MOD launches tenancy loan scheme

Mortgage Introducer

July 27, 2015

Under the terms of the Tenancy Deposit Loan Scheme the loan is recovered from the defence personnel’s salary over a 12 month period.

Andrew Gregory, lieutenant general and chief of defence people, said: “I am delighted that all permanent service and civilian personnel, including staff in DE&S, are able to apply for this scheme and I am particularly grateful to the Department of Communities and Local Government who originally developed this initiative and then encouraged us to take part.

“The scheme reinforces the department’s whole force approach to all those permanent employees of defence – military and civil service, who collectively deliver our outputs. Moving home can be expensive and can lead to cash flow challenges for individuals and families; the Tenancy Deposit Loan Scheme is designed to alleviate that problem.

“It will help allow individuals to exercise greater choice in where and how they live their lives, and it complements wider efforts for service personnel, particularly under the new employment model, to modernise their terms and conditions of service.”

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