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Armed Forces Mortgages

We can assist you whether you are in the Army, Air Force, or Navy.

We understand that members of the military have distinct requirements from those in other professions. As a soldier, airman, or sailor, you are more likely to be reassigned abroad frequently and on short notice. If you’ve been renting or living in barracks for many years, you may have a minimal deposit to put down.

The good news is that the HM Government has established a Help to Purchase Scheme intended for individuals like you who are looking to get on the property ladder.

Why to choose an Armed Forces Mortgage

There are many reasons why military members and their families should consider an Armed Forces Mortgage. One of the biggest benefits is the flexibility that these mortgages offer. For example, extra payments can be made without any penalties or interest charges. This allows borrowers to pay off their mortgage sooner if they choose to do so.

Another great benefit of an Armed Forces Mortgage is that members can choose to have their mortgage portability. This means that if you are reassigned to another location, you can take your mortgage with you. This is a huge benefit for military families who may move around often.

Armed Forces Mortgages also offer very competitive interest rates. In fact, these rates are often lower than those offered by standard mortgage products. This is because lenders view military members as low-risk borrowers.

Additionally, Armed Forces Mortgages usually have a longer repayment period than standard mortgages. This means that you will have more time to pay off your mortgage, which can be helpful if you experience any financial difficulties along the way.

How to apply for an armed forces mortgage

To apply for an Armed Forces Mortgage, you will need to provide proof of your military service. This can include your military ID card, DD Form 214, or orders from your commanding officer. You will also need to provide proof of your income and employment history.

Lenders will also want to see your credit score and report. It’s a good idea to get these documents in order before you begin the application process.

What are the different types of mortgages available to military members and their families?

There are a few different types of Armed Forces Mortgages available to military members and their families.

The most common type is the fixed-rate mortgage. This type of mortgage has a set interest rate and monthly payment amount, which means that the borrower will know exactly how much they need to pay each month.

Another popular type of Armed Forces Mortgage is the adjustable-rate mortgage. This type of mortgage has an interest rate that can change over time. The monthly payment amount will also fluctuate depending on the interest rate.

Finally, there are also hybrid mortgages available. These types of mortgages have both a fixed and adjustable interest rate. The monthly payment amount will be based on the interest rate that is in effect at the time.

No matter which type of Armed Forces Mortgage you choose, you can be sure that you are getting a great deal on your home loan.

If you are ready to start the process of buying a home, an Armed Forces Mortgage may be the right choice for you.

Contact us today to learn more about this type of mortgage and how we can help you get into the home of your dreams.

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    If you would like to speak to one of the team then please call 01869 248 339 or email us at info@imsinternet.co.uk

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  • Book an appointment

    Book an appointment

    Book an appointment with one of our mortgage specialists at a date and time of your convenience. Initial consultations are free and last approximately 30 minutes. Please book your appointment by clicking the button below.

     

  • Contact us

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