New Forces Home Ownership Scheme

Discussion in 'Finance & Pensions' started by SEP86, Feb 13, 2010.

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  1. Just remembered this coming out in a DIB a week or so ago. Couldn't find it in a forum search so thought it might be worth publiscising:

    Armed Forces Home Ownership Scheme



    Are you looking to buy a home?





    The Armed Forces Home Ownership Scheme (Pilot) was launched in January 2010 and will run until Spring 2013.



    The scheme provides an opportunity for eligible Service Personnel to get on the property ladder.



    This is a pilot scheme which has been designed specifically for Service personnel and is restricted to those personnel who have between 4 and 6 years length of service on application.



    The scheme provides assistance in the form of a shared equity to purchase a home on the open market in England.



    Shared equity is where an individual takes out two products, a % of the property value as a mortgage and a % of the property value through an equity provider - in this case the MOD.



    If you meet all of the eligibility requirements you could borrow between 15-50% (to a maximum of £75k) of the property purchase price.



    Funding for this pilot scheme is limited and shared amongst the 3 Services; applications will be processed on a first come, first served basis.



    Further details on the scheme, eligibility and how to apply can be obtained from Swaythling Housing who have been appointed to manage the scheme.



    website www.afhos.co.uk

    email [email protected]

    ph 0800 028 1980

    http://www.rncom.mod.uk/BreakingNews/Armed_Forces_Home_Ownership_Scheme.aspx
     

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