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LSAP Info

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frien_dd

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I am looking at applying for LSAP but am after some info.

I know that the max amount is £8500, but I would only be after £5000 for the deposit on our house.

How does the process work? Do I just apply on JPA and fill out required form without putting an amount on and Gosport and my solicitor do the rest?

Any info will be grateful

Many thanks

frien_dd
 
JSP 752 (or 754) is your best bet to get the proper information if I remember correctly. Need to read it a few times to interpret it no doubt but it is the best place to start for eligibility criteria etc.

Hope this helps.

PS..JSP 752 can be viewed on the internet unless that has changed since.
 
I recently applied for LSAP. Fill in the form with all relevant info and give to HR staff and that’s it. Normally takes up to six weeks for your solicitor to receive a cheque. The solicitor does all the correspondence with the RAF, you do nothing, it really is a simple process. Depending on what contract you are on depends on how you pay it back, I have a year’s grace, then next year I am in my last ten years of service at which point I start paying £70 a month deducted at source.

You can take the full amount of LSAP and use it towards stamp duty etc.

Regards

Scott
 
agree, take the lot as you can use it for fees stamp duty the lot.
 
There's been a change in thr procedure.

Apply online, and fill in the form, get it signed and sent off.

It takes up to 8 weeks. Therefore assume it will take 8 weeks.

Do not expect it to take less as you may be disappointed (a lad yesterday almost lost his house because he only gave himself 6 weeks).
 
muttywhitedog said:
There's been a change in thr procedure.

Apply online, and fill in the form, get it signed and sent off.

It takes up to 8 weeks. Therefore assume it will take 8 weeks.

Do not expect it to take less as you may be disappointed (a lad yesterday almost lost his house because he only gave himself 6 weeks).
Click to expand...

Off TopicOnly in the RAF fill in a form online and on paper.
 
If my wife is applying for a mortgage solely (my credit ratings w@nk) can I apply for LSAP or does my name have to be in the mortgage?
 
Today, a Kier homes have just made me an offer and they wish to complete by christmas. As just sorting out mortgage etc, do I have to have solictors and mortagae in place before I apply for LSAP?
 
rumney125 said:
Today, a Kier homes have just made me an offer and they wish to complete by christmas. As just sorting out mortgage etc, do I have to have solictors and mortagae in place before I apply for LSAP?
Click to expand...

You can apply for an 'eligibility check' now, which will confirm your eligibility and repayment timescale based on the information you supply.

You will need mortage and solicitor in place before your formal application as the LSAP team need to send a document to your solicitor for you to sign and they will need confirmation of the mortgage offer and purchase price before you can go ahead.
 
rumney125 said:
Today, a Kier homes have just made me an offer and they wish to complete by christmas. As just sorting out mortgage etc, do I have to have solictors and mortagae in place before I apply for LSAP?
Click to expand...

See post #7 on this thread and bear it in mind. Dont get disappointed if your LSAP is not processed in time.
 
Without wanting to de-rail this thread; how long can we expect LSAP to remain as it does? I'm thinking in terms of SDSR and money saving measures.
 
clungemobile said:
Usual rumours about it being withdrawn but as far as I know no decision has yet been made.
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Can see it being reasonably safe as after all it is a loan. Plus pushing home ownership reduces the service housing requirement therefore reducing costs - win, win?
 
Little Tronk said:
Can see it being reasonably safe as after all it is a loan. Plus pushing home ownership reduces the service housing requirement therefore reducing costs - win, win?
Click to expand...

Fair point. I'm looking at using LSAP to fund the majority of a deposit so will scour the link provided and then speak to PSF. Cheers.
 
Right, is everyone eligible for LSAP as long as they have served the required time and not using the property as a business (buy to let)?

I'm thinking along the lines of pers serving overseas.
 
unruly1986 said:
Right, is everyone eligible for LSAP as long as they have served the required time and not using the property as a business (buy to let)?

I'm thinking along the lines of pers serving overseas.
Click to expand...

Where you are serving does not affect your eligibilty but there are other eligibility rules to be met and you need to read JSP 752 Chap 2 Sect 4.
 
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