Annington, first and foremost, has a long-term leasehold interest in the Ministry of Defence (MoD) married quarters estate. Homes which the MoD independently decides it no longer requires are handed back to Annington. This regular flow of properties is an important part of our business. Typically, we refurbish and sell these properties. In doing so, our philosophy is to provide good quality, value for money homes.
Until recently, 30% of Annington homes had been sold to Service or ex-Service personnel, but this is reducing steadily due to changes in the accessibility of the United Kingdom residential property market. Service and ex-Service personnel have benefited from a variety of discounts totalling over £13 million. Over the long-term, 46% of those buying an Annington home have been first-time buyers.
We always try to offer our homes at competitive prices with the most appropriate financial incentives, the aim of which is to make house purchase affordable for more people. We aim to create environments in which people want to live by uplifting street scenes, improving landscaping and changing the external appearance of the homes so that some individuality and variety can be incorporated into areas that might have lacked it previously.
We ensure that our homes meet basic safe and sound criteria so that electrical, plumbing and heating systems are thoroughly checked and defects or issues that might affect a mortgage are rectified.