Serving soldiers and other members of the Armed Forces will be given help to buy a new home. Daily Telegraph
Service personnel and their families can apply for a shared equity loan to help them on to the housing ladder.
The move applies to those living in Forces’ accommodation, and will increase their buying power by a third.
At market rates, a family on an income of £40,000 can afford a mortgage of around £160,000. This would rise to £210,000 under shared equity.
The loans, offered under the Government’s HomeBuy scheme for key workers such as nurses, are provided by the Department for the Communities along with four private sector lenders, and allow interest-free repayments on part of the debt.