We asked Forces Financial’s Victoria Theodorou (pictured below) for her top tips on how Army families based overseas can begin the process of arranging a mortgage before to return to Britain…


VTHEODOROUTAKING action early is important. The mortgage process can take a while and it is typical for a purchase transaction to take a number of weeks to complete.

Doing as much research as possible will arm you with all the knowledge and tools that you will need to make applying for your mortgage that much easier.

Having a good search on property websites will offer you a broad view of what is currently available on the market. Have a look for the type of property that you would like and see what is available within the area you are relocating to.

This is also a good way to help you understand what price range you can work within and how much you will need to borrow.

Use a budget planner to go over your finances so you know exactly how much you will need for your moving costs. Don’t forget to factor in the cost of removals if it isn’t covered by the MOD.

Look for help from companies that offer whole-of-market advice so they can identify the most suitable solutions for you and also those that are not tied to a particular mortgage company so their advice and recommendations are based on your individual needs.

A company that has experience dealing with the military would be extremely beneficial as they understand your situation and in particular the challenges you can face if you have been abroad for some time.

It is also important to check whether they charge fees for their services. Sometimes these can be quite high, but there are companies that do not charge for their advice.

Look for help from companies that offer whole-of-market advice so they can identify the most suitable solutions for you and also those that are not tied to a particular mortgage company so their advice and recommendations are based on your individual needs.

Familiarise yourself with the options available to you like Forces Help To Buy, which is designed to assist Service personnel and their families by providing financial support towards a deposit.

If you do not have a solicitor, you will need to do some research and find one that is suitable to your needs. Indeed, to apply for the Forces Help to Buy scheme you will need a solicitor.

Searching for a mortgage can be a challenging process, but if you do some research and get as prepared as you can before you apply, the entire process should be more manageable. 


For more details about Forces Financial’s services, visit www.forcesfinancial.com


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