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.
Not Acceptable
Criteria definition:Indicates if Q Assure Build is an acceptable new build warranty to us on new build properties.
Our policy notes:This is not acceptable.
17 July 2017
Acceptable
Criteria definition:Indicates if Zurich Municipal "New Build" is an acceptable new build warranty to us on new build properties.
This is acceptable.
17 July 2017
Acceptable
Criteria definition:Indicates if we can potentially accept a situation (on a residential basis) whereby an applicant is not selling their related sale property on the same day as the onward purchase. For example, this situation might arise when there is a deadline on a new build purchase and the sale is not quite ready to complete resulting in a non-simultaneous sale and purchase.
Our policy notes:We can only accept these where the applicants have sufficient incomes to service any existing mortgage on their existing property. Any additional borrowing required to fund the deposit on the purchase must be referred.
03 July 2017
1
Criteria definition:Indicates the number of credit reference agencies we may use during the entire application process.
Our policy notes:We currently use Equifax only as our credit search facility.
20 April 2017
150
Criteria definition:Displays the number of days a NEW BUILD mortgage offer is valid for.
Our policy notes:Our offers are valid, as a standard, for five months for discounted products and three months for fixed rates (see our product guide).
05 September 2022
150
Criteria definition:Displays the number of days a standard REMORTGAGE mortgage offer is valid for in DAYS.
Our policy notes:Our offers are valid for five months, as a standard, for discounted products or three months (see our product guide) for fixed rates.
Last updated:05 September 2022
150
Criteria definition:Displays the number of days a STANDARD mortgage offer is valid for.
Our policy notes:Our offers are valid for five months, as a standard, for discounted products or three months for fixed rates (see our product guide) .
05 September 2022
No
Criteria definition:Indicates if we offer residential offset mortgages (subject to product availability).
Our policy notes:Family Building Society does not offset mortgages.
Last updated:27 November 2025
Not Acceptable
Criteria definition:Indicates if we can accept Bursary as an acceptable source of income for affordability purposes.
Our policy notes:We do not accept this as a source of income.
20 April 2017
Acceptable
Criteria definition:Indicates if we can accept foster care income as an allowable income type for affordability purposes. For example, Mr & Mrs Jones receive £20,000 per year in foster care income and wish to apply for a mortgage based upon this income.
Our policy notes:Applicants whose main income is from fostering, and is therefore in essence the Applicant’s business, should be treated as self-employed. Their income must be assessed via their accounts or approved Tax Returns.
15 May 2017
Acceptable
Criteria definition:Indicates if we can potentially accept Income protection/Permanent Health Insurance as an income type.
Our policy notes:Family Building Society can potentially accept Income protection/Permanent Health Insurance as an income type.
Last updated:16 September 2020
Not Acceptable
Criteria definition:Displays if we will potentially accept lodger income as an acceptable source of income for affordability purposes.
Our policy notes:We do not accept this as a source of income.
20 April 2017
Not Acceptable
Criteria definition:Indicates if we can accept maintenance that is by verbal agreement between the separating parties as an acceptable source of income for affordability purposes. Specifically, maintenance that is not via court order, CSA assessment or similar.
Our policy notes:We do not accept this as a source of income.
20 April 2017
Acceptable
Criteria definition:Indicates if we can accept Maintenance (through the courts) as an acceptable source of income for affordability purposes.
Our policy notes:We would accept this source of income providing we can evidence the payments received in the applicant's bank statements plus sight of the court order and this isn't the main source of their income.
03 July 2019
Acceptable
Criteria definition:Indicates if we can consider Seafarer income as an allowable income type
Our policy notes:Family Building Society will consider Seafarer income as an allowable income type
Last updated:15 January 2021
Not Acceptable
Criteria definition:Indicates if we can accept stipend as an allowable income type for affordability purposes.
Our policy notes:We do not accept this as a source of income.
20 April 2017
10
Criteria definition:Indicates the amount you can usually overpay (subject to product availability) without penalty.
Borrowers can overpay up to 10% without penalty.
23 May 2017
Accounts / SA302
Criteria definition:Indicates how a partner, in a professional Limited Liability Partnerships income, will be assessed.
Our policy notes:Family Building Society will assess partners in professional partnership LLPS the same as we assess Self-Employed applicants when assessing income.
Last updated:06 November 2018
24
Criteria definition:Indicates the minimum length of time (IN MONTHS) a person must have been in the Limited Liability Partnership (LLP) for their income to be considered by us.
Our policy notes:Family Building Society has a minimum length of time in the partnership of 24 months.
Our outside policy allowances:It is possible that we would consider a far shorter period than two years where a partner has bought into an existing professional partnership (such as doctors, dentists, solicitors, accountants etc).
Last updated:06 November 2018
Acceptable
Criteria definition:Indicates if we can accept an annuity as an acceptable source of income for affordability purposes.
Our policy notes:We will accept income from annuities as long as they are for life.
03 July 2017
Affordability Calculator
Find out how much your residential client may be able to borrow. To see affordability for a Buy to Let client, use our Buy to Let calculator