Criteria A-Z

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we can accept a gift as a deposit source outside of immediate family members such as a friend, employer or cousin for example.

Our policy notes:

These are not acceptable.

Last updated:

31 May 2018

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we can accept a loan from an immediate family member as an acceptable source of deposit on a buy to let application.

Our policy notes:

Family Building Society is unable to accept deposits where the source is a loan from immediate family

Last updated:

03 August 2022

Our standard acceptability:

Acceptable

Criteria definition:

Indicates if we can accept monies raised from the mortgage of an additional property as an acceptable source of deposit.

Our policy notes:

This is acceptable.

Last updated:

31 May 2018

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if can potentially accept deposits that have originated outside of the European Economic Area (EEA) as an acceptable source of deposit.

Our policy notes:

We do not accept funds from sources deposited outside of the EU.

Our outside policy allowances:

If the country the funds are deposited in are FATF compliant the case should be referred for further consideration.

Last updated:

04 July 2025

Our standard acceptability:

Acceptable

Criteria definition:

Indicates whether or not we will accept a redundancy payment as an acceptable source of deposit on a BTL application. 

Our policy notes:

Family Building Society can potentially accept a redundancy payment as an acceptable source of deposit

Last updated:

03 August 2022

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates whether or not we will accept borrowers source of deposit as a loan. For example a person is looking to put down a total 25% deposit and borrow a 75% mortgage. 5% of the total deposit is a bank loan.

Our policy notes:

We do not accept deposits that have been borrowed.

Last updated:

31 May 2018

Our standard acceptability:

Acceptable

Criteria definition:

Indicates if we can potentially consider an application with a split term. For example, an applicant wishes to take one part of their mortgage over 25 years and another part over 10 years.

Our policy notes:

Family Building Society can offer mortgages with split term durations

Last updated:

16 September 2020

Our standard acceptability:

ICR based

Criteria definition:

This relates to the potential rental calculation we will apply. 

Our policy notes:

Please refer to the Society's website

Last updated:

03 August 2023

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we can potentially use the student Let rental valuation as opposed to the open market valuation to a typical tenant (family, couples, etc)

Our policy notes:

Family Building Society will not use the student Let rental valuation for affordability as opposed to the open market rental valuation.

Last updated:

07 November 2019

Our standard acceptability:

No

Criteria definition:

Indicates if we can potentially ignore telecommunications adverse credit on Buy to Let applications.

Our policy notes:

Family Building Society will not ignore telecommunications adverse.

Last updated:

07 November 2019

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we can potentially consider applications from borrowers that wish to Let the property to an Asylum Seeker.

Our policy notes:

Family Building Society will not consider applications where the property will be let to an Asylum seeker

Last updated:

07 November 2019

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we an potentially consider applications from borrowers that wish to Let the property on a Corporate Let or Company Let

Our policy notes:

Family Building Society will consider properties that are to be Let on a Corporate/Company Let basis.

Last updated:

09 December 2024

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we can potentially consider applications from borrowers that wish to Let the property to Housing Association tenants.

Our policy notes:

Family Building Society does not accept Housing Association tenants.

Last updated:

22 May 2018

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we can potentially consider applications from borrowers that wish to Let the entire property via services such as AirBnB and similar.

Our policy notes:

Family Building Society does not lend on properties that are intended to be Let as a 'Holiday Let'

Last updated:

31 January 2018

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we can potentially consider applications from borrowers that wish to have multiple tenancies on a Buy to Let property.

Our policy notes:

Family Building Society will not consider a Buy to Let application with multiple tenancies

Last updated:

07 November 2019

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we can potentially consider applications from borrowers that wish to Let the property to a tenant who is benefiting from a protected tenancy.

Our policy notes:

Family Building Society will not consider applications where the tenant enjoys a 'Protected Tenancy'.

Last updated:

07 November 2019

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we can potentially accept Buy to Let applications on properties that are considered 'Serviced Properties'. These are typically furnished properties that are Let on a short term basis and the rent covers all amenities including the rent.

Our policy notes:

Family Building Society will not consider applications where the property will be Let as a 'Serviced Property'.

Last updated:

07 November 2019

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we can potentially consider applications from borrowers that wish to Let the property to students

Our policy notes:

Family Building Society does not allow applicants to Let their Buy to Let property to Students.

Last updated:

22 May 2018

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we can potentially consider Buy to Let applications where the tenant will be (or is) a third party who pays a rent to the applicant and acts as the primary tenant but Sub-Lets the property. This is sometimes referred to as 'Rent to Rent'.

Our policy notes:

Family Building Society will not consider applications where the property will be Let to a third party who will in turn Sublet the property.

Last updated:

07 November 2019

Our standard acceptability:

No

Criteria definition:

Indicates if we can potentially offer Buy to Let mortgages on a transitional arrangement as defined by the FCA under MCOB 11.8

Our policy notes:

Family Building Society does not offer Buy to Let mortgages on a transitional arrangement basis.

Last updated:

07 November 2019