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.
Our standard acceptability
100+
Criteria definition:
Indicates the maximum potential debt to income (DTI) ratio we might accept. For example, an applicant has outstanding unsecured debts of £26,000 and a salary of £40,000. Therefore their DTI is 65%. This criteria indicates if we have a maximum and if so what it is.
Our policy notes:
The Society does not have a maximum debt to income ratio.
Last updated:
12 November 2018
Our standard acceptability
0.25
Criteria definition:
Indicates if we have a maximum threshold, and if so what it is, that the ground rent on a leasehold property cannot exceed measured against the property value. For example, Applicant 'A' is purchasing a leasehold flat valued at £100,000 that has a ground rent payable annually of £100. This ground rent equates to 0.1% of the property value. Lender 'A' has no maximum threshold on ground rents and therefor Applicant 'A' is able to proceed with a mortgage application on this property.
Our policy notes:
Family Building Society can potentially consider applications on leasehold properties so long as the ground rent is no more than 0.25% of the property value.
Last updated:
07 November 2019
Our standard acceptability
No Maximum
Criteria definition:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so what our maximum loan size is for Retirement Interest Only (RIO) applications.
Our policy notes:
The Society's standard maximum loan amounts and LTVs apply.
Last updated:
03 March 2020
Our standard acceptability
80
Criteria definition:
Indicates if we can consider Interest Only lending on residential mortgages and if so up to what loan to value (LTV). Take care to check other factors such as:
- Is there a minimum equity requirement?
- Is their a minimum income requirement?
- Is there a minimum property valuation?
- Is the repayment vehicle acceptable to us?
- Can any borrowing over the stated max LTV be taken on a repayment basis?
Our policy notes:
The Society will lend up to 80% LTV on an interest only basis with an acceptable repayment strategy.
Last updated:
17 March 2022
Our standard acceptability
50
Criteria definition:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so what is the maximum loan to value (LTV) for Retirement Interest Only (RIO) purchase applications.
Our policy notes:
The Society's maximum loan to value for RIO mortgages is 50% LTV.
Last updated:
03 March 2020
Our standard acceptability
50
Criteria definition:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so what is the maximum loan to value (LTV) for Retirement Interest Only (RIO) remortgage applications where there is no element of capital raising and it is a simple balance swap.
Our policy notes:
The maximum LTV is 50%.
Last updated:
03 March 2020
Our standard acceptability
50
Criteria definition:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so what is the maximum loan to value (LTV) for Retirement Interest Only (RIO) remortgage applications where there is additional capital being raised.
Our policy notes:
The maximum LTV is 50%
Last updated:
03 March 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept residential applications from an applicant who has mortgage arrears in the past 2 years and if so what is the maximum number of missed payments in the past 2 years that can be accepted.
Our policy notes:
Family Building Society will not consider applicants with any mortgage arrears in the previous 24 months.
Last updated:
09 September 2019
Our standard acceptability
4
Criteria definition:
Indicates the maximum number of applicants able to go on a mortgage application.
Our policy notes:
We can consider applications for up to four applicants.
Last updated:
20 April 2017
Our standard acceptability
4
Criteria definition:
Indicates how many applicants we can factor into the affordability calculation.
Our policy notes:
We will accept up to four applicants on a mortgage application and will consider incomes from all.
Last updated:
03 July 2017
Our standard acceptability
3
Criteria definition:
Indicates if we can consider residential applications from applicants with previously satisfied CCJs and if so what the maximum allowable number registered against an applicant is. For example, applicant 'A' has 3 previously satisfied CCJs in the past 6 years and Lender 'A' says the maximum number they will allow is 2 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total value and other adverse credit.
Our policy notes:
Family Building Society can consider applicants with up to three satisfied CCJs.
Last updated:
07 November 2019
Our standard acceptability
0
Criteria definition:
Indicates if we can consider residential applications from with unsatisfied CCJs and if so what the maximum allowable number registered against an applicant is. For example, applicant 'A' has 3 previously unsatisfied CCJs in the past 6 years and Lender 'A' says the maximum number they will allow is 2 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total value and other adverse credit.
Our policy notes:
Family Building Society will not consider applicants with unsatisfied CCJs.
Last updated:
29 September 2023
Our standard acceptability
1
Criteria definition:
Indicates if we can consider residential applications from applicants with previously satisfied Defaults and if so what the maximum allowable number registered against an applicant is. For example, applicant 'A' has 3 previously satisfied Defaults in the past 6 years and Lender 'A' says the maximum number they will allow is 2 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total value and other adverse credit.
