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
Day 1 Remortgage (if inherited property)

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we accept remortgage applications from an applicant who has recently inherited the property. For example, James inherited a property today and wishes to remortgage it to raise some funds. 

Our policy notes:

We would consider applications for a day one remortgage on an inherited property if it were to improve the property or buy out other beneficiaries.

Last updated:

03 July 2017

Day 1 Remortgage (NOT inherited property)

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we accept day one remortgage applications. An example of this type of situation would be where an applicant has recently purchased a property at auction for cash and then wishes to release funds by remortgaging the property straight away. 

Our policy notes:

We would not accept a day 1 remortgage that is not an inherited property.

Last updated:

20 April 2017

Debt Management Plan (Current/Unsatisfied)

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially accept an application from an applicant who is currently in a debt management plan.

Our policy notes:

We do not accept applications where there is an existing and unsatisfied debt management plan.

Last updated:

20 April 2017

Debt Management Plan (satisfied)

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially accept an application from an applicant who has previously had a debt management plan that is now satisfied.

Our policy notes:

We do not accept applications from applicants who have had a satisfied debt management plan.

Our outside policy allowances:

We could consider applicants who have had a satisfied debt management plan where this was satisfied at least three years ago. Please refer the application for further consideration.

Last updated:

20 April 2017

Debt Related: Debt being repaid fully or partially ignored

Our standard acceptability

Yes

Criteria definition:

Indicates if, when assessing affordability, we are able to potentially ignore debts that an applicant is intending to repay on or before completion of the new mortgage. 

Our policy notes:

If applicants indicate that a credit commitment is to be repaid on or prior to completion we will ignore it from an affordability perspective. It is our standard policy to condition any mortgage offer to stipulate that the commitment be settled if affordability requires it.

Last updated:

23 May 2017

Debt Related: Expiring debt can be partially or fully ignored

Our standard acceptability

Yes

Criteria definition:

Indicates if, when assessing affordability, we are able to potentially ignore (in part or in full) loans that are coming to an end (typically 6 months or less to run). 

Our policy notes:

We usually ignore loans which have less than 12 months to run. These still need to be declared on the application form.

Last updated:

23 May 2017

Debt Related: Payday loan (current)

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially accept an application from an applicant who is currently in a payday loan credit agreement

Our policy notes:

We do not accept applications where any applicant has a payday loan.

Last updated:

20 April 2017

Debt Related: Payday loan (previous)

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially accept an application from an applicant who has had a payday loan in the past but is not currently in a payday loan credit agreement.

Our policy notes:

We do not accept applications from applicants who have taken a payday loan.

Our outside policy allowances:

Please refer applicants where a payday loan hasn't been used for at least 12 months. Evidence of the satisfactory conduct of the applicant's current account will be required.

Last updated:

20 April 2017

Defaults (satisfied) potentially accepted

Our standard acceptability

Acceptable

Criteria definition:

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

Our policy notes:

One default, with a total value less than £500, within the last three years subject to being satisfied and a satisfactory explanation provided.

Last updated:

22 May 2017

Defaults (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 defaults registered against their name

Our policy notes:

Unsatisfied defaults are not acceptable

Last updated:

23 May 2017

Defaults registered between 12 to 24 Months

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially accept applicants that have had any Defaults 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 Defaults registered more than 12 months ago and less than 24 months ago.

Last updated:

25 September 2019

Defaults registered between 24 to 36 Months

Our standard acceptability

Potentially Acceptable

Criteria definition:

Indicates if we can potentially accept applicants that have had any Defaults 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 can potentially consider applicants that have had Defaults registered more than 24 months ago and less than 36 months ago.

Last updated:

07 November 2019

Defaults registered between 3 to 12 Months

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially accept applicants that have had any Defaults 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 Defaults registered more than 3 months ago and less than 12 months ago.

Our outside policy allowances:

Defaults registered by mobile phone providers are ignored up to £100.

Last updated:

25 September 2019

Defaults registered in last 3 Months

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially accept applicants that have had any Defaults 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 Defaults registered in the past 3 months.

Last updated:

09 September 2019

Defaults registered over 36 Months ago

Our standard acceptability

Potentially Ignored

Criteria definition:

Indicates if we can potentially ignore Defaults 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 satisfied Defaults that were registered over 36 months ago subject to a satisfactory explanation.

Last updated:

25 September 2019

Discharged Bankrupt (years)

Our standard acceptability

3

Criteria definition:

Indicates if we can accept discharged bankrupts and if so how long a client has to have been discharged for. For example, Mr Smith was made bankrupt 7 years ago and was discharged one year later so has been discharged for 6 years. 

Our policy notes:

We can consider discharged bankrupts as long as they have been discharged at least three years, have no subsequent adverse registered credit and can provide a satisfactory explanation. Please refer these for consideration prior to an application being submitted.

Last updated:

20 April 2017

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.
Edit my local BDM

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.
Edit my local BDM

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.
Edit my local BDM

Your Local BDM:

Grace Bennett

Grace focuses around the West M25 area. Contact Grace for help with your clients' mortgages.
Edit my local BDM

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.
Edit my local BDM

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.
Edit my local BDM

We do not currently have a BDM covering your area. Please contact our Mortgage Helpdesk:

Opening hours: Mon - Fri: 8am - 5.30pm, Sat: 9am - noon

We may record any telephone calls we have with you in the interest of staff training, monitoring customer service or for security purposes.

Edit my local BDM