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
Can extend mortgage offer

Our standard acceptability

Yes

Criteria definition:

Indicates if we can potentially extend a clients mortgage offer beyond the standard expiry.

Our policy notes:

Documentation and the valuation may need to be updated if these items exceed six months old.

Last updated:

23 May 2017

CCJs registered between 12 to 24 Months

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially accept applicants that have had any CCJs registered more than 12 months ago and less than 24 months ago. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.

Our policy notes:

Family Building Society will not consider applicants that have had CCJs registered more than 12 months ago and less than 24 months ago.

Our outside policy allowances:

We can consider one satisfied County Court Judgement, with a total value of up to £500, within the last three years. Subject to a suitable explanation for the circumstances around the CCJ being registered.

Last updated:

09 September 2019

CCJs registered between 24 to 36 Months

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially accept applicants that have had any CCJs registered more than 24 months ago and less than 36 months ago. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.

Our policy notes:

Family Building Society will not consider applicants that have had CCJs registered more than 24 months ago and less than 36 months ago.

Our outside policy allowances:

One satisfied CCJ for up to £500 can be considered subject to a satisfactory explanation.

Last updated:

25 September 2019

CCJs registered between 3 to 12 Months

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially accept applicants that have had any CCJs registered more than 3 months ago and less than 12 months ago. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.

Our policy notes:

Family Building Society will not consider applicants that have had CCJs registered more than 3 months ago and less than 12 months ago.

Last updated:

25 September 2019

CCJs registered in last 3 Months

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially accept applicants that have had any CCJs registered in the past 3 months. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.

Our policy notes:

Family Building Society will not consider applicants that have had CCJs registered in the past 3 months.

Last updated:

09 September 2019

CCJs registered over 36 Months ago

Our standard acceptability

Potentially Ignored

Criteria definition:

Indicates if we can potentially ignore CCJs that were registered more than 36 months ago. Other factors will also be taken into consideration such as, but by no means limited to, number of adverse, value and the overall credit profile of an applicant.

Our policy notes:

Family Building Society can potentially ignore any CCJs that were registered over 36 months ago.

Last updated:

09 September 2019

Concessionary purchase (Family)

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we accept concessionary purchase applications where the current owner is related to one of the applicants. For example, Mr Smith has agreed to sell a property he owns to his grandson (Joe) for £150,000. The property is worth £200,000. Joe wishes to purchase the property for £150,000 and would like a lender who will use the difference between the property value and the purchase price as a deposit (£50,000).


Our policy notes:

We can accept the equity being 'gifted' as the deposit for a family purchase. The family member who is the vendor must vacate the property and not retain a financial interest.

Last updated:

03 July 2017

Concessionary purchase (Landlord)

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we accept concessionary purchase applications where the current owner is the landlord of the property and the applicant(s) are the tenants. For example, Mr Landlord has agreed to sell the property he Lets to his tenants (Tom and Sally) for £150,000. The property is worth £200,000. Tom and Sally wish to purchase the property for £150,000 and would like a lender who will use the difference between the property value and the purchase price as a deposit (£50,000).

Our policy notes:

The Society will lend up to 100% of the purchase price or 80% of the valuation, whichever is the lower. We insist on an insolvency indemnity to be arranged by the solicitors.

Last updated:

31 August 2017

Concessionary purchase Where Giftor Will Remain

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we accept concessionary purchase applications where the current owner is providing a gift of equity AND WILL REMAIN IN THE PROPERTY. For example, Mr Lane has agreed to sell a property he owns to his son (Tony) for £150,000. The property is worth £200,000. Tony wishes to purchase the property for £150,000 and would like a lender who will use the difference between the property value and the purchase price as a deposit (£50,000) and is happy for Mr Lane senior to remain in the property.

Our policy notes:

Family Building Society does not accept the situation where it is a concessionary purchase where the giftor will remain an occupant of the property.

Last updated:

10 May 2018

Consent to Let a Room (via AirBnB or similar)

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we allow borrowers to Let a room via services such as AirBnB or similar. FOR CLARIFICATION this is for the situation whereby the borrower resides in the security property and Lets a room in that property.

Our policy notes:

We are unable to accept applications with Let a room

Last updated:

23 October 2017

Consent to Let, Tied Accommodation

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially allow applicants that are in tied accommodation to take a residential product and give the applicant permission to Let the property whilst they remain in the tied accommodation. For example an applicant who is moving into or currently in tied accommodation linked to their employment (e.g. boarding school teacher, vicar/minster, estate worker, army barracks etc) and will remain in this situation until their job ceases at some point in the future. They'd like to purchase a property that they intend to live in at a later date but would like to Let the property whilst they remain in tied accommodation.

