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
Regulated Buy to Let (Let to Family Member)

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if a lender 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

Remortgage Purpose: 100% Staircase Shared Ownership to Let to Buy

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

Remortgage Purpose: Business Purposes

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

Remortgage purpose: Buy to Let Purchase (maximum LTV)

Our standard acceptability

70

Criteria definition:

Indicates the maximum loan to value (LTV) a Buy to Let lender 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

Remortgage purpose: Capital raise for BTL where property not yet found

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

Remortgage purpose: Debt Consolidation (maximum LTV)

Our standard acceptability

70

Criteria definition:

Indicates the maximum loan to value (LTV) a Buy to Let lender will accept where there is an element of debt consolidation on a remortgage application. For example Trevor owns a property that is worth £200,000 and has a current outstanding balance of £140,000. He would like to consolidate an unsecured loan which has an outstanding balance of £10,000 and therefore needs a total loan of £150,000 giving him a LTV of 75%. He approaches his bank who tells him that they are happy where there is some debt consolidation so long as the overall LTV does not exceed 75% and therefore Trevor is able to proceed with an application.

Our policy notes:

The Society will lend up to 70% LTV.

Last updated:

31 May 2018

Remortgage purpose: Extending a lease

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

Remortgage purpose: HMO conversion back to standard residence

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

Remortgage purpose: Home Improvements (maximum LTV)

Our standard acceptability

70

Criteria definition:

Indicates if a Buy to Let lender is 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

Remortgage Purpose: Home Improvements (other property)

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

Remortgage purpose: Land Purchase (maximum LTV)

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

Remortgage purpose: Lifestyle (holidays, car's, non essential spending etc)

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

Remortgage purpose: Medical expenses

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

Remortgage purpose: Personal investments (not property related)

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

Remortgage Purpose: Purchase Commercial Property

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

Remortgage Purpose: Purchase Overseas Property

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

Remortgage Purpose: Repay Help to Buy and Let the Property

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

Remortgage purpose: School/Education fees

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

Remortgage waiting period

Our standard acceptability

6

Criteria definition:

Indicates the number of months a Buy to Let lender states a person must have owned a property before it can be considered for a remortgage application. For example John purchased a property at auction 3 months ago and now wishes to remortgage the property to raise some funds. He approaches his lender of choice and they state that he must have owned the property for a minimum of 6 months before he can apply for a mortgage against it. John is therefore unable to apply for a mortgage on this property with his chosen lender at this moment in time. 

Our policy notes:

We will consider remortgages after 6 month's ownership.

Last updated:

31 May 2018

Repayment (Capital & Interest)

Our standard acceptability

Acceptable

Criteria definition:

Indicates if a lender accepts 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

Restricted Sale Price

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

Retrospective New Build Warranty

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

Returning to UK - Employed

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

Returning to UK - Self-Employed

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

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.
Edit my local BDM

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.
Edit my local BDM

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.
Edit my local BDM

Your Local BDM:

Grace Bennett

Grace focuses around the West M25 area. Contact Grace for help with your clients' mortgages.
Edit my local BDM

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.
Edit my local BDM

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.
Edit my local BDM

We do not currently have a BDM covering your area. Please contact our Mortgage Helpdesk:

Opening hours: Mon - Fri: 8am - 5.30pm, Sat: 9am - noon

We may record any telephone calls we have with you in the interest of staff training, monitoring customer service or for security purposes.

Edit my local BDM