Criteria A-Z
As we manually underwrite our mortgages we’re much more flexible with our criteria than most. Using our common sense approach (and our ears!) means we can cater for a larger variety of life stages and circumstances for your clients than many other lender.
Browse criteria by A-Z below or search criteria by keyword to find what you need.
Our standard acceptability
3
Criteria definition:
This is the required number of months we specify an applicant has to have had a UK address history for.
Our policy notes:
We require a three year UK address history.
Last updated:
16 September 2021
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept residential applications from an advisor wishing to apply for his or her own mortgage.
Our policy notes:
Family Building Society can accept applications from advisors applying for their own mortgage.
Last updated:
09 September 2019
Our standard acceptability
Can Be Ignored
Criteria definition:
Indicates if we can potentially ignore additional voluntary pension contributions when assessing applicants expenditure for affordability purposes.
Our policy notes:
Family Building Society will ignore 'Additional Voluntary Pension Contributions' when assessing borrowers affordability.
Last updated:
10 May 2018
Our standard acceptability
Can Be Ignored
Criteria definition:
Indicates if we can potentially ignore charitable donations when assessing applicants expenditure for affordability purposes.
Our policy notes:
Family Building Society will ignore 'Charitable Donations' when assessing borrowers affordability.
Last updated:
10 May 2018
Our standard acceptability
Not Ignored
Criteria definition:
Indicates if we can potentially ignore childcare vouchers when assessing applicants expenditure for affordability purposes.
Our policy notes:
Family Building Society automatically allow for the cost of child care when assessing borrowers affordability. However, we will need to factor in the cost of nursery fees or school fees and these need to be declared at application.
Last updated:
06 November 2018
Our standard acceptability
Can Be Ignored
Criteria definition:
Indicates if we can potentially ignore company pension contributions when assessing applicants expenditure for affordability purposes.
Our policy notes:
Family Building Society will ignore 'Company Pension Contributions' when assessing borrowers affordability.
Last updated:
10 May 2018
Our standard acceptability
Not Ignored
Criteria definition:
Indicates if we can potentially ignore maintenance payments when assessing applicants expenditure for affordability purposes.
Our policy notes:
Family Building Society will include 'Maintenance Payments' when assessing borrowers affordability.
Last updated:
10 May 2018
Our standard acceptability
Can Be Ignored
Criteria definition:
Indicates if we can potentially ignore non-dependant household occupants when assessing applicants expenditure for affordability purposes.
Our policy notes:
Family Building Society will ignore non dependant household occupants when assessing borrower's affordability.
Last updated:
03 August 2022
Our standard acceptability
Not Ignored
Criteria definition:
Indicates if we can potentially ignore personal borrowing for self employed business purposes when assessing borrowers affordability
Our policy notes:
Family Building Society will include personal borrowing for self employed business purposes when assessing borrowers affordability
Last updated:
22 February 2023
Our standard acceptability
Can Be Ignored
Criteria definition:
Indicates if we can potentially ignore private health care premiums when assessing applicants expenditure for affordability purposes.
Our policy notes:
Family Building Society will ignore 'Private Healthcare Payments' when assessing borrowers affordability.
Last updated:
10 May 2018
Our standard acceptability
Not Ignored
Criteria definition:
Indicates if we can potentially ignore school fees when assessing applicants expenditure for affordability purposes.
Our policy notes:
Family Building Society will include 'School Fees' when assessing borrowers affordability.
Last updated:
10 May 2018
Our standard acceptability
Can Be Ignored
Criteria definition:
Indicates if we can potentially ignore season ticket loans when assessing applicants expenditure for affordability purposes.
Our policy notes:
Family Building Society will ignore 'Season Ticket Loans' when assessing borrowers affordability.
Last updated:
10 May 2018
Our standard acceptability
Can Be Ignored
Criteria definition:
Indicates if we can potentially ignore share save schemes when assessing applicants expenditure for affordability purposes.
Our policy notes:
Family Building Society will ignore 'Sharesave Schemes' when assessing borrowers affordability.
Last updated:
10 May 2018
Our standard acceptability
Not Ignored
Criteria definition:
Indicates if we can potentially ignore student loans when assessing applicants expenditure for affordability purposes.
Our policy notes:
Family Building Society will include 'Student Loans' when assessing borrowers affordability.
Last updated:
10 May 2018
Our standard acceptability
89
Criteria definition:
Indicates the maximum age at the end of the mortgage term we could consider for an interest only application on residential applications
Our policy notes:
Family Building Society allows Interest Only mortgages up until a maximum age of 89 for the oldest applicant. Please refer to the table located here;
https://intermediaries.familybuildingsociety.co.uk/docs/default-source/lifetime-mortgage/fbs_m184_10...
Last updated:
11 September 2020
Our standard acceptability
95
Criteria definition:
Indicates the absolute maximum age we might lend to. In summary 'Age Limits: Maximum Age at End of Mortgage Term' indicates the age we can potentially lend up until if you meet all required criteria.
Our policy notes:
The maximum age based on an 89 year old applying for an interest only mortgage is 94. The actual term for other ages depends on the age at application please refer to the table on our website located here.
The maximum age for a capital and interest repayment mortgage is 95 years.
Last updated:
22 February 2023
Our standard acceptability
89
Criteria definition:
Specifies the maximum age we can potentially accept for a non-contributing applicant. A non-contributing applicant is an applicant whose income is not factored into the affordability of the mortgage.
Our policy notes:
Our normal mortgage term maximums apply whether an applicant contributes to the mortgage or not.
