Are you in the Armed Forces and looking at buying a property?
What is the Military Help to Buy Scheme?
The Military Help to Buy, aka Forces Help to Buy, scheme is an interest free loan of up to £25,000 that can be used towards your mortgage deposit and fees.
Listen to the 60 second clip and if you need to know more get in touch via email email@example.com.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Help to Buy for Armed Forces
Hello and welcome to today’s 60-second snippet into the mortgage world. The subject today is Forces Help to Buy.
So if you’re not in the forces you could switch off. If you’re thinking about joining the forces this could be something for you to understand.
Who is the Military Help to Buy scheme for?
If you are in the military, currently serving and you meet the criteria; two of those being you have more than six months left and you’re not medically discharged or going to be medically discharged, you can then opt into a deposit which is made up of a maximum fifty percent of your annual salary as long as it doesn’t cap twenty five thousand pounds. You can use that as your deposit.
Advice on Military Mortgages
There’s bags more criteria, bags more reader material for you available on the government website but that is something you can use as your whole deposit. The annoying thing is not all lenders even acknowledge it or accept it so speak to someone that knows and will be able to show you a recommendation that fits your circumstances.