Initially, Lisa and her husband thought that they could only get a mortgage for between £80,000 and £90,000, which meant that they would have to really sit and think about where they could afford to live.
Lisa feels that there is no proper financial advice readily available to [Army] soldiers when they begin their career, which she feels there should be, so that they can prepare themselves for civvi life and the house buying process well in advance.
The couple contacted three different financial advisors for help, but none of them seemed ‘right’. Nadine came highly recommended to them, so they took a look at the Forces Family Finance website. The fact that Nadine is also a military wife immediately attracted Lisa to contact her for some advice, as she felt that she would fully understand what her and her husband were going through.
So, how did Nadine help Lisa and her husband?
She assessed their finances using their credit reports and bank statements. She asked them to ‘tidy up’ their outgoings by looking at each direct debit and cancelling ones that weren’t a necessity, by making sure everything was registered at the right address (mobile phones, electoral roll, bank accounts, etc.), and suggesting ways that could help them to improve their credit score. This is a long process, which takes a few months to make a difference, so it is a good idea to get someone, like Nadine, on board about a year (or longer!) before you plan to buy a house, so that your credit score and finances are at their best potential. The couple also used an ex-forces solicitor for the conveyancing side of things, as they again felt that someone who had first-hand experience of military life would be able to relate to them better.
Working from experience
After tidying up their finances and improving their credit scores, Nadine contacted various mortgage lenders that she knew, from experience, would be able to offer a mortgage to a military couple. Instead of the initial 80-90k that Lisa and her husband would have been offered before enlisting Nadine’s help, they were now offered a mortgage of up to £212,000!
They had a few hiccups initially with the first house that they wanted; it just wasn’t meant to be. Nadine was with them every step of the way; helping them to tackle every hurdle, piece of paperwork and providing unrivalled Forces Help to Buy guidance. Nadine also gave them emotional support throughout their home-buying process, which Lisa commented was a “lovely extra touch”.
Lisa said that the extra amount that they got offered for a mortgage was life changing for them: “It changed the way we thought about [buying] houses. It’s made such a huge difference to our lives, just the little things like being able to come home from work every night instead of staying with friends due to a long-distance commute, and spending our extra time decorating our forever home together.”
Lisa and her husband were so determined to get their dream home, and with Nadine’s help, they did; “Everything that Nadine gave us to do with our finances, we went away to achieve it”.
If, like Lisa and her husband, you dream of escaping married quarters and owning your own home*, please get in touch on 033 033 22614 or email firstname.lastname@example.org www.forcesfamilyfinance.co.uk are qualified, whole of market brokers who specialise in dealing with military personal and their families, that is because they are all from forces families ourselves.