Military to get help with housing

mkpdavies · 20-09-2006, 05:26 PM

http://news.bbc.co.uk/1/hi/england/5364536.stm

Quote:

Armed forces personnel are to be given help buying their homes for the first time, the government has announced.
Up to 10,000 members of the forces who are based in service housing in London, the South East and the East of England will be helped under the scheme.

They will be able to buy a new home paying a minimum of 25% of the price and reduced rent on the remaining cost.

My bro will be happy, seeing he just moved to Scotland from the SE.

DOH.

gimlet · 20-09-2006, 05:45 PM

Not sure about this although it is misleading - the armed forces used to have a savings scheme to help housebuyers that was taxpayers assisted, £1 added for ever £3 saved, but was closed as it was unfair to people already owing houses. Maybe it would be better to move the mil to a cheaper part of the country? If mil housing is available why does more taxpayers money need to be wasted, because serviceman could always buy in a cheaper part of the UK and rent it out?

C_steam · 20-09-2006, 08:46 PM

becuase generally the lower ranks aren't enormously well paid, and then they have to pay for their accomodation anyway.

having said that, the buy to rent method was widely used, BUT has drawbacks in that 1) believe it or not, mortgages are harder for servicemen to find - both in terms of life risk and trying to establish identity!!! (I was refused credit as a serviceman because i hadn't lived ANYWHERE for more than three years and because my service ID card ('F1250') wasn't on the list of approved proofs of ID........)
and 2) normally a minimum 20% deposit is required which nowadays is hard to come by for a junior rank. As a serviceman I had to cheat for my first house -I took out a bank loan (ostensibly to buy a car) which I then used as the mortgage deposit with another lender.....

Try looking at the percentage of thirtysomethings who are homeless and ex-military. Scary. There but for the grace of god........

eublues · 20-09-2006, 08:55 PM

Is this linked fundamentally to wanting to sell off MOD property?

And wouldn't it be better just to improve pay for the military rather than get involved in complex schemes (no doubt lucrative for companies that will be involved)?

mark starr · 23-09-2006, 07:47 AM

The problem is that because our forces are continually on the move it has not been sensible in the past for them to buy a home but then the problem arises that when they leave they have not got the money to buy a house at the very high prices that exist today.
If you say they should save dont forget they have to pay rent on MOD property. Historically when forces went overseas their families they often went back to their parents. Dont forget most of the peole we are talking about as can be seen by our casualties are below 30.
Frankly when Government provides special deals for other civil servants tobuy their own homes I am all in favour of our armed forces getting such deals

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20-09-2006, 05:45 PM	#2 (permalink)
gimlet Senior Member Join Date: Oct 2004 Location: Shropshire Posts: 831	Not sure about this although it is misleading - the armed forces used to have a savings scheme to help housebuyers that was taxpayers assisted, £1 added for ever £3 saved, but was closed as it was unfair to people already owing houses. Maybe it would be better to move the mil to a cheaper part of the country? If mil housing is available why does more taxpayers money need to be wasted, because serviceman could always buy in a cheaper part of the UK and rent it out?

20-09-2006, 08:46 PM	#3 (permalink)
C_steam Super Moderator Join Date: Oct 2004 Location: Paddling up 5hit creek..... Posts: 7,698	becuase generally the lower ranks aren't enormously well paid, and then they have to pay for their accomodation anyway. having said that, the buy to rent method was widely used, BUT has drawbacks in that 1) believe it or not, mortgages are harder for servicemen to find - both in terms of life risk and trying to establish identity!!! (I was refused credit as a serviceman because i hadn't lived ANYWHERE for more than three years and because my service ID card ('F1250') wasn't on the list of approved proofs of ID........) and 2) normally a minimum 20% deposit is required which nowadays is hard to come by for a junior rank. As a serviceman I had to cheat for my first house -I took out a bank loan (ostensibly to buy a car) which I then used as the mortgage deposit with another lender..... Try looking at the percentage of thirtysomethings who are homeless and ex-military. Scary. There but for the grace of god........

20-09-2006, 08:55 PM	#4 (permalink)
eublues Uber Member Join Date: Nov 2004 Posts: 3,100	Is this linked fundamentally to wanting to sell off MOD property? And wouldn't it be better just to improve pay for the military rather than get involved in complex schemes (no doubt lucrative for companies that will be involved)?

23-09-2006, 07:47 AM	#5 (permalink)
mark starr Senior Member Join Date: Oct 2005 Posts: 642	The problem is that because our forces are continually on the move it has not been sensible in the past for them to buy a home but then the problem arises that when they leave they have not got the money to buy a house at the very high prices that exist today. If you say they should save dont forget they have to pay rent on MOD property. Historically when forces went overseas their families they often went back to their parents. Dont forget most of the peole we are talking about as can be seen by our casualties are below 30. Frankly when Government provides special deals for other civil servants tobuy their own homes I am all in favour of our armed forces getting such deals