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The Armed Forces Home Ownership Scheme provides equity loans to assist qualifying Service personnel to purchase a home on the open market.
The purchaser takes out a first mortgage and this plus any cash contribution must cover a minimum of 50% of the purchase price. This is topped up with an equity loan covering between 15% and 50% of the remaining purchase price. The maximum value of a home purchased through the Armed Forces Home Ownership Scheme is £300,000.
The equity loan is funded by the Ministry of Defence and administered by the Scheme Agent, Swaythling Housing Society, on the behalf of the Homes and Communities Agency
Please call 01778 391550 for more information.