The government found that these schemes were becoming more and more popular so began creating more schemes to try and help struggling applicants get onto the property ladder. Although most of the schemes target first time buyers, they created a new scheme that was exclusively aimed at armed forces personnel. This scheme also comes under the ‘Help to Buy’ umbrella, being named the Help to Buy Armed Forces scheme.
Help to Buy Mortgage Advice in Newcastle
The scheme is quite simple. It allows eligible Regular armed forces personnel to borrow up to 50% of their salary, interest-free, to buy a home. This can be used to purchase your first home or to move home if you are assigned to a different location or your family circumstances have changed.
The Forces Help to Buy scheme became permanent on 1 January 2023. It remains available to Regular service personnel who meet its eligibility criteria. The scheme has an aim to address the low rate of homeownership amongst armed forces personnel.
Who can access the scheme?
To qualify, you must be Regular service personnel, have completed the required length of service, have more than 6 months left to serve when applying and meet the relevant medical criteria. Reservists and members of the Military Provost Guard Service are excluded.
There may be some scenarios where there are exceptions to the who can and who can’t access the scheme. Usually, this relates to personal circumstances or other medical conditions.
How much can I borrow?
Strictly, you can only borrow up to 50% of your annual salary, with the maximum being £25,000. Whether this covers your deposit depends on the property price, the advance available to you and the mortgage lender’s requirements. You may need savings as well. The advance can also help with eligible purchase costs, such as solicitor’s and estate agent’s fees.
How do I apply for the scheme?
As a mortgage broker in Newcastle, we do offer our help in getting a mortgage through the Help to Buy Armed Forces scheme. Alternatively, you can seek advice by approaching your chain of command or personnel agency.
If you are interested in the Armed Forces scheme, feel free to get in touch with our team for Help to Buy mortgage advice in Newcastle. If you’ve previously owned a property, it may be worth getting in touch to see whether you qualify or not. Even if you are a first time buyer in Newcastle, it may be worth checking anyway!
Date Last Edited: October 20, 2026
