policy notes:
Please refer these for assessment on a case by case basis. Japanese Knotweed is an invasive plant species and can cause damage to properties if left untreated. Where a valuation report identifies that Japanese Knotweed is present a program of eradication may be required before the Society can lend
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we will accept applications from joint borrowers where only ONE applicant will OWN the property.
Our policy notes:
We can accept applications where one applicant only is to be an owner and another applicant is also to be on the mortgage. Each application needs to be referred for consideration prior to submission.
Last updated:
29 November 2019
Our standard acceptability
Acceptable
Criteria definition:
Indicates if a we can potentially consider buy to let applications from applicants who have a history of late payments (NOT REGISTERED AS MISSED) on any credit agreements they hold.
Our policy notes:
Family Building Society can potentially accept applicants with previous 'Late Payments'.
Last updated:
15 January 2021
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we will consider a Limited Company Buy to Let application from a layered Ltd Company
Our policy notes:
Family Building Society will not consider applications from a layered Ltd Company
Last updated:
11 September 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially lend on Buy to Let applications for leasehold properties where no separate management company exists.
Our policy notes:
Family Building Society will not lend on leasehold properties where no separate management company exists.
Last updated:
07 November 2019
Our standard acceptability
No Maximum
Criteria definition:
Indicates if we have a maximum exposure limit a borrower can have with us or within our group.
Our policy notes:
The Society has no maximum.
Last updated:
31 May 2018
Our standard acceptability
3
Criteria definition:
Indicates if we have a maximum number of mortgages a borrower can have with us or within our group.
Our policy notes:
We will normally limit a borrower to no more than three BTL mortgages with the Society.
Our outside policy allowances:
Once the Society has experience of a borrower we may permit them to have more than three BTLs with the Society
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially offer a remortgage and use the uplifted value of the property following recent works of improvement. For example, Jon purchases a property for £150,000 and spend a couple of months doing the place up following which the property is now worth £250,000. Jon now wants to find a lender who will allow him to raise capital based on the newly enhanced value.
Our policy notes:
Family Building Society will not use the uplifted value in this situation.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider Buy to Let lending on properties located in the Channel Islands.
Our policy notes:
We cannot accept applications for mortgages in Guernsey.
Last updated:
29 November 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider Buy to Let lending on properties located in England.
Our policy notes:
We do lend in England
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider lending on properties located on the Isle of Man.
Our policy notes:
Family Building Society does not lend on properties on the Isle of Man.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider lending on properties located on the Isle of Wight
Our policy notes:
We do lend on the Isle of Wight.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider lending on properties located in Northern Ireland.
Our policy notes:
Family Building Society does not lend on properties in Northern Ireland.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider lending on properties located in the Scilly Isles.
Our policy notes:
Family Building Society does not lend on properties in the Scilly Isles.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider lending on properties located in Scotland.
Our policy notes:
Family Building Society does not lend on properties in Scotland.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider lending on properties located in Wales.
Our policy notes:
We do lend in Wales.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept applications to remortgage onto a buy to let basis when the current mortgage is residential.
Our policy notes:
We can accept applications for a remortgage onto a buy to let basis subject to our normal BTL criteria.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we will allow an applicant to remortgage their current residential property onto a Buy to Let mortgage and then move in with family as opposed to purchasing a new main residence.
Our policy notes:
Family Building Society is unable to consider a Buy to Let remortgage application where the property is currently the applicant's main residence but will now be let and the applicant will be moving in with family
Last updated:
03 August 2022
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we will allow an applicant to remortgage their current residential property onto a Buy to Let mortgage and then move into rented accomodation as opposed to purchasing a new main residence.
Our policy notes:
Family Building Society will not consider Buy to Let remortgage applications where the property is currently the applicants main residence but will now be Let and the applicant will be moving into separate rented accomodation
Last updated:
07 November 2019
Our standard acceptability
Directors & Shareholders
Criteria definition:
Indicates if we consider both 'Directors AND Shareholders' as applicants or 'Directors' only when assessing applications from Special Purpose Vehicle Ltd Companies.
Our policy notes:
Family Building Society considers both 'Directors AND Shareholders' as applicants when assessing applications from SPV Limited Companies.
Last updated:
19 July 2019
Our standard acceptability
4
Criteria definition:
Indicates the maximum number of applicants we can consider when lending to Special Purpose Vehicle Limited Companies.
Our policy notes:
Family Building Society can consider Buy to Let applications from SPVs with a maximum number of applicants of four.
Last updated:
31 May 2018
Our standard acceptability
No Minimum
Criteria definition:
Indicates if there is a minimum trading period for 'Special Purpose Vehicle Limited Companies' and if so how long IN MONTHS this is.
Our policy notes:
The Society will only lend to newly created limited company SPVs.
Last updated:
22 May 2018
Our standard acceptability
No
Criteria definition:
Indicates if we require shareholders in a 'Special Purpose Vehicle' Limited Company to provide personal guarantees as well as the 'Directors'.
Our policy notes:
Family Building Society does NOT require shareholders that are not directors to provide personal guarantees on SPV Ltd Company applications in addition to the Directors of the company.
Last updated:
28 January 2022
Our standard acceptability
Does not lend to Trading Ltd Companies
Criteria definition:
Indicates if we consider both 'Directors AND Shareholders' as applicants or 'Directors' only when assessing applications from Trading Ltd Companies.
Our policy notes:
Family Building Society does not accept Ltd Company Buy to Let applications
Last updated:
22 May 2018
Our standard acceptability
Does not lend to Trading Ltd Companies
Criteria definition:
Indicates the maximum number of applicants we can consider when lending to Trading Limited Companies
Our policy notes:
The Society does not lend to trading limited companies.
Last updated:
22 May 2018
Our standard acceptability
No Minimum
Criteria definition:
Indicates if there is a minimum trading period for 'Trading Limited Companies' and if so how long IN MONTHS this is.
Our policy notes:
There is no minimum trading period for the SPV. However, the SPV must be a distinct company with its own assets and liabilities, as well as its own legal status and created for the specific objective of the holding of BTL property.
Last updated:
22 March 2021
Our standard acceptability
Does not lend to Trading Ltd Companies
Criteria definition:
Indicates if we require shareholders in a 'Trading' Limited Company to provide personal guarantees as well as the 'Directors'.
Our policy notes:
Family Building Society does not lend to trading limited companies.
Last updated:
08 November 2021
Our standard acceptability
Accepted
Criteria definition:
Indicates if we can potentially accept Buy to Let applications from Limited Companies
Our policy notes:
Family Building Society can consider Ltd Company Buy to Let applications
Last updated:
22 May 2018
Our standard acceptability
Accepted
Criteria definition:
Indicates if we can potentially accept Buy to Let applications from Limited Companies where the Ltd company is set up as a 'Special Purpose Vehicle (SPV)'.
Our policy notes:
Family Building Society can potentially accept Buy to Let applications from Ltd Companies set up as a Special Purpose Vehicle (SPV).
The SPV must be a distinct company with its own assets and liabilities, as well as its own legal status and created for the specific objective of the holding of BTL property.