Our policy notes:

These are not acceptable.

Last updated:

17 July 2017

Contract Reassignment

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we are potentially able to accept the situation whereby the purchaser is looking to buy a new build property from a third party (not the builder/developer) who has yet to complete on the transaction. An example of this is whereby a third party has secured the property off plan and exchanged contracts but has not completed. They then sell the contract to a new purchaser. This is known as 'contract reassignment'. Sometimes this is for a premium of the original purchase price and sometimes it is without a premium.

Our policy notes:

These are not acceptable.

Last updated:

17 July 2017

Contractor Income: Agency work

Our standard acceptability

Not Acceptable

Criteria definition:

Displays if we will accept Agency work as an acceptable source of income for affordability purposes.

Our policy notes:

We would not accept income from an agency.

Our outside policy allowances:

If employment is based on agency income but has been in existence for three years or more please refer the application for further consideration.

Last updated:

20 April 2017

Contractor Income: CIS Contractor

Our standard acceptability

Acceptable

Criteria definition:

Displays if we will accept CIS Contractor as an acceptable source of income for affordability purposes.

Our policy notes:

We can accept income from a CIS contractor however we would regard them as self-employed and would ask to see their last two year's SA302s or accounts.

Last updated:

20 April 2017

Contractor Income: Fixed Term Contract

Our standard acceptability

Acceptable

Criteria definition:

Displays if we will accept Fixed Term Contract as an acceptable source of income for affordability purposes.

Our policy notes:

These are generally acceptable but need to be assessed on a case by case basis. Please refer these to the Society for individual assessment.

Last updated:

17 July 2017

Contractor Income: IT Consultant

Our standard acceptability

Acceptable

Criteria definition:

Displays if we will accept IT Contractor as an acceptable source of income for affordability purposes.

Our policy notes:

IT contractors are usually paid via their own limited company and so are self-employed. In this instance we would treat them as we would any self-employed individual.If they are employed on a PAYE basis (sometimes through an 'umbrella company' we can consider them under our contractor criteria. The minimum daily rate would have to be £350 per day and two years consistent history of contracting would need to be provided. We calculate income for 'employed' contractors as daily rate times 5 days times 48 weeks.

Last updated:

03 July 2017

Contractor Income: Nursing Bank

Our standard acceptability

Acceptable

Criteria definition:

Displays if we will accept Nursing Bank as an acceptable source of income for affordability purposes.

Our policy notes:

We would expect the applicant to have two year's experience as a bank nurse.

Last updated:

03 July 2017

Contractor Income: Piecework Contract

Our standard acceptability

Acceptable

Criteria definition:

Displays if we will accept Piecework Contract as an acceptable source of income for affordability purposes.

Our policy notes:

We would accept this income if there is sufficient evidence provided justifying a consistent level of income over a reasonable period of time (normally two years).

Last updated:

03 July 2017

Contractor Income: Probationary contract

Our standard acceptability

Not Acceptable

Criteria definition:

Specifies if we accept someone's income who is on a 'probationary contract'. A probationary contract is not the same as a probationary period. If your client is simply in a probationary period then you should check that specific criteria.

Our policy notes:

These are not acceptable.

Last updated:

11 July 2017

Contractor Income: Seasonal Contract

Our standard acceptability

Not Acceptable

Criteria definition:

Displays if we will accept Seasonal Contract as an acceptable source of income for affordability purposes.

Our policy notes:

We do not accept this as a source of income.

Last updated:

20 April 2017

Contractor Income: Short Term Renewable Contract

Our standard acceptability

Acceptable

Criteria definition:

Displays if we will accept Short Term Renewable Contract as an acceptable source of income for affordability purposes.

Our policy notes:

If for self-employed contract workers these are acceptable.

Last updated:

11 July 2017

Contractor Income: Sub contractor

Our standard acceptability

Acceptable

Criteria definition:

Displays if we will accept Sub contractor as an acceptable source of income for affordability purposes.

Our policy notes:

Sub contractors normally refer to those employed under the CIS scheme and, as such, we regard them as self-employed.

Last updated:

08 May 2017

Contractor Income: Temporary Contract

Our standard acceptability

Not Acceptable

Criteria definition:

Displays if we will accept Temporary Contract as an acceptable source of income for affordability purposes.

Our policy notes:

We do not accept applications from those on temporary contracts as we do not feel this income can be relied on.

Last updated:

03 July 2017

Contractor Income: Umbrella Company

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can consider contractor income where the income paid to the applicant is paid via an umbrella company.

Our policy notes:

Family Building Society can potentially consider contractor income that is paid via an umbrella company.

