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On this page you will find a summary of our current lending terms which apply to our Buy to Let mortgage products.

These lending terms should be read in conjunction with the relevant mortgage product summary which will outline any requirements specific to individual mortgage products.

Loan amount and property value

  • Minimum loan: £45,000. This may vary depending on the product terms selected.
  • Maximum loan: Repayment and interest only loans up to £500,000 (refer to New Business Team if above this maximum) - 65% of the lower of vacant possession value or purchase price. This may vary depending on the product terms selected.

Loans are subject to minimum vacant possession values or purchase price (whichever is lower) of £120,000 for flats/maisonettes and bungalows/houses. This may vary depending on the product terms selected.

Mortgage term

The minimum term is 5 years and the maximum is 40 years.

Borrower and status

You must already be an owner occupier of a main residence and this status must be retained after completion of our mortgage. We must be satisfied that you are able to demonstrate a current mortgage track record (minimum 12 months). You must be either gainfully employed or have investment, pension or other income. Your income (single or joint) must cover a three month rental void and evidence to confirm this amount may be required.

Borrowing calculated as:

For remortgage applications where no new borrowing is being taken: 
For loans up to 65% of the property value or purchase price, whichever is lower:
The loan amount is assessed on the basis that the monthly rent must exceed 130% of the interest payable per month*

* Calculated on the Society's Residential Investment Managed Mortgage Rate.

For purchase applications or remortgage where extra funds are being taken:
The loan amount is assessed on the basis that the monthly rent must be equal to or exceed 145% of the interest payable per month calculated at the higher of :

  • The product's initial interest rate plus 2% or
  • The Society’s monthly Residential Investment Managed Mortgage Rate or
  • The Society’s expectation of likely future interest rates.
Please note that for our five year fixed rate mortgage, the loan amount is assessed using the product's initial interest rate. 

For remortgage applications to be considered the property must have been owned for a minimum of six months.

For purchase applications we require a letter from a firm of professional letting agents giving an indication of the rental amount that can be achieved and the state of the local rental market.

Armed forces: Loans are available subject to certain conditions. For more information, please read our owner occupier lending criteria.


Properties must be of standard construction, in good condition and suitable for immediate letting. Properties must be situated in England and Wales and within predominantly residential areas.

All flats/maisonettes must be self-contained units. New build flats, studio flats, ex-local authority flats, freehold flats and flats above commercial premises are not acceptable (however, see ‘Properties above commercial premises’ below). The number of storeys in any one block of flats must be no more than four, although it may be possible in central London to exceed this figure. Leasehold flats / maisonettes are accepted subject to a minimum of 50 years unexpired remaining on the lease at the end of the mortgage term.

All new-build properties (apart from flats which we will not consider) and multiple applications must be referred for consideration. Before proceeding please contact our New Business Team on 03330 140140 or email our New Business Team.

The following property types will not be accepted: properties with more than one kitchen, more than four bedrooms or more than four tenants, properties designated as Houses in Multiple Occupation (HMOs), properties let to students or properties where the property is to be rented to the current owner following completion (buy and rent back). We will not consider an application where the property is or is intended to be occupied by the borrower or a related person.

Properties above commercial premises
These can be considered subject to the valuer’s comments. Specific consideration will be given to the location of the property and adjacent businesses. The property must be located in a desirable area with good demand and should be readily saleable. The proximity of the commercial use must not affect the quiet enjoyment of the property.

The property must be self-contained, having separate access, and must be on a separate title to the commercial premise. Properties which are over, adjacent to or in very close proximity to a café / restaurant / take-away, pub, bar, club or any property where the use is likely to cause a nuisance or which may involve hazardous materials will not be considered. The commercial premises must not be owned by the potential borrower as this would have legal implications in the event of repossession. This is not an exhaustive list and every case will be considered on its own merits.

If you have any further questions on standard or non-standard construction, or if you are unsure about whether we will consider the type of property in question, please contact a member of our team.


Diplomatic, University/College, Housing Association, Council and DWP lets, will not be considered. There must be only one agreement which will be approved by the Society's solicitors or licensed conveyancers. Assured shorthold tenancies only are acceptable with the period for each tenancy not less than six months and not more than 12 months, except where the tenancy is to either a limited company, or to an individual(s) subject to a rent exceeding £100,000 per year.

Where the tenancy is to an individual(s) subject to a rent exceeding £100,000 per year, the lettings must not exceed one year or, exceptionally, two years. Rent must not be payable more than one month in advance without our prior approval.

