Forces Help to Buy
If you’re in the armed forces and looking to get on the property ladder, then our Forces Help to Buy scheme is perfect for you.
Forces Help to Buy
An extension of the government’s Help to Buy scheme, Forces Help to Buy is designed to help servicemen and women buy their very own property by enabling them to borrow up to 50% of their salary, interest-free.
Launched on 1st April 2014, the Forces Help to Buy scheme will run for three years to assist first time buyers and existing property owners alike. During this period, members of the Royal Navy, Royal Marines, Royal Air Force and Army will be able to borrow the money needed to move into a new Lovell home.
Who is eligible for the Forces Help to Buy scheme?
Any member of the armed forces can take advantage of the Forces Help to Buy scheme, provided you meet the following criteria:
- You are in regular service
- You have completed the required length of service
- Have at least six months’ service left at the time of application You cannot use the scheme to pay off an existing mortgage, and it’s not open to those who have owned a home within 50 miles of the home they’re planning to buy, within the last 12 months.
How much money can you borrow with Forces Help to Buy?
The Forces Help to Buy scheme allows service personnel to borrow up to 50% of their annual salary, up to a maximum amount of £25,000. You can use this money for any of the costs involved in buying a house, including your deposit, solicitor’s fees or estate agent charges.
How can you apply?
To benefit from the Forces Help to Buy scheme, you can apply online through the Joint Personnel Administration system. To find out more information about applying for the offer, and exceptions to who can apply, take a look at the government’s Forces Help to Buy factsheet.For more information and for full terms and conditions
download the Forces Help to Buy Leaflet.