THE Forces Help to Buy (FHTB) scheme has been extended until the end of 2019 – great news for the 69 per cent of families in a recent AFF poll who are planning to use the scheme after December 2018.
AFF is pleased that this popular scheme has been extended for another year. However, this will only benefit those families who are currently able to purchase a property in 2019.
For this to be meaningful to all families, a commitment must be made to extend FHTB beyond 2019 and into the foreseeable future. We will take a close interest in the work being done next year to find ways to extend FHTB further.
What is the Forces Help to Buy Scheme?
FHTB allows soldiers to borrow up to 50 per cent of their salary (capped at £25,000) to buy their first home, extend their current one or move to another property on assignment or as their needs change.
The loan can be used towards a deposit and other costs such as solicitor and estate agents’ fees and can be repaid over a period of up to 10 years.
Find out more on the AFF website.