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 we can consider an application on the Discount Market Scheme
Our policy notes:Family Building Society is unable to accept applications on the Discount Market Scheme
Last updated:15 January 2021
24
Criteria definition:Indicates if we can consider income from a zero hours contract and if so what is the minimum requirement (in MONTHS) that the applicant must have held the position for.
Our policy notes:Family Building Society requires applicants to have been in a zero hours contract for at least 24 Months.
Last updated:26 November 2019
Acceptable
Criteria definition:Displays if we will accept Additional Duty Hours as an acceptable source of income for affordability purposes.
Our policy notes:As long as this source of income is regular and can be evidenced in payslips we will accept 50%.
03 July 2017
Acceptable
Criteria definition:Displays if we will accept Additional Responsibility Allowance as an acceptable source of income for affordability purposes.
Our policy notes:100% of this source of income can be taken.
17 July 2017
Acceptable
Criteria definition:Indicates if we can accept annual bonus as an allowable income type for affordability purposes.
Our policy notes:We are able to take 50% of regular bonus (as long as we can see it is a regular feature of the employment). There is flexibility to take more if the employment justifies it. Please refer cases where more than 50% is required.
08 May 2017
Acceptable
Criteria definition:Indicates if we can accept half-yearly bonus as an allowable income type for affordability purposes.
Our policy notes:We are able to take 50% of regular bonus (as long as we can see it is a regular feature of the employment). There is flexibility to take more if the employment justifies it. Please refer cases where more than 50% is required.
08 May 2017
Acceptable
Criteria definition:Indicates if we can accept monthly bonus as an allowable income type for affordability purposes.
Our policy notes:We are able to take 50% of regular bonus (as long as we can see it is a regular feature of the employment). There is flexibility to take more if the employment justifies it. Please refer cases where more than 50% is required.
08 May 2017
Acceptable
Criteria definition:Indicates if we can accept quarterly bonus as an allowable income type for affordability purposes.
Our policy notes:We are able to take 50% of regular bonus (as long as we can see it is a regular feature of the employment). There is flexibility to take more if the employment justifies it. Please refer cases where more than 50% is required.
08 May 2017
Acceptable
Criteria definition:Indicates if we can accept car allowance as an allowable income type for affordability purposes.
Our policy notes:We would accept 100% of this source of income.
20 April 2017
Acceptable
Criteria definition:Indicates if we can accept annual commission as an acceptable source of income for affordability purposes.
Our policy notes:We are able to take 50% of regular commission (as long as we can see it is a regular feature of the employment). There is flexibility to take more if the employment justifies it. Please refer cases where more than 50% is required.
If we can see consistently high levels of commission are worked then we may look to take more than 50%. It is recommended that these cases are referred prior to submission and the last two year's P60s are provided in addition to the last three month's payslips.
08 May 2017
Acceptable
Criteria definition:Indicates if we can accept half-yearly commission as an acceptable source of income for affordability purposes.
Our policy notes:We are able to take 50% of regular commission (as long as we can see it is a regular feature of the employment). There is flexibility to take more if the employment justifies it. Please refer cases where more than 50% is required.
If we can see consistently high levels of commission are worked then we may look to take more than 50%. It is recommended that these cases are referred prior to submission and the last two year's P60s are provided in addition to the last three month's payslips.
08 May 2017
Acceptable
Criteria definition:Indicates if we can accept monthly Commission as an acceptable source of income for affordability purposes.
Our policy notes:Providing we can see this is a regular source of income we will take up to 50%.
03 July 2017
Acceptable
Criteria definition:Indicates if we can accept quarterly commission as an acceptable source of income for affordability purposes.
Our policy notes:Providing we can see this is a regular source of income we will take up to 50%.
03 July 2017
Acceptable
Criteria definition:Indicates if we can accept Employers Housing Allowance as an acceptable source of income for affordability purposes.
Our policy notes:If we can see this is a guaranteed source of income we will take 100%.
03 July 2017
Acceptable
Criteria definition:Indicates if we can accept Employers Mortgage Subsidy as an acceptable source of income for affordability purposes.
Our policy notes:
We will take 100% of this source of income.
17 July 2017
Acceptable
Criteria definition:Indicates if we can accept Employment Income from Family Business as an acceptable source of income for affordability purposes.
Our policy notes:Employed income from a family business is acceptable subject to confirmation of the income from the external accountant.
17 July 2017
Acceptable
Criteria definition:Displays if we will accept Flight Pay as an acceptable source of income for affordability purposes.
Our policy notes:Family Building Society can potentially consider Flight Pay as an acceptable source of income for affordability purposes.
Last updated:16 September 2020
Acceptable
Criteria definition:Indicates if we can accept Foreign currency as an acceptable source of income for affordability purposes.
Our policy notes:We accept employed incomes paid in a foreign currency so long as the mortgage application is on an interest only basis.
30 June 2017
Acceptable
Criteria definition:Indicates if we can accept Large Town Allowance as an acceptable source of income for affordability purposes.
Our policy notes:We can take 100% of guaranteed income.
08 May 2017
Acceptable
Criteria definition:Indicates if we can accept London Weighting as an acceptable source of income for affordability purposes.
Our policy notes:We would accept 100% of this source of income. Evidence of this would need to be evident in payslips or an employment reference.
20 April 2017
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