Over 4,000 members of the British Armed Forces have had applications approved to buy a home under the Forces Help to Buy scheme. Read the MOD article here.
The Forces Help to Buy Scheme is aimed at supporting first-time buyers and those who have to move home because they are assigned elsewhere. Regular service personnel will be able to borrow 50% of their salary up to a maximum of £25,000.This loan is interest free and is repayable over 10 years but cannot be used for the purchase of a second home or buy to let property.
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