A NEW financial services firm is aiming to meet the specialist needs of military personnel and veterans.

The Military Mutual will launch on April 29 and is led by ex-military personnel from all three services, with experts in financial mutuals.

As a mutual, the organisation is owned by its members and is free of outside shareholder interests.

Major General Sir Sebastian Roberts, chairman of the Military Mutual said: “For too long, members of the military family have been a square peg in a round hole when it comes to financial services.

“Their needs are different to the average consumer and the financial services community has never really woken up to this.

“Those that have served their country, or are transitioning into civilian life after a tour of duty deserve better. Better value and better values.”

Martin Shaw, chief executive of the Association of Financial Mutuals said: “The launch of TMM is a welcome new addition to the mutual industry.

“In order for consumers to get a fair deal from the financial services industry, we need to see more mutuals capable of challenging banks and insurers.”

The Military Mutual will be offering its first two products, home and motor cover, in its 60 day countdown from its dedicated Portsmouth service centre - 0800 088 2283.