Military Mortgages

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Military mortgage – What is it and how can it help?

A career in the military can bring lots of opportunities – but there can be challenges too. Buying a home can be one of them; but today many lenders offer military mortgages that are designed to work for Forces personnel. In addition, the government has made it easier for you to get on the property ladder.

What is a military mortgage?

There aren’t any mortgages developed specifically for the military, but a lot of mortgage companies today welcome Forces customers. Some have amended their lending criteria to allow for some of the unique features of a military career, including overseas tours and urgent postings.

You might find a list of forces-friendly lenders in your benefits information, along with other financial products information.

What mortgage assistance can military personnel gain?

Rates of home ownership have always been lower in the military. One reason is that the military lifestyle can make owning a home more complicated. Secondly, it can be harder to get a mortgage at affordable rates.

You may also find that you have a poor credit rating – frequently moving around is a common cause, especially if you’ve served overseas.

If you want to find a good mortgage deal, you need to identify the right lenders. Certain mortgage companies are more flexible for a military customer. As well as being more likely to accept you, they often allow certain special allowances. These might include:

  • Buying in the UK while stationed overseas
  • Renting out your property on a standard residential mortgage while you’re stationed elsewhere. This normally requires a Buy to Let mortgage
  • Allowing your property to be unoccupied for periods of time

What is the Forces Help To Buy scheme?

The Forces Help to Buy Scheme is a government initiative to help members of the armed forces buy a home. Under the scheme you can borrow up to 50% of your salary, interest free, as a deposit to buy a property. The offer is open to both First Time Buyers and people looking to move house.

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All regular personnel qualify for the Help to Buy Scheme, as long as you meet a minimum length of service. You will also need to have more than six months left to serve, and there are a few medical requirements.

The loan is for a maximum of £25,000, depending on your annual salary. This could cover a deposit and other property costs. It must be repaid by the time you leave the forces, or within ten years – whichever comes soonest. It can often make sense to repay the loan by remortgaging the property.

Speak To An Expert

We’re able to tap into our local knowledge to guide you through your house purchase in your chosen area.

Can I access other government Help to Buy schemes?

Yes. The Government’s Help to Buy Equity Loan scheme is available on new build properties, where you can buy a property with just 5% deposit. The government then loans you up to a further 20% towards the deposit, interest-free for five years. You then take out a mortgage for the rest of the value.

You may also be able to access Shared Ownership deals, where you buy a share in a home and pay rent on the rest.

How can I find the best rates on military mortgages?

The rates you’re offered will depend on your specific circumstances – your salary, credit record, outgoings and the deposit you have available.

Getting the best rates usually means shopping around. Every lender will be slightly different – in both the rates they will offer you and the fees and charges for arranging the loan.

Use a mortgage calculator to get an idea of how much you could borrow and what the payments might be. Make sure they are comfortably affordable – if you can’t keep up with the repayments on your mortgage your home is at risk.

How can a Mortgage Broker help with Military mortgages?

The military mortgage market is a fairly specialist area, so it can help to seek advice.

At The Mortgage Centre we have lots of experience in helping military personnel buy a home. We spend time getting to know you, your personal situation and your property goals.  That information helps us find the lenders most likely to have suitable military mortgages at competitive rates.

We’ll then present the options to you and help you identify the most appropriate choices. We manage the mortgage application on your behalf and keep chasing up the details. We’re there for you right up until you collect the keys to your new home.

The Mortgage Centre is an appointed representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading style of First Complete Ltd which is authorised and regulated by the Financial Conduct Authority, you can trust us to take away the hard work of finding a mortgage to suit you.


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The Mortgage Centre are not responsible for the services provided by external websites.