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The new Forces Help to Buy scheme offers regular armed forces personnel a loan of up to 50% salary, capped at £25,000, interest free and repayable over a 10 year period. This is to aid those needing to find a deposit to buy their own home.
The scheme is being trialled initially for a three year period and is intended to help service men and women get on the property ladder.
It is intended that this scheme will support greater lifestyle choice and retention of personnel in the armed forces.
Forces Help to Buy can also be used in conjunction with Help to Buy: Equity Loan, so a deposit from personal savings may not be necessary. This combined use of both schemes presents a great opportunity for armed forces personnel to buy their first home or move to another with reduced mortgage rates.
Please click here to download our Forces Help to Buy buyers guide.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBT SECURED ON IT.
Subject to Forces Help to Buy terms and conditions. Available on new build homes only up to £600,000, subject to the government’s Help to Buy terms and conditions and only available to customers where a primary mortgage is secured. This offer is not available in conjunction with any other promotion. Full details will be provided on request.