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| Posted on Regimental site:- RA | 8 October 12:31 |
I have today received an e mail from the regional manager stating that if clients have had a BFPO (British Forces Post Office) address in the last 3 years they will not be a suitable applicant. This means that anyone who has been fighting in Afghanistan for example would be discriminated against.
A sector of society where people struggle to get on the housing ladder is the military where the need for advice is crucial to guide them through the numerous possibilities and problems they will face.
British military personnel are engaged all over the world from Afghanistan to Cyprus, meaning they often have no fixed address. When on duty all military personnel are assigned a British Forces Post Office number where they can receive post. As this number is not a proper address it does not appear on a credit search so all military would fail credit checks and be refused a mortgage.
If you think this is disgusting behaviour. Please do feel free to share.
Perhaps a move of our savings may assist in the NATIONWIDE BS in having a rethink of this deplorable treatment of our armed services.
EDIT by AMETHYST
I have spoken to Nationwide on this issue and have the following statement from them.
Nationwide understands the challenges faced by our armed forces in getting a mortgage and has measures in place to support armed forces personnel, including giving specific guidance to our staff and offering individual underwriting consideration. The Society will continue to offer mortgages direct to borrowers with a BFPO address, but will be unable to accept such mortgages via intermediaries due to a simplification of our mortgage processing system.
The Society has a strong history of support for, and consideration of, the needs of military personnel –
·Nationwide employees have been given specific guidance about the issues affecting customers in the armed forces and how to be flexible in their approach, including offering individual underwriting consideration
·It continues to work closely with the Council of Mortgage Lenders and Building Society Association to devise a proactive campaign of support
Especially at a time of ongoing active conflict overseas, we believe it is right that our industry sets out its support for military personnel. Together, we need to offer practical initiatives that help to remove financial worries from these brave people and their families, particularly when they are risking their lives daily to support us and ours.
Nationwide understands the challenges faced by our armed forces in getting a mortgage and has measures in place to support armed forces personnel, including giving specific guidance to our staff and offering individual underwriting consideration. The Society will continue to offer mortgages direct to borrowers with a BFPO address, but will be unable to accept such mortgages via intermediaries due to a simplification of our mortgage processing system.
The Society has a strong history of support for, and consideration of, the needs of military personnel –
- Nationwide has introduced the freedom for service personnel who are posted overseas on operational duties, to rent out their property, without charge or having to switch to a Buy to Let mortgage
·Nationwide employees have been given specific guidance about the issues affecting customers in the armed forces and how to be flexible in their approach, including offering individual underwriting consideration
- It is one of the UK’s largest supporters of low cost home ownership schemes which Armed Forces Personnel will have access to
- It also accepts deposits via the LSAP Scheme - a long-established MoD scheme under which the government provides a loan for the deposit on a property
·It continues to work closely with the Council of Mortgage Lenders and Building Society Association to devise a proactive campaign of support
Especially at a time of ongoing active conflict overseas, we believe it is right that our industry sets out its support for military personnel. Together, we need to offer practical initiatives that help to remove financial worries from these brave people and their families, particularly when they are risking their lives daily to support us and ours.
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