Criteria A-Z

Our standard acceptability:

No (Full Footprint)

Criteria definition:

Indicates if we will leave a 'soft footprint' when performing a credit search (as opposed to leaving a full/hard footprint on the credit file).

Our policy notes:

We use Equifax and we leave a hard footprint.

Last updated:

24 August 2017

Our standard acceptability:

Acceptable

Criteria definition:

Indicates if we are able to potentially accept properties that have had solar panels installed.

Our policy notes:

These are acceptable subject to no onerous terms being contained in the lease agreement if the panels are leased.

Last updated:

17 July 2017

Our standard acceptability:

Acceptable

Criteria definition:

Indicates if we are able to potentially accept applications in sole names where the applicant is married and the husband or wife will also be residing in the property. For example, a couple may wish to keep their financial affairs separate to avoid any unwanted disputes if they were ever to split which is sometimes common when people remarry.

Our policy notes:

For purchase applications where the borrowers are married or a couple who are co-habiting, the mortgage must be applied for in joint names

For remortgage applications, the mortgage should be in joint names unless the existing mortgage is in a sole name, when it will be in order to proceed in sole name if required

Last updated:

06 June 2025

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we can potentially consider applications on a sole application joint proprietor basis. This is where a property will be jointly owned but only one person will be named on the mortgage and is distinctly different to the more common Joint Application Sole Proprietor where only one party would own the property but there are two named on the mortgage.

Our policy notes:

Family Building Society will not consider applications on a sole application joint proprietor basis

Last updated:

11 September 2020

Our standard acceptability:

Acceptable

Criteria definition:

Indicates if we accept builder gifted deposits as an acceptable source of deposit for new build properties.

Our policy notes:

A builder’s deposit is acceptable providing the Borrowers are providing a deposit from their own resources of at least 20%. The Valuer will be required to confirm that the valuation is not affected, and the Solicitor should confirm that the purchase price in the legal documentation matches that on the Society’s Mortgage Offer. Lending will be based on the lower of purchase price or valuation.

Last updated:

17 July 2017

Our standard acceptability:

Acceptable

Criteria definition:

Indicates if we accept applications that are considered a concessionary purchase. Examples of a concessionary purchase are a grandparent selling a property to a grandchild at a genuine discount or a landlord doing the same for a tenant. For example, the property might be worth £150,000 on the open market but the owner is selling it to the buyer for £135,000 with the discount effectively becoming the deposit.

Our policy notes:

We can lend up to 100% of the discounted purchase price or 80% of the value whichever is lower. An indemnity to protect the Society might be required.

Last updated:

11 July 2017

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we can potentially accept cryptocurrencies as an acceptable source of deposit.

Our policy notes:

Family Building Society will not consider this type of deposit.

Last updated:

06 November 2018

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we can potentially accept an equity loan as an acceptable source of deposit.

Our policy notes:

Family Building Society will not consider this type of deposit.

Last updated:

21 June 2022

Our standard acceptability:

Acceptable

Criteria definition:

Indicates if we accept the forces help to buy scheme as an acceptable source of deposit.

Our policy notes:

These are acceptable.

Last updated:

17 July 2017

Our standard acceptability:

Acceptable

Criteria definition:

Indicates if we accept a gift from an immediate family member as an acceptable source of deposit. Immediate family usually means spouse, parent, grandparent, sibling, child or grandchild but you should check to clarify our specific definition.

Our policy notes:

We will accept deposits being gifted.

Last updated:

03 July 2017

Our standard acceptability:

Acceptable

Criteria definition:

Indicates if we accept a gift from an occupier who will not be named on the mortgage. An example of this situation could be whereby two friends or a couple plan to live together and one of them purchases the property and obtains the mortgage where the other party is providing the deposit (as a gift) but will not be named on the mortgage or jointly own the property.

Our policy notes:

This situation is acceptable subject to the occupier signing a form of consent and deed of gift (post offer).

Last updated:

13 May 2019

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we accept a gift as a deposit source outside of immediate family members such as a friend, employer or cousin for example.

Our policy notes:

These are not acceptable.

Last updated:

17 July 2017

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we can accept a loan from an immediate family member as an acceptable source of deposit. 

Our policy notes:

Family Building Society is unable to accept deposits where the source is a loan from immediate family

Last updated:

22 February 2023

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if we accept a loan that is secured against the property as a second charge, no monthly repayments are made and is repayable upon the sale of the property. For example, this situation could arise where parents want to help out a child to purchase a property but do not want to outright gift the money. The parent would place a second charge against the property so that when the property was sold at a later date the loan would be repaid providing there was sufficient equity remaining after any higher ranking charges (a mortgage for example) were repaid.

Our policy notes:

These are not acceptable.

Last updated:

17 July 2017

Our standard acceptability:

Acceptable

Criteria definition:

Indicates if we accept monies raised from the mortgage of an additional property as an acceptable source of deposit. For example, Mr & Mrs Smith want to purchase a new home to live in. The purchase price is £200,000 and they are looking to put down a £50,000 deposit. Their deposit is being raised against another property they own which is Let. 

Our policy notes:

This is acceptable.

Last updated:

17 July 2017

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates if deposits that have originated outside of the European Economic Area (EEA) as an acceptable source of deposit to us.

Our policy notes:

We do not accept funds from sources deposited outside of the EU.

Our outside policy allowances:

If the country the funds are deposited in are FATF compliant the case should be referred for further consideration.

Last updated:

04 July 2025

Our standard acceptability:

Acceptable

Criteria definition:

Indicates whether or not we will accept a redundancy payment as an acceptable source of deposit

Our policy notes:

Family Building Society can potentially accept a redundancy payment as an acceptable source of deposit

Last updated:

25 November 2022

Our standard acceptability:

Acceptable

Criteria definition:

Indicates if we accept the repayment of a limited company directors loan as an acceptable source of deposit. For example, Tom has a limited company that he personally put some money into when setting the company up. He now wishes to take that money back out of the company and use it to fund his deposit.

Our policy notes:

This source of deposit is acceptable.

Last updated:

17 July 2017

Our standard acceptability:

Not Acceptable

Criteria definition:

Indicates whether or not we will accept borrowers source of deposit as a loan. For example, a person is looking to put down a 5% deposit and borrow a 95% mortgage. The 5% deposit is a bank loan.

Our policy notes:

We do not accept deposits that have been borrowed.

Last updated:

20 April 2017

Our standard acceptability:

Acceptable

Criteria definition:

Indicates if we accept vendor gifted deposits as an acceptable source of deposit. (NOT builder gifted deposit for new build properties). For example, John is looking to purchase a property an estate agent is selling and the current owner (not related to the buyer) has offered to help with a deposit by way of a gift.

Our policy notes:

A builder’s or vendor’s deposit is acceptable providing the Borrowers are providing a deposit from their own resources of at least 20%. The Valuer will be required to confirm that the valuation is not affected, and the Solicitor should confirm that the purchase price in the legal documentation matches that on the Society’s Mortgage Offer. Lending will be based on the lower of purchase price or valuation.

Last updated:

17 July 2017