Last updated:
22 March 2021
Our standard acceptability
Not Accepted
Criteria definition:
Indicates if we can potentially accept Buy to Let applications from Trading Limited Companies. Trading Limited Companies are companies that are not set up exclusively for the purpose of buying property for example a trading ltd company that sells furniture as its primary function.
Our policy notes:
Family Building Society does NOT accept Buy to Let applications from TRADING Ltd Companies.
Last updated:
22 May 2018
Our standard acceptability
84
Criteria definition:
Indicates the maximum age an applicant can be at application.
Our policy notes:
Family Building Society can consider Buy to Let applications from Ltd Companies where the applicant is aged 84 or under at point of application.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we consider a Limited Company Buy to Let application where the source of deposit is from applicants other company
Our policy notes:
Family Building Society will not consider a Limited Company Buy to Let application where the source of deposit is from applicants other company.
Last updated:
16 September 2020
Our standard acceptability
We do not lend to Portfolio Landlords
Criteria definition:
Indicates if we specify a maximum LTV of all properties owned by the applicants that are mortgaged to them or their group.
Our policy notes:
The Society doesn't usually lend on portfolios.
Last updated:
31 May 2018
Our standard acceptability
No Maximum
Criteria definition:
Indicates the maximum potential debt to income (DTI) ratio we might accept for Buy to Let applications. For example, an applicant has outstanding unsecured debts of £26,000 and a salary of £40,000. Therefore their DTI is 65%.
Our policy notes:
The Society does not have a maximum debt to income ratio.
Last updated:
07 November 2019
Our standard acceptability
Fixed Amount (Not percentage based)
Criteria definition:
Indicates if we have a maximum threshold, and if so what it is, that the ground rent on a leasehold property cannot exceed measured against the property value on Buy to Let applications. For example, Applicant 'A' is purchasing a leasehold flat valued at £100,000 that has a ground rent payable annually of £100. This ground rent equates to 0.1% of the property value. Lender 'A' has no maximum threshold on ground rents and therefor Applicant 'A' is able to proceed with a mortgage application on this property.
Our policy notes:
Family Building Society will not consider properties where the ground rent exceeds £250 outside Greater London or £1,000 inside Greater London.
Last updated:
02 September 2021
Our standard acceptability
12
Criteria definition:
Indicates the maximum number of months we specify is required on an Assured Shorthold Tenancy (AST)
Our policy notes:
The Society will normally expect ASTs to be for no more than 12 months.
Our outside policy allowances:
Potentially the Society could accept up to three years although ASTs above 12 months should be referred for agreement prior to submission of an application.
Last updated:
31 May 2018
Our standard acceptability
0
Criteria definition:
Indicates the maximum potential loan size we can consider lending at 80% loan to value or less. Be aware that this relates to the maximum and other factors may reduce this maximum such as property type etc.
Our policy notes:
The Society won't lend above 70% LTV on buy to lets
Last updated:
31 January 2018
Our standard acceptability
70
Criteria definition:
Indicates the maximum LTV we can consider for Buy to Let applications
Our policy notes:
The Society will lend up to 70% LTV.
Last updated:
31 May 2018
Our standard acceptability
No Maximum
Criteria definition:
Indicates if we specify a maximum LTV of all properties owned by the applicants across their entire portfolio. This includes mortgages held with the lender and group and all other mortgages held with other lenders.
Our policy notes:
The Society has no maximum LTV across the rest of the portfolio. Only a maximum LTV that applies to the properties being brought to FBS which will vary. Please refer any enquiries.
Last updated:
03 August 2023
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept Buy to Let applications from an applicant who has mortgage arrears in the past 2 years and if so what is the maximum number of missed payments in the past 2 years that can be accepted.
Our policy notes:
Family Building Society will not consider applicants with any mortgage arrears in the previous 24 months.
Last updated:
07 November 2019
Our standard acceptability
4
Criteria definition:
The maximum number of applicants able to go on a Buy to Let mortgage application.
Our policy notes:
We can consider applications for up to four applicants.
Last updated:
31 May 2018
Our standard acceptability
1
Criteria definition:
Indicates if we can consider Buy to Let applications from applicants with previously satisfied CCJs and if so what the maximum allowable number registered against an applicant is. For example, applicant 'A' has 3 previously satisfied CCJs in the past 6 years and Lender 'A' says the maximum number they will allow is 2 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total value and other adverse credit.
Our policy notes:
Family Building Society can consider applicants with up to one satisfied CCJ.
Last updated:
07 November 2019
Our standard acceptability
0
Criteria definition:
Indicates if we can consider Buy to Let applications from applicants with unsatisfied CCJs and if so what the maximum allowable number registered against an applicant is. For example, applicant 'A' has 3 previously unsatisfied CCJs in the past 6 years and Lender 'A' says the maximum number they will allow is 2 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total value and other adverse credit.
Our policy notes:
Family Building Society will not consider applicants with unsatisfied CCJs.
Last updated:
29 September 2023
Our standard acceptability
1
Criteria definition:
Indicates if we can consider Buy to Let applications from applicants with previously satisfied Defaults and if so what the maximum allowable number registered against an applicant is. For example, applicant 'A' has 3 previously satisfied Defaults in the past 6 years and Lender 'A' says the maximum number they will allow is 2 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total value and other adverse credit.
Our policy notes:
Family Building Society can consider applicants with up to 1 satisfied Defaults relating to a utility or communications supplier.
Last updated:
22 November 2019
Our standard acceptability
0
Criteria definition:
Indicates if we can consider Buy to Let applications from applicants with unsatisfied Defaults and if so what the maximum allowable number registered against an applicant is. For example, applicant 'A' has 3 previously unsatisfied Defaults in the past 6 years and Lender 'A' says the maximum number they will allow is 2 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total value and other adverse credit.
Our policy notes:
Family Building Society will not consider applicants with unsatisfied Defaults.
Last updated:
23 March 2023
Our standard acceptability
No Maximum
Criteria definition:
Indicates if there is a maximum number of mortgaged Buy to Let properties and if so how many, an applicant can have in the background.
Our policy notes:
Family Building Society has no maximum limit to the number of Buy to Let mortgages applicants hold with other lenders.
Last updated:
29 November 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates the maximum number of stories we can consider when lending on ex local authority high rise flats.
Our policy notes:
We do not lend on ex-local authority flats/maisonettes.
Last updated:
31 May 2018
Our standard acceptability
4
Criteria definition:
Indicates the maximum number of storeys we can consider when lending on high rise flats.
Our policy notes:
The maximum number of floors we can consider is four stories although we can consider flats in block with more stories but these must be referred to the Society individually prior to application submission.
Our outside policy allowances:
We can consider lending on properties above four stories but these need to be referred.
Last updated:
06 November 2018
Our standard acceptability
We do not accept student tenants
Criteria definition:
Indicates the maximum number of students we can consider on a single AST
Our policy notes:
Family Building Society does not accept students Lets
Last updated:
16 September 2020
Our standard acceptability
4
Criteria definition:
Indicates the maximum number of tenants permitted by us on a single Assured Shorthold Tenancy
Our policy notes:
Family Building Society can consider applications where there are no more than four tenants on the Assured Shorthold Tenancy (AST).
