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This video discusses Family Building Society's specialized mortgage offerings, including monetizing assets for income generation, unique lending options for various scenarios, and manual underwriting practices.


Key Takeaways

Family Building Society specializes in high net worth lending, buytolet, and later life lending.

They can help clients monetize assets like pensions and investments to arrange mortgages.

Unique offerings include retirement interestonly mortgages and flexible loan terms for joint borrowers.

Manual underwriting process involves bespoke assessments rather than credit scoring.

They offer various buytolet options, including limited company and expat buytolet.

Selfemployed borrowers benefit from considerations like retained profit in assessing affordability.

Lending is primarily in England and Wales, with detailed assessments for applications involving multiple parties.

Family Building Society's retirement interestonly mortgages offer several advantages compared to traditional mortgages:

Extended Borrowing Age: Clients can borrow on these mortgages until age 110, providing flexibility for older borrowers who may not fit traditional mortgage age limits.

LoantoValue (LTV) Limits: These mortgages can allow for up to 50% LTV, providing options for those with significant equity in their homes.

Affordability Considerations: Family Building Society considers various factors, including equity and other income sources, to determine affordability rather than just focusing on income multiples.

Flexible Repayment Vehicles: They offer options beyond downsizing for repayment, such as using transferable benefits and other assets, catering to a wider range of financial situations.

Joint Borrower Sole Proprietor Pool: This feature enables joint borrowers to help each other onto the property ladder or assist family members with housing without the traditional constraints of mainstream lenders.

Manual Underwriting: The mortgages are manually underwritten, providing a personalized assessment based on the client's individual circumstances rather than relying solely on credit scoring.

Death Stress Testing: This involves a robust assessment of affordability that considers pension incomes from both applicants, ensuring responsible lending practices even in later life.


Overall, these retirement interestonly mortgages cater to the specific needs of older borrowers, offering flexibility, tailored affordability assessments, and unique repayment options that go beyond what traditional mortgages typically provide.

Yes, Family Building Society can help clients monetize assets like pensions and investments to secure a mortgage. They offer several options to leverage these assets for income generation and affordability purposes:


Monetizing Pension Funds:

Clients with a pension fund can utilize a portion of its value to generate income for mortgage affordability.
For example, they may consider up to 90% of the pension pot's value for a particular mortgage term, calculating a suitable income amount based on the client's needs.
Utilizing Investments:

Various investments such as wealth management funds, stocks and shares, investment bonds, ISAs, and equity ISAs can also be considered for generating income.
These assets can be evaluated for their income potential to support mortgage applications.
Customized Income Generation:

Family Building Society works with clients to tailor income generation strategies based on their specific assets and financial goals.
Options may include using a percentage of the asset's value over a certain term to meet affordability requirements without necessarily needing to draw the income.
Flexibility in Asset Monetization:

The society can explore different terms and percentages based on individual circumstances, allowing clients to make the most of their assets without immediate liquidation.

By offering these asset monetization options, Family Building Society provides clients with innovative ways to leverage their financial resources to secure mortgages while maintaining financial stability and flexibility.

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