If you would like to use the service, please make enquiries now so that you don't miss out!
The pilot scheme, which launched in April 2014 and has now been extended to 31 December 2019, aims to address the low rate of home ownership in the armed forces.
The Forces Help to Buy scheme enables you as servicemen and women to borrow up to 50% of your salary, interest free, to buy your first home or move to another property on assignment or as your families needs change.
This scheme allows you to borrow up to 50% of your annual salary, to a maximum of £25,000. This can be used towards a deposit and other costs such as solicitor’s and estate agent’s fees.
Are you eligilble?
You could benifit from this scheme if you:
- have completed the pre-requisite length of service
- have more than 6 months left to serve at the time you apply
- meet the right medical categories
There may be instances where exceptions to the standard rules may be justifiable, especially where there are extenuating medical and personal circumstances.
How do I apply?
You can apply for the loan online through JPA and can seek advice on your application through your Chain of Command.