Last updated:
31 May 2018
Our standard acceptability
40
Criteria definition:
Indicates the maximum term a Buy to Let mortgage can be taken over.
Our policy notes:
Our maximum term is 40 years. However, the actual maximum term is linked to the oldest applicant's age. Please refer to our website for more information.
Last updated:
03 May 2022
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept Buy to Let applications from an applicant who has unsecured arrears in the past 2 years and if so what is the maximum number of missed payments in the past 2 years that can be accepted.
Our policy notes:
Family Building Society will not consider applicants with any unsecured arrears in the previous 24 months.
Last updated:
07 November 2019
Our standard acceptability
500
Criteria definition:
Indicates if we can potentially consider Buy to Let applications from applicants with previously satisfied CCJs and if so what the maximum allowable value of all registered against an applicant is. For example, applicant 'A' has 3 previously satisfied CCJs in the past 6 years totaling £1,230 and Lender 'A' says the maximum value they will allow is £500 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total number registered and other adverse credit registered against the applicant.
Our policy notes:
Family Building Society can consider applicants with satisfied CCJs up to a maximum value of £500.
Last updated:
07 November 2019
Our standard acceptability
0
Criteria definition:
Indicates if we can consider Buy to Let applications from applicants with unsatisfied CCJs and if so what the maximum allowable value of all registered against an applicant is. For example, applicant 'A' has 3 unsatisfied CCJs in the past 6 years totaling £1,230 and Lender 'A' says the maximum value they will allow is £500 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total number registered and other adverse credit registered against the applicant.
Our policy notes:
Family Building Society will not consider applicants with unsatisfied CCJs.
Last updated:
07 November 2019
Our standard acceptability
500
Criteria definition:
Indicates if we can potentially consider Buy to Let applications from applicants with previously satisfied Defaults and if so what the maximum allowable value of all registered against an applicant is. For example, applicant 'A' has 3 previously satisfied Defaults in the past 6 years totaling £1,230 and Lender 'A' says the maximum value they will allow is £500 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total number registered and other adverse credit registered against the applicant.
Our policy notes:
Family Building Society can consider applicants with satisfied Defaults up to a maximum value of £500 relating to utilities or communications suppliers.
Last updated:
22 November 2019
Our standard acceptability
0
Criteria definition:
Indicates if we can potentially consider Buy to Let applications from applicants with unsatisfied Defaults and if so what the maximum allowable value of all registered against an applicant is. For example, applicant 'A' has 3 unsatisfied Defaults in the past 6 years totaling £1,230 and Lender 'A' says the maximum value they will allow is £500 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total number registered and other adverse credit registered against the applicant.
Our policy notes:
Family Building Society will not consider applicants with unsatisfied Defaults.
Last updated:
23 March 2023
Our standard acceptability
No Minimum
Criteria definition:
Indicates if we have a minimum income requirement for Buy to Let applications and if so what it is.
Our policy notes:
Family Building Society has no minimum income requirement.
Last updated:
14 December 2018
Our standard acceptability
No Minimum
Criteria definition:
Indicates if we require a minimum amount of experience (IN MONTHS) when lending on Buy to Let applications
Our policy notes:
Family Building Society has no minimum experience requirement for applicants.
Last updated:
07 November 2019
Our standard acceptability
No Minimum
Criteria definition:
Specifies if there is a minimum number of months (if so how many) employed applicants must have been continuously employed on Buy to Let applications.
Our policy notes:
Family Building Society has no minimum length of time applicants need to have been in continuous employment.
Last updated:
07 November 2019
Our standard acceptability
No Minimum
Criteria definition:
Indicates the minimum number of months we specify is required on an Assured Shorthold Tenancy (AST)
Our policy notes:
The Society has no minimum period an assured shorthold tenancy agreement has to be set up for.
Last updated:
31 May 2018
Our standard acceptability
45000
Criteria definition:
Indicates the minimum loan size (if there is one) that we accept for new applications.
Our policy notes:
Our minimum loan is £45,000
Last updated:
31 May 2018
Our standard acceptability
We do not lend on Ex Local Authority Flats
Criteria definition:
Indicates if we can potentially lend on a ex-local authority flat/apartments and if so is there a minimum percentage in the block that must be privately owned when assessing Buy to Let applications.
Our policy notes:
We do not lend on ex-local authority flats.
Last updated:
07 November 2019
Our standard acceptability
120000
Criteria definition:
Indicates if we have a minimum property value they require for new Buy to Let applications.
Our policy notes:
Our minimum property value is £120,000.
Last updated:
31 May 2018
Our standard acceptability
55
Criteria definition:
Indicates the minimum required lease remaining at date of application we can potentially accept.
Our policy notes:
The Society requires 50 years unexpired at the end of the mortgage term. The minimum term is 5 years.
Last updated:
31 May 2018
Our standard acceptability
50
Criteria definition:
Indicates the minimum required lease remaining at the end of the mortgage term we can potentially accept.
Our policy notes:
The Society requires an unexpired lease term of 50 years at the end of the mortgage term.
Last updated:
31 January 2018
Our standard acceptability
5
Criteria definition:
Indicates the minimum term a Buy to Let mortgage can be taken over.
Our policy notes:
Our minimum term is 5 years.
Last updated:
31 May 2018
Our standard acceptability
No Mortgage Arrears Accepted
Criteria definition:
Indicates if we can potentially ignore mortgage arrears that are historic and if so at what point they can potentially be ignored when assessing Buy to Let mortgage applications.
Our policy notes:
Family Building Society will not consider applicants with any mortgage arrears on their credit file.
Last updated:
07 November 2019
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially lend on single title multi-unit properties
Our policy notes:
Family Building Society can potentially lend on 'Multi Unit Freehold' properties.
Last updated:
09 July 2021
Our standard acceptability
3
Criteria definition:
Indicates the maximum number of units permitted on a single title multi unit property
Our policy notes:
Family Building Society does lend on 'Multi Unit Freehold' properties.
Last updated:
09 July 2021
Our standard acceptability
No Minimum
Criteria definition:
Indicates if there is a minimum square meterage requirement on a single title multi unit property
Our policy notes:
Family Building Society does lend on 'Multi Unit Freehold' properties.
Last updated:
09 July 2021
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if AEDIS is an acceptable new build warranty for us on new build properties.
Our policy notes:
This is not acceptable.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if Build Assure is an acceptable new build warranty for us on new build properties.
Our policy notes:
This is acceptable.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if Building Life Plans is an acceptable new build warranty for us on new build properties.
Our policy notes:
This is acceptable.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if Buildzone is an acceptable new build warranty for us on new build properties.
Our policy notes:
This is acceptable.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if Checkmate (Castle 10) is an acceptable new build warranty for us on new build properties.
Our policy notes:
This is acceptable. Where outbuildings, such as a detached garage, are included in the construction, an endorsement to include these in the cover is required.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if CRL Management Ltd is an acceptable new build warranty for us on new build properties.
Our policy notes:
This is acceptable.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if Global Home Warranties is an acceptable new build warranty for us on new build properties.
