Date: Thursday January 2, 2020 at 12:55pm
There are a number of options to
help you buy a property... From government and Armed Forces affordable housing
schemes, to an interest-free advance of salary in the form of the Forces
Help to Buy scheme. You can also get valuable housing advice from the
Joint Service Housing Advice Office (JSHAO).
This section explains the
process of buying a property in the UK and how to choose the
right mortgage, based on your budget. It also includes information
about your buying and moving costs and some useful tips if you're a
first-time buyer (or just want some help going through the process again).
Services help
As a member of the Armed Forces you can
get financial help for the deposit in the form of an interest-free advance of a
salary (up to £25,000) through the Forces Help to Buy scheme. You also have priority status when applying for a property
in the government’s affordable housing schemes.
Make sure that you're in the best
possible position to be accepted for a mortgage. You should not be
disadvantaged because of your occupation.
For all housing information and advice
take a look at the Joint Service Housing
Advice Office (JSHAO) pages
on Gov.uk. The JSHAO publishes a 'Housing matters' magazine with useful
tips and information.
Where to buy
Choosing where to buy a property can be a
difficult decision for you when you are in the Armed Forces. You need to
consider where your career will take you.
Are you planning to rent the property out as you move round, or leave your
family there and serve unaccompanied? Do you choose to buy a property close to
extended family or close to employment for your partner? All these factors will
affect what, and where you buy.
There is no single right answer; you just need to be aware that your service
career is unlikely to leave you in the same place for long.
The choices you make will lead to costs
(and sometimes allowances to cover them) and you need to consider these as part
of your planning.
Our HomeFinder tool will show you property costs around the UK and how likely you are
to get a mortgage based on your current income and expenditure.
Did you know?
59% of Royal Navy personnel own their own
home, closely followed by the RAF (55%).
The Army
trails on 33%,
with the Royal Marines (46%)
languishing in the middle.
AFCAS Survey 2012