The Government has extended its Forces Help to Buy scheme until the end of 2022.
The scheme allows Military personnel to borrow up to half of their annual salary to use as a deposit to buy a house, extend their current home or move to another property. The loan is capped at £25,000, is interest free and can be repaid over 10 years.
To apply you must:
- Be in regular service
- Have served 2 years or more
- Have at least 6 months left to serve at the time of application
- In the last 12 months have not owned a property within 50 miles of the proposed purchase (exceptions will apply)
The scheme has proved popular with Military personnel with the Government lending out more than £280m to around 18,000 borrowers since its launch in 2014*. This extension is good news as it will give even more people the opportunity to get on the property ladder.
Ask us about Mortgages and using the Forces Help to Buy scheme
The Forces Mutual Mortgage Advisors will offer mortgage advice based on your individual needs and circumstances to find the right mortgage for you, including those wishing to use the Forces Help to Buy scheme.
- Our advice is free
- We’re totally independent and impartial
Forces Mutual provides free mortgage advice and receives a commission from the mortgage lender which we use to fund this service.
To find out more and book at appointment:
Call: 0151 363 5290
Your home may be repossessed if you do not keep up repayments on your mortgage.
*Source: Gov.uk October 2019
Mortgage Excellence Plc, trading as Forces Mutual, is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales No. 03527577. Registered office: Alexandra House, Queen Street, Lichfield, Staffordshire, WS13 6QS.