UK Government to Ask for Improved Loan Availability to Military

It has recently been announced that the UK Government (Prime Minister and the Treasury in particular) will ask banks to provide military personnel with improved loan availability.

The state will negotiate with leading financial organisations, including banks, building societies and mortgage brokers, to find ways to improve access of members of UK armed forces to lending.

Commenting on the initiative, Mr. Cameron said that "it is important that service personnel are able to get their foot on the housing ladder as the same way other people do up and down the country."

At the moment, the credit rating of military personnel is oftentimes low due to their profession, but the Government believes that personal as well as home loans should be available to British servicemen. Mr. Strachan, professor at the University of Oxford, confirmed that “a significant percentage can experience difficulties in obtaining mortgages because they have poor or inadequate credit history.”

Let us remind that a broader campaign to improve conditions for the military is currently in place.