Supporting Homeownership for Service Personnel

Launched on 1 January 2023, the Forces Help to Buy Scheme is an enduring policy, providing essential support for service personnel to purchase homes. The scheme allows members of the armed forces to borrow up to 50% of their annual salary, with a maximum loan of £25,000, interest-free.

The primary goal of this initiative is to improve homeownership rates within the armed forces, addressing the challenges posed by frequent relocations and supporting the Defence Accommodation Strategy. Owning a home can offer stability and improve the quality of life for personnel with inherently mobile careers.

Loan Amount and Usage

The Forces Help to Buy Scheme allows personnel to borrow up to 50% of their salary, capped at £25,000. The funds can be used to cover a variety of home-buying costs, including a deposit, solicitor fees, and estate agent expenses.

Eligibility for the Scheme

Eligibility for the Scheme All regular service members are eligible to apply if they meet these criteria:

Have completed the required length of service
Are not a reservist or part of the Military Provost Guard Service
Have more than six months remaining on their service contract
Meet the relevant medical requirements

Certain exceptions may apply, particularly relating to special medical or personal circumstances. This scheme is a valuable resource designed to support homeownership for those who serve their country, helping to provide stability in what is often an unstable lifestyle.

Get in touch

Our experienced mortgage consultants can assist you with Help to Buy, providing advice and reassurance.