Criteria A-Z

Our standard acceptability

Standard AST valuation figure used

Criteria definition:

Indicates if we can potentially use the HMO rental valuation as opposed to standard AST valuation for HMO applications

Our policy notes:

We will consider an Small HMO applications

Last updated:

20 February 2025

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially accept Buy to Let applications on Houses of Multiple Occupation (HMOs) that are 'unlicensed'

Our policy notes:

Family Building Society will not consider lending on unlicensed HMO's

Last updated:

25 April 2025

Our standard acceptability

We do not accept HMO applications

Criteria definition:

Indicates if we can potentially consider an HMO application without a communal area in the property

Our policy notes:

Family Building Society does not lend on 'Houses of Multiple Occupation (HMO)'.

Last updated:

30 July 2025

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially consider applications from borrowers that wish to Let the property on a Holiday Let basis.

Our policy notes:

Family Building Society will not consider 'Holiday Lets' on a Buy to Let basis.

Last updated:

22 May 2018

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can potentially accept Buy to Let applications on Houses of Multiple Occupation (HMOs)

Our policy notes:

Family Building Society can consider lending on 'Small Houses of Multiple Occupation (HMO)'. UK Landlords, Limited Companies and Expats can be considered

Last updated:

30 July 2025

Our standard acceptability

75

Criteria definition:

Indicates the maximum potential loan to value (LTV) we can accept where the property type is a NEW BUILD house/bungalow.

Our policy notes:

The maximum LTV the Society will lend up to on any BTL is 75%

Last updated:

12 February 2025

Our standard acceptability

75

Criteria definition:

Indicates the maximum potential loan to value (LTV) we can accept where the property type is a house or bungalow and it is NOT considered a new build.

Our policy notes:

The maximum LTV the Society will lend is 75%

Last updated:

12 February 2025

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially accept income where it is primarily made up of benefits. An example of this would be where benefit income exceeds earned income or represents more than 50% of total income.

Our policy notes:

Family Building Society will not accept applicants income that is made up primarily of benefits.

Last updated:

15 January 2021

Our standard acceptability

3

Criteria definition:

Displays if we accept Buy to Let applications from borrowers who have had an IVA and if so how many years it must have been satisfied for. An IVA is satisfied when the payment plan has been completed. 

IMPORTANT NOTE: An IVA usually stays on the credit file for 6 years from the date it was REGISTERED not from the date it was satisfied which typically occurs 5 years after the date the IVA was entered into (the registered date). This is important because some lenders will specify how long it must have been satisfied for and others will use how long ago it was registered.

This criteria displays how long ago it must have been satisfied so you should read the policy notes carefully to check if the lenders specifies how long ago it must have been registered.

Our policy notes:

We will accept applications from applicants who have had satisfied IVAs for more than three years and with a satisfactory explanation for the circumstances leading up to the IVA.

Last updated:

31 May 2018

Our standard acceptability

6

Criteria definition:

Displays if we accept Buy to Let applications from borrowers who have had an IVA and if so how many years ago it must have been registered. An IVA is registered when a payment plan is agreed with the creditors. 

IMPORTANT NOTE: An IVA usually stays on the credit file for 6 years from the date it was REGISTERED not from the date it was satisfied which typically occurs 5 years after the date the IVA was entered into (the registered date). This is important because some lenders will specify how long it must have been satisfied for and others will use how long ago it was registered. 

This criteria displays how long ago it must have been registered so you must read the policy notes carefully to check if the lender specifies how long ago it must have been satisfied as well.

Our policy notes:

We will look at satisfied IVAs only three years from when they are satisfied.

Last updated:

31 May 2018

Our standard acceptability

Acceptable

Criteria definition:

Specifies if we are able to potentially consider a Buy to Let application from an applicant who has previously had an Individual Voluntary Arrangement (IVA) registered against them. 

IMPORTANT NOTE: An IVA usually stays on the credit file for 6 years from the date it was REGISTERED not from the date it was satisfied which typically occurs 5 years after the date the IVA was entered into (the registered date). This is important because some lenders will specify how long it must have been satisfied for and others will use how long ago it was registered.

This criteria displays if a person who has had an IVA can be considered on a general level but you should read the policy notes and related criteria carefully to dig deeper with regard your clients specific situation.

Our policy notes:

We will accept applications from applicants who have had satisfied IVAs for more than three years and with a satisfactory explanation for the circumstances leading up to the IVA.

Last updated:

31 May 2018

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can consider an inter-family buy to let application with no discount being offered

Our policy notes:

Family Building Society can potentially consider a buy to let application from an inter-family sale with no discount being offered

Last updated:

15 January 2021

Our standard acceptability

Acceptable

Criteria definition:

Specifies if we are able to potentially accept applications where there is evidence of Japanese knotweed at the property or near the property.

Our policy notes:

Please refer these for assessment on a case by case basis. Japanese Knotweed is an invasive plant species and can cause damage to properties if left untreated. Where a valuation report identifys that Japanese Knotweed is present a program of eradication may be required before the Society can lend

Last updated:

25 November 2024

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we will accept applications from joint borrowers where only ONE applicant will OWN the property.

Our policy notes:

We can accept applications where one applicant only is to be an owner and another applicant is also to be on the mortgage. Each application needs to be referred for consideration prior to submission.

Last updated:

29 November 2019

Our standard acceptability

Acceptable

Criteria definition:

Indicates if a we can potentially consider buy to let applications from applicants who have a history of late payments (NOT REGISTERED AS MISSED) on any credit agreements they hold.

Our policy notes:

Family Building Society can potentially accept applicants with previous 'Late Payments'.

Last updated:

15 January 2021

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we will consider a Limited Company Buy to Let application from a layered Ltd Company

Our policy notes:

Family Building Society will not consider applications from a layered Ltd Company

Last updated:

11 September 2020

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially lend on Buy to Let applications for leasehold properties where no separate management company exists.

Our policy notes:

Family Building Society will not lend on leasehold properties where no separate management company exists.

Last updated:

07 November 2019

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can potentially accept ‘no-search indemnity insurance’ for a purchase application

Our policy notes:

Family Building Society can potentially accept ‘no-search indemnity insurance’ for a purchase application

Last updated:

09 December 2024

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can potentially accept ‘no-search indemnity insurance’ for a remortgage application

Our policy notes:

Family Building Society can potentially accept ‘no-search indemnity insurance’ for a remortgage application

Last updated:

09 December 2024

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can potentially accept a private local authority search for a purchase application

Our policy notes:

Family Building Society can potentially accept a private local authority search for a purchase application

Last updated:

09 December 2024