Thread: first time buyers whilst serving in MOD?

hi there,

Me and Mr Hammy are looking to buy our first property in the near future. We have looked into this housing deal thingy that offers upto 50% interest free loan but unfortunately hubby has served 6 years 6 months so is over the 6 Year cut off (sods law). Can anyone give any info over 1. What mortgages suit military families? 2. Are there any other housing schemes available preferably for MOD? and 3. Where do we start LOL????? haha ;-)

Thanks, any info would be great advice :-)

xx

We looked into this about 2 years ago, Mr S had some leaflets from a company who did the homes for local key workers. He qualified for this. I can't think what they were called, although think there are a few of these about. It's where you buy a % of the house and rent the rest and can then buy the rest back.

In the end decided to go for standard Mortage type with 100% ownership (once paid back to the bank)
Was lucky as MR S is extremely sensible with money and had a large deposit which helped to some degree. However having spent all his life in block rooms, not having, bills, never needing anything on credit, his cars, bikes have skways been brought with cash. Mr S was not considered credit worthy enough for a couple of lenders who had the best deals. The broker was really surprised. Now himself is quite rare in that he never had anything on credit, most people do now, so think that was it rather than a direct issue of being in armed forces.
Got one in the end, and then the real fun started. I don't think buying a house is ever easy!

Have a look at this:

Forces Properties Direct - FPDirect

These people are very helpful and I know a few people that have recently bought through them.

Also the follwowing people can help with a mortgage if the above can't:

Savings Accounts for the Armed Forces

Hope this helps.

Me xx

thanks for the info! much appreciated :-) xx