"Understanding the Forces Help to Buy Scheme”

Regular armed forces personnel can now benefit from a ￡200 million scheme to help them onto the property ladder. This is currently a pilot scheme set to run for 3 years, with a key aim to address the low rate of home ownership within the armed forces. (this scheme includes soldiers & officers)

This scheme enables servicemen and servicewomen to borrow up to 50% of their salary interest free, to use as a deposit for their first home or to put towards another property on assignment. This comes with a maximum borrowing amount of ￡25,000 (for the deposit) which can also be put towards additional costs such as solicitor’s and estate agent fees. Available for a main residence only, you will need to have completed the pre-requisite length of service with more than 6 months left to serve at the time of application.

This is an excellent opportunity for those still serving who have found themselves struggling to get a deposit together. Service accommodation will remain available for any armed forces personnel who wish to continue using it.

There are many still serving personnel that have no idea about this scheme. Please share this post and tag anyone that can potentially benefit from this great opportunity!

PS. If you had known while still serving, would you have taken advantage of this scheme?