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.
Acceptable
Criteria definition:Indicates if we can accept a rolling contract as an acceptable source of income for affordability purposes.
Our policy notes:Family Building Society can potentially accept income from a rolling contract
Last updated:03 August 2023
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.
20 April 2017
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.
11 July 2017
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.
08 May 2017
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.
03 July 2017
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.
06 November 2018
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
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
20 April 2017
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.
20 April 2017
no
Criteria definition:Indicates if we use Transunion (formerly Callcredit) as a credit reference agency when assessing applications.
Our policy notes:We currently don't use Callcredit for our credit search facility
20 April 2017
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.
20 April 2017
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