Forces Help to Buy scheme made permanent

The Forces Help to Buy (FHTB) scheme has been made permanent by the government.

The FHTB scheme encourages and supports service personnel to buy their own home, allowing them to borrow up to 50% of their gross annual salary, up to a maximum of £25,000.

This advance is interest free, repayable over a maximum of ten years and is open to most regular personnel with more than 12 months’ service.

Since its launch as a pilot in 2014, the government says FHTB has contributed to a 16% increase in home ownership amongst service personnel.

It is expected that approximately 5,000 Serving personnel will use the scheme per year to help them with home ownership.

Minister for Defence People, Veterans and Service Families, Dr Andrew Murrison, said: "I am delighted to announce that the Forces Help to Buy scheme has been made permanent. This recognises the unique challenges that service personnel, and their families face and gives the opportunity to purchase a property to provide stability during their service."