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.

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Owner Occupier Criteria
Employment : Zero Hours Contract Minimum Time in Position (in Months)

Our standard acceptability

24

Criteria definition:

Indicates if we can consider income from a zero hours contract and if so what is the minimum requirement (in MONTHS) that the applicant must have held the position for.

Our policy notes:

Family Building Society requires applicants to have been in a zero hours contract for at least 24 Months.

Last updated:

26 November 2019

Employment Income: Additional Duty Hours

Our standard acceptability

Acceptable

Criteria definition:

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

Our policy notes:

As long as this source of income is regular and can be evidenced in payslips we will accept 50%.

Last updated:

03 July 2017

Employment Income: Additional Responsibility Allowance

Our standard acceptability

Acceptable

Criteria definition:

Displays if we will accept Additional Responsibility Allowance as an acceptable source of income for affordability purposes.

Our policy notes:

100% of this source of income can be taken.

Last updated:

17 July 2017

Employment Income: Bonus (Annual)

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept annual bonus as an allowable income type for affordability purposes.

Our policy notes:

We are able to take 50% of regular bonus (as long as we can see it is a regular feature of the employment). There is flexibility to take more if the employment justifies it. Please refer cases where more than 50% is required.

Last updated:

08 May 2017

Employment Income: Bonus (Half Yearly)

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept half-yearly bonus as an allowable income type for affordability purposes. 

Our policy notes:

We are able to take 50% of regular bonus (as long as we can see it is a regular feature of the employment). There is flexibility to take more if the employment justifies it. Please refer cases where more than 50% is required.

Last updated:

08 May 2017

Employment Income: Bonus (Monthly)

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept monthly bonus as an allowable income type for affordability purposes.

Our policy notes:

We are able to take 50% of regular bonus (as long as we can see it is a regular feature of the employment). There is flexibility to take more if the employment justifies it. Please refer cases where more than 50% is required.

Last updated:

08 May 2017

Employment Income: Bonus (Quarterly)

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept quarterly bonus as an allowable income type for affordability purposes. 

Our policy notes:

We are able to take 50% of regular bonus (as long as we can see it is a regular feature of the employment). There is flexibility to take more if the employment justifies it. Please refer cases where more than 50% is required.

Last updated:

08 May 2017

Employment Income: Car Allowance

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept car allowance as an allowable income type for affordability purposes. 

Our policy notes:

We would accept 100% of this source of income.

Last updated:

20 April 2017

Employment Income: Commission (annual)

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept annual commission as an acceptable source of income for affordability purposes.

Our policy notes:

We are able to take 50% of regular commission (as long as we can see it is a regular feature of the employment). There is flexibility to take more if the employment justifies it. Please refer cases where more than 50% is required.

If we can see consistently high levels of commission are worked then we may look to take more than 50%. It is recommended that these cases are referred prior to submission and the last two year's P60s are provided in addition to the last three month's payslips.

Last updated:

08 May 2017

Employment Income: Commission (half yearly)

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept half-yearly commission as an acceptable source of income for affordability purposes.

Our policy notes:

We are able to take 50% of regular commission (as long as we can see it is a regular feature of the employment). There is flexibility to take more if the employment justifies it. Please refer cases where more than 50% is required.

If we can see consistently high levels of commission are worked then we may look to take more than 50%. It is recommended that these cases are referred prior to submission and the last two year's P60s are provided in addition to the last three month's payslips.

Last updated:

08 May 2017

Employment Income: Commission (monthly)

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept monthly Commission as an acceptable source of income for affordability purposes.

Our policy notes:

Providing we can see this is a regular source of income we will take up to 50%.

Last updated:

03 July 2017

Employment Income: Commission (quarterly)

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept quarterly commission as an acceptable source of income for affordability purposes.

Our policy notes:

Providing we can see this is a regular source of income we will take up to 50%.

Last updated:

03 July 2017

Employment Income: Employers Housing Allowance

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept Employers Housing Allowance as an acceptable source of income for affordability purposes.

Our policy notes:

If we can see this is a guaranteed source of income we will take 100%.

Last updated:

03 July 2017

Employment Income: Employers Mortgage Subsidy

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept Employers Mortgage Subsidy as an acceptable source of income for affordability purposes.

Our policy notes:


We will take 100% of this source of income.

Last updated:

17 July 2017

Employment Income: Employment Income from Family Business

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept Employment Income from Family Business as an acceptable source of income for affordability purposes.

Our policy notes:

Employed income from a family business is acceptable subject to confirmation of the income from the external accountant.

Last updated:

17 July 2017

Employment Income: Flight Pay

Our standard acceptability

Acceptable

Criteria definition:

Displays if we will accept Flight Pay as an acceptable source of income for affordability purposes.

Our policy notes:

Family Building Society can potentially consider Flight Pay as an acceptable source of income for affordability purposes.

