By its very nature, military life tends to be nomadic. For many service personnel and their families, getting out of Service Family Accommodation and into your own home is the ultimate dream; but getting the money together for a deposit, legal fees, removal costs and other expenses can be a struggle.
In April 2014, LSAP (Long Service Advance of Pay) was replaced by Forces Help to Buy (FHTB), which allows regular service personnel on the trained strength to borrow up to 50% of your annual salary, to a maximum of £25,000.
There are complex rules to navigate, and our Forces Law members can help you apply for an advance of pay through FHTB. Then, once you’ve found your perfect property, your conveyancing lawyer will take care of the practical legal details.
We have lawyers with specialist knowledge of FHTB, as well as personal experience of serving in the Armed Forces. From conducting searches, through drawing up and exchanging contracts to completion, Forces Law members can handle the whole conveyancing process for you, and help make getting the keys to a home of your own a reality.
The FHTB scheme is due to end on 31 December 2022.
The most important point that we can make is to take advice from one of our specialist firms as soon as possible if you have any related query.