- Our Autumn newsletter 2023 is now available. You can download it here
Mortgage payment difficulties? We may be able to help. Find out more
Mortgage Advice Service
If you're looking for a mortgage we can help recommend which of our mortgage products might best suit your needs.
Our Mortgage Advice Service is free of charge. So if you are looking for a mortgage and would like some help with the application process, why not give us a call?
Our team of qualified Mortgage Advisers will:
- Complete a Fact Find with you over the phone
- Recommend a Family Building Society mortgage product that suits your needs
- Guide you through the application process and be your point of contact should you have any queries up to completion.
What is a Fact Find?
The Financial Conduct Authority (FCA) introduced new rules on 26 April 2014, to ensure that when you take out a mortgage you can afford it and it suits your needs and circumstances. Since then all mortgage lenders - including Family Building Society, must check that you can afford your repayments now and in the future.
To do this a Family Building Society Mortgage Adviser will collect information about your personal financial circumstances, including income and outgoings, via a series of questions which we call a Fact Find. We will also look at how a rise in interest rates might affect your ability to keep up with your monthly payments.
How do I arrange a telephone call with a Family Building Society Mortgage Adviser and what are the steps?
Firstly please call our New Business Team who will complete an initial mortgage affordability check with you.
They will review how much you earn and your financial commitments. This call will last approximately 15-30 mins.
If you pass the initial affordability assessment they will pass your details to one of our Mortgage Advisers.
The Mortgage Adviser will review your details. They will then call and introduce themselves and book an appointment with you. You will need to have two telephone calls with a Mortgage Adviser.
The first appointment call should last approximately 60-90 minutes. The purpose of this call is to go through the Fact Find. Once the Mortgage Adviser has collected the information needed, they will provide you with mortgage advice and recommend a mortgage product.
At the end of this process you will receive an illustration - this is an individual recommendation detailing which of our mortgage products might suit you best.
The second appointment call would last around 30 minutes. The purpose of this call is to talk through the illustration, explain why the product we have recommended is suitable for your needs and what happens next.
What information will I need to have to hand before my telephone appointment with the Mortgage Adviser?
- A full breakdown of all your income and expenditure
- For debts such as loans, credit cards or mortgages, all the outstanding balances as well as when they started and are due to end
- Policy details of any life insurance policies you hold along with details of any savings accounts or investments that you have.
We look forward to speaking with you!
Please note: Borrowers must be aged 18 years or over and to comply with legislation the Society will need to confirm identity prior to completion of the mortgage. Details of the identification needed will be supplied on request. Loans are subject to valuation and status. Additional security may be required.
Getting a mortgage - what you need to know
Our comprehensive guide highlights everything you need to know about getting a mortgage, including useful tips for first time through to last time buyers.