Our policy notes:
Family Building Society can consider applicants with up to 1 satisfied Default that relate to a utility or communication supplier.
Last updated:
21 November 2019
Our standard acceptability
0
Criteria definition:
Indicates if we can consider residential applications from with unsatisfied Defaults and if so what the maximum allowable number registered against an applicant is. For example, applicant 'A' has 3 previously unsatisfied Defaults in the past 6 years and Lender 'A' says the maximum number they will allow is 2 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total value and other adverse credit.
Our policy notes:
Family Building Society will not consider applicants with unsatisfied Defaults.
Last updated:
23 March 2023
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates the maximum number of stories we can consider when lending on ex-local authority high rise flats.
Our policy notes:
We do not lend on ex-local authority flats/maisonettes.
Last updated:
03 July 2017
Our standard acceptability
4
Criteria definition:
Indicates the maximum number of stories we can consider when lending on high rise flats.
Our policy notes:
The maximum number of floors we can consider is four stories although we can consider lending on flats in blocks with more floors but these should be referred individually before application submission.
Our outside policy allowances:
We can consider lending on properties five stories and above but these need to be referred.
Last updated:
06 November 2018
Our standard acceptability
5
Criteria definition:
Indicates the maximum number of storeys we can consider when lending on flats when there is no lift access.
Our policy notes:
Family Building Society will only consider flats with no lift access up to five storeys
Last updated:
16 September 2020
Our standard acceptability
40
Criteria definition:
Indicates the maximum term a mortgage can be taken over.
Our policy notes:
Our maximum term is 40 years. However, the actual maximum term is linked to the oldest applicant's age. Please refer to our website for more information.
Last updated:
03 May 2022
Our standard acceptability
No Maximum
Criteria definition:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so what is the maximum term for Retirement Interest Only (RIO) applications. Lenders do not have to set a fixed term for the mortgage and so the repayment date can be when the borrower dies or goes into care, as with Lifetime Mortgages.
Our policy notes:
Family Building Society does not have a maximum term. Please see our minimum and maximum age policy.
Last updated:
03 March 2020
Our standard acceptability
Not Acceptable
Criteria definition:
Indicates if we can potentially accept residential applications from an applicant who has unsecured arrears in the past 2 years and if so what is the maximum number of missed payments in the past 2 years that can be accepted.
Our policy notes:
Family Building Society will not consider applicants with any unsecured arrears in the previous 24 months.
Last updated:
09 September 2019
Our standard acceptability
500
Criteria definition:
Indicates if we can potentially consider residential applications from applicants with previously satisfied CCJs and if so what the maximum allowable value of all registered against an applicant is. For example, applicant 'A' has 3 previously satisfied CCJs in the past 6 years totaling £1,230 and Lender 'A' says the maximum value they will allow is £500 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total number registered and other adverse credit registered against the applicant.
Our policy notes:
Family Building Society can consider applicants with satisfied CCJs.
Last updated:
07 November 2019
Our standard acceptability
No Maximum
Criteria definition:
Indicates if we can consider residential applications from applicants with unsatisfied CCJs and if so what the maximum allowable value of all registered against an applicant is. For example, applicant 'A' has 3 unsatisfied CCJs in the past 6 years totaling £1,230 and Lender 'A' says the maximum value they will allow is £500 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total number registered and other adverse credit registered against the applicant.
Our policy notes:
Family Building Society will not consider applicants with unsatisfied CCJs.
Last updated:
04 November 2021
Our standard acceptability
500
Criteria definition:
Indicates if we can potentially consider residential applications from applicants with previously satisfied Defaults and if so what the maximum allowable value of all registered against an applicant is. For example, applicant 'A' has 3 previously satisfied Defaults in the past 6 years totaling £1,230 and Lender 'A' says the maximum value they will allow is £500 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total number registered and other adverse credit registered against the applicant.
Our policy notes:
Family Building Society can consider applicants with satisfied Defaults up to a maximum value of £500 that relate to a utility or communications supplier.
Last updated:
21 November 2019
Our standard acceptability
0
Criteria definition:
Indicates if we can potentially consider residential applications from applicants with unsatisfied Defaults and if so what the maximum allowable value of all registered against an applicant is. For example, applicant 'A' has 3 unsatisfied Defaults in the past 6 years totaling £1,230 and Lender 'A' says the maximum value they will allow is £500 registered on the applicants credit file. Therefore applicant 'A' would be unable to apply for a mortgage with Lender 'A' at this time. Other factors may also be factored in such as (but no limited to) total number registered and other adverse credit registered against the applicant.
