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Forces Help to Buy

Forces Help to Buy is an interest-free loan scheme offered by the UK Ministry of Defence to eligible service personnel. It supports personnel by covering upfront costs – such as deposits and fees – when purchasing a property, making it easier for you to get on the property ladder.

How it works:

  1. Borrow up to 50% of Your Annual Salary
  2. Available to First-time Buyers and Second Steppers
  3. Use Your Loan Your Way
  4. No Property Price Cap

Check Your Eligibility

The first step is to ensure you qualify for the Forces Help To Buy scheme by contacting the Ministry of Defence.

They will assess whether or not you have the minimum years of service requirement, plan to work long enough to repay the loan over the next ten years and have met the necessary service and conduct requirements within your role.

What Is Your Budget?

Contact an independent financial advisor to find out how much you can afford to spend on your new home. If you need help finding an advisor, Thomas Alexander Homes will be happy to recommend one.

Once you are comfortable with your budget, ask your financial advisor to secure a Decision in Principle for you.

Reserve Your New Home

Once the Decision in Principle has been secured, you can reserve your new Thomas Alexander Home!

One of our friendly Sales Executives will then help you identify the perfect Thomas Alexander home for your requirements.

As soon as a reservation fee of £500 has been paid, your chosen property will be held for a set reservation period, allowing you to proceed with the legal process.

 

 

Progress Your Purchase

At Thomas Alexander Homes, we employ a specialist Sales Progressor who will be in touch to help ensure the legal process to purchase your new home goes smoothly.

Next, you simply need to apply for Forces Help to Buy with your service personnel admin system. Once submitted, the review process can take a few weeks, so it’s important to submit your application as soon as possible after reserving your new home. Your application will then be sent to your Chain of Command for approval.

From here, the remainder of the legal process is very similar to a standard purchase, so please refer to page 6 of the ‘Your Reservation’ booklet provided in your Reservation Box