Buying A House Of Your Own

#1
I'm thinking about buying a house back in my home town of runcorn, im posted in 241 sig sqn at corsham and was wondering a few things if anybody could help:
1. I heard of an £8,000 interest free loan the army lends out for first time buyer, how would i go about getting this?
2. also heard home-owners can claim money back every month for travelling home: any details on this, and if anybody else has any tips about property buying let me know =)
 
#2
It's called Long Service Advance of Pay. Clerks have all the details.

You can get an allowance for travelling back; the clerks will have more details. I think the house has to be unoccupied.
 
#3
plant_life said:
It's called Long Service Advance of Pay. Clerks have all the details.

You can get an allowance for travelling back; the clerks will have more details. I think the house has to be unoccupied.
Plant Life is bang on there. You will need to prove that you are paying the council tax bills etc as well. F**k Knows why?
 
#4
You have to jump through all sorts of hoops. As an unaccompanied guy I have to provide mortgage details, proof of council tax payment and a utility bill in order to claim mileage allowance.
 
#5
LSAP - Long Service Advance of Pay. Up to £8500, speak to your HR ninja's, they should be able to tell you the full in's and out's of it all.

Get You Home (Mileage) - Paid when the service person (in your case) owns their own property and it is not viable to travel to and from work every day. Not to sure about providing loads of information, all I used to ask for was a copy of the council tax bill for that financial year. The property can not be rented out, and you 'must' live there at weekends, stand downs etc.

Your HR bods should have told you all this, are they unsure as this is HR bread and butter?
 
#6
Not everyone who puts a claim in for something is entlitled to it.

This way by providing proof that you are entitled to the said allowance, stops other people claiming something that they are not.

After all it is the public's money that we are giving you :)
 
#8
O.K. then to give you the exact advice you are after. The 'interest free loan' you refer to is indeed called LSAP as somone pointed out earlier. It is not however, interest free, just a very good rate considering the term you pay it back over. I imagine you are getting misguided information on the grounds that the 1st £5000 of this loan is TAX free. If you ask for the full £8500 you merely pay tax on the last £2500 which is added to your debt, not recovered from your £8500 payment. This can only be used to buy a RWA (residence at Work Address) I.E. you must commute from it to your duty station. So using it to buy a house in the middle of no-where is a no no I'm afraid. Regulations can be found in JSP 752 Chapter 7, Section 5.

With regards to claiming the mileage allowance to said property, it is called Get You Home Travel. It is designed to alleviate the cost of travelling to a residence you rent / own at weekends and stand-downs for which you would normally be living in were it not for your job. To be able to claim this, you do indeed need A LOT of paperwork (Stinkerson, If you are married, the rules are a little different regarding what you need to provide). Single personnel need to abide by the following:

To prove entitlement for GYH Travel claims to a PMP the Service person is to provide originals of 4 of the documents listed below (one from each of the 3 groups, plus an additional one from any of the groups). The documents are to be in the name of the Service person and are to show the address of the PMP. The documents are to be provided on initial claim and where there is a change in personal circumstances which may affect entitlement.

a. Group One

Mortgage documents/Land Registry documents/Ground Rent.
Tenancy agreement including full details of the property.

b. Group Two

Utility bill (gas, electric, water, telephone but not mobile phone) (to be dated within the last 4 months).

Council Tax Bill (for the current year).

Buildings and/or contents insurance (for the current year).

Direct Debit or Giro bank evidence of payment of any of the above (to be dated within the last 4 months).

Evidence of inclusion on the current Electoral Register.

c. Group Three

Solicitor’s correspondence regarding the purchase or letting of the property

Estate Agent’s correspondence relating to the purchase or letter of the property

d. Statement from Service Person. If for whatever reason the Service person is unable to provide documentary evidence of entitlement for claims to a PMP, they may additionally submit a personal statement giving details of their enduring financial responsibility, their occupancy of that location or their commitment to travel. This is to be submitted to the SPVA PACC as casework (see paragraph 01.0108).


Regulations can be found in JSP 752 Chapter 5 Section 2.
 
#9
Hmmm,

I see.

Everything seems to ne in order here,

I'll just be on my way :wink:
 
#10
Wait until the market drops, bases, then rallies. Buy the first pullback,.
 
#11
jt9563 said:
O.K. then to give you the exact advice you are after. The 'interest free loan' you refer to is indeed called LSAP as somone pointed out earlier. It is not however, interest free, just a very good rate considering the term you pay it back over. I imagine you are getting misguided information on the grounds that the 1st £5000 of this loan is TAX free. If you ask for the full £8500 you merely pay tax on the last £2500 which is added to your debt, not recovered from your £8500 payment. This can only be used to buy a RWA (residence at Work Address) I.E. you must commute from it to your duty station. So using it to buy a house in the middle of no-where is a no no I'm afraid. Regulations can be found in JSP 752 Chapter 7, Section 5.

