The latest update from Family Building Society can be found here. Remember, we are able to package on a fees free basis for Family Building Society and also offer support to brokers who wish to deal directly via our mortgage club. Further details are available across our website. Full details of product range here.
Important information on our mortgage products
On Friday 1 March 2024, we’ll be changing the availability of some of our fixed rate products, and making these ‘existing customer exclusives’. We will also be restricting access to one of our 5 year fixed rate products, to selected intermediaries only.
The following Semi-Exclusive Owner Occupier fixed rate products will no longer be available for purchase and remortgage applications:
- XF0742 5.59% 2 Year Fixed Rate to 30/06/2026 (Interest-Only) (LTV 60%)
- XF0745 4.99% 5 Year Fixed Rate to 30/06/2029 (Interest-Only) (LTV 60%)
These products will continue to be available for our existing customers for further advance applications and product switches.
The following Owner Occupier fixed rate product will become exclusively available to selected intermediaries:
- XF0747 5.19% 5 Year Fixed Rate to 30/06/2029 (Interest-Only) (LTV 60%)
The following Buy to Let fixed rate products will no longer be available for purchase and remortgage applications:
- XF0749 5.49% 2 Year Fixed Rate to 30/06/2026 (LTV 60%)
- XF0751 4.99% 5 Year Fixed Rate to 31/05/2029 (LTV 60%)
These products will continue to be available for our existing customers for further advance applications and product switches.
We will accept applications for all on sale products through our Mortgage Hub, or by paper, up to and including 5pm on Friday 1 March 2024. This means that any paper applications will need to be fully completed and sent to us ahead of this deadline in order to be received in time.
Our team of BDMs now cover the whole of England and Wales, plus some areas of Scotland, and are all ready to answer your queries and guide you through the application process. If you don’t have a BDM in your area, you can contact our dedicated Mortgage Desk.
Our affordability calculator has changed
We’ve made some enhancements to our affordability calculator! A summary of the key changes are:
- You can now use our affordability calculator for Joint Borrower Sole Proprietor arrangements, in the same way as a standard application, removing the need to complete a full DIP request
- We’ve reviewed the way the calculator views household costs and will now ask you to confirm the number of child dependents aged 0-13 and 14-18 separately
- We’ve improved the way we calculate affordability for houses with more than two adults, and those with slightly different household arrangements
- With no maximum loan size, those with higher incomes may be able to borrow more.
Why choose us?
- No ‘computer says no’ underwriting – We’ll listen to your clients’ stories and our human underwriters will make a common-sense assessment based on the merits on each individual case
- No credit scoring – We offer tailored credit checks, taking a holistic view of your clients’ finances, not just assessing a predefined set of criteria
- No ‘one size fits all’ – Unlike many mainstream lenders, we’ll offer mortgages to a wide range of clients – through products such as Joint Borrower Sole Proprietor (including reverse JBSP) and Buy to Let (including expat & Limited Company). We also offer mortgages to those who are self-employed, as well as those approaching or in retirement
- Other acceptable income – We accept income from pension pots, investment portfolios, stocks, and shares ISAs, other ‘unearned’ or passive income streams such as rental income, state pension and any other annuities can be added to the assumed income.
Our team of BDMs now cover the whole of England and Wales, plus some areas of Scotland, and are all ready to answer your queries and guide you through the application process.
An update to Family Building Society’s affordability calculator
Family Building Society have made some enhancements to their affordability calculator. Find out more about the key changes: