Can use actual existing rent when higher than valuers estimate

Our standard acceptability

No

Criteria definition:

Indicates if we can potentially use the actual rent received from an existing tenant when it is higher than the valuer's estimate. For example, this situation could arise on remortgage applications where, in the valuer's 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