Money Matters


On this page:

Army families can avoid excess mortgage fees if they own a home and are forced to rent it out due to postings
Can you claim Marriage Allowance?
Brexit and your overseas posting
Changes to lettings legislation
Car insurers offer better deal for Armed Forces personnel
Bedroom Tax
Government help to buy ISA
Entitlement to claim Jobseekers Allowance (JSA) for spouses and adult children of Service personnel
Armed Forces Pension Scheme 2015
Forces Help to Buy (FHTB) – frequently asked questions
Mortgage barriers for Armed Forces families
MOD Ex-Gratia Payment in lieu of Maternity Allowance
Financial top tips for Service personnel
Sure Start Maternity Grant - Overseas Applications
Moving back to the UK? Think about your finances

 

Army families can avoid excess mortgage fees if they own a home and are forced to rent it out due to postings

AFF is thrilled that after a great deal of campaigning, Army families posted within the UK or overseas are now able to rent out their homes without facing higher mortgage charges or having to change their existing mortgage deal, saving them time and money. Read more.

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Can you claim Marriage Allowance?

Does the non-serving partner in your family earn less than £11,000? If so, you could pay less tax by applying for the Marriage Allowance. Read more.

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Brexit and your overseas posting

Are you posted overseas and have concerns about Local Overseas Allowance (LOA) and exchange rates as a result of Brexit? Read more.

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Changes to lettings legislation

Do you own a property and let it out? If so, changes to tax regulations were implemented in April that may affect you. Read more.

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AFF in ActionCar insurers offer better deal for Armed Forces personnel [AFF in Action]

AFF is delighted with the news of an agreement from the Association of British Insurers (ABI) and the British Insurance Brokers Association (BIBA). After much campaigning, Armed Forces families will now keep their no claims bonus for up to three years and save on cancellation fees if you need to cancel at short notice due to an overseas posting. Read more.

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AFF InvestigatesBedroom Tax [AFF investigates]

Whether or not a member of the Armed Forces lives at home with their parents is a matter for the Local Authority (LA) to decide based on all the available facts. Read more.

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Government help to buy ISA

Good news for first time buyers: you could save up to £200 a month towards your first home with a Help to Buy ISA, and what’s more, the government will boost your savings by an extra 25 per cent - that’s an additional £50 bonus for every £200 you save. Read more.

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Entitlement to claim Jobseekers Allowance (JSA) for spouses and adult children of Service personnel

Previous residence rules exempted Service spouses and adult children returning from overseas to claiming Jobseekers allowance for three-month residence requirement. Read more.

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Armed Forces Pension Scheme 2015

Did you know that, since the new Armed Forces Pension Scheme 2015 (AFPS 15) was introduced, it now takes up to 30 working days from the day of your soldier’s discharge for all pension and compensation payments to be processed? Read more.

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Forces Help to Buy (FHTB) – frequently asked questions

Are you hoping to use the FHTB scheme to purchase your own home on civvy street? Since the scheme launched in April 2014, over 400 people have used it to do just that.

AFF has received lots of questions from families about FHTB. To help you, we have compiled a list of answers to these frequently asked questions.

If you have any questions, comments or further suggestions then please contact AFF Employment, Training, Allowances and Money Specialist, at etam@aff.org.uk or 0775 504 5955. 

Q. Is my soldier eligible for FHTB? Click here to show answer

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Q. We want to use FHTB. Is there a list of mortgage lenders that accept the scheme? Click here to show answer

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Q. Up to how much can we borrow with FHTB? Click here to show answer

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Q. How far in advance can you apply for the scheme? Click here to show answer

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Q. Are you no longer entitled to Single Living Accommodation (SLA) if you have used the scheme? Click here to show answer

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Q. Will we be able to move back into SFA if my soldier gets posted away from the house we intend to purchase using the FHTB loan? Click here to show answer

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Q. Do I have to buy near my duty station? Click here to show answer