We would treat income as we would a zero hours employee and look for a history of employment in that industry or role together with sight of the contractor's last two years' P60s or SA302s. Where applicable, we would also take into account deductions for 'employer' National Contributions (where these are paid for by the contractor) and the umbrella company charges when assessing affordability.

Last updated:

06 November 2018

Contractor Income: Zero Hours Contract

Our standard acceptability

Acceptable

Criteria definition:

Displays if we will accept Zero Hours Contract as an acceptable source of income for affordability purposes.

Our policy notes:

A track record demonstrating income must be provided covering no less than a 2 year period.

Last updated:

03 July 2017

County Court Judgements (CCJs) (Satisfied) potentially accepted

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can potentially accept applications from applicants that have had/or have satisfied CCJs registered against their name.

Our policy notes:

One County Court Judgement (CCJ), with a total value less than £500, within the last three years subject to being satisfied and a satisfactory explanation provided.

Last updated:

20 April 2017

County Court Judgements (CCJs) (Unsatisfied) potentially accepted

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially accept applications from applicants that have had/or have unsatisfied CCJs registered against their name. 

Our policy notes:

We will not accept applications where CCJs exist that have not been satisfied.

Last updated:

20 April 2017

Covid-19: Are you offering a payment holiday?

Our standard acceptability

Contact Lender

Criteria definition:

Displays if we will allow borrowers to take a payment holiday due to payment difficulties related to the Covid-19 outbreak.

Our policy notes:

If the situation surrounding coronavirus is affecting your ability to pay your mortgage, please contact us to discuss the options available to you. You can send an email to: mortgage.service@familybsoc.co.uk or call our mortgage team on 03330 140146. We promise to respond as soon as we are able to. We are here to help. https://familybuildingsociety.co.uk/

Last updated:

19 March 2020

Covid-19: Fees waived for missed mortgage payments (not agreed payment holidays) due to Covid-19 difficulties

Our standard acceptability

Contact Lender

Criteria definition:

Displays if we will consider waiving fees for late mortgage payments that were due to payment difficulties related to the Covid-19 outbreak.

Our policy notes:

If the situation surrounding coronavirus is affecting your ability to pay your mortgage, please contact us to discuss the options available to you. You can send an email to: mortgage.service@familybsoc.co.uk or call our mortgage team on 03330 140146. We promise to respond as soon as we are able to. We are here to help. https://familybuildingsociety.co.uk/

Last updated:

19 March 2020

Covid-19: Policy

Our standard acceptability

Yes

Criteria definition:

Displays if we have a Covid-19 policy and if so the details of it.

Our policy notes:

If the situation surrounding coronavirus is affecting your ability to pay your mortgage, please contact us to discuss the options available to you. You can send an email to: mortgage.service@familybsoc.co.uk or call our mortgage team on 03330 140146. We promise to respond as soon as we are able to. We are here to help. https://familybuildingsociety.co.uk/

Last updated:

19 March 2020

Covid-19: Will allow conversion to interest only?

Our standard acceptability

Contact Lender

Criteria definition:

Displays if we will allow borrowers to convert their mortgage from repayment to interest-only due to payment difficulties related to the Covid-19 outbreak.

Our policy notes:

If the situation surrounding coronavirus is affecting your ability to pay your mortgage, please contact us to discuss the options available to you. You can send an email to: mortgage.service@familybsoc.co.uk or call our mortgage team on 03330 140146. We promise to respond as soon as we are able to. We are here to help. https://familybuildingsociety.co.uk/

Last updated:

19 March 2020

Credit Checks with Callcredit

Our standard acceptability

no

Criteria definition:

Indicates if we use Callcredit as a credit reference agency when assessing applications.

Our policy notes:

We currently don't use Callcredit for our credit search facility

Last updated:

20 April 2017

Credit Checks with Equifax

Our standard acceptability

Yes

Criteria definition:

Indicates if we use Equifax as a credit reference agency when assessing applications.

Our policy notes:

We currently use Equifax for our credit search facility

Last updated:

20 April 2017

Credit Checks with Experian

Our standard acceptability

No

Criteria definition:

Indicates if we use Experian as a credit reference agency when assessing applications.

Our policy notes:

We currently don't use Experian for our credit search facility.

Last updated:

20 April 2017

Credit Scores?

Our standard acceptability

No

Criteria definition:

Indicates if we use 'credit scoring' to assess a client(s) mortgage application usually, at, agreement in principle (AIP) stage.

Our policy notes:

We don't credit score applications. Applications are assessed individually based on their own merit by underwriters.

Last updated:

20 April 2017

Criminal Convictions

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can potentially accept applicants that have a criminal record.

Our policy notes:

Family Building Society can potentially accept applicants with criminal convictions.

Last updated:

10 May 2018

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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