Forces Help to Buy Scheme
Access to lenders who are accepting Forces Help to Buy as a mortgage deposit
Access to lenders who are accepting Forces Help to Buy as a mortgage deposit
You do not have to be married or have children to apply – single service personnel can also apply. The aim of the scheme is to address the low rate of home ownership within the armed forces whilst meeting the aims of the Defence Accommodation Strategy in recognising the positive impact owning a home can have during an inherently mobile career.
Who’s eligible for the scheme?
To be eligible for the Forces Help to Buy scheme individuals will:
- Have completed the pre-requisite length of service
- Are not a reservist or a member of the Military Provost Guard Service
- Have more than six months left to service at the time they apply
- Meet the right medical categories
What do the repayments like for the scheme?
This will depend on how much you borrow but the loan amount is divided into monthly repayments, over 10 years. There is also the option to make overpayments if you wish.
You can opt to start making the loan repayments straight away, six months after receiving it or in your final 10 years of service.
What can the Force Buy to Help Scheme be used for?
Over 27,500 people have taken advantage of the scheme. The advance that you’re receiving can contribute towards a house deposit, solicitor’s fees, estate agent fees and in some extenuating cases can be used to adapt a current property as your family’s needs change.
How can we help?
If you’re looking for a mortgage to purchase your first residential home or looking to move house (with or without the Forces Home to Buy Scheme) get in touch with us today! We have access to lenders who accept the Force Help to Buy Scheme and we offer a no-obligation initial discussion about your mortgage requirements.
Contact the team on 01270 443510 or complete our enquiry form and we’ll be in touch as soon as possible