Can use actual existing rent when higher than valuers estimate

Our standard acceptability

No

Criteria definition:

Indicates if a lender can potentially use the actual rent received from an existing tenant when it is higher than the valuers estimate. For example this situation could arrise on remortgage applications where, in the valuers opinion, the market rent is lower than what the landlord is currently receiving.

Policy Notes:

Family Building Society will not use the current rent received from the current tenant for affordability assessment when it exceeds the valuers estimate.

Criteria categories:
  • affordability
  • Policy

Last updated:

29 August 2018