Criteria A-Z

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

6

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 although we usually only take 50% of any second job income.

Last updated:

05 June 2025

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