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Q. Do I have to live in the purchased property or can I rent it out? Click here to show answer

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Q. I already own my own home. Can I use FHTB to make improvements, such as an extension, to my property? Click here to show answer

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Q. Is there a list of mortgage lenders who are more understanding of the Armed Forces lifestyle? Click here to show answer

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Q. I am looking for some advice and clarification on married unaccompanied allowances. We are thinking of purchasing our first home. We have young children and my soldier will turn 37 in September. The JSP [752] is a nightmare to try and understand as to what allowances he may be entitled to claim. He has spoken to his Admin Clerks but is getting different answers. We want to buy near my family, about 200 miles away from where my soldier is based. Also, he has only four years left to serve. Click here to show answer

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Q. My soldier is medically downgraded but not on a permanent basis. Is he still eligible for FHTB? Click here to show answer

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Q. I am a Foreign & Commonwealth soldier. Can I access the FHTB scheme? Click here to show answer

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Q. Can I use FHTB to purchase a property outside of the UK? Click here to show answer

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Q. We are currently in our own house and want to use FHTB to move somewhere bigger. My RAO told us that, as the house we want is within 50 miles of our current one, we can’t use FHTB. Click here to show answer

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Q. Will my Continuity of Education Allowance (CEA) eligibility will be affected by a FHTB loan? Click here to show answer

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Q. How can we contact the FHTB team? We need to get information from them quickly. Click here to show answer

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Q. My mortgage provider has asked for a PIN as a matter of urgency. What is a PIN and how do I get this? Click here to show answer

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Q. Will the FHTB loan make an imprint on our credit score? Click here to show answer

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Q. We have bought our own home using the FHTB scheme, however, we are serving in Europe and we cannot afford the removals (over £3000) as there is no assignment/posting order in place. Why can’t we have future removals brought forward to now to enable me to move? Click here to show answer

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Q. I want to use FHTB to buy, but need to know what are the rules regarding timings from receiving keys to my house to moving out of my SFA? Click here to show answer

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Further information and links
FHTB is part of the New Employment Model (NEM) programme; an initiative that aims to offer more stable home lives for the majority of Service personnel and their families. Further information can be found on the NEM intranet page (accessed on a military terminal only). 

For further advice on options for home purchase, you can visit the Joint Service Housing Advice Office intranet site (accessed on a military terminal only) or the Homes and Communities Agency and Help to Buy websites.

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Mortgage barriers for Armed Forces families

AFF has received a number of queries from families experiencing barriers when applying for a mortgage. We are keen to remove these disadvantages and we want lenders to understand that due to our Armed Forces lifestyle, our circumstances are different to civilians and therefore more understanding is required. Read more.

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MOD Ex-Gratia Payment in lieu of Maternity Allowance

If you are accompanying your spouse/civil partner overseas and fall pregnant, you may be entitled to an Ex-Gratia Payment in lieu of Maternity Allowance if you are prevented from claiming the normal Maternity Allowance. The MOD Ex-Gratia Payment in lieu of Maternity Allowance policy applies to eligible spouse/civil partners who accompany their Service spouses overseas to countries outside the EEA and where there is no reciprocal benefit agreement. Read more.

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Financial top tips for Service personnel

A series of 'top tips' offering Service personnel practical advice on financial issues has been produced by the government and representative bodies from the financial sector. Read more.

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Sure Start Maternity Grant - overseas applications

The original instruction from the MOD stated that Sure Start Maternity Grants (SSMG) for those living overseas should be claimed from the Department for Work and Pensions (DWP) through a single point of contact. This address has since changed and applications should go through the DWP Social Fund department. Read more.

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Moving back to the UK? Think about your finances

If you are moving back to the UK after a stint overseas, it is a good idea to consider the implicationson your finances. Read more.


AFF Specialist

Laura Lewin
Tel: 0779 904 5955 
Email: etam@aff.org.uk

This post is generously supported by ABF The Soldiers’ Charity

 ABF logo

 

See also

Army Money News

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