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Mortgages for Military Personnel

Best Mortgage Rates

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Mortgages for Military Personnel

    • 4.07% Initial
    • 5 year fixed
    • 6.6% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
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    • 4.10% Initial
    • 5 year fixed
    • 6% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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    • 4.14% Initial
    • 5 year fixed
    • 6.3% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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    • 4.17% Initial
    • 5 year fixed
    • 6.4% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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    • 4.17% Initial
    • 2 year fixed
    • 6.7% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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    • 4.18% Initial
    • 5 year fixed
    • 6.7% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.18% Initial
    • 5 year fixed
    • 6.7% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.19% Initial
    • 5 year fixed
    • 6% APRC
    • Cashback Max £1,250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.19% Initial
    • 2 year fixed
    • 8% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.20% Initial
    • 5 year fixed
    • 6% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes

Representative example based on a fixed rate mortgage

A mortgage of £375,000 payable over 20 years initially on a fixed rate for 5 years at 4.38% and then at the standard variable rate of 7.65% for the remaining 15 years would require 60 monthly payments of £2,351.88 and then 180 monthly payments of £2,899.55.

The total amount payable would be £663,156.80 which includes interest and product fees of £1,124.

The overall cost for comparison is 6.5% APRC representative.

Early repayment charges may apply.

Mortgages for Military Personnel

Find out what mortgages are available to military personnel

Being in the military can mean moving home at short notice, as well as being stationed overseas and having to organise a mortgage from abroad, so a specialist mortgage broker could help you to get a mortgage that suits military personnel.

 

Military mortgages

Members of the armed forces may be eligible to apply for a mortgage under the Forces Help To Buy Scheme (FHTB), which was launched by the government in April 2014 and will run for three years.

Using the Forces Help To Buy Scheme, military personnel can borrow up to 50% of their salary interest-free to buy a first home or to move to another property. For a deposit, solicitors' fees, and other moving costs, you could borrow up to £25,000. Over ten years, the loan is interest-free. FHTB is offered by many mainstream mortgage providers.

 

Is it possible for military personnel to qualify for mortgages?

If you meet any of the following criteria, you may qualify for a military mortgage:

  • The FHTB Scheme may be available to you if you are currently serving in the British Army, Navy, Marines, or Air Force.

  • At the time you apply, you have at least six months remaining to serve.

  • You do not already own a home within a 50 mile radius of where you plan to buy - unless you have family or medical circumstances that require you to move into a new or different home.

  • Existing mortgages cannot be repaid with the scheme.

  • If the property is within commuting distance of where you are stationed, the scheme is intended only for residential property.

Military personnel have other mortgage options

If you are not eligible for help to buy, you may still benefit from specialist mortgage advice for military personnel if you meet the following criteria:

  • You are a civilian support staff member of the armed forces.

  • You are a retired member of the armed forces.

  • A UK mortgage or an overseas mortgage is what you're looking for if you're stationed in the UK or overseas.

Government-backed schemes, such as Help To Buy, may also allow you to purchase a home with as little as 5% down.

 

To investigate your finance options call our broker team or fill in our call back form -  speak to our independent mortgage broker team who will be able to offer impartial advice or you can call us on 0117 403 3464

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