Our policy notes:
This is not acceptable.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept ICW as an acceptable new build warranty
Our policy notes:
Family Building Society does not accept ICW as an acceptable new build warranty
Last updated:
16 September 2020
Our standard acceptability
Acceptable
Criteria definition:
Indicates if LABC is an acceptable new build warranty for us on new build properties.
Our policy notes:
This is acceptable.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if NHBC Guarantee is an acceptable new build warranty for us on new build properties.
Our policy notes:
We will accept NHBC guarantees.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if Premier Guarantee Scheme is an acceptable new build warranty for us on new build properties.
Our policy notes:
This is acceptable.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if Professional Consultants Certificate is an acceptable new build warranty for us on new build properties.
Our policy notes:
This is not acceptable.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if Protek is an acceptable new build warranty for us on new build properties.
Our policy notes:
This is not acceptable.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if Q Assure Build is an acceptable new build warranty for us on new build properties.
Our policy notes:
This is not acceptable.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if Zurich Municipal "New Build" is an acceptable new build warranty for us on new build properties.
Our policy notes:
This is acceptable.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept an applicant that is a non-owner occupier for a Buy to Let application.
This is not to be confused with a First Time Buyer or First Time Landlord.
Our policy notes:
Family Building Society does not accept Buy to Let applications from 'Non Owner Occupiers'.
Last updated:
31 May 2018
Our standard acceptability
1
Criteria definition:
Indicates the number of credit reference agencies we may use during the entire application process.
Our policy notes:
The Society uses Equifax for credit searches.
Last updated:
02 September 2021
Our standard acceptability
150
Criteria definition:
Displays the number of days a NEW BUILD Buy to Let mortgage offer is valid for.
Our policy notes:
Our offers are valid, as a standard, for five months for discounted products and to a specific date for fixed rates (see our product guide).
Last updated:
31 May 2018
Our standard acceptability
150
Criteria definition:
Displays the number of days a STANDARD Buy to Let mortgage offer is valid for.
Our policy notes:
Our offers are valid for five months, as a standard, for discounted products or to a specific date (see our product guide) for fixed rates.
Last updated:
31 May 2018
Our standard acceptability
Yes (subject to product availability)
Criteria definition:
Indicates if we can offer Buy to Let offset mortgages (subject to product availability).
Our policy notes:
Family Building Society offers offset mortgages subject to product availability.
Last updated:
12 February 2020
Our standard acceptability
10
Criteria definition:
Indicates the amount you can usually overpay (subject to product availability) without penalty on our Buy to Let mortgages.
Our policy notes:
Borrowers can overpay up to 10% without penalty.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially lend on a property where the adjoining property is also owned by one of the applicants.
Our policy notes:
Family Building Society does not lend on properties where the applicant also owns the adjoining property.
Last updated:
21 August 2019
Our standard acceptability
We do not accept Holiday Let applications
Criteria definition:
Indicates if we can potentially consider applications from borrowers that wish to Let the property on a Holiday Let basis and occupy the property themselves from time to time. For example whilst the property is predominantly Let on a Holiday Let a few weeks a year the applicant would like to stay in the property.
Our policy notes:
Family Building Society does not lend on properties that are intended to be Let as a 'Holiday Let'
Last updated:
22 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept Buy to Let applications from an applicant that is considered a politically exposed person.
Our policy notes:
Family Building Society will not consider an applicant that is classed as a politically exposed person.
Last updated:
07 November 2019
Our standard acceptability
Yes
Criteria definition:
Indicates if our Buy to Let mortgages are portable as standard.
Our policy notes:
Our products are portable.
Last updated:
31 May 2018
Our standard acceptability
No Minimum
Criteria definition:
Indicates if we specifiy a minimum income an applicant must earn in order to be considered for a Buy to Let mortgage where the applicant is considered a portfolio landlord.
Our policy notes:
The Society does not have a minimum income for Buy to Let.
Last updated:
30 April 2019
Our standard acceptability
No Minimum
Criteria definition:
Indicates if we require a minimum amount of experience (IN MONTHS) if lending to what we consider to be a portfolio landlord.
Our policy notes:
The Society does not insist on a minimum period of experience.
Last updated:
31 May 2018
Our standard acceptability
Accepted
Criteria definition:
Indicates if we can accept 'Portfolio' landlords and IMPORTANTLY how they define a portfolio landlord.
Our policy notes:
Family Building Society specifies a 'Portfolio Landlord' as 4 or more completed qualifying rental properties that are mortgaged. The number of qualifying properties that constitutes a 'Portfolio Landlord' is All applicants combined Buy To Let properties. A qualifying property:
- Includes Privately owned Buy to Let rental properties
- Includes Company owned Buy to Let rental properties where the applicant has a shareholding of more than 0 %
- Includes Consent to Let properties
- Includes Holiday Lets
Last updated:
31 May 2018
Our standard acceptability
Yes
Criteria definition:
Indicates if we will allow post-offer changes
Our policy notes:
Family Building Society can potentially allow post offer changes
Last updated:
03 August 2023
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept Buy to Let applications from an applicant that is acting with Power of Attorney.
Our policy notes:
Family Building Society will not consider an applicant from someone acting as a power of attorney.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider applications where the applicant's tenant will be paying their rent as an advance payment.
Our policy notes:
Family Building Society does not accept 'Premium Lease Agreements' where a prospective tenant is paying their rent as an advanced payment.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can accept Buy to Let applications from applicants that have previously been repossessed and if so how many years need to have passed to be acceptable.
Our policy notes:
Unfortunately, we are unable to lend to any borrower who has been previously repossessed.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially lend on a property where there is evidence of asbestos present.
Our policy notes:
Family Building Society does NOT lend on properties where Asbestos is identified.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider an application where the property will be purchased at auction
Our policy notes:
Family Building Society can consider an Buy to Let application where the property will be purchased at auction
Last updated:
16 September 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we are able to potentially accept 100% timber construction properties - this is NOT the same as timber framed.
Our policy notes:
These are not acceptable.
Last updated:
31 May 2018
Our standard acceptability
No
Criteria definition:
Indicates if BOPAS accreditation is required for non-standard construction where the non-standard construction type is acceptable to us
Our policy notes:
Family Building Society does not require BOPAS accreditation for non-standard construction where the construction type is acceptable to us
Last updated:
16 September 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider properties where the construction type is British Iron and Steel Federation (BISF)
Our policy notes:
Family Building Society will not lend on properties where the construction type is British Iron and Steel Federation (BISF)
Last updated:
16 September 2020
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we are able to potentially accept concrete construction properties.
Our policy notes:
Prefabricated or large panel concrete construction (LPS) are not acceptable. Pre-fabricated reinforced concrete construction (PRC) May be considered if the property has been repaired by PRC Homes with a brick external skin and has the benefit of a 60 year guarantee, and the Valuer confirms property is readily saleable. NB. If the property is either semi-detached or terraced, all properties in the row must have been repaired. Concrete block construction designated Mundic are not acceptable.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider an application on a converted church
Our policy notes:
Family Building Society can potentially consider an application on a converted church
Last updated:
16 September 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider properties where the construction type is Cornish
Our policy notes:
Family Building Society does not lend on cornish construction properties.