Last updated:

16 September 2020

Employment Income: Foreign currency

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept Foreign currency as an acceptable source of income for affordability purposes.

Our policy notes:

We accept employed incomes paid in a foreign currency so long as the mortgage application is on an interest only basis.

Last updated:

30 June 2017

Employment Income: Large Town Allowance

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept Large Town Allowance as an acceptable source of income for affordability purposes.

Our policy notes:

We can take 100% of guaranteed income.

Last updated:

08 May 2017

Employment Income: London Weighting

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept London Weighting as an acceptable source of income for affordability purposes.

Our policy notes:

We would accept 100% of this source of income. Evidence of this would need to be evident in payslips or an employment reference.

Last updated:

20 April 2017

Employment Income: Mileage Allowance

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we are able to potentially accept mileage allowance an applicant receives from his/her employer as part of the affordability assessment.

Our policy notes:

Family Building Society does not accept mileage allowance as an acceptable source of income for affordability purposes.

Last updated:

10 May 2018

Employment Income: Overtime (less than monthly)

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept overtime which is paid less frequently than monthly (for example quarterly) as an acceptable source of income for affordability purposes.

Our policy notes:

We are able to take 50% of regular overtime (as long as we can see it is a regular feature of the employment). There is flexibility to take more if the employment justifies it. Please refer cases where more than 50% is required.

If we can see consistently high levels of overtime are worked then we may look to take more than 50%. It is recommended that these cases are referred prior to submission and the last two year's P60s are provided in addition to the last three month's payslips.

Last updated:

08 May 2017

Employment Income: Overtime (weekly or monthly)

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept monthly or less overtime as an acceptable source of income for affordability purposes.

Our policy notes:

We are able to take 50% of regular overtime (as long as we can see it is a regular feature of the employment). There is flexibility to take more if the employment justifies it. Please refer cases where more than 50% is required.

If we can see consistently high levels of overtime are worked then we may look to take more than 50%. It is recommended that these cases are referred prior to submission and the last two year's P60s are provided in addition to the last three month's payslips.

Last updated:

08 May 2017

Employment Income: Parental/Maternity leave pay (back to work salary)

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept the client's full salary when they return to work after Parental/Maternity leave pay.

Our policy notes:

Acceptable subject to a check being made to ensure that the Applicant has statutory rights to return to work, and has a stated intention to do so. Confirmation will need to be obtained of the Applicant’s ability to service the mortgage repayments during the period of leave, e.g., what income will be received, or evidence of savings. Subject to the above proving satisfactory, income may be taken into consideration in the usual way.

Last updated:

11 July 2017

Employment Income: Salary (paid cash in hand)

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept salary paid in cash as an allowable income type for affordability purposes. For example, Mr Jones works as a fruit picker on the local farm and is paid weekly in cash.

Our policy notes:

Although we expect most incomes to be paid into personal accounts we accept that some jobs may still receive cash in hand. As there is less of an audit trail we are more cautious when assessing this type of income.

Last updated:

08 May 2017

Employment Income: Second Job

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept income from a second job as an acceptable source of income for affordability purposes.

Our policy notes:

50% of income from second job, providing the Applicant has been in the job for at least six months and is permanently employed.

Last updated:

17 July 2017

Employment Income: Shift Allowance

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept Shift Allowance as an acceptable source of income for affordability purposes.

Our policy notes:

Providing this is a regular source of income we will take up to 50%.

Last updated:

03 July 2017

Employment Income: Standby / Call Out

Our standard acceptability

Acceptable

Criteria definition:

Displays if we will accept Standby / Call Out as an acceptable source of income for affordability purposes.

Our policy notes:

Family Building Society can potentially consider Standby / Call Out as an acceptable source of income for affordability purposes.

Last updated:

16 September 2020

Employment Income: Supply Teacher

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can accept Supply Teacher income as an acceptable source of income for affordability purposes.

Our policy notes:

Family Building Society can potentially accept supply teacher income for affordability purposes.

Last updated:

10 May 2018

Employment Income: Tronc Payments (Tips etc)

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can potentially consider tronc payments (Tips etc) as an allowable income type when assessing affordability on residential applications.

Our policy notes:

Family Building Society can potentially accept applicants that receive tronc payments (tips etc) when assessing affordability.

Last updated:

07 November 2019

Employment: CIS Contractor Assessment

Our standard acceptability

Treated as Self Employed

Criteria definition:

Indicates how we assesses CIS contractor income which will either be on a self employed basis or based on the CIS vouchers

Our policy notes:

Family Building Society will treat as self employed when assessing affordability of a CIS contractor

Last updated:

11 September 2020

Employment: Contractors Minimum Experience Requirement (Months)

Our standard acceptability

24

Criteria definition:

Indicates if we have a general 'minimum contracting experience requirement' threshold for contractors that must be met in order for their income to be considered.

Our policy notes:

Family Building Society has a minimum experience requirement for contractors of 24 months.

