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

London property values set to fall

The latest market analysis from House Buyer Bureau has found that London is now the only region of Britain where house prices continue to trend downwards, with the average home in the capital forecast to lose almost another £5,000 in value before the end of the year should current market conditions persist. House Buyer Bureau…
Read More →
Breaking News

London property values set to fall

The latest market analysis from House Buyer Bureau has found that London is now the only region of Britain where house prices continue to trend downwards, with the average home in the capital forecast to lose almost another £5,000 in value before the end of the year should current market conditions persist. House Buyer Bureau analysed…
Read More →
Breaking News

Second-steppers turn to higher LTV mortgages as deposits fall

Barclays mortgage data shows the average value of home movers’ (non-first-time buyers) deposits fell -24.8 per cent year-on-year However, the average purchase price for home movers increased 1.0 per cent year-on-year in June, as borrowers make use of higher loan-to-value mortgage products to climb the ladder 34 per cent of prospective second-steppers say they feel…
Read More →
Breaking News

Breaking Property News 23/7/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Guide to AI in Commercial Real Estate: Executive Summary by Ascendix AI in commercial real estate – a beginners manual Wes Snow, co-founder & CEO of Ascendix Technologies, ”Approximately 75% of US real estate companies have already started using AI in their operations in…
Read More →
Estate Agent Talk

Conservatories fall out of fashion

Conservatories fall out of fashion as fewer than one in 10 homes boast the former must-have feature   The latest market analysis from eXp UK has revealed that conservatories appear to have fallen out of favour with England’s homeowners, with fewer than one in 10 properties currently listed for sale offering the once-popular home improvement.…
Read More →
Breaking News

95% of estate agents say homebuying reforms could speed up property transactions

The latest survey by GetAgent.co.uk has found overwhelming support from estate agents for the Government’s proposed homebuying reforms, with the vast majority believing the changes will create a faster, more stable and more efficient property market. The proposed reforms are designed to modernise the homebuying process by introducing greater upfront information, earlier legal certainty and measures…
Read More →