New Housing allowance under COS 08
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New Housing allowance under COS 08
In the recent publication from the AOA, it was mentioned that the Housing Allowance for owner/occupier would change from 15 years to 25. Details to be sorted...
Is this applicable only if you are on COS 08 or is it irrelevant of either COS?
What happens e.g. you started a loan with $50,000 per month repayment based on 15 years (just as an example)...and the company changes it to 25 years? Do I now have to go back to the finance company to change the terms?
Or are we grandfathered under the old scheme? Any new purchases without having used ANY allowance previously is then based on 25 years. Say an officer used 4 years out of the 15 sold...now wishes to purchase something...does the officer then have 21 years at the new rate? What if he/she had previously opted for the fixed option? Or does the officer still get another 11 years at the previous fixed rate?
Anyone know the answer or was it explained over the page
Is this applicable only if you are on COS 08 or is it irrelevant of either COS?
What happens e.g. you started a loan with $50,000 per month repayment based on 15 years (just as an example)...and the company changes it to 25 years? Do I now have to go back to the finance company to change the terms?
Or are we grandfathered under the old scheme? Any new purchases without having used ANY allowance previously is then based on 25 years. Say an officer used 4 years out of the 15 sold...now wishes to purchase something...does the officer then have 21 years at the new rate? What if he/she had previously opted for the fixed option? Or does the officer still get another 11 years at the previous fixed rate?
Anyone know the answer or was it explained over the page
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Something tells me that this mess has only just begun. Typically, CX has accomplished their usual result of making something needlessly complicated even more needlessly complicated. It defies belief that these people consider themselves 'good' at their jobs. The total shambles they have made of Flt Ops over the past 15 years is stunning. I have no doubt that COS08 will have to be withdrawn, or will suffer so many revisions that it will not resemble the original document in any recognisable way. What a bunch of utter wally's. 
Last edited by Apple Tree Yard; 23rd Apr 2009 at 20:57.
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If you read the AOA thread about this it seems that the 25 year deal saves the company money...! How is that a win for us? Therefore it cant be the best deal for us! It seems like its a way of uniting the housing schemes of Dragon with CX so its easy for one housing department to manage both companies. I would assume when our housing deal for Cos 99 is on the table for renegotiating this 25year deal will be what the company will go for..
Surely RAT Management, to be able to use the housing allowance for 25 yrs is way better than for only 15.
For a start, you'll be able to afford somewhere decent and it should enable you to have it paid off by the time you leave.
Just because it's a win for CX doesn't mean it's automatically a loss for us.
Open your eyes a little more.
In mitigation though, I would expect that we shall have to have to sign away the option of moving into a decent rented place at top whack once the 25 yrs is up!
For a start, you'll be able to afford somewhere decent and it should enable you to have it paid off by the time you leave.
Just because it's a win for CX doesn't mean it's automatically a loss for us.
Open your eyes a little more.
In mitigation though, I would expect that we shall have to have to sign away the option of moving into a decent rented place at top whack once the 25 yrs is up!
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