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A new £200 million scheme will help Armed Forces personnel get on the property ladder, by allowing servicemen and women to borrow up to 50 per cent of their salary to buy their first home. The new Forces Help to Buy scheme will allow service personnel to borrow up to a maximum amount of £25,000, helping them to build up a deposit.

The new scheme is designed to address the low rate of home ownership in the Armed Forces, which is frequently identified as a problem for retaining servicemen.

Mr Hammond acknowledged that some service personnel struggle to enter the housing market, because their jobs force them to move around throughout their career. Credit ratings can be affected by frequent moves, making it harder to access mortgages.

"By giving our troops this extra help they will be more able to set down roots and get onto the property ladder," he said. "The introduction of this new scheme will help increase home ownership, and provide our Armed Forces with sustainable lifestyle choices."

http://www.telegraph...s-on-homes.html

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I do love how peoples 'deposits' are now just becoming debt too.

Takes away the entire point and principle of a 'deposit' in the first place.

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After WW2 the 'Homes for Heroes' programme actually BUILT affordable housing for returning troops and everyone else.

Fixed for you.....

There was a huge state investment in building homes (fit for heroes) but most other people got a look in as well. As it increased supply it mant affordable housing for everyone.

They could for example use the money earmarked for HS2 for a similar program but they won't.

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Rather good title to this thread. That's the real point of HTB helping existing homeowners whilst shafting those who want to buy. Hinder to buy scheme would be a better interpretation of the acronym.

Edited by crashmonitor

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After WW2 the 'Homes for Heroes' programme actually BUILT affordable housing for returning troops.

They should have relied on the free market. All that use of taxpayers money to build houses for people to live in. What a waste.

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Most soldiers earn about £20k - so the most they will be able to borrow is about £10k. That won't buy them much in most of the country.

And of course they have to repay it after 10 years.

Of course if the government hadnt sold off all the social housing we provided for soldiers - precisely because they were low paid and couldn't afford market prices we wouldn't have this problem

Another headline grabber that wont help much!

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I do love how peoples 'deposits' are now just becoming debt too.

Takes away the entire point and principle of a 'deposit' in the first place.

Northern Rock had that idea first ...

What's actually new? The armed forces have had help to buy for years: I recollect news features on how some of the poor missold heroes were having no equity and trouble getting decent tenants to pay the price back in about 2009.

[edit to add] Dammit, I believe my landlord back in about 1991 had bought the cottage I rented on a help-for-forces-to-buy scheme (though I never met him, only the agent)!

Edited by porca misèria

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http://www.dailymail.co.uk/news/article-2436191/200million-fund-help-soldiers-buy-home-lending-25-000-free.html

Soldiers will be offered interest-free loans of up to £25,000 to help them get a foot on the property ladder.

Defence Secretary Philip Hammond will today unveil the £200million scheme to increase home ownership in the military.

While three out of four officers in the armed forces own their own homes, just 36 per cent of other ranks do.

In the Army, the number of non-officers who own homes is just 27 per cent.

From next April for a three-year initial period, military personnel will be able to borrow the equivalent of half their salary interest free, up to a maximum of £25,000.

Repayments will be spread over ten years to ensure they are affordable.

Yet another blatant attempt to boost house prices!

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Yet another blatant attempt to boost house prices!

So what will be next?

Nurses, police, fire crew, council workers? Why single out the army? Surely every 'state' employee should be entitled to a loan to help them buy an overpriced house?

Shame they cannot just put the money into building shit loads of council houses?

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So what will be next?

Nurses, police, fire crew, council workers? Why single out the army? Surely every 'state' employee should be entitled to a loan to help them buy an overpriced house?

Shame they cannot just put the money into building shit loads of council houses?

You can't leverage with debt on council houses.

Debt is king!

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So what will be next?

Nurses, police, fire crew, council workers? Why single out the army? Surely every 'state' employee should be entitled to a loan to help them buy an overpriced house?

Shame they cannot just put the money into building shit loads of council houses?

Everyone if they are going to keep the ponzi going.

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Everyone if they are going to keep the ponzi going.

The UK's 'key' workers are the ones working in export industry.

Seriously - we're quickly heading to a debt/currency crisis.

Public sector? Essential!! Nah!

So many of them, so un-productive.

The fire strike is a bit of a a farce.

Outside of RTA, the fire service has been at a bit of a loose end since the end of coal fires and chip pans.

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Everyone if they are going to keep the ponzi going.

Has anyone seen any numbers on how many people they are doling out free* money too?

I ask, as when you see the actual numbers they amount to b.gger all.

Less a scheme for helping people; more a scheme for public sector workers trying to justify their existence.

* help for 2 years, on your own for the next 23.

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