Forces Help to Buy is a government initiative specifically tailored to help members of the armed forces in purchasing a home in Newcastle.
This scheme offers eligible personnel an interest-free loan, empowering them to borrow up to 50% of their salary, with a maximum cap of £25,000. The loan can be used towards the deposit and associated costs of buying a property, easing the financial burden associated with homeownership.
The primary objective of Forces Help to Buy is to address the unique challenges faced by military personnel. Due to frequent relocations and the nature of their service, accessing traditional mortgage products can often prove difficult. This scheme aims to bridge that gap and provide servicemen and women in Newcastle with the opportunity to step onto the property ladder and establish a stable home for themselves and their families.
By offering financial support and favourable loan terms, Forces Help to Buy strives to make homeownership in Newcastle more attainable and affordable for individuals serving in the armed forces. It recognises their dedication and commitment, ensuring that they have the opportunity to secure a place they can call their own, even amidst the challenges of military life.