The government’s Forces Help to Buy scheme allows servicemen and servicewomen to borrow up to 50 per cent of their salary (up to a maximum of £25,000) interest-free, to buy their first home or move to another property on assignment or as their families’ needs change.
The money can be used towards a deposit and other costs such as solicitor’s and estate agent’s fees. The loan can be repaid over a period of up to 10 years.
The scheme was due to end on 31 December 2019 but has now been extended to 31 December 2022.
Forces Help to Buy is available to regular forces personnel who
• Have completed the pre-requisite length of service.
• Have more than six months left to serve at the time they apply.
• Meet the right medical categories.
Servicemen and servicewomen can apply for the loan online through the Joint Personnel Administration system and can seek advice on their application through their Chain of Command and personnel agency.
Forces Help to Buy can be used alongside Help to Buy when you buy a new home from us.
Find out how Forces Help to Buy could work for you by calling one of our sales advisors on 0845 450 7872.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBT SECURED ON IT.
Back to How to Buy