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.
18
Criteria definition:Specifies our minimum age at point of application requirement for residential mortgages.
Our policy notes:18
11 June 2026
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
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 normal maximum age is 95 years however on RIO mortgages there is no maximum age at end of term
Last updated:11 January 2021
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:21 June 2022
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
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
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
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
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
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.
20 April 2017
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.
14 May 2026
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