Last updated:
23 May 2017
Our standard acceptability
89
Criteria definition:
Indicates the maximum age (at the point of application) an applicant can be in order for them to be considered for an application with us.
Our policy notes:
The maximum age of each applicant should be no greater than 89 years old. Our maximum term at this age would be 5 years.
Last updated:
20 April 2017
Our standard acceptability
70
Criteria definition:
Specifies the maximum age we might be able to accept before proof of acceptable pension income would be required. This figure can vary from applicant to applicant as it often depends upon other factors such as an applicant's planned retirement age. Therefore the value shown is the maximum age we may be able to lend to before pension proof would be required and assumes applicants planned retirement age is not sooner than our stated maximum.
Our policy notes:
We will only allow a mortgage term to age 70 where no pension income is being assessed.
Last updated:
07 October 2018
Our standard acceptability
65
Criteria definition:
Specifies the maximum age we can potentially accept for a self employed borrower.
Our policy notes:
Generally speaking we can only take self-employed income to the applicant's age 70 (normal retirement age) although we can sometimes go beyond this. 65 is generally the maximum age for a five year term.
Last updated:
03 August 2023
Our standard acceptability
18
Criteria definition:
Specifies our minimum age at point of application requirement for residential mortgages.
Our policy notes:
The minimum age of each applicant must be 18.
Last updated:
20 April 2017
Our standard acceptability
No Maximum
Criteria definition:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so, do we have a MAXIMUM AGE AT APPLICATION requirement.
Our policy notes:
There is no maximum age.
Last updated:
10 March 2020
Our standard acceptability
No Maximum
Criteria definition:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so, do we have a maximum age at the end of the term requirement. Mortgage lenders are not required to set a fixed term for the mortgage and so the repayment date can be when the borrower dies or goes into care, as with Lifetime Mortgages.
Our policy notes:
Our normal maximum age is 95 years however on RIO mortgages there is no maximum age at end of term
Last updated:
11 January 2021
Our standard acceptability
55
Criteria definition:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so, do we have a minimum age requirement.
Our policy notes:
Last updated:
21 June 2022
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we will consider a residential application for an applicant who is not on the electoral register
Our policy notes:
Family Building Society can consider an applicant who is not on electoral register
Last updated:
03 August 2022
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept residential applications from an Apprentice
Our policy notes:
Family Building Society Will not allow applications from an Apprentice
Last updated:
03 August 2023
Our standard acceptability
No
Criteria definition:
Indicates if we allow borrowers to add the arrangement fee (where one is payable) to the mortgage advance where this will mean the max lending policy loan to value will be exceeded.
Our policy notes:
Family Building Society does not allow fees to be added where it means the lending loan to value limits will be exceeded.
Last updated:
10 May 2018
Our standard acceptability
No
Criteria definition:
Indicates if we allow borrowers to add the arrangement fee (where one is payable) to the mortgage advance where this will mean the product loan to value will be exceeded.
Our policy notes:
Family Building Society does not allow fees to be added where it means the product loan to value limits will be exceeded.
Last updated:
10 May 2018
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept applicants that have an arrangement to pay registered on their credit file on residential applications.
Our policy notes:
Family Building Society will not consider applicants that have an arrangement to pay registered on their credit file.
Our outside policy allowances:
Arrangements to pay that were cleared/satisfied over two years ago can be considered subject to referral to the Society with an up to date credit file.
Last updated:
09 September 2019
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept applications from applicants that have a history of mortgage or secured loan arrears.
Our policy notes:
Any existing mortgage or secured loan must be up to date at the time of application. A maximum of one month’s arrears within the last 12 months will be allowed, provided the account is currently up to date. An explanation of any arrears will be required.
Last updated:
20 April 2017
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept applications from applicants that have a history of unsecured loan arrears.
Our policy notes:
Any existing mortgage/rent/loan must be up to date at the time of application. A maximum of one month’s arrears within the last 12 months will be allowed, provided the account is currently up to date. An explanation of any arrears will be required.
Last updated:
20 April 2017
Our standard acceptability
Monthly Payment
Criteria definition:
Indicates if we will use the monthly payment of any background other residential mortgages when assessing affordability or the outstanding balance. For example, Applicant 'A' is applying for a new mortgage with Lender 'A'. Applicant 'A' has a second property in the background that is used as a second home with an outstanding mortgage of £50,000 and a monthly payment of £300 per month. When assessing Applicant 'A's' income Lender 'A' take the monthly payment of the background mortgage as a monthly commitment as opposed to deducting the outstanding balance (£50,000) from the total amount they have calculated Applicant 'A' could borrow based on his income.
Our policy notes:
Family Building Society will use the monthly payment of any additional residential mortgages when assessing affordability as opposed the outstanding balance.
Last updated:
25 September 2019
Affordability Calculator
Find out how much your residential client may be able to borrow. To see affordability for a Buy to Let client, use our Buy to Let calculator
Find Your Local
Business Development Manager
Your Local BDM:
Sam Morrison
Your Local BDM:
Neil Cadwallader
Your Local BDM:
Stuart Heavens
Your Local BDM:
Amar Mashru
Your Local BDM:
Arif Kara
Your Local BDM:
Nathan Waller
Your Local BDM:
Grace Bennett
Your Local BDM:
Darren Deacon
Your Local BDM:
Paul Roberts
We do not currently have a BDM covering your area. Please contact our Mortgage Helpdesk:
- 01372 744155
- 01372 745607
- mortgage.desk@familybsoc.co.uk
Opening hours: Monday - Friday: 9am - 5.30pm. Saturday: Closed
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