Criteria A-Z

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially consider applicants with recurrent gambling transactions on residential applications

Our policy notes:

Family Building Society will not consider applicants that have recurring gambling transactions

Last updated:

11 September 2020

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially accept a Green Mortgage application.

Our policy notes:

Family Building Society is unable to consider a Green Mortgage application

Last updated:

03 August 2021

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we accept guarantor applications.

Our policy notes:

Normally the Society would require the Borrower’s income to be sufficient to service the proposed new mortgage advance on its own and the application will be required to pass the Society’s affordability test. The Society can however consider applications where a guarantors income is required to support the applicant (or even repay the mortgage) and in circumstances where the Guarantors income is required to service the loan in any way in addition to that of the Borrowers, full verification will be required and the case must pass the affordability test, taking into account any outgoings that the Guarantors may have. Our expectation is that the borrower would be in a position to take on the full mortgage repayments after approximately five years and we would expect them to be in an employment that is likely to lead to that growth in income.

Guarantors should be close family members. i.e. mother, father, brother, sister etc

Last updated:

22 November 2023

Our standard acceptability

Acceptable

Criteria definition:

Indicates if we can potentially consider a reverse guarantor application. A reverse guarantor application is where the guarantor is younger than the applicant. This typically might occur when a son or daughter wishes to help their parents.

Our policy notes:

Family Building Society can potentially consider a reverse guarantor application although we process these under our Joint Mortgage Sole Owner (JMSO) policy.

Last updated:

11 September 2020

Our standard acceptability

Not Acceptable

Criteria definition:

Indicates if we can potentially accept a guarantor application where the applicant is not expecting significant income growth in the future

Our policy notes:

Family Building Society will only consider a guarantor application where significant income growth is expected

Last updated:

11 September 2020