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.
Acceptable
Criteria definition:Indicates if we can accept Pension - War Disablement as an acceptable source of income for affordability purposes.
Our policy notes:This is acceptable.
17 July 2017
Acceptable
Criteria definition:Indicates if we can accept Pension - War Widower as an acceptable source of income for affordability purposes.
Our policy notes:This is acceptable.
17 July 2017
Acceptable
Criteria definition:Displays if we will accept Company Pension as an acceptable source of income for affordability purposes.
Our policy notes:Family Building Society can potentially consider Company Pension as an acceptable source of income for affordability purposes.
Last updated:16 September 2020
Not Acceptable
Criteria definition:Indicates if we can accept Pension Credit as an acceptable source of income for affordability purposes.
Our policy notes:We do not accept benefits as a source of income.
17 July 2017
Acceptable
Criteria definition:Indicates if we can accept Private Pension as an acceptable source of income for affordability purposes.
Our policy notes:We will accept income from a private pension.
03 July 2017
Acceptable
Criteria definition:Indicates if we can consider income from a self-administered drawdown pension.
Our policy notes:Family Building Society can potentially consider self administered drawdown pension income.
The Society's usual stance is to take the SIPP/SASS fund and divide it by the term of the mortgage.
06 November 2018
Acceptable
Criteria definition:Indicates if we can consider income from a Self-invested Personal Pension (SIPPs)
Our policy notes:Family Building Society can potentially accept income from a Self-invested Personal Pension (SIPPs)
Last updated:15 January 2021
Acceptable
Criteria definition:Indicates if we can accept State Pension as an acceptable source of income for affordability purposes.
Our policy notes:We accept 100% of this source of income.
20 April 2017
Acceptable
Criteria definition:Indicates if we can potentially accept residential applications from an applicant that is considered a politically exposed person.
Our policy notes:Family Building Society can potentially consider an applicant that is classed as a politically exposed person.
Last updated:07 November 2019
Yes
Criteria definition:Indicates if our mortgages are usually portable as standard.
Our policy notes:Our products are portable.
23 May 2017
Not Acceptable
Criteria definition:Indicates we can potentially accept residential applications from an applicant that is acting with Power of Attorney.
Our policy notes:Family Building Society will not consider an applicant from someone acting as a power of attorney.
Last updated:09 September 2019
Not Acceptable
Criteria definition:Indicates if we can accept applicants that have previously had a property repossessed and if so how many years ago we require the repossession to have taken place.
Our policy notes:Unfortunately, we are unable to lend to any borrower who has been previously repossessed.
23 October 2017
Not Acceptable
Criteria definition:Indicates if we can potentially consider an application from a professional gambler on residential applications
Our policy notes:Family Building Society will not consider an application from a professional gambler
Last updated:11 September 2020
Acceptable
Criteria definition:Indicates if we can potentially accept professional landlords where their primary income source is from the rent from their portfolio. For example, Jess wants to obtain a mortgage and her only source of income (or her main source of income) is derived from the rent she receives from her portfolio of rental properties.
Our policy notes:Family Building Society can potentially accept professional landlords who wish to use rental income as their primary income source
Last updated:23 October 2017
Not Acceptable
Criteria definition:Indicates if we can potentially lend on a property where there is evidence of asbestos present.
Our policy notes:Family Building Society does NOT lend on properties where Asbestos is identified.
Last updated:23 October 2017
Not Acceptable
Criteria definition:Indicates if we can consider lending on a property with occupancy restrictions
Our policy notes:Family Building Society will not consider an application on a property with occupancy restrictions
Last updated:11 January 2021
Acceptable
Criteria definition:Indicates if we can potentially consider an application where the property will be purchased at auction
Our policy notes:Family Building Society can consider an application where the property will be purchased at auction
Last updated:16 September 2020
Not Acceptable
Criteria definition:Indicates if we are able to potentially accept 100% timber construction properties - this is NOT the same as timber-framed.
Our policy notes:These are not acceptable.
17 July 2017
No
Criteria definition:Indicates if BOPAS accreditation is required for non-standard construction where the non-standard construction type is acceptable to us
Our policy notes:Family Building Society does not require BOPAS accreditation for non-standard construction where the construction type is acceptable to us
Last updated:16 September 2020
Not Acceptable
Criteria definition:Indicates if we can potentially consider properties where the construction type is British Iron and Steel Federation (BISF)
Our policy notes:Family Building Society will not lend on properties where the construction type is British Iron and Steel Federation (BISF)
Last updated:11 September 2020
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