Navy Net - Royal Navy Community

Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

News story: Thousands of forces families put down roots

MoD_RSS

War Hero
Since the scheme was launched in April 2014, 3,220 families so far have had their Forces Help to Buy applications approved and have bought, or are in the process of buying, their own homes.

Defence Secretary Michael Fallon said:


I’m delighted that the Forces Help To Buy scheme has proved such an instant and huge success.

Helping our servicemen and women get on the housing ladder, so that they can enjoy the security of owning their home, is a great example of the support we provide to them and their families in return for everything they do for our country.

It’s great news that so many have already taken advantage.

I’m proud that, yet again, we’re honouring the core principle of the Armed Forces Covenant – that no service person or their families are disadvantaged by the contribution and sacrifice they make.

Through the annual armed forces continuous attitude survey, the MOD has been listening to the concerns of its personnel and their families.

The survey results showed one of the key worries for service personnel was not being able to afford their own homes, as they move about during their careers.

The £200 million scheme allows military personnel to borrow a deposit of up to 50% of their annual salary so they can get on the property ladder.

Around 80% of those who have received their loan so far are from the junior ranks or are non-commissioned officers.

Approximately 48% of recipients are in the Army, followed by the Royal Navy at 28% and the RAF at 24%.

Around 56% of successful applicants are single while 44% are married.

Over the past year, the MOD has been working hard in partnership with some of Britain’s biggest companies to address these worries and many armed forces families are already reaping the benefits of schemes including the Forces Help to Buy and the dependants’ business start-up programme.

One big business which has been helping provide personnel with their first mortgage is the building society Nationwide.

Richard Napier, Nationwide’s director for mortgages and savings, said:


Buying a home can be complex enough at the best of times, but armed forces personnel face a unique set of circumstances when trying to secure a home of their own.

That’s why Nationwide is proud to have been one of the first lenders to join the MOD’s Forces Help to Buy scheme, through which we have already helped hundreds of people make the transition from living on base, to owning their own home.

Continue reading...
 
Thread starter Similar threads Forum Replies Date
MoD_RSS News story: £6.8 million boost to help thousands more rail commuters travel by bike MoD News 0
MoD_RSS News story: Thousands of troops from UK-led force begin milestone maritime training deployment MoD News 0
MoD_RSS News story: Thousands of schools to pilot new reception class check-up MoD News 0
MoD_RSS News story: New campaign to recruit thousands more adult social care staff MoD News 0
MoD_RSS News story: Thousands of green taxis to benefit from new chargepoints MoD News 0
MoD_RSS News story: Thousands of new places created in Outstanding schools MoD News 0
MoD_RSS News story: Apple set to inspire thousands of young people across the UK for the Year of Engineering MoD News 0
MoD_RSS News story: Thousands of jobs linked to new Manchester Airport road MoD News 0
MoD_RSS News story: Liam Fox announces £240 million investment drive, creating thousands of Welsh jobs as Board of Trade meets in Wales for first time. MoD News 0
MoD_RSS News story: Thousands more school children receiving a nutritious breakfast MoD News 0
MoD_RSS News story: Multi-billion pound defence deal secures thousands of UK jobs MoD News 0
MoD_RSS News story: Thousands of students will benefit from new cadet units backed by £50 million... MoD News 0
MoD_RSS News story: MOD sell off land for thousands of new homes to be built MoD News 0
MoD_RSS News story: Thousands benefit from Armed Forces house loans MoD News 1
MoD_RSS News story: Thousands of new homes to be built as MOD releases more sites MoD News 0
MoD_RSS News story: VJ Day 70: A sigh of relief for thousands of British families MoD News 0
MoD_RSS News story: Thousands celebrate Armed Forces Day MoD News 0
MoD_RSS News story: Thousands of military families helped onto the property ladder MoD News 0
MoD_RSS News story: Army personnel home after training thousands in Sierra Leone MoD News 0
MoD_RSS News story: Appointment of new Permanent Secretary at Defra MoD News 0
MoD_RSS News story: HMCTS legacy notification service – meeting summary 18 June 2019 MoD News 0
MoD_RSS News story: Individuals to be protected from 'devastating impact' of problem debt MoD News 0
MoD_RSS News story: Home Office set to introduce fees for Section 5 firearms licences MoD News 0
MoD_RSS News story: Her Royal Highness The Countess of Wessex, accompanied by FCO Minister, Lord (Tariq) Ahmad of Wimbledon, visits Lebanon MoD News 0
MoD_RSS News story: Ofqual response to Pearson update on A level maths breach MoD News 0
MoD_RSS News story: Head of Government Digital Service to take on new role MoD News 0
MoD_RSS News story: Treaty on voting rights signed with Luxembourg MoD News 0
MoD_RSS News story: Health and Safety Manager - MAIB, Southampton MoD News 0
MoD_RSS News story: Inspection work in progress MoD News 0
MoD_RSS News story: Chinese market access gives a multimillion pound boost for British beef MoD News 0
MoD_RSS News story: Inspection report published: Inspection of Country of Origin Information, January 2019 MoD News 0
MoD_RSS News story: Home Office allocates £35 million to police forces for violence reduction units MoD News 0
MoD_RSS News story: Climate change tops agenda at Flood and Coast Conference 2019 MoD News 0
MoD_RSS News story: Illumina’s takeover of PacBio raises competition concerns MoD News 0
MoD_RSS News story: New videos to help learner drivers improve motorcyclist awareness MoD News 0
MoD_RSS News story: Listeria cases being investigated MoD News 0
MoD_RSS News story: Tenth Economic and Financial Dialogue held between the UK and China MoD News 0
MoD_RSS News story: Restrictions to be extended on products containing plasticising chemicals MoD News 0
MoD_RSS News story: Big boost for tiny tech MoD News 0
MoD_RSS News story: Government publishes details of immigration advisory groups MoD News 0
MoD_RSS News story: RAF Typhoons scramble to intercept Russian fighters as part of Baltic Air Policing Mission MoD News 0
MoD_RSS News story: Michael Walker appointed to FSA Scientific Advisory Committee MoD News 0
MoD_RSS News story: ODP events MoD News 0
MoD_RSS News story: Progression MoD News 0
MoD_RSS News story: Response MoD News 0
MoD_RSS News story: A Brilliant Civil Service, a Brilliant ODP MoD News 0
MoD_RSS News story: A great place to work MoD News 0
MoD_RSS News story: Development MoD News 0
MoD_RSS News story: Learning and development MoD News 0
MoD_RSS News story: The Surge and Rapid Response Team (SRRT) MoD News 0
Similar threads


















































New Posts

Top