We bought our first property in the UK near Wootton Bassett in the late 1990s (guess where I was serving?). Our first mortgage lender (our bank) were absolutely useless (and expensively so). We changed the mortgage 3 years later (the lenders let us go early as an acknowledgement of their cock-ups) and since then we have used a well-known brokerage based in Bath, who are fee-free, L&C. The firm, of course, gets a fat finders fee from the lender. We have had about 5 or 6 mortgages since then, all on very good rates and, more importantly, with lenders that understand and accept the 'exingencies of the Service'. Their broker rings me up ever 6 months or so and reviews the situation and has, in the past, come up with some stonking deals...like our current BOE BR tracker!
The important thing is to fully disclose intentions to the propsective lender, such as having to let the property when abroad (there are issues with the Proceeds of Crimes Act 2003 which the lender must be satisfied with and cover off). Our current mortgage lender (C&G) waived the admin fee when we commenced letting the property last year as a top-of-the range holiday let; I wrote to them explaining our situtation, providing evidence that the property would be professionally managed etc, and gently reminding them that in our application we had discolosed the possibility of letting the property because of my Service obligations.
Although I am no friend of the Financial Services industry, I have been pleasantly surprised how many firms will make a genuine attempt to assist Service personnel and their families (probably knowing that their salaries are reasonably secure). In addition to getting permission from the lender to let the property last year, I also got a nice letter back wishing me and the family well, and hoping that I would 'keep safe'.
I do feel for those (mainly Army personnel, it seems) who have been left high and dry by the collapse of the rental and property management agency called 'Blue Force'. Any PPruners affected by this?