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Lsap £15000

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The Logitician

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I have heard a rumour that the LSAP is going up to £15000 this year. Spoke with PSF but the person was new and unsure. It's not just one person i have haerd this from but a few.

Just want to know if this rumour has got around anywhere else, or if anybody has any gen.

Thanks.
 
not heard te rumour yet myself but that doesnt mean it aint gonna happen.

If it is to happen an official Briefing Note will be issued and disseminated, until then its still rumour and you shouldnt make any plans
 
I have heard the £25000 rumour banging about for a while now. I'm sure whatever the increase is it will be very welcome by those struggling to get their foot on the property ladder, if it happens.
 
A rumour I heard was that it was going to be a years salary. So rumours abound from £15k to £200k! It would be good if it did go to a years salary but I don't see it happening, I think the best we can expect is £10k.
 
Unless they change they change the tax liabilites on amounts over £5000 I dont think its worth while.

Although if they could wave the liabilities and push the value upto £20k it might give a bit of a boost to the housing market.
 
The RAF Families Federation have had an input into this year's pay review (as, presumably, the Army and RN equivalents). I know LSAP/Assisted House Purchase was something they were trying to get improved. I guess we'll find out whether they were successful quite soon.....
 
Lsap Plans

Lsap Plans

I have paperwork in front of me that states " A number of options have been looked at but in the current financial climate most are just unaffordable. For 2009 the HOPE is that LSAP can be increased to 15K for first time buyers........whether this can be afforded depends on the outcome of the planning round"- I take it by "planning round" they mean AFPRB which we know is yet to be released. I got this document with other juicy information from My chief clerk when enquiring about the new 15k commitment bonus.:PDT_Xtremez_28:
 
I recently asked the shineys at my unit about this, and they said as of 1st April 2010 it was being increased to £15000 (but they they didn't say if that was going to be taxed)
 
commsordeath said:
I recently asked the shineys at my unit about this, and they said as of 1st April 2010 it was being increased to £15000 (but they they didn't say if that was going to be taxed)
Click to expand...

LSAP cannot be taxed. It is classed as a benificial loan, well any amount over £4999 is anyway. Currently if you were to take the current £8500, you would pay around £13 per year tax split over the months, so £15000 would be in the area of around £25, if it is taxed the same way.

Good news if it does go up to £15000, will help lots of people out including myself
 
Yet again more rumours, with April 2010 coming up with a new AFPRB due, anyone heard of an increase in the LSAP, latest i heard was it will be £20000, a lot i know, i though it would be more like £15000.

As the board said last year it was going to be looked into the end of 2009, anybody heard anything?
 
I haven't heard anything else reference the rumours that have already been stated - it has been quite a widespread rumour ref LSAP increasing to around £15K - £20K. It will not increase to a years pay like some have stated as any amount will needed to be paid back if you leave the service before you have paid it back. Therefore if it did increase to a years pay, your final lump sum may not clear it. As it was explained to me by the admin type people - the maximum it could ever go to would be up to the lowest lump sum that anyone could get when they leave at the 22 yr point. Listening to the many rumours ref LSAP I think 15K would be the best that could be expected.
 
ResidentEvil said:
...Therefore if it did increase to a years pay, your final lump sum may not clear it. As it was explained to me by the admin type people - the maximum it could ever go to would be up to the lowest lump sum that anyone could get when they leave at the 22 yr point. ...
Click to expand...

On that note bear in mind that when you leave the service if you have any outstanding LSAP to pay back the system will attempt to recover the whole amount from your final months pay packet. For instance if you have £800 remaining to pay back you will have £800 taken from your last months pay. If you have £3000 remaining to pay back the system will take all of your last months pay and then you will have to find the outstanding sum from elsewhere (lump sum).

Sounds bizzarre doesn't it, but it's true and it happens. It happened to me 2 years ago, I found out just 3 days before my final months pay (!) was due to go into my bank. No matter who's desk I thumped there was nothing that could be done by anyone, LSAP is seen differently, by 'the system', to any other outstanding financial issue - i.e. the kind where the system can take back only 50% of your daily wage. It was most certainly one of those heart-stopping, stomach-dropping, holy fcuk moments when I opened the paychit and it said "Amount to be paid - £0.00" :PDT_Xtremez_09:

Fortunately I was already working and was able to shuffle some money around to cover mortgage payments, etc. OIC Money in PSF took pity on me after I pointed out (rather loudly, sorry Ma'am) that I'd put 28 years into the defence of Queen & Country and felt let down, blah, blah, blah. She pointed me in the direction of someone at somewhere else who hastened payment of my lump sum - it got paid into my bank 2 days after my last day in.
 
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As a complete aside be wary of some lenders not accepting LSAP as a deposit as it is technically a loan. I have a friend having this issue at the moment and they took the LSAP monthly payback off his income to recalculate his mortgage amount.

If they do increase to £15k then my kitchen extension may get built this year after all!!
 
No increase to LSAP (same level for 2 decades)

MOD confirmed they were aware of us and varoius others deeming it insufficient but although they would of liked to have increased it they couldn't afford it!!

Crikey!
 
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