The latest Forces Help To Buy (FHTB) Statistics for the fourth quarter of 2021/22 have now been published by the Government. They show that since the scheme began in 2014, over 27,000 members of the Armed Forces have received a FHTB payment, totalling over £413 Million, with an average loan of around £15,270 per claim.
The FHTB scheme was launched in April 2014 with the aim of supporting and encouraging home ownership amongst Service Personnel whose level of home ownership has historically been lower than the rest of the UK population. Regular Service Personnel can borrow up to 50% of their gross annual salary (to a maximum of £25,000) to buy their first home, move to another or, in exceptional circumstances, extend an existing property.
Among the many good things about the scheme is that the stats show it is helping our younger personnel get on the housing market.
For full details of the scheme and how to apply, please visit the website at this link.
And if you want more detail on the stats mentioned above, including who is buying where, please click on the image below: