January 2020 – LATEST NEWS
The FHTB scheme was originally designed to last 3 years, from April 2014. However the latest news from the MoD is that the cheap loan scheme for serving military personnel has now been extended until “the end of 2022″.
Forces Help To Buy [or FHTB] is the new MoD interest free home loan scheme set up in April 2014 to help serving UK armed forces personnel to purchase their first home, or move house.
So if you’re serving in the UK Armed Forces, and you would like to move out of service accommodation to get your foot on the property ladder, the Forces Help to Buy Scheme could make all the difference.
How much can I borrow under the scheme?
FHTB Is a huge improvement on both the old Long Service Advance of Pay military home loan scheme and on AFHOS. This MOD backed loan allows you to borrow up to half of your salary – although borrowing is subject to a maximum of £25,000.
Hurry, the FHTB loan offer may not last forever
The latest we’ve heard from the government is that the scheme will be open for new borrowing until at least the end of December 2022, and already £280 million has been used to fund these military home loans.
Buying a new home using a Forces Help To Buy Scheme? We can help with the conveyancing
Here at solicitors Bonallack and Bishop, our property team has more than 20 years experience in assisting hundreds of serving Armed Forces personnel nationwide in buying their own homes – and we offer 10% discount on all of our legal services for all current serving and retired members of HM Armed Forces.
We are also members of Forces Law – the only national network of specialist military law solicitors. So for specialist advice from a law firm which really understands the military and this new military help to buy scheme;
• Call us directly today locally on  422300 or on FREEPHONE 0800 1404544 for a FREE quote OR
• Visit our specialist military law website at http://military-lawyer.co.uk for more about the other specialist legal services we offer to our military clients OR
• E-mail our team using the contact form below