Our policy notes:
Family Building Society will not consider applicants with unsatisfied Defaults.
Last updated:
23 March 2023
Our standard acceptability
No Minimum
Criteria definition:
Indicates if we have a minimum income requirement for residential mortgage applications and if so what it is.
Our policy notes:
Family Building Society does not have a minimum income requirement.
Last updated:
31 January 2018
Our standard acceptability
24
Criteria definition:
Indicates if we can consider income from secondary employment 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 can consider applicants secondary employment subject to a minimum of 24 months in the role although we usually only take 50% of any second job income.
Last updated:
25 September 2019
Our standard acceptability
45000
Criteria definition:
Indicates the minimum loan size (if there is one) that we accept for new applications.
Our policy notes:
Our minimum loan is £45,000
Last updated:
20 April 2017
Our standard acceptability
45000
Criteria definition:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so what the minimum loan requirement for Retirement Interest Only (RIO) applications is.
Our policy notes:
The Society's minimum loan for RIO mortgages is the same as standard mortgages.
Last updated:
03 March 2020
Our standard acceptability
We do not lend on Ex Local Authority Flats
Criteria definition:
Indicates if we can potentially lend on a ex-local authority flat/apartments and if so is there a minimum percentage in the block that must be privately owned.
Our policy notes:
Family Building Society won't lend on ex-local authority flats.
Last updated:
18 September 2019
Our standard acceptability
2
Criteria definition:
Indicates the minimum period (in months) any background properties that are Let or to be Let must have been Let for before they can potentially be discounted from a commitment point of view for affordability purposes.
Our policy notes:
We state that the property needs to be let either on or shortly after the completion of the mortgage. Although we don't stipulate exactly how long that is we would normally expect the property to be let within a month or two of completion.
Last updated:
03 July 2017
Our standard acceptability
120000
Criteria definition:
Indicates if we have a minimum property value we require for new applications.
Our policy notes:
Our minimum property value is £120,000.
Last updated:
03 July 2017
Our standard acceptability
120000
Criteria definition:
This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so if we have a minimum property value requirement.
Our policy notes:
The Society's standard minimum property value is £120,000 which also applies to RIO mortgages.
Last updated:
03 March 2020
Our standard acceptability
55
Criteria definition:
Indicates the minimum required lease remaining at the date of application we can potentially accept. For example,
Our policy notes:
The Society doesn't have a minimum lease term at application but the minimum is 50 years unexpired at the end of the mortgage term (with the minimum mortgage term being five years).
Our outside policy allowances:
We can consider shorter leases where the purpose of the remortgage is to extend the lease on completion.
Last updated:
23 July 2019
Our standard acceptability
50
Criteria definition:
Indicates the minimum required lease remaining at the end of the mortgage term we can potentially accept. For example, Alex is looking to purchase a flat which currently has a remaining lease term of 90 years and wishes to take out a mortgage over 20 years. Therefore his remaining lease at the end of the mortgage term will be 70 years (90-20=70).
Our policy notes:
The Society requires an unexpired lease of 50 years at the end of the term of the mortgage.
Last updated:
02 August 2018
Our standard acceptability
5
Criteria definition:
Indicates the minimum term a mortgage can be taken over.
Our policy notes:
Our minimum term is 5 years.
Last updated:
20 April 2017
Our standard acceptability
6
Criteria definition:
Indicates if we have a minimum requirement that an applicant must have been an owner occupier for (in MONTHS) in order to be considered for a residential mortgage.
Our policy notes:
Family Building Society requires applicants to have been an owner occupier for at least 6 months.
Last updated:
07 November 2019
Our standard acceptability
24
Criteria definition:
Indicates if we can potentially ignore mortgage arrears that are historic and if so at what point they can potentially be ignored when assessing residential mortgage applications.
Our policy notes:
Family Building Society can potentially ignore previous mortgage arrears that are older than 24 months old subject to a satisfactory explanation.
Last updated:
25 September 2019
Affordability Calculator
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Find Your Local
Business Development Manager
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Sam Morrison
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Neil Cadwallader
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Stuart Heavens
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Amar Mashru
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Arif Kara
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Grace Bennett
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Darren Deacon
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Paul Roberts
We do not currently have a BDM covering your area. Please contact our Mortgage Helpdesk:
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