Last updated:
03 August 2022
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider Dutch Barn properties
Our policy notes:
Family Building Society can potentially lend on a Dutch Barn property
Last updated:
16 September 2020
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we are able to potentially accept Easiform construction properties.
Our policy notes:
Laing Easi-Form construction (providing in good condition) is acceptable.
Last updated:
31 May 2018
Our standard acceptability
Yes
Criteria definition:
Indicates if we require an EWS1 certificate for properties with combustible cladding or materials on balconies
Our policy notes:
Family Building Society will not lend on properties with combustible cladding or materials on balconies without a EWS1 form
Last updated:
09 July 2021
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept properties where there exists a flying freehold.
Our policy notes:
Flying freeholds are acceptable providing they don't exceed more than 20% of the floor area and the valuer confirming that the presence of the flying freehold will not adversely affect saleability, and the Solicitor confirming that the Title Deeds contain adequate rights of shelter and support plus arrangements for maintenance and repair.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider properties where the construction type is Insulating concrete form (ICF)
Our policy notes:
Family Building Society will not lend on properties where the construction type is Insulating concrete form (ICF)
Last updated:
16 September 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider properties where the construction type is Large Panel System (LPS)
Our policy notes:
Family Building Society will not lend on properties where the construction type is Large Panel System (LPS)
Last updated:
15 January 2021
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially able to accept Buy to Let applications on properties that have majority flat roof. We classify 'majority' as anything over 50%.
Our policy notes:
These are not acceptable.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept applications on properties where the construction type is Modern method of construction (MMC).
Our policy notes:
Not normally accepted but considered on a case by case basis. These need to be referred to an underwriter to be assessed on a case by case basis.
Our outside policy allowances:
Please refer cases of good loan to value for consideration as an exception.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept applications on properties where the construction type is Mundic block.
Our policy notes:
Our general stance is we won't lend on properties where the construction, or part of the construction, is from Mundic block.
Our outside policy allowances:
Please refer for individual consideration with the address of the property and any existing reports that may assist the underwriter in making a decision.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept applications on properties where the construction type is No-Fines.
Our policy notes:
Wimpey No Fines construction (providing in good condition) is acceptable.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept NON repaired prefabricated reinforced concrete as suitable security for lending purposes.
Our policy notes:
These are not acceptable.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider properties where the construction type is Off site manufactured (MMC)
Our policy notes:
Family Building Society will not lend on properties where the construction type is Off site manufactured (MMC)
Last updated:
16 September 2020
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider Potton Home properties
Our policy notes:
Family Building Society can potentially lend on a Potton Home property
Last updated:
16 September 2020
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept repaired prefabricated reinforced concrete as suitable security for lending purposes.
Our policy notes:
Pre-fabricated reinforced concrete construction (PRC) May be considered if the property has been repaired by PRC Homes with a brick external skin and has the benefit of a 60 year guarantee, and the Valuer confirms property is readily saleable. NB. If the property is either semi-detached or terraced, all properties in the row must have been repaired.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider single skin properties
Our policy notes:
Family Building Society can potentially lend on single skin property subject to valuer's comments.
Last updated:
09 July 2021
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept steel framed properties as suitable lending security.
Our policy notes:
These are not acceptable.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider properties where the construction type is Structural Insulated Panel Solutions (SIPs)
Our policy notes:
Family Building Society will not lend on properties where the construction type is Structural Insulated Panel Solutions (SIPs)
Last updated:
16 September 2020
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept properties that have any element of a thatched roof.
Our policy notes:
These are acceptable.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept timber framed properties.
Our policy notes:
Timber frame dwellings that are listed as Tudor buildings or those built after 1965 are acceptable.
Last updated:
30 March 2022
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially lend on a property that is of Timber-Framed construction built between 1900 to 1970 for Buy to Let applications.
Our policy notes:
Family Building Society will not lend on properties that are a timber frame construction dating between 1900 to 1970.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially lend on a property that is of Timber-Framed construction built after 1970 for Buy to Let applications.
Our policy notes:
Family Building Society will not lend on properties that are a timber frame construction dated post 1970.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially lend on a property that is of Timber-Framed construction built prior to 1900 for Buy to Let applications.
Our policy notes:
Family Building Society will not lend on properties that are a timber frame construction dating pre 1900.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider lending on a property in a tower block with cladding
Our policy notes:
Family Building Society will not lend on a tower block of flats that have cladding
Last updated:
16 September 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider wholly timbered property
Our policy notes:
Family Building Society will not lend on a wholly timbered property
Last updated:
11 September 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider a woolaway property
Our policy notes:
Family Building Society will not lend on a woolaway property
Our outside policy allowances:
These are declared defective under the Defective Housing Act and the Society can only consider those that have been adapted and have a PRC certificate.
Last updated:
16 September 2020
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept applications from property developers
Our policy notes:
Family Building Society can potentially accept Buy to Let applications from individuals they deem property developers.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider properties where there is spray foam insulation
Our policy notes:
Family Building Society is unable to lend on properties with spray foam insulation
Last updated:
03 August 2022
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially lend on a property that is close to a mine shaft for Buy to Let applications.
Our policy notes:
Family Building Society can potentially consider lending on properties that are close to a mine shaft.
Last updated:
12 February 2020
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially lend on a property where it borders Class A1 commercial premises. Class A1 businesses are shops and retail.
Our policy notes:
The Society can usually lend on properties bordering Class A1 commercial premises although these should be referred to ensure they are accpetable.
Last updated:
02 September 2021
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially lend on a property where it borders Class A2 commercial premises. Class A2 businesses are professional services.
Our policy notes:
The Society can usually lend on properties bordering Class A2 commercial premises.
Last updated:
02 September 2021
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially lend on a property where it borders Class A3 commercial premises. Class A3 businesses are for food and drink.
Our policy notes:
The Society will usually not lend on properties bordering Class A3 commercial premises.
Last updated:
02 September 2021
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially lend on a property where it borders Class A4 commercial premises. Class A4 businesses are drinking establishments.
Our policy notes:
The Society will usually not lend on properties bordering Class A4 commercial premises.
Last updated:
02 September 2021
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially lend on properties that have overhead power lines running above them.
Our policy notes:
The Society will not lend on properties with powerlines overhead.
Last updated:
17 August 2023
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider Buy to Let applications where refurbishment is required
Our policy notes:
Family Building Society will not consider a Buy to Let application where the property requires refurbishment before it can be Let.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially lend on properties that have been underpinned in the last 10 years on Buy to Let applications
Our policy notes:
Family Building Society will not lend on properties that have been underpinned in the last 10 years
Last updated:
07 November 2019
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider a property with an Overage Clause
Our policy notes:
Family Building Society can potentially consider a property with an Overage Clause for loans up to 50% LTV
Last updated:
28 January 2021
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially lend on Buy to Let applications for properties that only have possessory title.
Our policy notes:
Family Building Society will not lend on properties that are subject to a possessory title.
