Criteria A-Z

Our standard acceptability

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

Our standard acceptability

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

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

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

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

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