Thread: Tranche 2 Redundancies

Personnel who are eligible for redundancy will be informed today if they fall into the tranche two redundancy bracket. If the serving soldier’s name appears on the list this demonstrates that there will be redundancies in their trade and age/rank bracket – in most cases the number of soldiers eligible will be significantly larger than the number of redundees required. Soldiers will then have until 28 February to volunteer for redundancy. This tranche is expected to be significantly larger than the previous tranche and is the second of four rounds of redundancy for the Army. AFF recognises that this is an exceptionally worrying time for families who have built their lives and financial planning around their soldier’s Army career.

Read more on the AFF website and leave us a comment in the box under the article!

My husband is eligible, and seriously considering it. The only thing that really worries us is that they only have 6 months from being told whether they have it or not before they actually leave. This just gives us 6 months to find a house, sort out our finances and make sure the children are settled. It wasn't something we really considered before now, but all of a sudden its quite scary!

I've just had a look through the DIN. My understanding is that if you want redundancy apply for it by 28th February 2012, and then await the outcome from APC. If you are notified that you have been selected for redundancy then thats when the 6 month notice period begins. Plenty long enough IMO if you start the process today!

I was impressed that CEA applicants who have children undertaking exams will still be eligibile for the allowance

I wouldn't panic, Mrs M. The families federations published some very good redundancy help features last time around. Yes, getting a mortgage might be tough (again, the families trams can help with advice) but house prices are the lowest for years. Renting privately is quite high though, so it depends how quick you want to settle in one place.

As for the job market - and this is only what I know locally! - the tradesmen around here say their businesses are fine. There's a lot of hype in the media about no jobs but the jobs are there. Depends whether your OH has a trade or can retrain on resettlement courses before leaving.

I'm not saying life on civvy street is a bed of roses, but it needn't be a scary transition.

The job market isn't an issue, he's already been offered lots of jobs and asked to leave the army to fill them, so he's going to start talking to these people.
We'll definitely stay here because of my job, its fairly secure and I really enjoy it, the kids are settled where they are in school and childcare so don't really want to upset that.
Its just the buying a house in 6 months thing and whether we'd get a mortgage etc. If not, then we'll just have to rent, but thats dead money and we'd rather not do that. We've already said that it wouldn't be our "forever" home, just something we'd put up with for a couple of years til we're in a position to look for that perfect house.

You can apply for a mortgage in advance, actually that's what you should ideally do anyway. I'd start talking to a broker now to get an idea what you would be able to afford if I were you. I'm guessing you've got a rough idea what Mr M would be getting paid plus you've already got a job.

thank you Kazzam. this will be my first experience at buying a house - or even having my own house! I went straight from my parents into the RAF then into MQ's!!
I didn't realise you could apply for a mortgage in advance. We have a fair idea of the redundancy package, and we'll be in a great position to buy a house.

Yes, you can get an offer from Bank/Building Society in advance, it is certainly worth it, then you are ready to go, when you find your perfect home. Plus a lot of estate agents and people selling the house will insist on you having an offer.

Mrs M, without being rude, if you want any advice on mortgage rates and what to go for (as there are some good deals and some really cheeky ones!) then PM me, I work in finance, yes, I used to be one of those 'most hated people'- treasury banker... booo

Good luck and it will all come together!

Miss P

Thank you miss p thats very kind. PM inbound.

Does anyone know What happens if your aboard and made redundant?

Hi there,

There's some useful Q and As on our website at Redundancy

If the question you'd like an answer to isn't there you can email researcher@aff.org.uk and we will add it to the list and find the answer.

HTH

Thank you so much