According to the website GOV.UK there is a relatively low rate of home ownership in the armed forces.  To help and encourage service men and women to get on the property ladder, move home due to reposting or change their home as family needs demand, the Ministry of Defence have introduced the Forces Help to Buy (FHTB) Scheme.  
The new scheme allows members of the armed forces to borrow up to 50% of their annual salary (maximum of £25,000), interest free, as a deposit for their purchase or remortgage.
The pilot scheme, which will run for the next three years, starting today, is not designed to reduce the amount of personnel in service accommodation, this is still an option if you wish, but to aid members of the armed forces in making that leap on to the property market.
Forces Help to Buy, your route to home ownershipChief of Defense Personnel, Lieutenant General Andrew Gregory, said:
“Through our work on the new employment model and the armed forces covenant we are continually striving to make improvements to those aspects of life outside of service which we know can be adversely affected by life in service.
“In particular we are keen to address the demand for greater stability, including access to home ownership, and an improved ability to exercise choice in the way our people live their lives.
“And so it is a hugely positive step forward that we are able to introduce the Forces Help To Buy scheme today, a year ahead of our original plan.”

So who is eligible?

  • You must have completed a pre-requisite length of service.
  • You must have more than six months remaining to serve
  • Meet the right medical categories, however, extenuating medical and personal circumstances will be considered.
There are a number of different lenders that will already stated that they will accept the Forces Help To Buy Scheme as a form of deposit without being punitive.  However,as always it is important to find a lender and product that suits your overall needs.  At DALES we will search the market to find the right deal for you. Why not contact us today on 01636 870 069 to discuss how we can help or why not look at our best buy tables Mortgage Best Buys.

Philip Dales Dip PFS Certs CII (MP & ER)
Philip Dales is principal at DALES Independent Financial Advisers, based in Newark and Nottingham. He has been an adviser for over 17 years helping many clients, including those in the forces with all aspects of financial planning, and retirement. For more information on this or any other aspect of financial advice contact t: 01636 870 069.

If you would like more information on this scheme and/or obtaining a mortgage, please contact us by email at or by telephone on 01636 870 069 for more information or have a look at our web site Please note that this article does not represent advice, and the Forces Help To Buy Scheme, may not be suitable for you. P N DALES Ltd is authorised and regulated by the Financial Conduct Authority. 
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The system can either show you a Best Buys Table based on a set of questions or you can drill down and to a more specific range of products suited to your needs. You can then select the mortgage you like the look of and select the email button. We will then help check that you fit criteria and help submit your application.
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Long time no post,

We’re in the middle of a major site redesign right now, and will update the blog as and when we expect the site to go live.

Within the new site will be an annuity comparison tool, you will be able to enter the value of your pension fund and find out who will give you the best annuity. A similar tool will exist for life cover, and you will be able to apply for cover online. A mortgage comparison tool will also be added.

With all three of these systems they will as you would expect from DALES independent financial advisers, search and compare the Whole of the Market.

However, it is always worth discussing your situation with an adviser before going ahead. Often with a mortgage while you may see a deal that looks fabulous, its important to remember that even our comparison tool, can not take every part of your situation into account, and has to make some assumptions. Annuities are slightly different, for example your pension may be a S32, and as such not all providers will accept an open market option, or immediate pension purchase, without affecting the level of Tax Free Cash you may be entitled to. With Life cover there is less of an issue with acceptance criteria, here it is more to make sure you buy the most cost effective solution for your situation, is level term assurance or Family income benefit better for your situation? Speak to one of our advisers and we can guide you through the variety of options.

We have offices in both Nottingham and Newark tel: 01636 642 844. DALES Independent Financial Advisers –