The Forces Help to Buy scheme has been made permanent as part of the Government’s enduring commitment to supporting our Armed Forces (19 December 2022).
The scheme enables Serving Personnel to borrow up to 50% of their gross annual salary (up to a maximum of £25,000) to encourage and support home ownership and enable the option to Self-Build. This advance is interest free, repayable over a maximum of ten years and is open to most regular personnel with more than 12 months’ service.
The Forces Help to Buy pilot initially began in 2014 and it will become an enduring Ministry of Defence policy on 1 January 2023. It is expected that approximately 5,000 Serving personnel will use the scheme per year to help them with home ownership.
A new scheme to help people make their dream of building their first home a reality opened for applications on Monday 27 June. Help to Build makes taking a first step onto the housing ladder by building your own home a realistic option, even with a smaller deposit. Applicants can borrow an equity loan of […]
Young couple sat down together, surrounded by cardboard packing boxes, looking happy.
The mortgage guarantee scheme has been extended by a year to the end of December 2023, helping more people with 5% deposits onto the property ladder. Under the scheme, the government offers lenders the financial guarantees they need to provide mortgages that cover the other 95% of a home purchase, subject to the usual affordability […]