Criteria A-Z

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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