Almost 9,000 service personnel have benefit from Forces Help to Buy, why not you?

Those serving in the Army, RAF or Navy can struggle to get on the property ladder; they are not always based in the UK and can find it harder to raise a deposit.  These members of our society make a commitment for our country and so in April 2014, the Forces Help to Buy Scheme was launched.  Earlier this year, for their two year anniversary it was announced that loans have reached £100million.

Since April 2014, more than 6,640 people in the military have bought homes using Forces Help to Buy, and almost 2,000 more applications are approved and awaiting completion.  Success was seen only six months after the launch in 2014, with 3,220 benefitting in the first six months.

Forces Help to Buy allows those in the military to borrow 50% of their salary, up to £25,000, to go towards the costs of buying their first home or move to another property should their family circumstances change.  The loan can not only be used for a deposit, but also towards other associated costs with buying a home, such as solicitors and estate agents fees.

“The Forces Help to Buy scheme gives those in service the opportunity to move out of married quarters and have their own property they can be proud of to make it a home for their family,” comments Sarah Brooks, Residential Conveyancing Partner.  “Here at Warner Goodman LLP we have experience of working with people in the military, and a number of the team are married to service personnel.  We therefore understand the pressures that come from working way from your family and the complications that can arise should you be deployed after you instruct us.  We are well prepared to work with you under these circumstances.”

As well as being able to benefit from Forces Help to Buy, military personnel can also take advantage of a 5% discount from the Residential Conveyancing team at Warner Goodman LLP.  To find out more about the Forces Help to Buy scheme, click here, or you can contact the team on 02392 776510 and quote 05.

ENDS

This is for information purposes only and is no substitute for, and should not be interpreted as, legal advice.  All content was correct at the time of publishing and we cannot be held responsible for any changes that may invalidate this article.