Oral Answers to Questions

Glyn Davies Excerpts

Monday 4th November 2013 Commons Chamber

[Caroline Nokes (Romsey and Southampton North) (Con)]

8. What funding his Department makes available to help armed forces families to get on the housing ladder.

[Glyn Davies (Montgomeryshire) (Con)]

9. What steps he is taking to help improve home ownership among members of the armed forces.

[The Parliamentary Under-Secretary of State for Defence (Anna Soubry)]

The Secretary of State for Defence recently announced that £200 million has been allocated for the creation of the forces Help to Buy scheme. Launching on 1 April 2014, it will significantly improve the support available to members of the armed forces who wish to buy their own home. Forces Help to Buy will offer the men and women of our armed forces a deposit loan of 50% of their annual salary, up to a maximum of £25,000. The loans will be interest-free and repaid over an affordable 10-year period. As well as that additional funding, there will be tailored advice on financial and housing matters. Of course, service personnel are also afforded high priority and additional flexibility under the Chancellor’s main Help to Buy equity share scheme.

[Anna Soubry]

There should not be any difficult in doing that at all. I should add that I am always more than willing to come to see some of the excellent accommodation that I know exists already at Middle Wallop, and I look forward to doing so.

[Glyn Davies]

Armed forces personnel inevitably experience more difficulty accessing home ownership because they often have to move to different parts of the country because of different postings. Has my hon. Friend considered reducing the frequency of such movements to enable greater take-up of home ownership among the armed forces?

[Anna Soubry]

I absolutely agree with my hon. Friend. That is why the new employment model that we are developing will deliver an offer to regular service personnel that supports domestic stability by reducing the frequency of moves and supports partners’ employment. We know that issues such as those two points often concern members of our armed forces and lead to a lot of dissatisfaction.