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.

Take a look at what we have to offer
Owner Occupier Criteria
Address History (Min UK address history needed)

Our standard acceptability

36

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.

Our outside policy allowances:

We can consider applications from UK expatriates abroad without a three year UK address history. Please refer to the acceptable list of countries expatriates can be resident in which is located on our website.

Last updated:

20 April 2017

Advisor Own Application

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

Affordability Assessment: Additional Voluntary Pension Contributions

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

Affordability Assessment: Charitable Donations

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

Affordability Assessment: Child Care Vouchers

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

Affordability Assessment: Company Pension

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

Affordability Assessment: Maintenance Payments

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

Affordability Assessment: Private Healthcare

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

Affordability Assessment: School Fees

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

Affordability Assessment: Season Ticket Loans

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

Affordability Assessment: Sharesave Schemes

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

Affordability Assessment: Student Loans

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

Age Limits: Interest Only Maximum Age at end of term

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

Age Limits: Maximum Age at End of Mortgage Term

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:

25 March 2019

Age Limits: Maximum Age at End of Term for a Non Contributory Applicant

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

Age Limits: Maximum Age AT POINT OF APPLICATION

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

Age Limits: Maximum Age at Term End Without Pension Proof ( max retirement age )

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

Age Limits: Minimum Age at Application

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

Age Limits: Retirement Interest Only (RIO) MAXIMUM Age at Application

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

Age Limits: Retirement Interest Only (RIO) Maximum Age at Term End

Our standard acceptability

Does not offer RIO Mortgages

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:

Family Building Society does not offer Retirement Interest Only (RIO) mortgages at this time.

Last updated:

16 September 2020

Age Limits: Retirement Interest Only (RIO) Minimum Age at Application

Our standard acceptability

65

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:

For the variable discounted rate for term products and the fixed rate for 5 years the youngest borrower must be aged 65 or over at the time of application.

Last updated:

03 March 2020

Applicants on Furlough

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we are potentially able to accept an applicant who is currently on furlough leave.

Our policy notes:

Family Building Society can potentially consider an application from applicants who are on furlough leave.

Last updated:

11 September 2020

Arrangement Fees Can Be Added When Exceeding LENDING LTV Limits

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

Arrangement Fees Can Be Added When Exceeding PRODUCT LTV Limits

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

Arrangement to Pay

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

Arrears (secured/mortgage)

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

Arrears (unsecured)

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

Assessment of Additional Residential Mortgages: Monthly Payment or Outstanding Balance

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:

Arif Kara

Arif was previously a mortgage adviser, and focuses on North and West London. Contact Arif for help with your clients' mortgages.
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Your Local BDM:

Michelle Parry-Bunter

Michelle has worked for the Society for over a decade and focuses on the South Coast. Contact Michelle for help with your clients' mortgages.
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Your Local BDM:

Nathan Waller

Nathan, previously a mortgage broker, focuses on Cambridgeshire, East Sussex, Essex, Suffolk, Hertfordshire, Bedfordshire, Lincolnshire, Norfolk and Kent. Contact Nathan for help with your clients' mortgages.
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Your Local BDM:

Grace Bennett

Grace focuses around the West M25 area. Contact Grace for help with your clients' mortgages.
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Your Local BDM:

Darren Deacon

Darren has over 28 years' Financial Services experience and focuses on both the East & West Midlands as well as the Southwest. Contact Darren for help with your clients' mortgages.
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Your Local BDM:

Paul Roberts

Paul has over 30 years' experience and focuses on the North (inc. M62 corridor), Yorkshire & North East. Contact Paul for help with your clients' mortgages.
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We do not currently have a BDM covering your area. Please contact our Mortgage Helpdesk:

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