Forces Help to Buy enables regular Armed Forces personnel to borrow up to 50% of their salary, interest free, to buy their first home or move to another property on assignment or as their family's needs change.
To date more than £242 million been provided to over 16,000 applicants. The extension of the pilot will allow Defence to explore how the policy fits within the wider housing strategy and understand any opportunities for private sector provision of the scheme.
The Secretary of State said:
"Everyone dreams of owning their own home and this hugely popular scheme has already helped thousands of Service personnel realise that dream. By extending the scheme by a further year I really hope we can help many more first-time buyers, families and married couples get a foot on the property ladder."
Help to Buy website: https://www.helptobuy.gov.uk/