In the case of a let to a limited company, occupation must be restricted to an employee of the company and his / her immediate family. The initial tenant must not be either related to the borrower or the unmarried partner of the borrower.

For tenancies that have commenced after 1 April 2018, the property should have an Energy Performance Certificate rating of ‘E’, or above.

Expatriate mortgages

We offer Buy to Let expat mortgages for properties located in England or Wales. We're able to lend to UK Nationals aged 18 and over who are living and working abroad, and whose families are remaining in the UK subject to certain conditions. Our expat mortgages are only available on an Interest-Only basis. Please contact our New Business Team for more information on 03330 140140.  

All applicants must be able to provide satisfactory evidence of identity, overseas address and proof of income and hold a UK bank account.

Minimum loan amount: £100,000.

Buy to let applications from expatriates are acceptable from a restricted list of countries, as follows:

Czech Republic           
Hong Kong


New Zealand

Slovak Republic
South Korea
United Arab Emirates
United Kingdom2
United States
 of America

1 The Netherlands, Aruba, Curacao and St Maarten 
2 UK Crown Dependencies and Gibraltar

Please note 

  • You must have a UK bank account into which the tenant’s rental payments are paid. This must be the same bank account that the direct debit is set up to pay us the mortgage repayments
  • Any deposit monies must be paid from or evidenced as held within a UK bank account
  • You must be working for a recognised large organisation who have a UK presence

ID requirements for Non UK Residents

  • Evidence of identity must be certified as a true copy of the original and a true likeness of the yourself. Your introducing intermediary can certify these documents, or if this is not possible, the documents can be certified by the your overseas bankers or a solicitor / notary in your country of residence
  • As part of our ID verification, in addition to the documents noted below, we will contact your employer to confirm the residential address details they hold for you 
  • We require a UK named individual (a family member or solicitor) and their address for service of notices 
  • ID requirements can be satisfied by providing: one from List A and one from List B below + additional corroborative evidence.  

In all cases we require a valid UK passport and a valid Residence Permit / Visa (unless the applicant is resident in an EU country where this may not be available). We will also need one from each list below:


  • Valid National Identity card
  • Tax Notification from the country of residence
  • Valid photocard driving licence from country of residence


  • Bank statement*
  • Credit / debit card statement*
  • Utility bill *

Please note: We cannot accept copies from the internet for those items marked *. 

* These items should also be dated / issued within the last 6 months.

We require the certified documents to be written in English and include the wording ‘I certify this as a true copy of the original’. We also need the certified document to include the following:

  • Date stamp
  • The person’s name printed and signed
  • Job title i.e. Personal Banker or Legal  Adviser
  • Certification stamp

We can only receive ID requirements by:

Please note: We can only accept uploaded ID that has been appropriately certified. 

Buy to Let lending to Limited Companies

The Society can also consider lending on Buy to Let properties where the borrower is a Limited Company. In such cases the following will apply:

  • The product fee will be 1.25% of the loan amount.
  • The company must be a Special Purpose Vehicle (SPV) registered within England and Wales.
  • Maximum 65% loan to value (LTV).
  • Minimum loan size £100,000.
  • Full personal guarantees will normally be required with joint and several liability from all Shareholders and Directors. All guarantors will require independent legal advice (in the absence of personal guarantees from all Directors and Shareholders, the maximum LTV will be reduced by 10%).
  • The SPV should be new to avoid the need for due diligence on previous company activities.
  • For the period of the mortgage the SPV will be required not to undertake any other business activity nor to take on any other debt.
  • All Directors are “natural persons” i.e. no shareholding by other companies.
  • Both the Limited Company and the individual Directors and/or Shareholders must have a clean credit history with no:
    • Liquidations (compulsory and creditor), other than orderly winding-up of solvent companies.
    • Administration orders (Corporate Voluntary Arrangements – CVA – are treated the same as IVAs).
    • Winding-up orders (all receiverships).
    • Business CCJs are treated the same as personal CCJs.
  • SPV must be Standard Industry Classification (SIC) Codes ‘68100 Buying and selling of own real estate’ or ‘68209 Other letting and operating of own or leased real estate’.

The Society may appoint and be separately represented by a conveyancer with suitable expertise in this market.

General criteria, suitable properties and rent ratio requirements are the same when lending on this basis as when lending to an individual borrower.

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Family Building Society
Ebbisham House
30 Church Street
Surrey KT17 4NL
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