Last updated:
07 November 2019
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider a property with shared access or shared services
Our policy notes:
Family Building Society can potentially consider a property with shared access or shared services
Last updated:
16 September 2020
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider an application where the splitting of a title deed will take place on completion
Our policy notes:
Family Building Society can potentially consider an application where the splitting of a title deed will take place on completion
Last updated:
16 September 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially lend on Buy to Let applications on properties where the joint ownership is set up on a tenants in common basis where each owner has an unequal share. For example, Applicant 'A' owns 70% of the property and Applicant 'B' owns 30%.
Our policy notes:
Family Building Society will not consider joint applications where the property ownership will be as tenancy in common with unequal shares.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially lend on Buy to Let applications for properties that are owned by a trust.
Our policy notes:
Family Building Society will not lend on properties that are owned by a trust.
Last updated:
07 November 2019
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially lend on a basement flat
Our policy notes:
Family Building Society can potentially lend on a basement flat
Last updated:
16 September 2020
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider a coach house property
Our policy notes:
Family Building Society can potentially lend on coach houses
Last updated:
16 September 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially able to lend on ex local authority flats/maisonettes.
Our policy notes:
We would not lend on this property type.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially lend on ex local authority houses/bungalows.
Our policy notes:
These are acceptable.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept flats above a commercial food outlet.
Our policy notes:
We would not accept this sort of property.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept flats that are above commercial offices.
Our policy notes:
Prestige locations only. Properties should have separate title and access. Valuer to confirm the property is readily saleable.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept flats that are above a pub.
Our policy notes:
We would not consider this type of property.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept a flat or maisonette where the tenure is freehold.
Our policy notes:
Freehold flats/maisonettes are not acceptable.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider lending on property classified as a Grade 1 listed building. Categories of listed buildings in England & Wales: Grade I: buildings of exceptional interest. Grade II*: particularly important buildings of more than special interest. Grade II: buildings that are of special interest, warranting every effort to preserve them.
Our policy notes:
The Society is unable to lend on Grade 1 listed properties.
Last updated:
16 August 2023
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider lending on property classified as a Grade 2 Listed Building. Categories of listed buildings in England & Wales: Grade I: buildings of exceptional interest. Grade II*: particularly important buildings of more than special interest. Grade II: buildings that are of special interest, warranting every effort to preserve them.
Our policy notes:
The Society will lend on Grade II listed properties.
Last updated:
17 August 2023
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially lend on studio flats.
Our policy notes:
Studio flats are not normally acceptable.
Last updated:
31 May 2018
Our standard acceptability
We do not lend on studio flats
Criteria definition:
Indicates the area in square metres required when lending on studio flats for Buy to Let lending.
Our policy notes:
Family Building Society does not lend on studio flats.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept properties that have agricultural restrictions.
Our policy notes:
The Society will not usually lend on properties with agricultural restrictions.
Last updated:
03 August 2022
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept properties that have a significant amount of land (properties that have acreage).
Our policy notes:
These are not acceptable unless the land is separated from the main house' title. Valuations are assessed on the house and immediate gardens.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we are able to potentially accept buy to let applications from applicants who are looking to purchase a property that has an age restriction. For example, Mr Jones is looking to purchase a retirement apartment that can only be occupied by people who are at least 55 years of age.
Our policy notes:
The Society will not lend on properties with any form of occupancy restriction.
Last updated:
16 August 2023
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept properties that have deck access.
Our policy notes:
We do not accept this property type.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept an application where the security property has more than one kitchen. This is not the same as a property split into two or more units or a House of Multiple Occupation (HMO).
Our policy notes:
Properties with more than one kitchen are not normally acceptable.
Our outside policy allowances:
Consideration can be given where a property has a 'granny' annexe. These must be referred prior to submission on an application. Please provide the property address and any sales particulars (where applicable) for an underwriter to give consideration.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept Buy to Let applications on properties that are subject to a Section 106 restrictive covenant.
Our policy notes:
Family Building Society does not lend on properties that have a section 106 restrictive covenant.
Last updated:
31 January 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider a Buy to Let application where the applicant will purchase a new build property and rent back to the builders as a show home
Our policy notes:
Family Building Society will not consider a Buy to Let application where the applicant will purchase a new build property and rent back to the builders as a show home
Last updated:
16 September 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept situations where the property being purchased on a Buy to Let basis has an existing tenant who wishes to remain in the property and therefore vacant possession on completion would not exist.
Our policy notes:
Family Building Society does not accept situations on purchase applications where there is a tenant in situ at the property where it is the intention to allow them to remain as the ongoing tenant.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept an application where a Limited Company wishes to purchase a property from one of its directors or shareholders. This is typically referred to as a 'Related Transaction'.
Our policy notes:
Family Building Society can potentially consider applications where the Ltd Company is purchasing the property on a related transaction basis.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept an application where the purchaser is looking to purchase a property from a limited company for which he/she is a shareholder.
Our policy notes:
Family Building Society can potentially accept these types of transaction where the individual is looking to purchase a property from a Ltd Company that they are a director or shareholder of.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider Buy to Let applications where the intention is to Let the property to a family member.
Our policy notes:
Family Building Society does not accept 'Regulated Buy to Let' applications
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we will allow capital raising on an applicant's current shared ownership residential property for the purpose of staircasing to 100% and take their ownership to 100% and then Letting the property.
Our policy notes:
Family Building Society will not consider remortgage applications with capital raising to staircase their Shared Ownership property and then Let the property on a Buy to Let basis with us.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider a Buy to Let application when the reason for capital raising is considered for 'Business Related Purposes'.
Our policy notes:
Family Building Society will not consider remortgage applications with capital raising for business purposes.
Last updated:
07 November 2019
Our standard acceptability
70
Criteria definition:
Indicates the maximum loan to value (LTV) we can accept where the BTL remortgage purpose is to raise funds to buy out a partner or other borrower.
Our policy notes:
The Society will accept applications at normal LTVs to buy out a co-owner.
Last updated:
03 August 2022
Our standard acceptability
70
Criteria definition:
Indicates the maximum loan to value (LTV) we will accept when the reason for capital raising is to raise funds to fund or part fund a buy to let purchase.
Our policy notes:
The maximum LTV the Society will lend up to is 70%
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider remortgage applications with capital raising for a BTL property where the property has not yet been found. Essentially they want to put themselves in the position of a cash buyer with the funds accessible ready for when they find their property.
Our policy notes:
Family Building Society can consider remortgage applications with capital raising for a BTL property where a property is not yet found
Last updated:
16 September 2020
Our standard acceptability
70
Criteria definition:
Indicates the maximum loan to value (LTV) we will accept where there is an element of debt consolidation on a remortgage application.
Our policy notes:
The Society will lend up to 70% LTV.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider capital raising on a remortgage where the purpose of the funds is extending a lease
Our policy notes:
Family Building Society can potentially consider capital raising on a remortgage where the purpose of the funds is extending a lease
Last updated:
16 September 2020
Our standard acceptability
70
Criteria definition:
Indicates if we are able, and if so to what loan to value, accept BTL remortgages where the purpose is to raise money to make a gift (for example to children to help with school fees etc or where parent(s) might want to help their children buy their first home).
