Can use valuers rental estimate even if higher than actual existing rent

Our standard acceptability

No

Criteria definition:

Indicates if we can potentially use the valuer's estimate when assessing loan affordability even if the actual rent being received is less than the estimate. For example, this situation could arise on remortgage applications where the existing tenant is paying below the market estimate (based on the valuer's rental valuation).

Policy Notes:

Family Building Society will use actual rent if lower than the valuers estimate

Criteria categories:

• affordability
• Policy

Last updated:

29 August 2018