Last updated:

07 November 2018

Employment: Contractors Weekly Multiplier for Income Assessment

Our standard acceptability

48

Criteria definition:

Indicates how we assess contractor income which will either be on a self-employed basis or based on the contractor's day rate indicated by a weekly multiplier. For example 'Lender A' will calculate a contractor's income based on the weekly amount * 48 where '48' indicates the weekly multiplier and 'Lender B' will treat them as self-employed and income will be assessed in line with their self-employed policy. 

Our policy notes:

We can consider contractor workers who are self-employed (possibly via their own limited company) using a multiple of their weekly contract rate or simply taking their income via their accounts/SA302s.

Last updated:

23 October 2017

Employment: Employed with Voluntary Breaks

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we are able to potentially accept a situation whereby someone is employed but takes an unpaid break from employment for a period greater than what would constitute a holiday. For example, John works 9 months of the year in an office job but in June, July and August each year he takes 3 months off in order to pursue other things (for example a seasonal second job or charity work). After the break, he returns to his office job.

Our policy notes:

We normally only accept breaks that do not exceed two weeks.

Last updated:

23 May 2017

Employment: Minimum length of time employed (months)

Our standard acceptability

0

Criteria definition:

Specifies if there is a minimum number of months (if so how many) employed applicants must have been continuously employed for their income to be considered in affordability.

Our policy notes:

We have no minimum period of employment although we ask for three year's history. We would be concerned if we could see employment changing frequently within that period. We would normally expect any probationary period to have been completed before we consider a mortgage application.

Last updated:

23 May 2017

Employment: Minimum length of time in current job (months)

Our standard acceptability

0

Criteria definition:

Specifies if there is a minimum length of time a person must have been in their current job and if so how many months. 

Our policy notes:

We have no minimum period in their current job although we would normally expect that they have completed any probationary period before an application was submitted.

Last updated:

23 May 2017

Employment: Pending new job salary accepted

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially use an applicants salary for a job they have yet to start when assessing affordability.

Our policy notes:

We would not normally consider an income from a wholly new job prior to it's start.

Last updated:

23 May 2017

Employment: Pending pay rise accepted

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can potentially accept an applicants salary who are set to get a pay rise in the near future. For example, Sally is currently earning a salary of £20,000 but this will be increasing to £22,000 in a couple of months. 

Our policy notes:

We can consider payrises providing they can be evidenced and are normally to occur within the next three months.

Last updated:

22 May 2017

Employment: Probationary Period

Our standard acceptability

Not Acceptable

Criteria definition:

Specifies if we will allow a clients income to be considered for affordability if they are in a probationary period.

Our policy notes:

We would normally expect an applicant's probationary period to have been completed prior to submitting an application.

Last updated:

23 May 2017

Escalating Ground Rents

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can potentially lend on residential applications for leasehold properties that have an escalating ground rent clause.

Our policy notes:

Family Building Society can potentially consider lending on leasehold properties where an escalating ground rent clause exists.

Last updated:

09 September 2019

Estate Rentcharges

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can potentially lend on residential applications for freehold properties where 'Estate Rent Charge' clauses exist.

Our policy notes:

Family Building Society can potentially consider lending on freehold properties where exists an estate charge for the general upkeep and maintenance of any shared areas.

Last updated:

09 September 2019

Expat Residential Mortgage

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can potentially consider residential applications from expatriate applicants.

Our policy notes:

We can accept applications from expatriates from a restricted list of countries, as follows:

Austria, Barbados, Belgium, Bulgaria, Canada, Cyprus, Czech Republic, Denmark, Estonia, Finland, France (including Mayotte, New Caledonia, French Polynesia, Saint Pierre and Miquelon and Wallis and Futuna) , Germany, Greece, Hong Kong, Hungary, Ireland, Israel, Italy, Japan, Kingdom of the Netherlands (The Netherlands, Aruba, Curacao, Sint Maarten, Bonaire, Sint Eustatius and Saba), Latvia, Liechenstein, Lithuania, Luxembourg, Malta, Malaysia, New Zealand, Norway, Poland, Portugal, Romania, Singapore, Slovak Republic, Slovenia, South Korea, Spain, Sweden, Switzerland, United Kingdom (including UK Crown Dependencies), and United States.

A note for our packager partners
In addition, the Society has agreed a policy through our packager partners for lending to expats in China, India, Monaco, Oman, Kuwait, Qatar, Saudi Arabia, South Africa, and United Arab Emirates on an exceptional basis, but will be subject to an additional requirement:

•The monthly mortgage payments should be made from a UK bank account from where any rental payments are received.

We will also consider applications through our packager partners for lending to expats in China, India, Monaco, Oman, Saudi Arabia and South Africa, subject to stricter requirements including:
•Any deposit monies are paid from or evidenced as held within a UK bank account
•Applicants must be working for recognised large organisations that have a UK presence.

Last updated:

27 May 2020

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