Our policy notes:
We will permit capital raising to gift funds to a close family member to assist with a property purchase to 80%. We will require a certificate of understanding to be signed after the offer and before completion.
Last updated:
03 August 2022
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider a remortgage application where an existing HMO will be converted back to a standard residence
Our policy notes:
Family Building Society will not consider a remortgage application where an existing HMO property will be converted to a standard residence
Last updated:
16 September 2020
Our standard acceptability
70
Criteria definition:
Indicates if we are able to and if so to what loan to value, accept remortgages where the purpose is to raise money for property improvements.
Our policy notes:
The Society will lend a maximum of 70% LTV
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we will allow capital raising for the purpose of home improvements on a property which is NOT the security property on Buy to Let applications.
Our policy notes:
Family Building Society will not consider remortgage applications with capital raising for home improvements on another property owned by the applicant.
Last updated:
07 November 2019
Our standard acceptability
65
Criteria definition:
Indicates if we will allow capital raising for the purpose to purchase land and if so up to what loan to value for Buy to Let applications.
Our policy notes:
Family Building Society can consider remortgage applications with capital raising for 'Land Purchase' up to a maximum LTV of 65% (our current maximum LTV for all BTLs).
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider capital raising on a remortgage where the purpose of the funds is lifestyle (holidays, car's, non essential spending etc)
Our policy notes:
Family Building Society will not consider capital raising on a remortgage where the purpose of the funds is lifestyle (holidays, car's, non essential spending etc)
Last updated:
16 September 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider capital raising on a remortgage where the purpose of the funds is medical expenses
Our policy notes:
Family Building Society will not consider capital raising on a remortgage where the purpose of the funds is medical expenses
Last updated:
11 September 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider capital raising on a remortgage where the purpose of the funds is personal investments
Our policy notes:
Family Building Society will not consider capital raising on a remortgage where the purpose of the funds is personal investments
Last updated:
16 September 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we will allow capital raising for the purpose of purchasing commercial property on Buy to Let applications.
Our policy notes:
Family Building Society will not consider remortgage applications with capital raising to purchase a commercial property.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we will allow capital raising for the purpose of purchasing overseas property on Buy to Let applications.
Our policy notes:
Family Building Society will not consider remortgage applications with capital raising to purchase a property overseas.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we will allow capital raising on an applicant's current residential property that has a Help to Buy Equity Loan present for the purpose of repaying (IN FULL) their Help to Buy Equity Loan, take their ownership to 100% and then Let the property.
Our policy notes:
Family Building Society will not consider remortgage applications with capital raising to repay their Help to Buy equity loan and then Let the property on a Buy to Let basis with us.
Last updated:
07 November 2019
Our standard acceptability
70
Criteria definition:
Indicates the maximum loan to value (LTV) we can accept where the BTL remortgage purpose is to repay the customer's residential mortgage.
Our policy notes:
Family Building Society has a maximum LTV of 70% when remortgaging with capital raising to repay their residential mortgage
Last updated:
03 August 2022
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider capital raising on a remortgage where the purpose of the funds is education or school fees
Our policy notes:
Family Building Society can potentially consider capital raising on a remortgage where the purpose of the funds is education or school fees
Last updated:
16 September 2020
Our standard acceptability
6
Criteria definition:
Indicates the number of months we state a person must have owned a property before it can be considered for a remortgage application.
Our policy notes:
We will consider remortgages after 6 month's ownership.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we accept mortgages on a Repayment basis (Capital & Interest) for Buy to Let applications.
Our policy notes:
Family Building Society can potentially offer Buy to Let mortgages on a 'Repayment (Capital & Interest)' basis.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially offer a Buy to Let mortgage on a property that has a 'Restricted Sale Price' clause.
Our policy notes:
Family Building Society will not consider applications on properties that have a restricted sale price clause.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially lend on properties that have been issued with a retrospective new build warranty. These warranties were specifically not in place during the build phase but taken out at a later date following completion.
Our policy notes:
Family Building Society will not consider retrospective new build warranties.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept Buy to Let applications from an applicant who is returning to the UK and going straight into paid employment. Critically, indicates if a lender will accept an employed applicant (with no current minimum length of time in UK employment) who is returning from a non UK address to the UK.
Our policy notes:
Family Building Society will not accept applications from applicants who are returning to the UK and going straight into employment.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept Buy to Let applications from an applicant who is returning to the UK and going straight into Self-Employment. Critically, indicates if a lender will accept a Self-Employed applicant who is returning from a non UK address to the UK and would essentially have zero UK trading history.
Our policy notes:
Family Building Society will not accept applications from applicants who are returning to the UK and going straight into self-employment.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept a sale and rent back transaction where the vendor sells the property (usually at a discount), remains in the property and pays a rent to the new owner.
Our policy notes:
Family Building Society does not accept 'Sale and Rent Back' transactions.
Last updated:
31 January 2018
Our standard acceptability
Not Available
Criteria definition:
Indicates if we can offer Sharia compliant Buy to Let mortgages.
Our policy notes:
Family Building Society does not offer Sharia compliant mortgages.
Last updated:
16 August 2023
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept a Buy to Let application where there will be a simultaneous completion of a second charge.
Our policy notes:
Family Building Society will not consider applications where there will be a simultaneous completion of a second charge.
Last updated:
07 November 2019
Our standard acceptability
No (Full Footprint)
Criteria definition:
Indicates if we will leave a 'soft footprint' when performing a credit search (as opposed to leaving a full/hard footprint on the credit file).
Our policy notes:
We use Equifax and we leave a hard footprint.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept properties that have had solar panels installed.
Our policy notes:
These are acceptable subject to no onerous terms being contained in the lease agreement if the panels are leased.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider applications on a sole application joint proprietor basis. This is where a property will be jointly owned but only one person will be named on the mortgage and is distinctly different to the more common Joint Application Sole Proprietor where only one party would own the property but there are two named on the mortgage.
Our policy notes:
Family Building Society will not consider applications on a sole application joint proprietor basis
Last updated:
11 September 2020
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we accept builder gifted deposits as an acceptable source of deposit for new build properties
Our policy notes:
A builder’s deposit is acceptable providing the Borrowers are providing a deposit from their own resources of at least 20%. The Valuer will be required to confirm that the valuation is not affected, and the Solicitor should confirm that the purchase price in the legal documentation matches that on the Society’s Mortgage Offer. Lending will be based on the lower of purchase price or valuation.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can accept applications that are considered a concessionary purchase
Our policy notes:
We can lend up to 100% of the discounted purchase price or 80% of the value whichever is lower. An indemnity to protect the Society might be required.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can accept a gift from an immediate family member as an acceptable source of deposit.
Our policy notes:
We will accept deposits being gifted.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can accept a gift as a deposit source outside of immediate family members such as a friend, employer or cousin for example.
Our policy notes:
These are not acceptable.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can accept a loan from an immediate family member as an acceptable source of deposit on a buy to let application.
Our policy notes:
Family Building Society is unable to accept deposits where the source is a loan from immediate family
Last updated:
03 August 2022
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can accept monies raised from the mortgage of an additional property as an acceptable source of deposit.
