Criteria A-Z

Our standard acceptability

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

Our standard acceptability

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

Our standard acceptability

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

Our standard acceptability

Not Acceptable

Criteria definition:

Specifies if we can accept shared ownership applications.

Our policy notes:

We do not currently accept shared ownership applications.

Last updated:

20 April 2017

Our standard acceptability

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.

Last updated:

20 April 2017

Our standard acceptability

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.

Last updated:

20 April 2017

Our standard acceptability

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.

Last updated:

03 July 2017

Our standard acceptability

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

Our standard acceptability

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

Our standard acceptability

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

Our standard acceptability

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

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