MoD helps 7,000 army personnel become home owners

According to figures collated from the Forces Help to Buy (FHTB) scheme, 7,620 Armed Forces personnel have been helped to become home owners.

The statistics show that the vast majority (78 per cent) have been non-officers. The average amount borrowed on an interest free rate was £15,200 for each successful applicant, over £100 million has been paid through FHTB.

Overall, more than 15,000 applications have been received and 9,500 of these have progressed to the second stage of checks. The scheme means regular personnel can borrow up to 50 per cent of their salary, capped at £25,000, to buy their first home.

Commenting on the scheme, Defence Secretary Michael Fallon said: “Members of our Armed Forces are no different to their civilian counterparts in wanting to get on the property ladder.

“Thousands of personnel are now benefiting from this scheme and gaining the stability that owning your own home provides."