Our policy notes:
This is acceptable.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if can potentially accept deposits that have originated outside of the European Economic Area (EEA) as an acceptable source of deposit.
Our policy notes:
We do not accept funds from sources deposited outside of the EU.
Our outside policy allowances:
If the country the funds are deposited in are FATF compliant the case should be referred for further consideration.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates whether or not we will accept a redundancy payment as an acceptable source of deposit on a BTL application.
Our policy notes:
Family Building Society can potentially accept a redundancy payment as an acceptable source of deposit
Last updated:
03 August 2022
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates whether or not we will accept borrowers source of deposit as a loan. For example a person is looking to put down a total 25% deposit and borrow a 75% mortgage. 5% of the total deposit is a bank loan.
Our policy notes:
We do not accept deposits that have been borrowed.
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider an application with a split term. For example, an applicant wishes to take one part of their mortgage over 25 years and another part over 10 years.
Our policy notes:
Family Building Society can offer mortgages with split term durations
Last updated:
16 September 2020
Our standard acceptability
ICR based
Criteria definition:
This relates to the potential rental calculation we will apply.
Our policy notes:
Please refer to the Society's website
Last updated:
03 August 2023
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially use the student Let rental valuation as opposed to the open market valuation to a typical tenant (family, couples, etc)
Our policy notes:
Family Building Society will not use the student Let rental valuation for affordability as opposed to the open market rental valuation.
Last updated:
07 November 2019
Our standard acceptability
No
Criteria definition:
Indicates if we can potentially ignore telecommunications adverse credit on Buy to Let applications.
Our policy notes:
Family Building Society will not ignore telecommunications adverse.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider applications from borrowers that wish to Let the property to an Asylum Seeker.
Our policy notes:
Family Building Society will not consider applications where the property will be let to an Asylum seeker
Last updated:
07 November 2019
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we an potentially consider applications from borrowers that wish to Let the property on a Corporate Let or Company Let
Our policy notes:
Family Building Society will consider properties that are to be Let on a Corporate/Company Let basis.
Last updated:
21 August 2024
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider applications from borrowers that wish to Let the property to DSS/Housing Benefit tenants
Our policy notes:
Family Building Society can potentially accept DSS/Housing benefit tenants.
Last updated:
06 November 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider applications from borrowers that wish to Let the property to Housing Association tenants.
Our policy notes:
Family Building Society does not accept Housing Association tenants.
Last updated:
22 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider applications from borrowers that wish to Let the entire property via services such as AirBnB and similar.
Our policy notes:
Family Building Society does not lend on properties that are intended to be Let as a 'Holiday Let'
Last updated:
31 January 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider applications from borrowers that wish to have multiple tenancies on a Buy to Let property.
Our policy notes:
Family Building Society will not consider a Buy to Let application with multiple tenancies
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider applications from borrowers that wish to Let the property to a tenant who is benefiting from a protected tenancy.
Our policy notes:
Family Building Society will not consider applications where the tenant enjoys a 'Protected Tenancy'.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept Buy to Let applications on properties that are considered 'Serviced Properties'. These are typically furnished properties that are Let on a short term basis and the rent covers all amenities including the rent.
Our policy notes:
Family Building Society will not consider applications where the property will be Let as a 'Serviced Property'.
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider applications from borrowers that wish to Let the property to students
Our policy notes:
Family Building Society does not allow applicants to Let their Buy to Let property to Students.
Last updated:
22 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider Buy to Let applications where the tenant will be (or is) a third party who pays a rent to the applicant and acts as the primary tenant but Sub-Lets the property. This is sometimes referred to as 'Rent to Rent'.
Our policy notes:
Family Building Society will not consider applications where the property will be Let to a third party who will in turn Sublet the property.
Last updated:
07 November 2019
Our standard acceptability
No
Criteria definition:
Indicates if we can potentially offer Buy to Let mortgages on a transitional arrangement as defined by the FCA under MCOB 11.8
Our policy notes:
Family Building Society does not offer Buy to Let mortgages on a transitional arrangement basis.
Last updated:
07 November 2019
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially consider a property with unadopted roads
Our policy notes:
Family Building Society can potentially consider a property with unadopted roads
Last updated:
16 September 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we are able to potentially accept Buy to Let applications from applicants who have recently been charged for an unauthorised overdraft (either by exceeding their overdraft limit or by simply going overdrawn if they do not have an agreed overdraft limit). These unauthorised overdraft charges will likely appear on the clients recent bank statements.
Our policy notes:
Family Building Society does not accept applicants that have recently had unauthorized overdraft charges
Last updated:
31 May 2018
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept applications where the transaction constitutes an undervalue transaction.
Our policy notes:
We accept purchases at an undervalue providing it is not a 'distressed sale'. We will ask the solicitors to provide the appropriate indemnity as part of the conveyancing.
Last updated:
31 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider Buy to Let applications for unemployed applicants.
Our policy notes:
Family Building Society will not consider Buy to Let applications for unemployed applicants
Last updated:
07 November 2019
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially consider applicants who hold a Family Visa. Types of Family Visas are spouse or partner, fiancé, fiancée or proposed civil partner, child, parent or relative who’ll provide long-term care for you.
Our policy notes:
Family Building Society will not consider applicants that hold a family visa.
Last updated:
15 January 2021
Our standard acceptability
We do not lend to foreign nationals on a visa
Criteria definition:
Indicates if we can consider an applicant on a visa and if so what is the minimum requirement (in MONTHS) that the applicant must have remaining on BTL applications
Our policy notes:
Family Building Society will not consider an applicant on a visa
Last updated:
16 September 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept a buy to let application from an applicant that holds a Working Tier 1 Visa. These visas can be issued to Entrepreneurs, Exceptional Talents, Graduate Entrepreneurs, and Investors.
Our policy notes:
Family Building Society will not consider applicants that hold a 'Tier 1' working visa.
Last updated:
15 January 2021
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept a buy to let application from an applicant that holds a Working Tier 2 Visa. These visas can be issued to General workers who've been offered a skilled position in the UK, Intra-company Transfers, Ministers of Religion and Sportspersons.
Our policy notes:
Family Building Society will not consider applicants that hold a 'Tier 2' working visa.
Last updated:
15 January 2021
Affordability Calculator
Find out how much your residential client may be able to borrow. To see affordability for a Buy to Let client, use our Buy to Let calculator
Find Your Local
Business Development Manager
Your Local BDM:
Sam Morrison
Your Local BDM:
Neil Cadwallader
Your Local BDM:
Stuart Heavens
Your Local BDM:
Amar Mashru
Your Local BDM:
Arif Kara
Your Local BDM:
Nathan Waller
Your Local BDM:
Grace Bennett
Your Local BDM:
Darren Deacon
Your Local BDM:
Paul Roberts
We do not currently have a BDM covering your area. Please contact our Mortgage Helpdesk:
- 01372 744155
- 01372 745607
- mortgage.desk@familybsoc.co.uk
Opening hours: Monday - Friday: 9am - 5.30pm. Saturday: Closed
We may record any telephone calls we have with you in the interest of staff training, monitoring customer service or for security purposes.