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.
We do not currently offer Self Build mortgages
Criteria definition:Indicates if we make advanced payments or payments in arrears for self build mortgages
Our policy notes:Family Building Society does not currently offer self-build mortgages.
Last updated:02 March 2020
We do not currently offer Self Build mortgages
Criteria definition:Indicates if a fee payable for each stage release on a self build application
Our policy notes:Family Building Society does not currently offer self-build mortgages.
Last updated:21 March 2021
We do not currently offer Self Build mortgages
Criteria definition:Indicates the retention percentage we will retain until completion of the build
Our policy notes:Family Building Society does not currently offer self-build mortgages.
Last updated:28 February 2020
We do not currently offer Self Build mortgages
Criteria definition:Indicates if we will base the valuation fee on the value of the land or estimated final value of the build
Our policy notes:Family Building Society does not currently offer self-build mortgages.
Last updated:28 February 2020
Not Acceptable
Criteria definition:Specifies if we can accept shared ownership applications.
Our policy notes:We do not currently accept shared ownership applications.
20 April 2017
We do not accept shared ownership applications
Criteria definition:Indicates if we offer shared ownership mortgages and if so what is the maximum initial share we permit for a shared ownership case.
Our policy notes:We do not currently accept applications for shared ownership.
20 April 2017
Not Acceptable
Criteria definition:Indicates if we offer shared ownership mortgages and if so what is the maximum loan to value we can lend on the share the applicant is purchasing on a shared ownership basis.
Our policy notes:We do not currently accept shared ownership applications.
20 April 2017
We do not accept shared ownership applications
Criteria definition:Indicates if we offer shared ownership mortgages and if so what is the minimum share we permit for shared ownership cases.
Our policy notes:Currently, we do not lend on shared ownership.
03 July 2017
We do not accept shared ownership applications
Criteria definition:Indicates if we can potentially consider a shared ownership application with capital raising for home improvements
Our policy notes:Family Building Society does not accept Shared Ownership applications.
Last updated:11 September 2020
Not Acceptable
Criteria definition:Indicates if we can potentially consider residential applications for Shared Ownership cases that have a restricted staircasing clause.
Our policy notes:Family Building Society will not consider applications on shared ownership properties that have a restricted staircasing clause
Last updated:09 September 2019
Not Available
Criteria definition:Indicates if we offer Sharia compliant residential mortgages.
Our policy notes:Family Building Society does not offer Sharia compliant mortgages.
Last updated:09 September 2019
Not Acceptable
Criteria definition:Indicates if we can potentially accept a residential application where there will be a simultaneous completion of a second charge.
Our policy notes:Family Building Society will not consider applications where there will be a simultaneous completion of a second charge.
Last updated:07 November 2019
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.
24 August 2017
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.
17 July 2017
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
06 June 2025
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
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.
17 July 2017
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.
11 July 2017
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
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
Affordability Calculator
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