Monday 30 Sep 2013 @ 13:05
Ministry of Defence
Ministry of Defence
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New housing scheme for Service personnel
The Armed Forces are to benefit from a new £200 million scheme to help them get on the property ladder.
The new Forces Help to Buy scheme will mean servicemen and women can borrow up to 50% of their salary, interest-free, to buy their first home. The measures will allow Service personnel to borrow up to a maximum amount of £25,000, providing a boost to those needing to find a deposit to buy their own home.
Starting on 1 April 2014, the scheme will initially cover a 3-year period and help address the low rate of home ownership in the Armed Forces.
