Should the Royal Navy reject your application due to your financial circumstances?

Dead0rAlive · 2 Jun 2008 at 13:37

Ok.. here's the deal.

I am 27, looking for a career in the Royal Navy.

I've just been told, basic wages during the 28 weeks of initial training will be £700 a month.

I've got a mortgage that costs me £1100 a month.

They said because of this I will be unable to join as they do not give financial aid.

I think it would be a good idea if they did. As these days almost anyone with a mortgage, rising fuel, and food prices can barely afford to live as it is.
So when someone, like myself, is willing to serve for the Royal Navy for a minimum of 5 yrs for example, why cant they afford to help? A financial aid package where you can pay them back as and when you achieve your profession within the navy.

Any views on this?

JBuk · 2 Jun 2008 at 13:39

why should they pay your mortgage?

[TW]Fox · 2 Jun 2008 at 13:39

Why should they pay for your shortsightedness and poor financial planning?

If you commit yourself to a mortgage you must first ensure you will have the means to pay it back every month and realise the constraints this will then place on your future choices!

Morba · 2 Jun 2008 at 13:39

Because they are not made of money, hell they struggle to kit out troops properly, why on earth would they be paying people more money to live somewhere.

sell the place while you are in the forces then buy again when you are out.

Would a private company pay you more just to cover your mortgage? what about when rates go up? would you then ask for more money again?

Ross1234 · 2 Jun 2008 at 13:40

Are you completely thick? Why would they pay your mortgage? Infact why would we pay your mortgage as it comes out our tax?

Dead0rAlive · 2 Jun 2008 at 13:41

I'm not asking to pay it off.. I'm asking for aid during the 28 weeks of training. After which you specialise in something that pays you more money, then you begin paying it back.

schnipps · 2 Jun 2008 at 13:42

So if i come out of my fixed rate and say the base rate is something hideous like 9% its like me asking my boss for an extra 400 quid a month because of that, what about all the others that live in cheaper houses its not going to go down very well. May aswell get a 3k a month mortgage and just go work in the navy everyone would do it.

JBuk · 2 Jun 2008 at 13:42

get a pause on your mortgage for a few weeks ?

Dead0rAlive · 2 Jun 2008 at 13:44

JBuk said:
get a pause on your mortgage for a few weeks ?

Cheers Buk,

Thanks for the tip. I'll look into it.

scorza · 2 Jun 2008 at 13:45

JBuk said:
get a pause on your mortgage for a few weeks ?

That's a good idea - or rent your home out, rental prices are going up atm.

Morba · 2 Jun 2008 at 13:45

Dead0rAlive said:
I'm not asking to pay it off.. I'm asking for aid during the 28 weeks of training. After which you specialise in something that pays you more money, then you begin paying it back.

save some money to cover the loss in earnings during that time.....

Sagalout · 2 Jun 2008 at 13:47

Dead0rAlive said:
I've just been told, basic wages during the 28 weeks of initial training will be £700 a month.

I've got a mortgage that costs me £1100 a month.

They said because of this I will be unable to join as they do not give financial aid.

I'm confused. Did they tell you that you couldn't join because of the amount of your mortgage, or did you decide you couldn't join because the £700 a month wouldn't be enough money for you?

If they told you you couldn't join then that I agree that would be strange, because you could save up a cushion of money to get you through the 28 weeks. If its you saying the £700 isn't enough, well, sorry, but that's not their fault. You have to plan your own financed in life. If you've over stretched yourself on the mortgage and have no savings I wouldn't be happy as a tax payer to subsidise your mortgage whilst you train.

Skidder · 2 Jun 2008 at 13:51

Do you have a wife / partner (hey it is the navy

?) that pays the mortgage with you? Family? Will you be living in the property during training?

Dead0rAlive · 2 Jun 2008 at 13:51

scorza said:
That's a good idea - or rent your home out, rental prices are going up atm.

Morba said:
save some money to cover the loss in earnings during that time.....

If I could rent my house out I would. In fact I wouldn't be here asking thick questions giving poor Ross1234 a hard on about it. But the truth is that the mortgage is not for me. I am paying it for my mum who is ill and can't work. The same goes for saving money.

Orcish-Horde · 2 Jun 2008 at 13:51

Dead0rAlive said:
.

I've got a mortgage that costs me £1100 a month.

They said because of this I will be unable to join as they do not give financial aid.

You're up to your neck in debt the Halifax wouldn't even touch you.

[TW]Fox · 2 Jun 2008 at 13:56

Dead0rAlive said:
If I could rent my house out I would. In fact I wouldn't be here asking thick questions giving poor Ross1234 a hard on about it. But the truth is that the mortgage is not for me. I am paying it for my mum who is ill and can't work. The same goes for saving money.

If its becoming a financial burden then you must downsize.

wordy · 2 Jun 2008 at 14:09

one other thing to think about. you won't jump from £700 to enough to cover your mortgage and other living expenses anyway.

You've got basic training, trade training, your 1st ship/deployment, then your 1st class course then more ships/deployments until you're passed for Leading hand. It's going to take a good few years until your earning enough to cover the mortgage, living expsenses, travelling costs.

Don't forget aswell that when you go foreign you'll want spending moeny to go ashore with. The last thing you want when you're doing a 7 month deployment to the West Indies is to be stuck onboard ever night.

Morba · 2 Jun 2008 at 14:11

Dead0rAlive said:
If I could rent my house out I would. In fact I wouldn't be here asking thick questions giving poor Ross1234 a hard on about it. But the truth is that the mortgage is not for me. I am paying it for my mum who is ill and can't work. The same goes for saving money.

cant get money on the sick from government?
if she is too ill to work, does she really need a place that is costing £1100 a month for a mortgage? (guessing shes not in a flat in an expensive area, more a normal 3 bed somewhere).

Dead0rAlive · 2 Jun 2008 at 14:13

wordy said:
one other thing to think about. you won't jump from £700 to enough to cover your mortgage and other living expenses anyway.

You've got basic training, trade training, your 1st ship/deployment, then your 1st class course then more ships/deployments until you're passed for Leading hand. It's going to take a good few years until your earning enough to cover the mortgage, living expsenses, travelling costs.

Don't forget aswell that when you go foreign you'll want spending moeny to go ashore with. The last thing you want when you're doing a 7 month deployment to the West Indies is to be stuck onboard ever night.

Thanks for the experience feed back Wordy. Much appreciated.

Sankari · 2 Jun 2008 at 14:15

Sounds like the navy is acting responsibly.

Where's the problem here?

:confused: