All regular serving personnel who have completed 12 months’ service are now eligible to apply for the Forces Help to Buy scheme, which can help military families to buy their own home.
The scheme allows regular serving personnel to borrow an interest-free deposit of up to half their annual salary. The loan, which has to be repaid over 10 years, is capped at £25,000.
The eligibility criteria have now been changed so that soldiers can apply provided they have completed 12 months’ service from their date of enlistment and Phase 1 training.
For more information see the Military Allowances page.
POSTED ON 26 JUNE 2020