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
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
Affordability Calculator
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Find Your Local
Business Development Manager
Your Local BDM:
Sam Morrison
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Neil Cadwallader
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Stuart Heavens
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Amar Mashru
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Arif Kara
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Nathan Waller
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Grace Bennett
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Darren Deacon
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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
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