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.

Take a look at what we have to offer
Buy to Let Criteria
Can Consider Earned Income in Rental Assessment (Topslicing)

Our standard acceptability

No

Criteria definition:

Indicates if a lender 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

Can extend mortgage offer

Our standard acceptability

Yes

Criteria definition:

Indicates if a Buy to Let lender 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

Can use actual existing rent when higher than valuers estimate

Our standard acceptability

No

Criteria definition:

Indicates if a lender can potentially use the actual rent received from an existing tenant when it is higher than the valuers estimate. For example this situation could arrise on remortgage applications where, in the valuers 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

Can use valuers rental estimate even if higher than actual existing rent

Our standard acceptability

No

Criteria definition:

Indicates if a lender can potentially use the valuers estimate when assessing loan affordability even if the actual rent being received is less than the estimate. For example this situation could arrise on remortgage applications where the existing tenant is paying below the market estimate (based on the valuers rental valuation).

Our policy notes:

Family Building Society will use actual rent if lower than the valuers estimate

Last updated:

22 May 2018

CCJs registered between 12 to 24 Months

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

CCJs registered between 24 to 36 Months

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

CCJs registered between 3 to 12 Months

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

CCJs registered in last 3 Months

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

CCJs registered over 36 Months ago

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

Consumer Buy to Let (position and definition)

Our standard acceptability

Acceptable

Criteria definition:

Indicates if a lender lends when they consider the transaction to be a 'Consumer Buy to Let (CBTL)' and what their 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

Contract Reassignment

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if a Buy to Let lender is potentially able to accept the 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

County Court Judgements (CCJs) (Satisfied) potentially accepted

Our standard acceptability

Acceptable

Criteria definition:

Indicates if a lender can potentially accept Buy to Let applications from applicants that have had/or have satisfied CCJs registered against their name. 

Our policy notes:

One County Court Judgement (CCJ), with a total value less than £500, within the last three years subject to being satisfied and a satisfactory explanation provided.

Last updated:

31 May 2018

County Court Judgements (CCJs) (Unsatisfied) potentially accepted

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if a lender can potentially accept Buy to Let applications from applicants that have had/or have unsatisfied CCJs registered against their name. 

Our policy notes:

We will not accept applications where CCJs exist that have not been satisfied.

Last updated:

31 May 2018

Covid-19: Are you offering a payment holiday?

Our standard acceptability

Contact Lender

Criteria definition:

Displays if we will allow BTL borrowers to take a payment holiday due to payment difficulties related to the Covid-19 outbreak.

Our policy notes:

If the situation surrounding coronavirus is affecting your ability to pay your mortgage, please contact us to discuss the options available to you. You can send an email to: mortgage.service@familybsoc.co.uk or call our mortgage team on 03330 140146. We promise to respond as soon as we are able to. We are here to help. https://familybuildingsociety.co.uk/

Last updated:

19 March 2020

Covid-19: Fees waived for missed mortgage payments (not agreed payment holidays) due to Covid-19 difficulties

Our standard acceptability

Contact Lender

Criteria definition:

Displays if we will consider waiving fees for late BTL mortgage payments that were due to payment difficulties related to the Covid-19 outbreak.

Our policy notes:

If the situation surrounding coronavirus is affecting your ability to pay your mortgage, please contact us to discuss the options available to you. You can send an email to: mortgage.service@familybsoc.co.uk or call our mortgage team on 03330 140146. We promise to respond as soon as we are able to. We are here to help. https://familybuildingsociety.co.uk/

Last updated:

19 March 2020

Covid-19: Policy

Our standard acceptability

Yes

Criteria definition:

Displays if we have a Covid-19 policy for BTL lending and if so the details of it.

Our policy notes:

If the situation surrounding coronavirus is affecting your ability to pay your mortgage, please contact us to discuss the options available to you. You can send an email to: mortgage.service@familybsoc.co.uk or call our mortgage team on 03330 140146. We promise to respond as soon as we are able to. We are here to help. https://familybuildingsociety.co.uk/

Last updated:

19 March 2020

Covid-19: Will allow conversion to interest only?

Our standard acceptability

Contact Lender

Criteria definition:

Displays if we will allow BTL borrowers to convert their mortgage from repayment to interest-only due to payment difficulties related to the Covid-19 outbreak.

Our policy notes:

If the situation surrounding coronavirus is affecting your ability to pay your mortgage, please contact us to discuss the options available to you. You can send an email to: mortgage.service@familybsoc.co.uk or call our mortgage team on 03330 140146. We promise to respond as soon as we are able to. We are here to help. https://familybuildingsociety.co.uk/

Last updated:

19 March 2020

Credit Checks with Callcredit

Our standard acceptability

no

Criteria definition:

Indicates if a Buy to Let lender uses 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

Credit Checks with Equifax

Our standard acceptability

Yes

Criteria definition:

Indicates if a Buy to Let lender uses 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

Credit Checks with Experian

Our standard acceptability

No

Criteria definition:

Indicates if a Buy to Let lender uses 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

Credit Scores?

Our standard acceptability

No

Criteria definition:

Indicates if a Buy to Let lender uses '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

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:

Arif Kara

Arif was previously a mortgage adviser, and focuses on North and West London. Contact Arif for help with your clients' mortgages.
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Your Local BDM:

Michelle Parry-Bunter

Michelle has worked for the Society for over a decade and focuses on the South Coast. Contact Michelle for help with your clients' mortgages.
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Your Local BDM:

Nathan Waller

Nathan, previously a mortgage broker, focuses on Cambridgeshire, East Sussex, Essex, Suffolk, Hertfordshire, Bedfordshire, Lincolnshire, Norfolk and Kent. Contact Nathan for help with your clients' mortgages.
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Your Local BDM:

Grace Bennett

Grace focuses around the West M25 area. Contact Grace for help with your clients' mortgages.
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Your Local BDM:

Darren Deacon

Darren has over 28 years' Financial Services experience and focuses on both the East & West Midlands as well as the Southwest. Contact Darren for help with your clients' mortgages.
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Your Local BDM:

Paul Roberts

Paul has over 30 years' experience and focuses on the North (inc. M62 corridor), Yorkshire & North East. Contact Paul for help with your clients' mortgages.
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We do not currently have a BDM covering your area. Please contact our Mortgage Helpdesk:

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