New announcement on Forces Help To Buy scheme

The Forces Help to Buy Scheme has been made permanent by the Government, helping military personnel get on the property ladder.

The scheme enables those serving to borrow up to 50% of their gross annual salary – up to £25,000 – to encourage home ownership.

The loan is interest-free, repayable over 10 years, and is open to most regular personnel with at least 12 months' service.

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Minister for Defence People, Veterans and Service Families Dr Andrew Murrison said he was "delighted" to announce the scheme had been made permanent.

"This recognises the unique challenges that Service personnel and their families face and gives the opportunity to purchase a property to provide stability during their service."

The pilot of the scheme began in 2014 and will be made a permanent Ministry of Defence (MOD) policy on 1 January 2023 – with an expected 5,000 personnel using the scheme a year.

As well as supporting personnel and families, the scheme strengthens accommodation on offer, improved geographic stability for families and helps prepare personnel for life after the military, according to the MOD.

The MOD also said it has been "committed to making the scheme an enduring offer to support forces personnel in their ambitions to become homeowners".