27 March 2023
The Scheme is open to serving members of the armed forces and lets them borrow up to 50% of their annual salary - up to £25,000 - interest-free, to put towards a residential purchase. The loan is repaid in equal instalments over a 10 year period - deducted from their salary with a small insurance premium.
Just so you know, the Forces Help to Buy loan and insurance payments should be included as expenditure within the application so we know how much the customer will be paying. To keep things speedy, we don’t need the customer’s personal information note from the MoD which confirms their loan.
You can find full details on our lending criteria page.
If there’s anything else you need to know, have a chat with your Business Development Manager.