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.
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
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
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
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
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
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
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
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
75
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 75%
Last updated:12 February 2025
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
75
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 75% LTV.
Last updated:12 February 2025
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
75
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 75%. We will require a certificate of understanding to be signed after offer and before completion.
12 February 2025
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
75
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 75% LTV
Last updated:12 February 2025
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 can potentially consider capital raising on a remortgage where the purpose of the funds are for home improvements to another property owned by the applicant
Last updated:10 December 2024
75
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 75% (our current maximum LTV for all BTLs).
Last updated:12 February 2025
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
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
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
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