Deal on mortgages for Armed Forces

December 28, 2016

Recent announcement published 26th December 2016 from Ministry of Defence and Mark Lancaster TD MP on Gov.uk website headlined ‘Boxing Day deal on mortgages for Armed Forces’.

Personnel redeployed within the UK will now be able to rent out their homes without facing higher costs or having to change their mortgage.

Defence Minister Mark Lancaster said: “Our Armed Forces keep us safe and rightly we should be making sure they’re fully supported. This extension means our brave men and women will save time and money when they are fulfilling vital roles across the country and is another example of how the Covenant is making a real difference”.

British Banking Association CEO Anthony Browne said: “Members of our Armed Forces work all over the world to look after us, so it’s only right that we look after them. The extra support provided by the main mortgage providers will make sure service personnel and their families are not disadvantaged when they are required to work away from home and want to rent out their house, and make their mortgages fairer”.

Read the announcement in full on the Gov.uk website click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Britain’s most affordable towns revealed

Britain’s most affordable towns revealed, where homes cost less than two years worth of household earnings   Zoopla reveals 36 British towns where a typical home is worth less than twice the combined annual earnings of two local full-time workers Across Great Britain, a typical home costs 4.3 times annual household earnings, compared with just…
Read More →
bank of england interest rate
Breaking News

Bank of England raises rates to 4%

The Bank has raised interest rates by 0.25 percentage points to 4%. Policymakers were unanimous in their decision. Here is the reaction from the industry. Nathan Emerson, CEO at Propertymark, comments: “As the Bank of England continues to navigate wider economic pressures, including rising inflation, it comes as little surprise that base rate decisions remain…
Read More →
Breaking News

Breaking Property News 5/11/26

Daily bite-sized proptech and property news in partnership with Proptech-X. The Greatest Return on AI May Not Be the Work It Eliminates, but the Human Potential It Releases Time to look at artificial intelligence as a growth engine that upgrades humans working life Thought Leadership By Author Andrew Stanton CEO Proptech-PR For decades, businesses have…
Read More →
Breaking News

Guy Fawkes Night set to fizzle out for UK households

Firework Night set to fizzle out as 97% of UK households won’t buy fireworks and 7 in 10 want to see them banned As many as 97% of UK households won’t be buying fireworks to set off at home this Bonfire Night, while more than seven in 10 believe private fireworks displays in residential gardens…
Read More →
Breaking News

Budget tax raid could hit landlords for £3,500 a year

Budget tax raid could cost landlords almost £3,500 a year as property income tax rises Landlords could face almost £500 in additional annual tax per property, rising to nearly £3,500 across an average portfolio, following the Autumn Budget decision to double the previously planned increase in property income tax rates from April 2027. New analysis…
Read More →
Estate Agent Talk

Upfront information: homebuyers want confidence as much as speed

What movers want from upfront information, and it isn’t only speed Having a survey, legal pack and chain details before making an offer would help more than eight in ten respondents, according to LRG’s latest sales report Of the 553 who answered the question, 41% said they would offer with more confidence, although not necessarily…
Read More →