Radio 4 - Money Box Programme - LSAP and Mortgages

Just listened to this programme as it was advertised as discussing Armed Forces personnel having difficulty in getting mortgages due to the BFPO addresses used when abroad.

Two key points came from it:

1. The Halifax (Britains biggest mortgage lender) is now demanding a 10% deposit on all mortgages, so the LSAP money (8.5k), designed to help with purchasing a house won't reach any where near the deposit needed for an average house. Surely this is justification for raising this out-of-date allowance.

2. Make sure, if your abroad, that you are on the electorial role at a UK registered address.

It's not just the Halifax that have raised to 10% several others have although HSBC are the only one I can remember from TV at 0630hrs this morning.

Go to to listen to the 1 March MoneyBox programme. Forces Financial's MD, Al Voice, contributes to the discussion on disadvantages currently experienced by members of the Armed Forces looking for mortgages and credit on their return to the UK following overseas postings.

Forces Financial is a trading name of Stuart Harvey Insurance Brokers Limited who is authorised and regulated by the Financial Services Authority. Registration number 301858. Registered Office: Globe House, 24 Turret Lane, Ipswich, Suffolk, IP4 1DL

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