The Conservatives launched the Forces’ Help to Buy scheme in April 2014. This was aimed at helping members of the Armed Forces afford a deposit to buy their first home. Already this has ensured that 10,000 personnel have already been successful. For many being able to have a home of their own is a dream come So the Government is now extending the scheme until 2018 so that more can benefit.
It is worth remembering that fewer than half of the Armed Forces own their own home. Overall home ownership rate in he Armed Forces is around 47 per cent. Amongst non-officer other ranks such as non-commissioned officers, warrant officer ranks and below only 40 per cent own their own home, falling to only 30 per cent for other ranks in the Army.
Our Armed Forces keep us safe and we are committed to giving our service personnel and the unsung heroes – their families – the support they want in return for all they do for our country. So extending this scheme more troops will get this extra help, they will be able to give their families the stability that many of us take for granted.