With regards to claiming the mileage allowance to said property, it is called Get You Home Travel. It is designed to alleviate the cost of travelling to a residence you rent / own at weekends and stand-downs for which you would normally be living in were it not for your job. To be able to claim this, you do indeed need A LOT of paperwork (Stinkerson, If you are married, the rules are a little different regarding what you need to provide). Single personnel need to abide by the following:

To prove entitlement for GYH Travel claims to a PMP the Service person is to provide originals of 4 of the documents listed below (one from each of the 3 groups, plus an additional one from any of the groups). The documents are to be in the name of the Service person and are to show the address of the PMP. The documents are to be provided on initial claim and where there is a change in personal circumstances which may affect entitlement.

a. Group One

Mortgage documents/Land Registry documents/Ground Rent.
Tenancy agreement including full details of the property.

b. Group Two

Utility bill (gas, electric, water, telephone but not mobile phone) (to be dated within the last 4 months).

Council Tax Bill (for the current year).

Buildings and/or contents insurance (for the current year).

Direct Debit or Giro bank evidence of payment of any of the above (to be dated within the last 4 months).

Evidence of inclusion on the current Electoral Register.

c. Group Three

Solicitor’s correspondence regarding the purchase or letting of the property

Estate Agent’s correspondence relating to the purchase or letter of the property

d. Statement from Service Person. If for whatever reason the Service person is unable to provide documentary evidence of entitlement for claims to a PMP, they may additionally submit a personal statement giving details of their enduring financial responsibility, their occupancy of that location or their commitment to travel. This is to be submitted to the SPVA PACC as casework (see paragraph 01.0108).


Regulations can be found in JSP 752 Chapter 5 Section 2.
You missed a bit Trigger, this is only if you are applying for it for the first time, or in a new unit, and are not just "continuing" it. (Unless you lied to me).

You have to jump through all sorts of hoops. As an unaccompanied guy I have to provide mortgage details, proof of council tax payment and a utility bill in order to claim mileage allowance.
We've got to keep the likes of you on your toes, and yes - you are new to a unit, so how do we know what you are up to? Choccie bickies for me please PL. You can make the brews.
 
#12
The_Snail said:
You missed a bit Trigger, this is only if you are applying for it for the first time, or in a new unit, and are not just "continuing" it. (Unless you lied to me).
jt9563 said:
The documents are to be provided on initial claim and where there is a change in personal circumstances which may affect entitlement.
I covered it Snaily :)
 
#13
jt9563 said:
I imagine you are getting misguided information on the grounds that the 1st £5000 of this loan is TAX free. If you ask for the full £8500 you merely pay tax on the last £2500 which is added to your debt, not recovered from your £8500 payment.
JT9563,

How many peoples pay do you administer? I only ask because your calculations seem a little off.
In my book £8500 - £5000 = £3500.
Have you found a fiddle to give an extra £1000 tax free :D
Shiny
 
#14
Doh! Caught me! Don't tell the taxman :oops:
 
#15
One cautionary tale:

Check whether taking this will have an impact on your eventual mortgage as some lenders will see this as another loan and include it in their calculations and thereby not give you the biggest loan they could have done if you didn't have it.
 
#16
JT, You posted the following paragraph - This can only be used to buy a RWA (residence at Work Address) I.E. you must commute from it to your duty station. So using it to buy a house in the middle of no-where is a no no I'm afraid. Regulations can be found in JSP 752 Chapter 7, Section 5.

The house you are purchase using LSAP doesn't have to be a RWA, thats only for Refund of Legal Fees, as stated in 752, Ch7 S5. For LSAP rules see 752, Ch2, S4, maybe you were still a little confused after subtracting 8500-5000, lol.
 
#17
Further to that Barbs, the term long service advance of pay is slightly misleading. You used to have served 17 years (in the Army anyway) to claim it, now i believe you only have to pushed out 10. I Believe it is covered in JSP 752 chap 2 sect. 4.
It is not an advance of pay either, it is a secured loan, secured not against your future service (as the name would suggest) but against any property which you buy. This is important and you should tell any lender of this as early as possible. If you have a substantial deposit, though it will matter little and because it is interest free (the first £5000) you would be silly not to take advantage. Just get your application in early, about 8 years before you buy at their current pace of processing claims.

g'luck
 
#18
Don't even have to have pushed out 10 U_S. One of the youner lads in my troop has just used LSAP towards the deposit on his house and he's only done about 4 years
 
#19
I believe it's 21 years old now, brought in line with the RM
 
#20
Just been through this myself and it is no longer a secured loan. Therefore it will not impact on your other mortgage lender's rights to the property. If your mortgage lender is not up to speed you can request a letter from the SPVA.
 
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