Criteria A-Z

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:

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 consider remortgage applications with capital raising to purchase a property overseas.

Last updated:

02 September 2025

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:

75

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 75% when remortgaging with capital raising to repay their residential mortgage

Last updated:

12 February 2025

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