The Forces Help to Buy scheme has been extended for a further three years until the end of December 2022 in order to assist forces personnel in purchasing a new home, Precise Mortgages can also combine this with a traditional help to buy . Contatct Precise for a full information sheet on the number below.
What is the forces Help To Buy Scheme
The Forces Help to Buy scheme enables regular service men and women to borrow up to 50% of their gross annual
salary to a maximum of £25,000, interest free, over a period of 10 years.
The loan can be used to help them purchase their first home, move to another house or, in exceptional circumstances,
extend an existing property.
The scheme is open to all regular service personnel who:
Have completed the pre-requisite length of service
Have more than 6 months left to serve at the time they apply
Meet the right medical categories
For more information, visit https://www.gov.uk/guidance/forces-help-to-buy
How can Precise Mortgages help?
As a specialist lender, Precise Mortgages is always looking to develop products and criteria which meet the needs of
customers underserved by high street lenders.
To help your customer secure the mortgage they need, we allow funds from the Forces Help to Buy scheme to be used in
conjunction with our standard Residential and Help to Buy Mortgage ranges.
We will require proof of a customer’s Forces Help to Buy offer in the form of a PIN (Personal Information Note) document
which can be applied for on the Joint Personnel Administration (JPA) system.
Head of Key Accounts